We've got a joint account
avelox generic equivalent Beside the ﾂ｣100 quirk relating to where the child’s money originated, children have the same tax-free personal allowance as adults (ﾂ｣9,440 for this tax year), so it is highly unlikely tax will need to be paid. But, for interest to be paid gross to the child a special form – the R85 – needs to be completed. For grandparents or others whose estates are expected to exceed the inheritance tax threshold, giving can be an effective tax-saver. Everyone can give ﾂ｣3,000 per year (and ﾂ｣3,000 for the previous year, if the allowance was not used) with no inheritance tax implications.