Hi
My wife and I, being mercifully child-free, would like to invest a small amount each month on behalf of relatives' children in anticipation of them needing some cash to go on to further education or just help as they leave home. I'm unsure of the best way of going about this - I don't want to end up paying additional tax (we are both higher rate tax payers) and we already use our tax-free investments, such as ISAs and friendly societies. The child trust fund would seem to offer a way forward, but I'm not sure whether they are open to all children, with the government only adding funds for those born after 2003, or whether they are only open to those born after
2003.
Any advice on investing for children in general and child trust funds in particular would be much appreciated.
Neil