Herald - Issue 416

Page 64 • The HERALD • 9th December 2021 v THE HERALD - Proud to be part of your community v LJM Bookkeeping Services I provide a range of accounting and business services to individuals, partnerships, charities and small businesses. I am licenced through the Institute of Certified Bookkeepers for the following services. Bookkeeping, Computerised Accounting Software, Final Year End Accounts, Payroll Management, CIS, VAT, Self Assessment Tax for Individuals and Construction Industry Scheme, Statutory Accounts for Small Businesses including Corporation Tax and related submissions, Holiday cover can also be provided for, hourly rates charged. Please contact Lynda McIntyre Email:  ljmbookkeepingservices@gmail.com Telephone: 07774 790543 ASK A PROFESSIONAL FESTIVE GIFTS THAT TEACH YOUR CHILDREN THE VALUE OF MONEY by Michael Osman, Oyster Financial Planning With the festive season approaching, have you thought about gi ing your children or grandchildren something di erent this year? Giving them a good start in life by investing in their future can make all the di erence. Lifetime gi ing is also a way of mitigating any Inheritance Tax concerns. Not all saving products for children are made equally. With interest rates at historic lows, if you are looking to put money away for a child to enjoy when they grow up investing is by far the best way to maximise your gi . Some people remain worried about the volatility of investing but, with an 18-year horizon, putting money to work in the market can give signi cantly higher returns than products such as Premium Bonds. One option to consider is a Junior Individual Savings Account (JISA). If a child was born between 2002 and 2011, they might already have a Child Trust Fund, but these can be transferred into a JISA. A JISA is a long-term savings account set up by a parent or guardian and lets you save and invest on behalf of a child under 18 without paying tax on income or gains. With a JISA account, you can put your child’s savings into proper investments. Any pro ts you earn are free from tax. Investments are riskier than cash but could give your child a bigger pro t. e value of a JISA can go down as well as up. Money in the account belongs to the child, but they can’t withdraw it until they turn 18, apart from in exceptional circumstances. e JISA limit is £9,000 for the tax year 2021/22. When your child turns 18, their account is automatically rolled over into an adult ISA. To learn more about how you can really help your younger family members this Christmas with a di erent kind of gi please do get in touch with Michael at Oyster opposite Lloyds Bank in Hythe. Michael Osman