Deed of Covenant to a student

H

Honestcon

Registered User
Messages
12
I have a daughter in University. When I was at college, my Dad was able to make a deed of covenant to me.
But it looks to me that this option is not available any more? Payments can only be made to over 65s and incapacitated individuals...

Am I right?
 
Done away with years ago, I availed of the same to my younger brother for years way back when.
 

Great days- how far £80 a month went back then!!
 
Any idea how does this work for incapacitated persons? Can you gift money annually to 18+ year old son? Would this reduce tax burden?
I remember the covenant years back but thought it was done away with
 
All the rage in the 80's. Horse long since bolted unfortunately.
 
A parent can support their child tax-free whilst in full-time education up to age 25.

And even beyond that, nobody cares, even Revenue, unless you’re enormously wealthy and acting the maggot.
 
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