Does anyone have advice for me please, I am looking for a regular savings account for my daughter who recently turned 16. Until now she saved every month with the Halifax. The Halifax have just informed us that she will be subject to tax unless she changes the account over to a monthly saver, but the interest on this is very low and they are not being particularly helpful. We are looking for a simple savings account for appx 4k plus a regular fixed monthly amount to help towards university fees and/or first car purchase in a few years. Account must be available for on-line set up as this is the easiest things for us. Any suggestions?

The HMRC can be very helpful. Subject to advice how about puuting £3600 into an ISA? I'm not saying Halifax is wrong but I don't understand why you need to change to a regular saver to avoid tax. Could you not use an internet easy access account for regular saving? Does form 'R85' come into it for a sixteen year old?

Drumster is right.Move the accumulated savings to the best online rate. Shop around for a Regular Saver but most are only paying around 7 to 7.5% without conditions.(Brittania B.S.?) Register both for Gross interest (Form R85).

Halifax are getting worse by the day for customer service and interest rates (bonds not bad).Drop them.

ISA probably not necessary unless she intends to save long term.

Good luck.