Quick kids saving accounts, tax exposures, allowances?

[Mr Whippy]

I can't remember for certain and the details are changing a lot over recent years, but if I've used up my tax free allowance for savings, if my kids have any interest on their named building society accounts, do I then have to pay tax on it, or do they have their own allowance?

I was in my building society earlier in the week and seemed to imply the latter, but I was worried it was the former.

Their balances aren't that large, but it's enough to make the tax feel like a kick in the balls if it becomes due, and move it to JISA/JSIPP or whatever sooner than later.

[alscar]

Children have their own allowances.
It used to be if interest went over £100 then parents might be liable but it seemed rarely enforced.

[Zigster]

I looked at this recently as one of my children is still under (just) 18 and we were going to give them a chunk of money to pre-fund university,

Interest is counted as parental income if the funds come from the parents (and interest is over £100 pa). It’s not counted if the income is from other sources such as grandparents.

I’ve no idea how HMRC would monitor it in practice, but presumably there would be penalties if they do spot it.

Edited to add link to gov.uk
https://www.gov.uk/savings-for-children