Buying Shares for someone else

Hi, I’m very new to this but would like to know if I can buy shares for someone else (my Nephew’s 30th birthday)? I don’t mind opening an account as I think I may start investing myself but initially I want to buy these for a birthday present.
Thank you

I can’t see why not, if you open the account in his name and use his details.

OK, I’ll have to try to get some of his details…
Thank you

I don’t know, there may be fraud/tax implications in opening an account on someone else’s behalf.

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It’s so complicated. Would be nice and easy if there was almost like a “store card” where you load money on so that it can be invested! I don’t want to just give a cheque I want to buy actual shares!

Could you tell him about it, have him set up the account, and you provide the money to fund it? I don’t know the ins and outs, but there must be rules about buying shares for someone else. Could create tax issues for them, could cause conflict of interest, god knows what else.

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I guess I could give him a mock Share certificate with a cheque and ask him to sign up and buy the shares I would have chosen! That could work

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FT is very tied to the bank account used when signing up, it’d be a nightmare to try to set it up for someone else. But if they have signed up and done an initial funding, you can probably fund it from another account using the same reference.

There was some information here, so maybe google more and find something more useful: Can you give shares as a present to family or friends? | Shares Magazine

Thank you, that was useful but I think I may do the “mock up” share and give him the cheque to open up his own account. Seems to be the most straightforward way to go about it.

Many thanks All

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Freetrade only accepts funds from the linked account. You can’t deposit money even from another account in your own name.

@BridgeW29 your nephew would need to set up his own account linked to his own bank account. You could transfer money to his bank account which he could then transfer to Freetrade, but you wouldn’t be able to fund his investment account directly.
Share gifting does exist with its own tax rules but I don’t know which brokers facilitate it. I expect that you would have to go to the more established, more expensive brokers.

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