Cash legacies to under 18 year old

[paulnotcluedup]

If a cash legacy is left to a child, who would pay income tax on the income it will generate?

The legacy is from a grandparent and specified in their Will. Full IHT will be due as previous gifting has already used up the £325k allowance but the estate residue will pay for the IHT bill.

Can the child use the income tax personal allowance of £12,570 so that no income tax will be due on any interest earned. The interest will remain in the child's account and be compounded until they are 18. Does a child even get a £12,570 allowance for income tax purposes?

Many thanks

[bd6759]

The income belongs to the child. The child has a personal allowance.