Putting shares into the names of your minor (ie <18) children is not an effective way of reducing your own tax burden. Any income from the shares above £100 is treated as your income and taxable in your hands, not your childrens'.
Commonly, grandparents set up trusts for their grandchildren, and the shares are held on their behalf by trustees. In these circumstances, any capital gains are the responsibility of the trust (not the children) but the income is taxable in the childrens' hands. Children, like adults, have an annual personal allowance.
It used to be possible for parents (as opposed to grandparents) to make an outright gift to a minor child, with the capital being held by a trustee, and the income being treated as the child's for income tax purposes as long as it wasn't actually paid out to the child. This loophole was closed in the 1999 Budget.
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