Nearly all children born between 1 September 2002 and 2 January 2011 were the lucky recipients of a government handout – usually £250 or £500 – which was locked away in a Child Trust Fund (CTF). Child Trust Fund money continues to be forgotten.
HMRC urges parents of teenagers to check for hidden cash in forgotten Child Trust Funds. Does that include you?
Over £9 billion was invested in Child Trust Funds (CTFs) as of April 2020, according to new HMRC data.
Child Trust Funds are reaching maturity on 1 September. CTFs and Junior ISAs (JISAs) are tax efficient ways of saving for children: the annual subscription limit has now doubled. Worth considering for younger savers’ long term investments.
