Friday, 4 September 2020

Child Trust Funds

18-year olds now get a chance to access their Child Trust funds! Children born from September 2002 were given vouchers by the Government. 

The government initially put £250 into the tax-free account during a child's first year, then added another £250 when he or she reached the age of seven. 

For lower-income families, the payment was £500. with access to the money at 18. Parents, family and friends could also contribute to the account, up to set limits. The scheme was ended in January 2011.  

See:  https://www.gov.uk/child-trust-funds

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