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Top Child Trust Funds Article Discussion Area
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# 181
snowcat53
Old 17-05-2012, 11:10 AM
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Quote:
Originally Posted by zamzia View Post
Done. I can't believe there are only 3,999 signatures though. Seriously!
Probably because this seems to me a non-issue, and we are not 'stuck' in CTFs. My son's CTF (F&C Investment Trust) is doing fine and there would be no advantage I can see in transferring it to a JISA. The expectation (I am informed) is that the money in a CTF will be rolled into an ISA when it matures
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# 182
LeifGR
Old 29-05-2012, 9:52 PM
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Hi snowcat53,
Quote:
Originally Posted by snowcat53 View Post
The expectation (I am informed) is that the money in a CTF will be rolled into an ISA when it matures
Can you expand on that a bit - I don't understand what you are saying?
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# 183
snowcat53
Old 30-05-2012, 5:42 PM
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That the CTF will be redesignated as an ISA in the young person's name so it remains tax free from 18 when it becomes theirs. There are obviously technical issues to sort out and the Govt have made no official announcement but this is what the provider told me.
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# 184
LeifGR
Old 30-05-2012, 6:10 PM
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OK, thanks - I understand. Some of us with CTFs feel that the JISA system is likely to offer greater choice and diversity and better potential returns, which is why we don't wish to be "stuck" in the CTF system. The fact that the funds might be possible to move over to the adult ISA system at maturity is a poor consolation - and it will be a long wait!
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# 185
Jim Fisk
Old 21-06-2012, 1:48 PM
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Default Child Trust Funds

Not sure if this qualifies as a trust fund question, but as my grandchildren were born I started a saving account for each of them.
Not a lot, 10.00 per month for each.
The elder two are the sons of my son and his German wife, both boys being born in Germany and resident there, both German citizens.
The eldest will be 18 in August and I will cease to pay his 10.00 per month.
There is a little over 2000.00 in his account, he is not desperate for the money at the moment and I am wondering which way to go with it.
Do I, a) leave it in the Halifax and let him take it in Sterling when he wants it, b) transfer it into a Euro account, (and which one), and let him do the same when he wants it, or c) have the Halifax transfer it into his German bank account, or what else do you suggest?
I'm just trying to get it to him the most painless way, and in a method where he doesn't lose out too much with the transfer.
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# 186
judenchris
Old 27-06-2012, 6:46 AM
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Default credit union

can i invest my grand daugters CTF in a credit union account?
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# 187
xylophone
Old 27-06-2012, 1:41 PM
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http://www.direct.gov.uk/en/MoneyTax...ount/DG_194923 There is a list of providers here.

"To open a Child Trust Fund (CTF) account, you need a 'provider'. These are organisations (including banks, building societies and credit unions) approved to provide CTF accounts. Your own bank or building society could be one. All providers offer CTF stakeholder accounts, but some no longer accept new accounts. Check their website for details."

See here for information. http://www.direct.gov.uk/en/MoneyTax...ount/DG_193682
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# 188
miss hh
Old 09-07-2012, 11:19 PM
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IM hoping someone can help me or point me in the right direction. When my daughter was born in 2005, I received the standard goverment CTF voucher. I never did anything with the voucher at the time.

I was told that it would have automatically been opened up into an account somewhere. Is this true?

How can I find details of her voucher?

thanks for any replies.
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# 189
xylophone
Old 09-07-2012, 11:28 PM
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Quote:
I was told that it would have automatically been opened up into an account somewhere. Is this true?
http://www.direct.gov.uk/en/MoneyTax...ount/DG_193682
"What happens if you don't open a CTF account?
If you dont open a CTF account before the expiry date on the voucher, HMRC will open one for your child. This will be an account known as a 'Stakeholder' account. You can find out more about this type of account by going to link 'Help with choosing a Child Trust Fund account' below.
HMRC will write to whoever gets Child Benefit for your child telling them where the account is held. They will also let you know that someone with parental responsibility will need to become the registered contact for the account."
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# 190
miss hh
Old 12-07-2012, 11:06 PM
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Quote:
Originally Posted by xylophone View Post
http://www.direct.gov.uk/en/MoneyTax...ount/DG_193682
"What happens if you don't open a CTF account?
If you dont open a CTF account before the expiry date on the voucher, HMRC will open one for your child. This will be an account known as a 'Stakeholder' account. You can find out more about this type of account by going to link 'Help with choosing a Child Trust Fund account' below.
HMRC will write to whoever gets Child Benefit for your child telling them where the account is held. They will also let you know that someone with parental responsibility will need to become the registered contact for the account."
So how do I find the details of the stakeholder account? I am the person who gets child benefit for my daughter but I moved house shortly after her birth so Im not sure of any letters being sent out.
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# 191
NorthWest
Old 24-07-2012, 11:46 AM
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Default CTF Best Rates

CTF - Furness BS (1+) 3.05
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# 192
NorthWest
Old 24-07-2012, 11:54 AM
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Default CTF - Furness BS (1+) 3.05

Furness BS offers higher rate of interest for CTF at 3.05%
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# 193
NorthWest
Old 24-07-2012, 12:00 PM
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Default CTF conversion to Junior ISA

It would be a key issue if the move to convert CTF to Junior ISA happens at least by next budget. That would reduce two categories of tax saving saving product for the providers and investors - savers. That would be a huge voter friendly initiative. There is no loss to the treasury by permitting it.
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# 194
mark.1
Old 16-10-2012, 4:40 AM
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Child trust fund is a very good investment for your children's secure future. such an investment must be made by parents in order to give their children's secure future. And there must be many trust like that.
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# 195
Palferoo
Old 17-10-2012, 9:23 AM
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Can anybody advise whether we might be able to invest for our son. He was born in Italy in February 2010 although we now live in the UK. Therefore he was not part of the Child Trust Fund and it appears he's not eligible for Junior ISA saver either. I'd like to put money away for him as a tax-free University fund but don't know what we can use.
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# 196
black taxi
Old 13-11-2012, 8:41 PM
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Is 1.50% amc ok if that's the only fee?

No platform or upfront

Thx
48515-interest 181(2009)debt/mortgage-MFIT/T2/T3
4.mfw 2014 9000/1693/9000+)(10 days)
vanguard lifestrategy 60/40 equity accum isa 0
cash isa 150
emergency fund 0
mortgage free (10 days) 02/12/14
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# 197
black taxi
Old 13-11-2012, 8:45 PM
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Sorry wrong thread
48515-interest 181(2009)debt/mortgage-MFIT/T2/T3
4.mfw 2014 9000/1693/9000+)(10 days)
vanguard lifestrategy 60/40 equity accum isa 0
cash isa 150
emergency fund 0
mortgage free (10 days) 02/12/14
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# 198
qualitynet
Old 15-11-2012, 2:55 PM
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thanks for information. its very important to keep save money for children from the very first day of their birth.
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# 199
xtinataguba
Old 16-11-2012, 3:08 PM
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i have three kids, can you tell me what i can are the benefits they can get if i get them trust funds? does it have a minumum deposit every month? or what?? i really dont have an idea, but i was planning to get one for them.
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# 200
TheRoadster
Old 07-02-2013, 8:23 PM
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Default F&C 25+VAT anual charge

I've just had the letter from F&C informing me that they are to start charging an annual fee of 25+VAT on our "Child Trust Fund Shares Account" from April '13.

For those that have chosen not to contribute any additional payments to the 250 of government money ( worth around 300 5yrs later) you will now be looking at an equivalent fee of 10% per annum !

Time to make a switch. Before I jump out of the frying pan in to the fire, are other share CTF providers ramping up their fees?
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