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    • snowcat53
    • By snowcat53 17th May 12, 11:10 AM
    • 599 Posts
    • 373 Thanks
    snowcat53
    Done. I can't believe there are only 3,999 signatures though. Seriously!
    Originally posted by zamzia
    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
    • LeifGR
    • By LeifGR 29th May 12, 9:52 PM
    • 179 Posts
    • 57 Thanks
    LeifGR
    Hi snowcat53,
    The expectation (I am informed) is that the money in a CTF will be rolled into an ISA when it matures
    Originally posted by snowcat53
    Can you expand on that a bit - I don't understand what you are saying?
    • snowcat53
    • By snowcat53 30th May 12, 5:42 PM
    • 599 Posts
    • 373 Thanks
    snowcat53
    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.
    • LeifGR
    • By LeifGR 30th May 12, 6:10 PM
    • 179 Posts
    • 57 Thanks
    LeifGR
    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!
  • Jim Fisk
    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.
  • judenchris
    credit union
    can i invest my grand daugters CTF in a credit union account?
    • xylophone
    • By xylophone 27th Jun 12, 1:41 PM
    • 20,191 Posts
    • 11,558 Thanks
    xylophone
    http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/SettingupaChildTrustFundaccount/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/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/SettingupaChildTrustFundaccount/DG_193682
  • miss hh
    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.
    • xylophone
    • By xylophone 9th Jul 12, 11:28 PM
    • 20,191 Posts
    • 11,558 Thanks
    xylophone
    I was told that it would have automatically been opened up into an account somewhere. Is this true?
    http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/SettingupaChildTrustFundaccount/DG_193682
    "What happens if you don't open a CTF account?
    If you don’t 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."
  • miss hh
    http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ChildBenefitandChildTrustFund/ChildTrustFund/SettingupaChildTrustFundaccount/DG_193682
    "What happens if you don't open a CTF account?
    If you don’t 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."
    Originally posted by xylophone
    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.
  • NorthWest
    CTF Best Rates
    CTF - Furness BS (£1+) 3.05
  • NorthWest
    CTF - Furness BS (£1+) 3.05
    Furness BS offers higher rate of interest for CTF at 3.05%
  • NorthWest
    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.
  • mark.1
    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.
    mark.1
  • Palferoo
    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.
    • black taxi
    • By black taxi 13th Nov 12, 8:41 PM
    • 1,799 Posts
    • 6,280 Thanks
    black taxi
    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
    debt/mortgage free 28/11/14
    vanguard 60/40 accum isa £10000
    emergency fund£400
    #81 save 2017£2k
    • black taxi
    • By black taxi 13th Nov 12, 8:45 PM
    • 1,799 Posts
    • 6,280 Thanks
    black taxi
    Sorry wrong thread
    £48515 interest £181 (2009)debt/mortgage-MFIT/T2/T3
    debt/mortgage free 28/11/14
    vanguard 60/40 accum isa £10000
    emergency fund£400
    #81 save 2017£2k
  • qualitynet
    thanks for information. its very important to keep save money for children from the very first day of their birth.
  • xtinataguba
    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.
  • TheRoadster
    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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