Children's Trust fund

Zara33

I just posted this on the benefit board as part of a discussion, hopefully it will help those who have a disabled child: http://forums.moneysavingexpert.com/showthread.html?t=1709729

Zara33 wrote: »

Child Trust Funds

The Child Trust Fund (CTF) is a long-term tax-free savings and investment account for children born on or after 1 September 2002. The govenment will give every eligible child a voucher worth at least £250 to start the fund. Your child will be eligible if they:

• were born on or after 1 September 2002
• qualify for Child Benefit
• are living in the UK
• not subject to any immigration restriction.

You use the government voucher to invest in a special account that your child will be able to access when they reach 18. Parents, family and friends can add up to £1,200 to the account each year. There is no tax to pay on the CTF income or any gains (profit) it makes until your child reaches age 18.


If your child is part of a household getting Child Tax Credit, with a houshold income at or below £16,040 for tax year 2009-10, your child will get an additional £250, this will be paid directly into the CTF account.

Once your child reaches seven years of age, your child will get a further payment of £250 (£500 if you're on a low income).
From April 2009, if you receive Disability Living Allowance for your child, your child will be entitled to an annual payment of £100, with severely disabled children receiving £200. These payments will be paid directly into the CTF account from April 2010 (in respect of the previous year).
This further payment recognises that disabled children are likely to have higher financial needs when they make the transition to adulthood.
To qualify for a voucher you have to be claiming Child Benefit for your child. If you haven't received a voucher within a month of starting to claim Child Benefit call the CTF helpline on 0845 302 1470 (8.00am to 8.00pm).
If you don't open a CTF account within 12 months of the date shown on the voucher, the government will open a CTF account for your child.

From a leaflet i received in the post this morning: www.hccf.org.uk

Spring 2009 leaflet not yet on their web page.