ASKFinancially

Guide to Child Trust Funds
Guide to Child Trust Funds

Frequently asked questions

FAQ Child Trust FundCan the name of the person who is listed as the registered contact be changed?

Yes, it is possible to change the name of the individual who is detailed as the registered person on the Child Trust Fund. The fund provider needs to be contacted and they will issue a form which should be completed and returned with details of the individual who is now to be known as the registered person.

FAQ Child Trust FundAre there any provisions made for children who were born before Sept 2002?

No, unfortunately any child born before September 2002 are not eligible for the government scheme. However there are other saving plans available specifically for children which have great benefits but are not subsidised by the government.

FAQ Child Trust FundMy baby is due to be born mid August. Taking into account the recent announcement from the UK government, will my child be entitled to the voucher from the government for the Child Trust Fund?

On May 24th 2010 the UK Government announced they intend to phase out the Child Trust Fund scheme. In order to do this legislation must first be passed in Parliament and until this is done the Child Trust Fund will remain in place.

Once the legislation is passed the Government intends on reducing the voucher values for children born after July 31st, they will be entitled to receive a reduced voucher amount of £50 and this will remain the case for all children being born until the end of 2010. After this time the government will cease all contributions, however all existing accounts will continue to remain tax free. Therefore if your child was born before July 31st 2010 it would receive the full £250 voucher. If however it was born in August the entitlement would be reduced to £50.

FAQ Child Trust FundIf a family move abroad and leave the UK what happens to the child trust fund?

The Child Trust Fund can be left in the UK and the child will no longer be eligible to receive any further government contributions. However, the fund will remain enjoying the benefits from accumulating interest tax free.

FAQ Child Trust FundI have lost the voucher which was issued, can I get a replacement?

If you have lost the voucher or maybe haven't received it yet you can contact the Child Trust Fund to request a replacement at the following address;

Child Trust Fund Office,
Waterview Park,
Mandarin Way,
Washington,
NE38 8QG

or by telephone; 0845 302 1470

PDF Guide Download the Child Trust Fund PDF Guide here - see our other free PDF guides here

Guide Contents

Child Trust Fund (CTF)
Choosing the best Child Trust Fund
Managing a Child Trust Fund
Government changes to the Child Trust Funds
Frequently asked questions
Where to go for further help and information about Child Trust Funds

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