Children living in Northern Ireland for whom Child Benefit is being received and who were born on or after 1 September 2002 were entitled to a Child Trust Fund account. The Government sent out a voucher for £250 automatically. All children born on or after 1st September 2002, who were eligible for child benefit and RESIDENT in Northern Ireland, qualified for a Child Trust Fund account.
Children who lived in the UK, but who did not get Child Benefit because of certain EU legislation or international agreements, may have been eligible for the CTF.
If you think you have a child trust fund – or you’re not sure and want to check – HMRC has a dedicated service to find out where a child trust funds is held. You’ll be asked a few personal details in order for them to track it down – but you’ll also have to set up a government gateway account first. Once you know where the account is held, you’ll be able to contact the provider and – if you’re over 16 – gain control of your account. It’s estimated that more than one million child trust funds are ‘lost’ to their owners. In almost all cases of having a ‘lost’ account, it’s because it was opened by HMRC – either because the child’s parents or guardians failed to do it, or when families were receiving child tax credit. It’s highly likely that these children still have no idea these accounts exist, which is unfortunate given they’re likely to come from low-income backgrounds and could arguably benefit from the money the most.
For further information go to https://www.sharefound.org/