Child Trust Fund accounts (CTFs) are released for the first time. The accounts were introduced by former Chancellor Gordon Brown two decades ago for children born between 2002 and 2011 to help them invest in their future.
And in September, thousands of them are set to mature, which means teens turning 18 will be able to cash in on their 'hidden' savings.
Since 2002, around 6.3million trust funds have been set up, roughly 4.5million by parents or guardians and a further 1.8million by HM Revenue & Customs (HMRC) where parents or guardians did not open an account.
This means some children do not know there are accounts in their name and are unaware their money is waiting for them. Economic Secretary to the Treasury, John Glen, said: “We want.
Read more on dailyrecord.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.