Millions of people may be totally unaware the money is waiting for them
Parents and young people are being urged to check if they have a “hidden pot of gold” in the form of a child trust fund. Around 55,000 accounts mature every month, HM Revenue and Customs said.
Parents or guardians set up accounts using vouchers provided by the Government. If an account was not opened by the child’s parent, HMRC set one up on the child’s behalf. Between 2002 and early 2011, about six million of the funds were opened by parents or guardians, with a further million set up by HMRC.
At 16 years old, a child can choose to operate the account themselves, but they cannot withdraw the funds. At 18 years of age, the account matures and the child can withdraw money or move it to a different savings account.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
HMRC urges people born in certain years to claim sum worth £2,000HM Revenue and Customs has said around 430,000 young adults could be set for a windfall
Lire la suite »
HMRC urging mums and dads to claim extra £2,000Working families can claim an additional £2,000 per child each year
Lire la suite »
Older people urged to look out for HMRC letter that could be worth around £5,000Letters about potential State Pension underpayments are being sent out this month from HMRC.
Lire la suite »
HMRC giving £2,000 handout to people born in these yearsThe government provides an initial deposit of at least £250
Lire la suite »
HMRC issues Halloween reminder that could provide an extra £4,000A Tax-free Childcare account only takes 20 minutes to open and could save families a lot of money for childcare needs
Lire la suite »
HMRC tax agent defrauded Nottingham victims as he stole £750,000Robin Moss, also an internationally-ranked chess player, was sentenced to 10 years in jail
Lire la suite »