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Tax > Payroll Services > Inland Revenue Payroll Legislation > Child Trust Fund

Child Trust Fund

The Child Trust Fund (CTF) is a long-term tax-free savings and investment account for all children born on or after 1 September 2002.

Child Trust Fund

The government will give every eligible child a voucher worth at least £250 to start the fund. 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 (profits) it makes until your child reaches age 18.

Your child will be eligible if they:

were born on or after 1 September 2002
qualify for Child Benefit
are living in the UK

The government will send you a CTF voucher of £250 to start your child's account. If your child is part of a household getting Child Tax Credit, with a household income at or below £14,155 (tax year 2006-2007), your child will get an extra £250 - so £500 in all. You'll also get an additional payment of £250 (£500 if you are on a low income) once your child reaches seven years of age.
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, or if you lose the one you have, call the CTF helpline on 0845 302 1470 or textphone on 0845 366 7870 (8.00 am to 8.00 pm seven days a week).
If you don't open a Child Trust Fund account within 12 months of the date shown on the voucher, the government will open an account for your child.

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