🎉 Attention Parents! 🎉 Your child could be sitting on a cash windfall of around £2,200, and it’s time to claim it! If your child was born between 1st September 2002 and 2nd January 2011, they likely have a Child Trust Fund waiting for them. These funds were set up with an initial government contribution of £250 and have been growing tax-free since then. Now, as children turn 18, they can finally access their savings!
Shockingly, over 700,000 young people have unclaimed funds. Hundreds of thousands of these accounts have yet to be touched, and HMRC is eager to reunite families with their money. 🙌
Wondering how to get your hands on this cash? If you already know your Child Trust Fund provider, reach out to them. If not, use the online tool on GOV.UK to find out more. Just search “find your Child Trust Fund” to get started.
⚠️ A word of caution: Beware of third-party agents offering to find your Child Trust Fund for a fee. Some charge up to £350 or 25% of the account’s value! Save your money and use the free resources available to track it down yourself.
Angela MacDonald from HMRC highlights the importance of not paying unnecessary fees, saying, “You don’t need to pay anyone to find your Child Trust Fund for you.” So take advantage of this straightforward and cost-free process to claim what’s rightfully yours!
Tag a parent who might need to know this important info and spread the word to help young adults access their well-deserved savings! 💸💼