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Child Trust Fund: Newcastle-under-Lyme

Answer

HMRC promotes awareness of the Child Trust Fund scheme through targeted communications and highlights HMRC's 'Find a Child Trust Fund' service which helps people search for details of their Child Trust Fund (CTF) provider so that they can take ownership of their accounts.

The law requires parents or guardians to have legal authority to make decisions about the financial assets or property on behalf of their adult children. This includes accessing funds held in a mature CTF.

The Ministry of Justice has published a toolkit on gov.uk explaining the process for parents and guardians of young people without mental capacity to obtain legal authority if no other arrangements are in place. This can be done by making an application to the Court of Protection for an order authorising access to monies held in a mature CTF. Where an individual has sufficient mental capacity, it is possible for them to access the account themselves or make a Power of Attorney.

In addition, the Government has established a dedicated Taskforce to address the issue of unclaimed matured CTF accounts and improve outcomes for account holders. The Taskforce will bring together Government and industry to strengthen tracing activity, increase engagement, and support access to these funds.

The Government continues to keep all aspects of savings policy under review.

Secondary information

Type

Written question

Reference

7657

Session

2026-27

Transferred

Yes

Subjects

Disability Child trust fund Newcastle-under-Lyme

Link

View this Written question on www.parliament.uk