HMRC wrote: “Unlock a boost this Christmas by cashing in your #ChildTrustFund. If you’ve turned 18 in the past few years, then you could be missing out on a cash boost.”
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00:00If you've turned 18 recently, you might be able to unlock up to £2,000 through a
00:05Child Trust Fund. This government scheme was set up to provide a financial boost at adulthood
00:10and encourage saving. HMRC is now urging those born between 1 September 2002 and 2 January
00:162011 to check if they have an account. If your parents claim child benefit, they may
00:21have opened an account for you, or HMRC might have done it on your behalf. At 18, you can
00:26access your money and at 16 or 17, you can take control of the account or let your parents
00:31manage it until you're ready. The funds can be transferred to an ISA or another savings
00:35account your provider can help you explore options. If you don't know your account
00:39details, you can ask HMRC to identify your provider by completing an online form with
00:44your national insurance number. Don't worry if you can't act immediately, your money
00:48will stay secure in a protected account until you decide what to do with it.