HMRC set up child funds

CTF accounts mature for thousands of teenagers

Thousands of teenagers to get access to pot of money each over the next nine years

Thousands of teenagers in the South West are set to benefit for the first time from money in Child Trust Funds (CTFs) that has been waiting for them since they were young children.

Since 2002, around 6.3 million CTF accounts have been set up, roughly 4.5 million by parents or guardians and a further 1.8 million set up by HMRC where parents or guardians did not open an account. In the...