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1174242

registered interest
date	29/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Economic Secretary to the Treasury, of 13 March 2019, Official Report, column 177WH, whether any changes have been made to the letter that his sent to young people informing them of their national insurance number when they reach 16 years old.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	9774
answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>The Child Trust Funds (Amendment) Regulations 2020 (SI2020/29) were laid on 15 January 2020 - <a href="http://www.legislation.gov.uk/uksi/2020/29/contents/made" target="_blank">www.legislation.gov.uk/uksi/2020/29/contents/made</a></p><p> </p><p>Child Trust Funds (CTF) accounts will start to mature in September 2020 when the first children reach 18. These regulations ensure maturing CTF will retain their tax-free status and also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p><p> </p><p>HMRC has improved the National Insurance number notification letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Funds scheme. The letter informs young people that they may have money in a Child Trust Fund and signposts them to HMRC’s guidance on accessing and managing the account.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 9773 question first answered 03/02/2020 13:01:58 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1173686

registered interest
date	27/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to (a) raise public awareness of and (b) encourage young people to access monies held in their name in Child Trust Fund accounts.
tabling member constituency	St Helens North
tabling member printed	Conor McGinn
uin	8356
answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>HMRC is working closely with Child Trust Fund providers and the wider industry to assist those who have difficulty in locating a misplaced Child Trust Fund account.</p><p> </p><p>HMRC:</p><ul><li>has improved the National Insurance Notification (NINO) letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Fund scheme;</li><li>has worked with a charity, The Share Foundation, to develop a process whereby the charity can link children with their account; and</li><li>is developing a simplified system for account tracing which will assist those with a limited digital footprint.</li></ul><p> </p><p>In addition, while CTF providers are already required to send regular statements to the contact for the account, regulations were laid on 15 January which will require them to send a statement in the year the child reaches 17 in anticipation of the maturity of the account.</p><p> </p><p>If a child, or their parent, does not know which provider is managing the child’s account, HMRC provides a tracing service, which can be accessed at: <a href="http://www.gov.uk/child-trust-funds" target="_blank">www.gov.uk/child-trust-funds</a></p><p> </p><p>As accounts do not begin to mature until September 2020, no accounts are currently unclaimed, and the total value of unclaimed funds is zero.</p><p> </p><p>The regulations laid on 15 January ensure that any CTF account not claimed by the account holder when they turn 18 will retain its tax-free status until it is claimed. These regulations also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8357 8358 question first answered 30/01/2020 14:05:14 answering member 4051 label Biography information for John Glen
tabling member	4458 label Biography information for Conor McGinn

1173687

registered interest
date	27/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the total number of unclaimed Child Trust Fund accounts in (a) St Helens North constituency and (b) the UK.
tabling member constituency	St Helens North
tabling member printed	Conor McGinn
uin	8357
answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>HMRC is working closely with Child Trust Fund providers and the wider industry to assist those who have difficulty in locating a misplaced Child Trust Fund account.</p><p> </p><p>HMRC:</p><ul><li>has improved the National Insurance Notification (NINO) letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Fund scheme;</li><li>has worked with a charity, The Share Foundation, to develop a process whereby the charity can link children with their account; and</li><li>is developing a simplified system for account tracing which will assist those with a limited digital footprint.</li></ul><p> </p><p>In addition, while CTF providers are already required to send regular statements to the contact for the account, regulations were laid on 15 January which will require them to send a statement in the year the child reaches 17 in anticipation of the maturity of the account.</p><p> </p><p>If a child, or their parent, does not know which provider is managing the child’s account, HMRC provides a tracing service, which can be accessed at: <a href="http://www.gov.uk/child-trust-funds" target="_blank">www.gov.uk/child-trust-funds</a></p><p> </p><p>As accounts do not begin to mature until September 2020, no accounts are currently unclaimed, and the total value of unclaimed funds is zero.</p><p> </p><p>The regulations laid on 15 January ensure that any CTF account not claimed by the account holder when they turn 18 will retain its tax-free status until it is claimed. These regulations also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8356 8358 question first answered 30/01/2020 14:05:14 answering member 4051 label Biography information for John Glen
tabling member	4458 label Biography information for Conor McGinn

1173688

registered interest
date	27/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the total value of unclaimed funds currently residing in Child Trust Fund accounts.
tabling member constituency	St Helens North
tabling member printed	Conor McGinn
uin	8358
answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>HMRC is working closely with Child Trust Fund providers and the wider industry to assist those who have difficulty in locating a misplaced Child Trust Fund account.</p><p> </p><p>HMRC:</p><ul><li>has improved the National Insurance Notification (NINO) letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Fund scheme;</li><li>has worked with a charity, The Share Foundation, to develop a process whereby the charity can link children with their account; and</li><li>is developing a simplified system for account tracing which will assist those with a limited digital footprint.</li></ul><p> </p><p>In addition, while CTF providers are already required to send regular statements to the contact for the account, regulations were laid on 15 January which will require them to send a statement in the year the child reaches 17 in anticipation of the maturity of the account.</p><p> </p><p>If a child, or their parent, does not know which provider is managing the child’s account, HMRC provides a tracing service, which can be accessed at: <a href="http://www.gov.uk/child-trust-funds" target="_blank">www.gov.uk/child-trust-funds</a></p><p> </p><p>As accounts do not begin to mature until September 2020, no accounts are currently unclaimed, and the total value of unclaimed funds is zero.</p><p> </p><p>The regulations laid on 15 January ensure that any CTF account not claimed by the account holder when they turn 18 will retain its tax-free status until it is claimed. These regulations also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8356 8357 question first answered 30/01/2020 14:05:14 answering member 4051 label Biography information for John Glen
tabling member	4458 label Biography information for Conor McGinn

1171505

registered interest
date	16/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many Child Trust Fund accounts were taken out between their introduction in September 2002 and their replacement by junior ISA's in January 2011; and how much was invested in them from public funds.
tabling member constituency	East Worthing and Shoreham
tabling member printed	Tim Loughton
uin	4282
answer	answer is ministerial correction date of answer 21/01/2020 answer text <p>HMRC has published the number of CTF and contributions in the following publications for the years requested. The following links provide the last edition of these publications.</p><p> </p><p>Link to “Child Trust Fund Statistical Report” – <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf</a></p><p>Link to “Child Trust Funds: detailed distributional analysis” - <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf</a></p><p> </p><p>HMRC does not have records of, nor have they made any estimations of, CTF accounts where the child or their parents is unaware of which firm is maintaining the account. CTF providers are required in legislation to send out regular statements to the contact for the account. However, although the primary relationship is between the account provider and the child’s parents, if they don’t know which provider is managing their child’s account, they can use the following online form to track the account.</p><p> </p><p><a href="https://www.gov.uk/child-trust-funds" target="_blank">https://www.gov.uk/child-trust-funds</a></p><p> </p><p>HMRC estimates the market value of all Child Trust Funds (as at 2015-16), which will start to be eligible to be accessed by their beneficial holder from September 2020, to be £7,450 m. This estimate used the latest complete Child Trust Fund information available to HMRC – relating to 2015-16. This may not necessarily be reflective of the market value the accounts when they reach maturity.</p><p> </p><p>A complete list of authorised Child Trust Fund Providers is held at the following webpage: <a href="https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers" target="_blank">https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers</a></p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 4283 4284 4285 4286 question first answered 21/01/2020 15:29:19 answering member 4051 label Biography information for John Glen
tabling member	114 label Biography information for Tim Loughton

1171506

registered interest
date	16/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how much was contributed to Child Trust Funds from parents and relatives; and to how many accounts.
tabling member constituency	East Worthing and Shoreham
tabling member printed	Tim Loughton
uin	4283
answer	answer is ministerial correction date of answer 21/01/2020 answer text <p>HMRC has published the number of CTF and contributions in the following publications for the years requested. The following links provide the last edition of these publications.</p><p> </p><p>Link to “Child Trust Fund Statistical Report” – <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf</a></p><p>Link to “Child Trust Funds: detailed distributional analysis” - <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf</a></p><p> </p><p>HMRC does not have records of, nor have they made any estimations of, CTF accounts where the child or their parents is unaware of which firm is maintaining the account. CTF providers are required in legislation to send out regular statements to the contact for the account. However, although the primary relationship is between the account provider and the child’s parents, if they don’t know which provider is managing their child’s account, they can use the following online form to track the account.</p><p> </p><p><a href="https://www.gov.uk/child-trust-funds" target="_blank">https://www.gov.uk/child-trust-funds</a></p><p> </p><p>HMRC estimates the market value of all Child Trust Funds (as at 2015-16), which will start to be eligible to be accessed by their beneficial holder from September 2020, to be £7,450 m. This estimate used the latest complete Child Trust Fund information available to HMRC – relating to 2015-16. This may not necessarily be reflective of the market value the accounts when they reach maturity.</p><p> </p><p>A complete list of authorised Child Trust Fund Providers is held at the following webpage: <a href="https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers" target="_blank">https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers</a></p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 4282 4284 4285 4286 question first answered 21/01/2020 15:29:19 answering member 4051 label Biography information for John Glen
tabling member	114 label Biography information for Tim Loughton

1171507

registered interest
date	16/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many Child Trust Funds remain unlinked with the current details of the beneficial owner.
tabling member constituency	East Worthing and Shoreham
tabling member printed	Tim Loughton
uin	4284
answer	answer is ministerial correction date of answer 21/01/2020 answer text <p>HMRC has published the number of CTF and contributions in the following publications for the years requested. The following links provide the last edition of these publications.</p><p> </p><p>Link to “Child Trust Fund Statistical Report” – <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf</a></p><p>Link to “Child Trust Funds: detailed distributional analysis” - <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf</a></p><p> </p><p>HMRC does not have records of, nor have they made any estimations of, CTF accounts where the child or their parents is unaware of which firm is maintaining the account. CTF providers are required in legislation to send out regular statements to the contact for the account. However, although the primary relationship is between the account provider and the child’s parents, if they don’t know which provider is managing their child’s account, they can use the following online form to track the account.</p><p> </p><p><a href="https://www.gov.uk/child-trust-funds" target="_blank">https://www.gov.uk/child-trust-funds</a></p><p> </p><p>HMRC estimates the market value of all Child Trust Funds (as at 2015-16), which will start to be eligible to be accessed by their beneficial holder from September 2020, to be £7,450 m. This estimate used the latest complete Child Trust Fund information available to HMRC – relating to 2015-16. This may not necessarily be reflective of the market value the accounts when they reach maturity.</p><p> </p><p>A complete list of authorised Child Trust Fund Providers is held at the following webpage: <a href="https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers" target="_blank">https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers</a></p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 4282 4283 4285 4286 question first answered 21/01/2020 15:29:20 answering member 4051 label Biography information for John Glen
tabling member	114 label Biography information for Tim Loughton

1171508

registered interest
date	16/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how much money is invested in Child Trust Funds which will be eligible to be accessed by their beneficial holder from September 2020.
tabling member constituency	East Worthing and Shoreham
tabling member printed	Tim Loughton
uin	4285
answer	answer is ministerial correction date of answer 21/01/2020 answer text <p>HMRC has published the number of CTF and contributions in the following publications for the years requested. The following links provide the last edition of these publications.</p><p> </p><p>Link to “Child Trust Fund Statistical Report” – <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf</a></p><p>Link to “Child Trust Funds: detailed distributional analysis” - <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf</a></p><p> </p><p>HMRC does not have records of, nor have they made any estimations of, CTF accounts where the child or their parents is unaware of which firm is maintaining the account. CTF providers are required in legislation to send out regular statements to the contact for the account. However, although the primary relationship is between the account provider and the child’s parents, if they don’t know which provider is managing their child’s account, they can use the following online form to track the account.</p><p> </p><p><a href="https://www.gov.uk/child-trust-funds" target="_blank">https://www.gov.uk/child-trust-funds</a></p><p> </p><p>HMRC estimates the market value of all Child Trust Funds (as at 2015-16), which will start to be eligible to be accessed by their beneficial holder from September 2020, to be £7,450 m. This estimate used the latest complete Child Trust Fund information available to HMRC – relating to 2015-16. This may not necessarily be reflective of the market value the accounts when they reach maturity.</p><p> </p><p>A complete list of authorised Child Trust Fund Providers is held at the following webpage: <a href="https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers" target="_blank">https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers</a></p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 4282 4283 4284 4286 question first answered 21/01/2020 15:29:20 answering member 4051 label Biography information for John Glen
tabling member	114 label Biography information for Tim Loughton

1171509

registered interest
date	16/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will list the financial firms who operate Child Trust Funds.
tabling member constituency	East Worthing and Shoreham
tabling member printed	Tim Loughton
uin	4286
answer	answer is ministerial correction date of answer 21/01/2020 answer text <p>HMRC has published the number of CTF and contributions in the following publications for the years requested. The following links provide the last edition of these publications.</p><p> </p><p>Link to “Child Trust Fund Statistical Report” – <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255886/statistical-report.pdf</a></p><p>Link to “Child Trust Funds: detailed distributional analysis” - <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/255881/dda.pdf</a></p><p> </p><p>HMRC does not have records of, nor have they made any estimations of, CTF accounts where the child or their parents is unaware of which firm is maintaining the account. CTF providers are required in legislation to send out regular statements to the contact for the account. However, although the primary relationship is between the account provider and the child’s parents, if they don’t know which provider is managing their child’s account, they can use the following online form to track the account.</p><p> </p><p><a href="https://www.gov.uk/child-trust-funds" target="_blank">https://www.gov.uk/child-trust-funds</a></p><p> </p><p>HMRC estimates the market value of all Child Trust Funds (as at 2015-16), which will start to be eligible to be accessed by their beneficial holder from September 2020, to be £7,450 m. This estimate used the latest complete Child Trust Fund information available to HMRC – relating to 2015-16. This may not necessarily be reflective of the market value the accounts when they reach maturity.</p><p> </p><p>A complete list of authorised Child Trust Fund Providers is held at the following webpage: <a href="https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers" target="_blank">https://www.gov.uk/government/publications/list-of-authorised-child-trust-fund-providers/child-trust-fund-account-providers</a></p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 4282 4283 4284 4285 question first answered 21/01/2020 15:29:20 answering member 4051 label Biography information for John Glen
tabling member	114 label Biography information for Tim Loughton