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registered interest false more like this
date less than 2020-01-16more like thismore than 2020-01-16
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Child Trust Fund more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
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. more like this
tabling member constituency East Worthing and Shoreham more like this
tabling member printed
Tim Loughton more like this
uin 4285 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-01-21more like thismore than 2020-01-21
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 more like this
answering member printed John Glen more like this
grouped question UIN
4282 more like this
4283 more like this
4284 more like this
4286 more like this
question first answered
less than 2020-01-21T15:29:20.057Zmore like thismore than 2020-01-21T15:29:20.057Z
answering member
4051
label Biography information for John Glen more like this
tabling member
114
label Biography information for Tim Loughton more like this