HMRC consultation: Draft regulations: maturing Child Trust Funds
Released 06 June 2019
HMRC are seeking views on draft regulations to ensure that funds in maturing Child Trust Fund accounts can retain their tax-advantaged status after maturity.
A Child Trust Fund (CTF) is a tax-advantaged savings account which provides children born between 1 September 2002 and 2 January 2011 with an asset when they reach adulthood. CTFs begin maturing in September 2020 when the first children reach 18. Without legislative change the investments will lose their tax-advantaged status at maturity. The draft regulations which will ensure that the funds in maturing CTF accounts could retain their tax-advantaged status after maturity. The consultation closes at 11:45pm on 11 August 2019. Responses can be submitted by email to: firstname.lastname@example.org or by writing to:
Mature CTF Consultation,
HM Revenue and Customs,
100 Parliament Street,
London, SW1A 2BQ.
For more information, see Open consultation Draft regulations: maturing Child Trust Funds.