child trust fund...bit confused.

~daisychain~ · Jan 31st, 2010, 09:42 AM

do you have to put a certain amount of money in the account every month/year or can u just pay the vouchers in?

Foogirl · Jan 31st, 2010, 09:44 AM

It will depend on the kind of account you want to open, but most will have a type of account that lets you open it with the vouchers and that's all you have to do. Any that ask for a certain monthly amount will likely give a better rate of interest though.

You can only pay a maximum of 1200 in a tax year into these trust fund accounts and with most of them you can do that as an when you wish.

TCM Stephanie · Feb 1st, 2010, 09:04 AM

Hi Scottishgal89,

I think I can help with your CTF question!

Foogirl is right that up to £1,200 can be put into a Child Trust Fund each year, but the year stretches from your child’s birthday to birthday rather than tax year. Money can be paid in either by a monthly direct debit or by paying in lump sums whenever you want to - maybe after Christmas or their birthday if they’ve been given some money you want to save.

If you’re still a bit confused the Government has a dedicated CTF website you could look at or the money website This Is Money has really useful articles. I'm new to the site so can't post links I'm afraid but if you put ‘Child Trust Fund’ into Google it should bring them all up for you.

Just so you know, I work for The Children’s Mutual - a CTF provider.

Hope this helps
Stephanie

Jan 31st, 2010, 09:42 AM	#1
~daisychain~ Mum (Mom) Active BnB Member Join Date: Mar 2009 Posts: 3,703	child trust fund...bit confused. do you have to put a certain amount of money in the account every month/year or can u just pay the vouchers in?

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Jan 31st, 2010, 09:44 AM	#2
Foogirl Mum (Mom) BnB Addict Join Date: Jan 2009 Location: Falkirk, Scotland Posts: 5,965	It will depend on the kind of account you want to open, but most will have a type of account that lets you open it with the vouchers and that's all you have to do. Any that ask for a certain monthly amount will likely give a better rate of interest though. You can only pay a maximum of 1200 in a tax year into these trust fund accounts and with most of them you can do that as an when you wish.

Status: Offline

Feb 1st, 2010, 09:04 AM	#3
TCM Stephanie Mum (Mom) New BnB Member Join Date: Dec 2009 Posts: 7	Hi Scottishgal89, I think I can help with your CTF question! Foogirl is right that up to £1,200 can be put into a Child Trust Fund each year, but the year stretches from your child’s birthday to birthday rather than tax year. Money can be paid in either by a monthly direct debit or by paying in lump sums whenever you want to - maybe after Christmas or their birthday if they’ve been given some money you want to save. If you’re still a bit confused the Government has a dedicated CTF website you could look at or the money website This Is Money has really useful articles. I'm new to the site so can't post links I'm afraid but if you put ‘Child Trust Fund’ into Google it should bring them all up for you. Just so you know, I work for The Children’s Mutual - a CTF provider. Hope this helps Stephanie

Status: Offline

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