Those born between 2002 and 2005 could be eligible to claim the money.
Thousands of young adults across the UK who were born between certain years are being urged to claim up to £2,000 cash by HM Revenue and Customs . It has been said that almost 430,000 people aged 18 to 21 have unclaimed Child Trust Funds.
At the time the CTF was started, lots of people were given £250 from the government, while those from low-income families or in local authority care received an additional £250. Some young adults may have forgotten about their accounts or be unaware one was set up for them.Funds can be withdrawn once the child turns 18. Young adults and parents can search on gov.uk to find out where their CTF account is held. HMRC has said that there are 5.
“I would encourage young people to use the online tool to track it down or, for parents of teenagers, to speak to them to ensure they’re aware of their Child Trust Fund. It could make a real difference to their future plans.”You can use the online form to ask HMRC where the trust fund is, or request the details by post to the following address: Charities, Savings and International 1, HMRC, BX9 1AU.
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