child trust fund


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child trust fund

money paid by the government for the benefit of children in the future. The terms of a child trust fund must secure that it is held in the name of a child, secure that the child is beneficially entitled to the investments under it, secure that all income and gains arising on investments under it constitute investments under it, prevent withdrawals from it except as permitted by regulations, and provide that instructions may be given to the account provider with respect to its management only by the person who has the authority to manage it. Parents may pay money into it and it benefits from tax advantages.
References in periodicals archive ?
Youngsters aged between seven and 15 years old could have up to PS1,000 in a Child Trust Fund from the Government that has been forgotten.
Since April 6, every child under 18 has a brand new Junior ISA (JISA) or Child Trust Fund (CTF) allowance.
So I'm delighted that, as a result of these changes, over six million children who currently have savings in a child trust fund will be able to benefit from better returns and lower charges on those savings in the future.
Parents and other family members and friends could also invest money in a child trust fund on the child s behalf.
The treasury stated that the best interest rate for a Child Trust Fund was 3%, while the best interest rate for a Junior ISA was 6%, as of 19 November.
The Government has designed the new tax-friendly savings account for children to replace the Child Trust Fund (CTF).
However, unlike the child trust fund where hundreds of pounds were given to each child, the Government will not make any payments.
PARENTS were urged yesterday to apply for the child trust fund top-up in Wales before it is too late.
Earlier this year the UK Coalition Government made a decision to end the Child Trust Fund.
PARENTS in Yorkshire want their children to spend their Child Trust Fund on education, according to research.
From 2010, the Government will contribute pounds 100 every year to the Child Trust Fund accounts of disabled children, with severely disabled children receiving pounds 200 per year.
NEARLY a third of Child Trust Fund vouchers are going unused three years after the Government scheme was launched.
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