Family Investments Child Trust Fund

About Family Investments Child Trust Fund

The Family Investments Child Trust Fund is the most popular Child Trust Fund provider in the UK, with over 640,000 different accounts held with the company. They are able to provide a range of gifts if setting up a Direct Debit account online, the ability to fully manage your account online, 30 years of operation in the Family Trust Fund industry behind them, and a reputable name. The Family Investment Child Trust Fund was a government initiative with the aim of helping to give all children some sort of financial asset before they begin their adult life. All children are eligible to start a Child Trust Fund providing they are a UK resident and were born on or after 1st September 2007. In addition, when you apply for child benefit, H.M. Revenue and Customs will give you a £250 Child Trust Fund voucher to set up the account, and £250 will be paid directly into the account if the family of the child is receiving a full Child Tax Credit. In addition, some families will be eligible for a further contribution of £250 when the child reaches seven. There are a number of providers of Child Trust Fund accounts offering different types of account. You are given a year to invest your initial £250 voucher and if you haven't selected an account by this point it will be automatically invested on your behalf. Once the account is opened with your chosen provider, any family member is able to pay up to £1,200 a year into the account and the money will remain untouched in the account until the child's 18th birthday when they will have access to the money and can use it to help fund their future plans.

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