Over half a million Brits are completely unaware that they're owed a hefty sum of money thanks to a tax-free savings account scheme created by the government back in 2002
More than half a million Brits have been urged to complete a simple check to see if they are eligible to claim thousands. HM Revenue and Customs has revealed 671,000 young people aged 18-22 have yet to claim the money in their Child Trust Fund.
Every child born between September 1, 2002, and January 2, 2011, will have an account - with a minimum of £250 plus interest thanks to the government's deposit. Even if your parents did not set up an account for you, the government will have sorted it out on your behalf, and you can withdraw funds from the age of 18.
"Thousands of Child Trust Fund accounts are sitting unclaimed – we want to reunite young people with their money and we're making the process as simple as possible," said Angela MacDonald, HMRC's Second Permanent Secretary and Deputy Chief Executive. "You don't need to pay anyone to find your Child Trust Fund for you, locate yours today by searching 'find your Child Trust Fund' on GOV.UK.
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