Child Trust Funds

The Child Trust Funds Act deals with Child Trust funds and other matters 

Child Trust Fund accounts

A Child Trust Fund (CTF) is a long-term tax-free savings account for children born between 1 September 2002 and 2 January 2011.   For each child entitled to a CTF account HM Revenue & Customs (HMRC) issued a voucher. The voucher could be worth £50 or £250 depending on when the child was born and when they became entitled to an account. The money in the CTF account belongs to the child but can't be taken out until they are 18. From 1 November 2011 parents, family and friends can add money to the account up to a limit of £3,720 a year.

Role of the Accountant of Court

The Accountant of Court manages CTF accounts for “looked after” children in Scotland where there is no-one (or no-one appropriate) with Parental Responsibility for the child. The Accountant of Court is given the role of “registered contact” and receives details from HM Revenue & Customs of the children whose CTF accounts require to be managed. The Accountant of Court then reviews the account at least annually to make sure it is performing well. The Accountant of Court will act in the best interests of the child and will take into account any appropriate views of the child, his/her carer or the local authority.

Parental Responsibility

Parental Responsibility (PR) describes the legal relationship between parents (and in some circumstances other adults) and their child(ren). Mothers and fathers who are married to the mother of their child(ren) automatically have PR. Unmarried fathers can obtain PR by a court order or by entering into an agreement with the mother. In terms of section 23 of the Family Law (Scotland) Act 2006 an unmarried father who is named on the birth certificate of a child born on after 4 May 2006 will also have PR. Other people may get PR, for example, by an order of the court.

Further deposits Up to £3,600 each year may be paid into CTF accounts by the child, a parent, or any other person. The Accountant of Court cannot accept payments for children’s CTF accounts. Payments should be made to the CTF provider.    

Change of registered contact

If a person adopts or otherwise acquires parental responsibility for a “looked after” child whose CTF is administered by the Accountant of Court they should advise the Accountant of Court accordingly and enclose the adoption certificate or other written evidence to confirm the change to the child’s status.  

The Accountant of Court, if satisfied that the person has parental responsibility for the child will confirm that the person should replace the Accountant of Court as the registered contact for the child. The person should then produce the Accountant of Court’s letter to the CTF provider and request that they become the registered contact.   The Accountant of Court will advise the Inland Revenue (Child Trust Fund Office) and the CTF provider that she has relinquished her role as registered contact.    

Child Trust Fund Office

General enquiries regarding CTF matters may be made to the Child Trust Fund Office.  

If you are not satisfied with the service you have received from the Child Trust Fund Office (or from any CTF provider) you should contact their office directly. The Child Trust Fund Office has a published scheme for dealing with complaints  

Child Trust Fund Team
Room 100
1st Floor
St John’s House 
Merton Road
L75 1BB
Further information on CTFs is available on the Child Trust Fund website