Claim Your Free £2,200 from HMRC if Born in Specific Four-Year Period
People across the UK born between 2002 and 2006 are being urged to claim £2,200 from HMRC. More than 670,000 people aged 18 to 22, so born between 2002 and 2006, are yet to claim their Child Trust Funds from HMRC, the Labour Party government’s taxman. These people are being reminded to cash in their stash. Child Trust Funds are long-term, tax-free savings accounts set up by the government, depositing £250 for every child born between 1 September 2002 and 2 January 2011. Young people can take control of their Child Trust Fund at 16 and withdraw funds when they turn 18 and the account matures. The savings are not held by the government but in banks, building societies, or other saving providers. The money stays in the account until it’s withdrawn or reinvested. If teenagers or their parents and guardians already know who their Child Trust Fund provider is, they can contact them directly. If they do not know where their account is, they can use the online tool on GOV.UK to find out their Child Trust Fund provider. Young people will need their National Insurance number – which can be found easily using the HMRC app – and their date of birth to access the information. Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, said: “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.” Gavin Oldham, The Share Foundation, said: “If you are 18-21 years old, the government would have put money aside for you shortly after birth. This investment would have grown quite a bit and it’s in your name. The Share Foundation has linked over 65,000 young people to their Child Trust Fund accounts. It’s easy and free to find out where your money is. Go to findCTF.sharefound.org or GOV.UK to locate it today.”
How to Claim Your £2,200 from HMRC
If you were born between 2002 and 2006 and have not claimed your Child Trust Fund, you could be missing out on £2,200. Follow these steps to access your money:
| 1. | Know your National Insurance number and date of birth. |
| 2. | Contact your Child Trust Fund provider if you know them. |
| 3. | Use the online tool on GOV.UK if you don’t know your provider. |
Expert Advice on Reclaiming Your Funds
Gavin Oldham from The Share Foundation advises young people to check if the government has put money aside for them through a Child Trust Fund. Reclaiming your funds is easy and free, so don’t miss out on this opportunity to claim what’s rightfully yours.
Take Control of Your Financial Future
By claiming your £2,200 from HMRC, you can take a significant step towards securing your financial future. Don’t let this money go unclaimed, as it could make a difference in your life. Act now and access your Child Trust Fund to start building a stronger financial foundation.