CTF Bulletin 84
Published 23 February 2018
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This publication is available at https://www.gov.uk/government/publications/child-trust-fund-ctf-bulletin-84/ctf-bulletin-84
This bulletin provides information on:
- Child Trust Fund (CTF) annual subscription limits
- The Share Foundation
- requests to reverse CTF subscriptions
You should address any enquiries about this bulletin to savings.audit@hmrc.gsi.gov.uk
Please ensure the appropriate people in your organisation read this bulletin.
1. Child Trust Fund (CTF) annual subscription limits
The subscription limit for Child Trust Fund and Junior ISA accounts will increase to £4,260 from 6 April 2018.
2. The Share Foundation
The CTF guidance for providers has been updated to reflect that from 1 October 2017, responsibility for managing the CTFs of looked after children transferred from the Official Solicitor/Accountant of Court to The Share Foundation; a charity appointed under contract by the Secretary of State at the Department for Education (DfE).
The Share Foundation also manages the Junior ISAs for looked after children under a contract with DfE. The Share Foundation has responsibility for those CTF accounts managed by the Official Solicitor/Accountant of Court as at 30 September 2017 and for the accounts of those children who were looked after as at 30 September 2017 but the Official Solicitor/Accountant of Court had not been notified.
The Share Foundation will also be responsible for managing the CTF of children where they have been looked after for any continuous period of 12 months or more from 1 October 2017.
3. Amendments to guidance on requests to reverse CTF subscriptions
HMRC has amended section 11.8 of the CTF guidance for providers when a CTF provider receives a request to reverse a CTF subscription made in error into a child’s CTF account.