Guidance

CTF Bulletin 85

Published 31 July 2018

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This publication is available at https://www.gov.uk/government/publications/child-trust-fund-ctf-bulletin-85/ctf-bulletin-85

This bulletin provides information on CTF annual return of information to HMRC.

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.

Under CTF regulation 32, CTF account providers are required to make a return of information to HMRC within 60 days of the 5 April each year, that is by 4 June, or within 60 days of the date of ceasing to qualify, or act, as a provider.

Providers must report details of all CTFs they managed during the return period including CTFs transferred in and where the child has died.

Providers do not report details of CTFs transferred out to another provider.

The annual CTF return can only be submitted to HMRC electronically.

The return must include details for each CTF account managed during the return period;

  • The child’s unique reference number
  • If the account is a stakeholder account (Type 1) or a non-stakeholder account (Type 2)
  • Whether or not there is a registered contact for the account
  • The aggregate market value of the investments held under the account at 5 April.
  • The total cash subscribed to the account during the return period ending on 5 April.

Chapter 13 of HMRC’s Guidance Notes for CTF providers sets out how providers should complete their annual returns.

Technical assistance for CTF providers to submit their electronic return to HMRC is available from martyn.broadley@hmrc.gsi.gov.uk

If you have not submitted an annual CTF return of information to HMRC for 2017 to 2018 then you are still required to submit your return as soon as possible.

Failure to submit a CTF return can lead to a penalty.

In order to do this, please send an e-mail to savings.audit@hmrc.gsi.gov.uk by 10 August 2018, confirming how many CTF accounts you managed at 5 April 2018 and explaining why you have not submitted your return of information.

If you have successfully submitted your 2017 to 2018 CTF return of information to HMRC then no further action is required by you.

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