Source · Select Committees · Public Accounts Committee
Recommendation 15
15
HMRC inaccurately considers Child Trust Fund scheme ended despite its ongoing active status.
Conclusion
HMRC regards the Child Trust Fund policy as having “ended in 2011”, and as an “old scheme” as opposed to an existing scheme.22 This is despite the scheme being very much live, as most young people who benefitted from the scheme have not yet reached the age at which they can access their Child Trust Fund.23
Government Response
A response document is linked to this report, dated 24 September 2023. Response attribution to this conclusion has not been verified. Read the response document ↗