Individuals throughout the UK born between 2002 and 2006 are being urged to assert £2,200 from His Majesty’s Income and Customs (HMRC).

The federal government physique has issued a reminder to anybody who falls into this age class to money of their Little one Belief Fund because it could possibly be price 1000’s.

Little one Belief Funds are long-term tax-free financial savings accounts that had been arrange for youngsters born between September 1, 2002 and January 2, 2011.

As much as 9,000 per yr might be added to an current account and the cash belongs to the kid, though they’ll begin withdrawing funds from it as soon as they flip 18.

When a baby turns 18 the Little one Belief Fund matures they usually routinely take over the account, and no extra money might be added.

They then have the choice to both take out the cash or switch it to an grownup ISA, and the Little one Belief Fund will then shut. However till the cash is withdrawn or transferred, it stays in an account that nobody else has entry to.

The Little one Belief Fund scheme closed in 2011 however HMRC is urging anybody who nonetheless has one in all these accounts, and has now turned 18, to money it in because it could possibly be price as much as £2,200.

In a put up on X, HMRC stated: “In case your baby is between the ages of 18 and 22, they’ll money of their Little one Belief Fund. The typical quantity claimed is £2,200. Discover out extra on GOV.UK.”

To trace down a Little one Belief Fund, you may contact the fund supplier straight if you already know who the account is with, or if not, you may ask your guardian or guardian.

You can even ask HMRC to discover a belief fund they usually can inform you the place the account was initially opened. To do that you have to be:

You’ll be requested to supply your Nationwide Insurance coverage quantity and if you happen to’re a guardian or guardian in search of a baby’s belief fund, you’ll want:

• the kid’s full identify, handle and date of delivery

• any earlier names you or the kid have used

You must get a letter from HMRC with particulars of the Little one Belief Fund supplier inside three weeks of the federal government division receiving your request. If you happen to don’t you may write to HMRC and embrace your reference quantity if in case you have one.

You can even use the on-line type to ask HMRC the place the belief fund is, or request the small print by put up to the next handle: Charities, Financial savings and Worldwide 1, HMRC, BX9 1AU.

You must obtain a letter from HMRC with particulars of the Little one Belief Fund supplier inside three weeks of HMRC getting your request. If you happen to’ve adopted a baby or a courtroom has given you parental accountability for them, you’ll get a letter asking for extra data.