HMRC launches campaign for 750,000 Britons to claim £2,200 Child Trust Fund savings

HM Revenue & Customs (HMRC) has begun a nationwide drive urging more than 750,000 young people in the United Kingdom, born between 1 September 2002 and 2 January 2011, to locate and claim money held in dormant Child Trust Fund (CTF) accounts. The average unclaimed balance is about £2,200, with the total value of forgotten funds estimated at around £1.6 billion.

CTFs were tax‑free savings accounts set up by a previous Labour‑government scheme, with the state contributing a minimum of £250 per child and additional contributions for lower‑income families. Many account holders are unaware of the funds because paperwork was lost, families moved, or the accounts were never disclosed. HMRC directs people to the free online “Find my Child Trust Fund” tool on GOV.UK, which requires a name, date of birth, address and National Insurance number. The service typically replies within three weeks with details of the holding bank or building society.

HMRC also warned that it will only contact claimants by post and cautioned against unsolicited phone, text or email offers to trace CTFs, labeling such approaches as scams. The agency advises anyone receiving suspicious communications to forward them to the official scam reporting number 60599.