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The Child Trust Funds Regulations 2004

S.I. 2004/1450 · Made 27 May 2004 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 6 April 2026.

CHILD TRUST FUNDS

Made 27th May 2004

Laid before Parliament 27th May 2004

Coming into force in accordance with regulation 1

The Treasury, in exercise of the powers conferred upon them by sections 3(1) to (5) and (7), 5(1), (4) and (5), 6, 7, 8(1), 9(2) and (10)(b), 11(1), 12(2), 13, 15, 16, 23(1) and 28(1) to (4) of the Child Trust Funds Act 2004 M1, hereby make the following Regulations:

Annotations to the whole text

Marginal citations

M1

2004 c. 6.

Contents

  1. Part 1: Introductory
  2. 1Citation and commencement
  3. 2Interpretation
  4. 3Vouchers
  5. 4Descriptions of accounts
  6. 5Opening of account by responsible person or the child
  7. 6Opening of account by Inland Revenue—(Revenue allocated accounts)
  8. 7Government contributions
  9. 7AAge 7 payments Repealed
  10. 7BYearly disability payments
  11. Part 2: Other requirements to be satisfied in relation to accounts
  12. 8General requirements for accounts
  13. 9Annual limit on subscriptions
  14. 10Statements for an account
  15. 11General investment rules
  16. 12Qualifying investments for an account
  17. 13Conditions for application by responsible person or the child to open an account (and changes to an account)
  18. 13AMaturity of child trust fund - instructions
  19. 13BMaturity of child trust fund - no instructions
  20. 13CMatured CTF Account
  21. 14Account provider—qualifications and Board’s approval
  22. 15Account provider—appointment of tax representative
  23. 16Account provider—withdrawal by Board of approval
  24. 17Account provider—appeal against non-approval or withdrawal of Board’s approval
  25. 18Permitted withdrawals from an account
  26. 18APermitted withdrawals from an account where the child is terminally ill
  27. 19Account provider’s intention to make a bulk transfer of accounts or to cease to act as an account provider
  28. 19AAccount provider ceasing to accept Revenue allocated accounts
  29. 20Account provider ceasing to qualify
  30. 20ATransfers to other accounts for children
  31. 21Transfer of accounts ....
  32. 22Recoupment of Inland Revenue contributions to void accounts (and other accounts)
  33. 23“Repair” of invalid accounts
  34. Part 3: Tax and administration of accounts
  35. 24Exemption from tax of account income and gains
  36. 25Tax liabilities and reliefs—account provider to act on behalf of the named child
  37. 26Repayments in respect of tax to account provider—interim tax claims
  38. 27Repayments in respect of tax to account provider—annual tax claims
  39. 28Account provider’s tax claims—supplementary provisions
  40. 29Assessments for withdrawing relief and recovering tax
  41. 30Fortnightly claim and financial returns Repealed
  42. 31Records to be kept by account provider
  43. 32Returns of information by account provider
  44. 33Information about “looked after children” from Local Authorities Repealed
  45. 33AThe person appointed by the Treasury or the Secretary of State by virtue of section 3(10) of the Act to be the person who has the authority to manage an account
  46. 34Information to be provided to the Board Repealed
  47. 35Inspection of records by officer of the Board Repealed
  48. 36Capital gains tax—adaptation of enactments
  49. 37Administration of tax in relation to accounts—supplementary
  50. 38Application of the provisions of Chapter 2 of Part 13 of the Taxes Act and of Chapter 9 of Part 4 of ITTOIA 2005 to policies
  51. Signature
  52. Schedule: STAKEHOLDER ACCOUNTS
  53. Part: Description of stakeholder account
  54. 1Paragraph 1
  55. Part: Characteristics of stakeholder account etc
  56. 2Paragraph 2
  57. Part: Stakeholder accounts—charges etc
  58. 3Paragraph 3
  59. Explanatory note