REPORT - Investigation into Child Trust Funds - HM Revenue & Customs

Investigations We conduct investigations to establish the underlying facts in circumstances where concerns have been raised with us, or in response to intelligence that we have gathered through our wider work. This report covers Child Trust Funds: tax-free, long-term savings accounts for 6.3 million children born between 1 September 2002 and 2 January 2011, into which the government paid £2 billion. We examined HM Revenue & Customs’ management of the Child Trust Fund scheme from 2005 to date, how it is supporting young people to access their funds once they reach 18 years old, and what it is doing to understand how many children have lost track of their accounts.