A Child Trust Fund (CTF) is a long-term tax-free savings account for children.

You cannot apply for a new Child Trust Fund because the scheme is now closed. You can apply for a Junior ISA instead.

This guide is also available in Welsh (Cymraeg).

If you already have a Child Trust Fund

You can continue to add up to £9,000 a year to your CTF account. The money belongs to the child and they can only take it out when they’re 18. They can take control of the account when they’re 16.

There’s no tax to pay on the CTF income or any profit it makes. It will not affect any benefits or tax credits you receive.