HMRC Child Trust Fund alert

HMRC is launching a major drive to contact thousands of young people who have unclaimed Child Trust Funds worth an average of £2,200.

More than £1.5 billion is currently sitting in forgotten accounts across the UK, belonging to individuals born between 2002 and 2011.

The tax authority is working with banks to identify account holders who have reached adulthood but have not yet accessed their savings.

This awareness campaign aims to ensure that eligible young people receive the financial boost intended by the government scheme.