People Can Claim £2,200 from HMRC

The average account has up to £2,200 waiting to be claimed.

Many people can get thousands of pounds from HM Revenue and Customs. They just need to follow a few simple steps.

HMRC said that people turning 18 this year could have £2,200 in a Child Trust Fund. People born in 2008 or earlier can also claim.

A Child Trust Fund is a long-term savings account for children born between 2002 and 2011. The UK Government started these accounts during Tony Blair's time.

The account belongs to the child. Parents help manage it until the child is 16.

These accounts started with £250 from the UK government. Anyone can add money to a Child Trust Fund, up to £9,000 per year.

If you know your Child Trust Fund provider, contact them directly. If not, ask your parents or HMRC for help.

You need your National Insurance number to start.

Adopted children born between 2002 and 2011 have a Child Trust Fund account. The government may have opened it with an initial deposit.

HMRC reminded young people to claim their money.

You can ask HMRC to find your Child Trust Fund provider for free.

When you turn 18, you can contact the provider to get your money. They will verify your identity first.

At 18, you can claim and control your money. You can withdraw it or put it into a tax-free Adult ISA or Lifetime ISA.

COPYRIGHT DISCLAIMERS

4English does not own the rights to this content. All rights belong to the owner. 4English only uses this content to help users learn English via the app's features. Contact to request the removal of your content: contact@4englishapp.com.

Latihan mendengarkan