The CTF is a savings and investment account for children. The Government will make payments to children through this account to help build up a useful stock of assets for when they reach the age of 18. The CTF accounts will help to strengthen the savings habit of future generations, spread the benefits of assets ownership to all, educate people in the need for savings and give young people a basic understanding of financial products.

CTF accounts will be available from April 2005 for eligible children born on or after 1 September 2002.

The Inland Revenue will donate a £250 voucher when opening up your child's account and will be followed by a further £500 voucher when the child reaches 7 years of age.

Contributions to the trust fund may be made by friends and family up to £1200 per year, the interest of which will be free of tax. To read more please visit http://www.inlandrevenue.gov.uk/ctf/