Can I open more than one CTF account and spread the money between different types of account?
A. No, each child has only one CTF account. But there are different CTF accounts so you will be able to choose the type of account you think best. Back to top Q. What happens if I don’t open a CTF account? A. If you don’t open a CTF account before the expiry date on the voucher then HM Revenue & Customs (HMRC) will open one for your child. But remember, the sooner you open an account, the sooner your child’s money has the chance to grow. It is best that you choose the account that you believe best meets your child’s needs. Back to top Q. Why will HM Revenue & Customs (HMRC) open an account for my child if I don’t want one? A. The CTF has been introduced to ensure that all children in future have a financial asset at the start of their adult life. The Government does not believe that it is fair for some children to miss out on their entitlement to a CTF account. It is for the child to decide at age 18 when they reach adulthood and the account matures if they wish to use the assets in th
