Child Tax Fund changes
New regulations will come into force on 6 April 2009 to simplify the process for opening a Child Tax Fund (CTF) account. The new regulations will remove the requirement for CTF providers to collect a voucher from the children’s parents before opening an account.
The change follows representations from CTF providers that the removal of this requirement would simplify the account opening process and increase the account opening rate.
The new regulations will apply to applications to open an account made before 6th April 2009 where the account has not been opened until on or after 6 April 2009 and all future applications to open an account made on or after 6th April 2009.