The Child Trust Funds Regulations 2004

1. Introductory Text

2. PART 1 Introductory

   1. 1. Citation and commencement

   2. 2. Interpretation

   3. 3. Vouchers

   4. 4. Descriptions of accounts

   5. 5. Opening of account by responsible person or the child

   6. 6. Opening of account by Inland Revenue—(Revenue allocated accounts)

   7. 7. Government contributions

   8. 7A. Age 7 payments

   9. 7B. Yearly disability payments

3. PART 2 Other requirements to be satisfied in relation to accounts

   1. 8. General requirements for accounts

   2. 9. Annual limit on subscriptions

   3. 10. Statements for an account

   4. 11. General investment rules

   5. 12. Qualifying investments for an account

   6. 13. Conditions for application by responsible person or the child to open an account (and changes to an account)

   7. 13A. Maturity of child trust fund - instructions

   8. 13B. Maturity of child trust fund - no instructions

   9. 13C. Matured CTF Account

   10. 14. Account provider—qualifications and Board’s approval

   11. 15. Account provider—appointment of tax representative

   12. 16. Account provider—withdrawal by Board of approval

   13. 17. Account provider—appeal against non-approval or withdrawal of Board’s approval

   14. 18. Permitted withdrawals from an account

   15. 18A. Permitted withdrawals from an account where the child is terminally ill

   16. 19. Account provider’s intention to make a bulk transfer of accounts or to cease to act as an account provider

   17. 19A. Account provider ceasing to accept Revenue allocated accounts

   18. 20. Account provider ceasing to qualify

   19. 20A. Transfers to other accounts for children

   20. 21. Transfer of accounts ....

   21. 22. Recoupment of Inland Revenue contributions to void accounts (and other accounts)

   22. 23. “Repair” of invalid accounts

4. PART 3 Tax and administration of accounts

   1. 24. Exemption from tax of account income and gains

   2. 25. Tax liabilities and reliefs—account provider to act on behalf of the named child

   3. 26. Repayments in respect of tax to account provider—interim tax claims

   4. 27. Repayments in respect of tax to account provider—annual tax claims

   5. 28. Account provider’s tax claims—supplementary provisions

   6. 29. Assessments for withdrawing relief and recovering tax

   7. 30. Fortnightly claim and financial returns

   8. 31. Records to be kept by account provider

   9. 32. Returns of information by account provider

   10. 33. Information about “looked after children” from Local Authorities

   11. 33A. The person appointed by the Treasury or the Secretary of State by virtue of section 3(10) of the Act to be the person who has the authority to manage an account

   12. 34. Information to be provided to the Board

   13. 35. Inspection of records by officer of the Board

   14. 36. Capital gains tax—adaptation of enactments

   15. 37. Administration of tax in relation to accounts—supplementary

   16. 38. Application of the provisions of Chapter 2 of Part 13 of the Taxes Act and of Chapter 9 of Part 4 of ITTOIA 2005 to policies

5. Signature

6. 1. SCHEDULE

      STAKEHOLDER ACCOUNTS

      1. Description of stakeholder account

         1. 1. An account is a stakeholder account where it has the...

      2. Characteristics of stakeholder account etc

         1. 2. (1) A stakeholder account must have the characteristics set out...

      3. Stakeholder accounts—charges etc

         1. 3. (1) Deductions from a stakeholder account may only be made...

7. Explanatory Note