Overview
- The long-term tax-free accounts were opened for every child born between 1 September 2002 and 2 January 2011 under a 2005 government scheme.
- Each account received an initial government payment of £250 or £500 depending on family circumstances.
- Money is held by banks, building societies or other providers, belongs to the young person, can be managed at 16 and withdrawn at 18.
- People aged 16 or over can search for their own account, and parents or carers can enquire on behalf of children under 18.
- Searches require identification details such as a National Insurance number or, for parents and carers, the child’s full name, address, date of birth and any previous names, and HMRC advises writing if no reply arrives within six weeks.