Sixty-Seventh Report - Child Trust Funds
Select Committee
Public Accounts Committee
HC 1231
26 July 2023
Recommendations
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Conclusions (1) Observations and findings — click to expand
5
Conclusion
Acknowledged
HMRC does not collect the data from providers needed to plan timely action to improve young people’s engagement with their accounts and assess whether its actions are working. HMRC’s understanding of Child Trust Fund accounts that have matured but are yet to be claimed is nearly two years out-of-date: its …
Government Response Summary
The government agreed, stating the recommendation is implemented. HMRC has reviewed its awareness and tracing strategy, is confident in its current approach, and will continue to explore new routes and monitor unclaimed accounts to determine when further intervention is appropriate.