HMRC Issues Urgent Call to 758,000 Young People Owed £2,242 Each
HM Revenue and Customs has issued a new message targeting 758,000 individuals in a specific age group, urging them to claim an average of £2,242 from unclaimed Child Trust Funds. This appeal coincides with National Apprenticeship Week, running from February 9 to 15, 2026, highlighting how these funds can provide crucial financial support for young apprentices and others starting their careers.
What Are Child Trust Funds?
Child Trust Funds are long-term, tax-free savings accounts established for children born between September 1, 2002, and January 2, 2011. The government initially deposited at least £250 into each account. Young people gain control of their account at age 16, and upon turning 18, the account matures, allowing them to withdraw the money or reinvest it as they choose.
Why This Matters Now
With hundreds of thousands of apprentices under 24 across the UK, HMRC's data reveals that many are missing out on this financial boost. The average unclaimed Child Trust Fund holds £2,242, which could significantly aid with expenses such as university costs, accommodation deposits, or essential purchases for new apprentices.
A Success Story: Hope Kerr-Williams
Hope Kerr-Williams, a 22-year-old apprentice from Nottingham, claimed her Child Trust Fund at age 18. She discovered the account as a teenager, thanks to her parents who informed her about the investment and an inheritance paid into it. By the time she claimed it, the fund was worth £5,000.
Hope used the money to cover expenses when she started university in Sheffield. "I used it to put a deposit down on my flat, pay the first month's rent, and buy essentials for my accommodation," she explained. "I also bought a laptop for my course. Having my Child Trust Fund saved me from going into an overdraft or borrowing money."
Now working as an apprentice at HMRC, Hope is undertaking a Level 4 PR and Communications Apprenticeship. She encourages others to claim their funds, stating, "It gave me independence and a great start to adult life."
How to Find and Claim Your Child Trust Fund
For young adults who know where their Child Trust Fund is held, contacting the savings provider directly is the first step. For those unsure, the quickest method is to use the GOV.UK Child Trust Fund locator tool by searching "find my Child Trust Fund" online.
Myrtle Lloyd, HMRC's Chief Customer Officer, emphasized, "Whether young people are on an apprenticeship, starting their first job, or making plans to go to university, a Child Trust Fund can make all the difference."
Practical Steps for Claiming
- Use the GOV.UK locator tool with your National Insurance number and date of birth.
- If you don't have your National Insurance number, download the HMRC app to access it and store it digitally.
- Nearly 1.7 million young people under 25 have already downloaded the app, which also provides access to PAYE details, tax codes, and employment history.
This initiative aims to ensure that young people do not overlook these valuable savings, which can provide a financial foundation as they embark on apprenticeships, higher education, or employment. Further information is available on GOV.UK.
