HMRC alert as Brits born between two dates ‘sitting on unclaimed cash’

HMRC alert as Brits born between two dates ‘sitting on unclaimed cash’In an alert, the tax authority stated that anyone born between these dates could have a savings account awaiting themCommentsMoneyRory Poulter04:00, 21 Apr 2026View 2 ImagesCTFs were automatically created for qualifying children(Image: Mirjana Pusicic via Getty Images)Young people are being encouraged to check if they're unknowingly sitting on a sum of money - as HMRC warns that thousands of Child Trust Funds remain unclaimed.‌In an alert, the tax authority stated that anyone born between September 1, 2002 and January 2, 2011 could have a savings account awaiting them - potentially worth hundreds or even thousands of pounds. These accounts, called Child Trust Funds (CTFs), were established by the Government to provide children with a financial boost - but many have since been forgotten or lost.‌View 2 ImagesYoung people are being encouraged to check if they're unknowingly sitting on a sum of money(Image: Liubomyr Vorona via Getty Images)‌Millions of accounts still unclaimedCTFs were automatically created for eligible children, often with an initial Government contribution, and could then be added to by family and friends.However, HMRC says vast numbers of young adults - particularly those who have recently turned 18 - may not be aware the money is theirs to claim. Once the account holder reaches 18, they can access the funds in full, with no tax to pay on any interest or gains.Content cannot be displayed without consent‌How much could be available?The value of each fund differs depending on contributions and investment performance, but some accounts could now be worth substantial amounts.Parents were permitted to contribute up to £9,000 annually, meaning long-established accounts may have accumulated sizeable balances over time.Importantly, the money belongs exclusively to the child, and cannot be accessed until they reach adulthood - although they can assume control of the account from...