All eligible children born on or after 1 September 2002 will receive a further payment from the Government of £250 into their Child Trust Fund (CTF) accounts at age 7. Children in families who qualify for full Child Tax Credit (CTC) with an income below the CTC threshold on the child's 7th birthday will qualify for an additional £250.
These payments will be made direct into the child's CTF account.
To qualify the child must be:-
- in receipt of Child Benefit
- have a CTF account and
- be living in the UK on their 7th birthday.
These payments from the Government will not count towards the annual £1,200 limit.
