Could you receive a letter saying you’re owed £2,000?

Imagine a letter landing on your doormat telling you there’s up to £2,200 with your name on it? It might sound like wishful thinking but it’s happening right now.

HMRC is contacting households across the UK to alert people to forgotten child trust funds (CTFs).

If you’re around 21, or have a child who is, you, or they, could be sitting on a decent chunk of cash without realising.

You might have money waiting for you

Around 750,000 CTF accounts are still unclaimed. On average, each one holds about £2,200.

That’s money that was set aside years ago, and in many cases, it’s grown quietly over time.

Why you might get a letter

HMRC is now writing to young people, mostly those aged 21, to help reunite them with their money.

If you receive a letter, it means there’s a strong chance you have a CTF that hasn’t been claimed yet.

What is a child trust fund?

CTFs are tax-free savings accounts set up for children born between 1 September 2002 and 2 January 2011.

Here’s how they worked:

• the government gave each child £250 to start
• some children received an extra £250, for lower-income families or those in care
• family and friends could add up to £9,000 a year
• the money was locked away until age 18

Even if no extra payments were made, many accounts have grown significantly thanks to interest.

Don’t pay to find your money

Some companies offer to track down your CTF, but they charge fees, sometimes as much as £350 or 25% of your savings.

You don’t need them.

You can find your account for free using the official government tool. All you need is your national insurance number and date of birth.

In fact, in 2024 alone, more than 450,000 people successfully tracked down their funds this way.

What you should do now

If you’re unsure whether you have a CTF, take a few minutes to check.

Because if you do, you could be just a simple search away from claiming money that’s already yours.