£250 you get for baby.

[Hazel]

Anyone know what I do when baby is born about claiming this. Do I need to ring someone and send birth certificate?

Is it sent in a cheque or do I have to have an account no. for her already.

How did you all choose which account to use as I looked at Tesco and they charge 1.5% handling fee per year. I want to be able to add to it over the years and can do a max of £1200 per year into it. Is there tax on this as she'll be under age to pay tax.

 

[Sherlock]

Go here and read up on it all

http://www.thechildrensmutual.co.uk/def ... =ptnemdg11

Pretty straighforward

 

[loz]

Hi Hazel,

you dont have to do anything, it gets sent to you. You should receive a letter and then after that the voucher will be sent to you. All the information about the different accounts is also sent to you. They are mainly building societies that have the child trust fund accounts.

You get a choice of if you want to put the money in a savings account or shareholder account etc.

Have a think as well if you want to put lots of money in that account or open your own one as well as when your little one hits 18 they will be able to get all the money and you wont be able to do anything about it!!!

The trust fund accounts are tax free which is a big advantage.

 

[LisaJ1986]

It only took about 2 weeks after my child benefit was sorted before i got a pack. They said to expect my voucher with 10 days, it came the next day. I have no idea though where the best place to put it.

 

[Hazel]

Thanks girls.

I'll have a good look at that link you put up Sherlock.

After reading the small print on these leaflets I'm going to have to have a good think about where to put it as there are hidden charges.

 

[soverign]

Mine came through the post pretty much as soon as he was born but I haven't done anything with it as I forgot about it. Just found it today as I was clearing out my paperwork! opps!

 

[Bee]

I'm still wiating for mine