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Why has the CTF been allocated to Pilling & Co?

The CTF voucher the HMRC sent to you is only valid for 12 months. After the expiry date the HMRC randomly allocate all such CTFs to providers who are registered to receive these accounts.
 

Do I need to do anything?

No. Pilling & Co has set up the CTF account and will invest and look after the CTF for you and your child.
 

What if I have already sent my CTF voucher to another provider?

You should contact the other provider to ensure they have been able to open the CTF with your voucher. If they have you should inform the HMRC CTF helpline on 0845 302 1470. Only one CTF account is permitted per child and we cannot reject an allocated account from HMRC, it is their decision which CTF needs to be closed.

What will you invest the money into?

We will invest the money in the SG Balanced Managed Fund. The aim of the fund is to provide capital growth over the long term. Additionally, the fund meets the high criteria standard set by the HMRC.
 

How can I find out more about the SG Balanced Managed Fund and your CTF?

You can visit here where further details of both the fund and our CTF are available.
 

How will I know how the CTF is performing?

On or around the child’s birthday each year we will send (care of yourself) a statement of the CTF showing the current and previous year’s value so you can see how the fund is performing.
 

Who can be the registered contact?

Only the person with parental responsibility for the child.
 

How do I become the registered contact?

Its simple, just complete the enclosed registration form and send it to us.
 

Can there be more than one registered contact?

No. there can be only one registered contact per CTF.
 

Can additional contributions be made?

Yes. Family and friends can contribute up to £1200 each year to the fund.
 

Will the government put in an amount each year?

No, they have made the initial contribution and may contribute further when the child reaches 7 years old.
 

What are the annual costs of a stakeholder CTF?

A maximum of 1.5% per annum of the value of the CTF is charged. This is charged within the fund the CTF is invested in and will not show on your statement from us.
 

What are the dealing charges for a stakeholder CTF?

Pilling does not charge for the purchase when we receive commission from the managers of the fund we have chosen. There is no charge if sales are made by us to change the fund the CTF is invested in. Sales to facilitate a transfer to another provider will be charged at our normal rate of 1.65% with a minimum of £10.
 

Can I transfer the CTF to another provider?

Yes. Once you are the registered contact, you may select an alternative provider to look after the CTF. The investments will be sold and any cash will be sent to the new provider. You will need a transfer form which you should obtain from your new CTF provider.
 

Can I close the CTF and withdraw the funds?

No. The CTF remains open and funds may not be withdrawn until the child is 18.
 

What happens if our address has changed since the voucher was issued?

Simply inform us in writing of your new address, however, you must be the registered contact to do this.
 

What is a non stakeholder CTF?

A non stakeholder CTF enables the registered contact to choose the investments themselves on an execution only basis. If you wish to make your own investment decisions, you can switch to a Pilling non stakeholder CTF providing you are registered as the registered contact.
 

Can I open a CTF for my child born before the 1st September 2002?

No. However, Pilling & Co have recognised this dilemma for parents and have created a “Shadow Stakeholder CTF”. This allows you to invest the same amount (or more) for your other children. Like the Stakeholder CTF, it will be invested in the SG Balanced Managed fund at the same terms as the CTF. For further details of the “Shadow Stakeholder CTF” please click here.

To view the main section of our website on Child Trust Funds click here.