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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

To be annoyed with HMRC re. Child Trust Fund

83 replies

Emprexia · 11/01/2008 15:02

I didn't bother setting up the Child Trust Fund for DS because i didnt want it, and don't agree with trust funds.. savings accounts are much more useful.

DS is 16mo old and this morning i got a letter from RBS saying that HMRC has instructed them to set up a fund in DS's name, and that they'd be sending me the details.

Only it was address to my Maiden Name.. i've been married 3.5 years.. i called them to let them know of the error, and they said the only way they can change it is for me to either send them my marriage certificate, or go into an RBS branch and have them take a copy.

so... let me get this straight, you want me to send you my marriage certificate so you can change my INCORRECT details on a Child Trust Fund account i do not want and did not ask you to set up.

Yeah.. right.

OP posts:

MamaD · 11/01/2008 16:28

Kaishay,

Can you not send a copy of the marriage cert? Or will they not use the electronic ID thing (when I wanted to change my drivers licence I didnt need to send off my marriage cert as I had a passport and they could check my elecronic ID because of it)

Where in Shropshire are you? There are branches in Telford, Shrewsbury, Whitchurch and Ludlow.......

TheIceQueen · 11/01/2008 16:29

DS2's £250 has is now worth over £300 (can't remember exact amount - think it's about £340) - and he's still only 4.........so although we're not adding to it I'm rather pleased that HE will have that money there for him when he turns 18,

No different really to if someone dies and leaves your child some money - they wouldn't be able to touch it until they're 18....

SueBaroo · 11/01/2008 16:30

Yes, how kind of HMRC to give us this charitable donation that they magicked up from Gordon Brown's personal savings.

My arse. I won't say no, but I'm not having this nonsense about the government giving my children some of my taxes being some sort of 'free money'

Kaishay, YANBU to be annoyed about incompetence over you personal details.

Original poster

Emprexia · 11/01/2008 16:31

i'm in the middle of no-where, lol.

I can get to Telford, but my car is out of action so it means using PT, which with current health problems i have just isn't possible.

Weekends when DH could take me, the branches are closed.

Its the whole inconvenience of it thats annoyed me more than anything else. Especially considering all previous CTF info has always arrived addressed correctly.

OP posts:

Original poster

Emprexia · 11/01/2008 16:34

My sentiments exactly Suebaroo. It isn't 'free' money.. its come out of the taxes myself and DH have been paying.

I'm not convinced that in 18years time it'll be worth what they're claiming either

OP posts:

Desiderata · 11/01/2008 16:39

Jeez, you must be minted to complain about getting £250 for your child ... plus a further £250 when he's seven.

I work hard to put money into my son's trust fund every month ... and when he's eighteen he's on course to receive £20K plus ... so no, I don't think it's a shit idea personally. It's more money than I've ever dreamed of, and I'll wish him well with it.

So if you don't want yours, can I have it?

TheIceQueen · 11/01/2008 16:44

I love this "its not free money its your tax"........I don't remember my tax bill increasing significantly to cover all these £250 CTF vouchers they handed out.....

SueBaroo · 11/01/2008 16:46

TIQ, who said anything about tax-rises?

Original poster

Emprexia · 11/01/2008 16:47

where do you think it came from Icequeen?

The goodness of Gordies Heart?

OP posts:

UniversallyChallenged · 11/01/2008 16:48

Mine have these and because the shares are invested on their behalf the money grows without you doing anythings.

The last info i got showed that they had an extra £30/40 already on top of their £250. they are 2 and 3 so if this goes on at the same rate by 18 they will have £900 approx each for me doing precisely nothing apart from opening up the fund.

Wisteria · 11/01/2008 16:48

I think you're a little strange - I would be irritated about the name change document but it's just a mistake, do you never make them?

As for 'not wanting' the £250 for your son - well that's not only barmy but totally not your choice. If they gave him 250 on his 18th birthday it would be worth considerably less than it will be if it's invested now.

I'm quite envious of you and wish my dcs had had that bonus - also it helps children to learn the value of saving and investing from an early age where previously they may not have had the opportunity.

lulumama · 11/01/2008 16:50

even so, Kaishsay, it was a mistake, and it was not personal, i bet HMRC made loads of mistakes with other peoples' applications!

i think you need to take a deep breath and just sort it, and then never speak of it again

TheIceQueen · 11/01/2008 16:51

of course it came from our taxes - BUT it's money you got back.......for doing absolutely nothing - so therefore in my book it's "free" as I didn't pay any extra for the privilege of my DS2 and 3 having a small pot of money available to them when they turn 18.

We can't afford to save right now, but even if we could there would be no guarantee that we would be able to save regularly until they're 18 - so without me doing a thing - apart from paying my regular tax my 2 younger DC will have something there.

MamaD · 11/01/2008 16:52

kaishay,

Ludlow and Whitchurch are open on a Saturday. I know its further away but at least you could get it sorted. YANBU to be annoyed with them, but I dont think you are going to get it sorted any other way.

Oblomov · 11/01/2008 17:19

It is free money.
Do you think you have been overtaxed ? Did you fill in your tax return correctly ? Are you PAYE and trust that your employer has calculated your pay correctly ? In which case you have been taxed correctly.
We choose to live in the Uk, and thus abide by the tax lawas - or else you move to Monaco.
How the government chooses to spend our money, often beggars belief, but that is their choice and the fact is you have to pay the tax.
If they give it back, in the form of a CTF, you should be grateful.
Clearly you are not.

HappyMummyOfOne · 11/01/2008 17:28

Like the OP I dont agree with the Governments CTF either. I ignored my voucher and they duly invested it somewhere - however they did get my name right. Just remembered probably never changed the address when we moved.

I dont think it promotes saving from a young age, children and teenagers can be taught to save without a CTF. Most people like access to their savings not have it tied up for 18 years.

The reason I dont agree with the fund is that the governments idea is you use it to fund higher education - for a start a £1000 wont even cover the first year but students wouldnt have to pay if the government didnt introduce the fees in the first place!

Whilst some people like the CTF some dont, the OP seems to be getting a hard time for not agreeing with the majority.

Wisteria · 11/01/2008 17:47

Yes but not all children are lucky enough to be born into a family where saving is either possible or promoted - at least this gives an opportunity.

Original poster

Emprexia · 11/01/2008 17:53

Yes wisteria, but it doesn't make me or anyone who doesn't agree with it the Debil.

just because i dont see the point in it doesn't stop anyone else from investing their and doing what they feel best with it.

i think the attitude of 'you'll have it wether you want it or not' is silly.

I always believed it was something there for you to use IF you wanted to do it.

OP posts:

foofi · 11/01/2008 17:57

I've only read the op. I can't believe you're making a fuss when they're trying to give your child £250. My dcs were both born before these funds were set up, so they both got nothing. Now that's something to complain about.

Wisteria · 11/01/2008 18:40

presume you mean devil and I can't see anywhere that my posts give the impression that I think you are!

I just think it's a remarkably daft attitude to say you don't want it and it's not for you but for your son - that's the point you seem to be missing.

TheIceQueen · 11/01/2008 18:46

"Most people like access to their savings not have it tied up for 18 years"

yes - but its not different to money left to a someone under 18 in someones will - they still can't get hold of that until they're 18.

SueBaroo · 11/01/2008 18:58

I don't have to have been over-taxed for it to be paid for by my taxes. I'm frankly baffled by that idea.

As I said, I'm certainly happy to take it, given that it does come out of duly paid taxes. The same as I am happy to take CB and Tax credits.

But if I had no choice but to pay a levy to someone, I wouldn't consider it 'free money' if they then chose to give me some of it back to me. But I am just being nitpicky now.

TheIceQueen · 11/01/2008 18:59

yes you are SueBaroo (picky that is)

SueBaroo · 11/01/2008 19:02

lol. I wrote that out with children clamouring to go up for a bath, and when I pressed send I thought "Erm, why are you arguing about semantics"

Oh, I do love time-of-the-month testiness

PersephoneSnape · 11/01/2008 19:02

my children are 12, 9 and 8. no one is giving them free money and i'd happily take that opportunity for them, even if they mis-spelt my name as imelda blinkin' marcos on the forms. YAB very U

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