What to do next

Step 

Once you have decided which CTF account to open, all you need to do is fill in your provider's application form and take or post it to them, along with your voucher. Some providers will let you open an account by phone or online.  Remember to find out what else you need to take, like ID.

What else should I remember?

• Let family and friends know you have opened an account for your child, so they can contribute as well. Remember the maximum that can be put into an account each year is £1,200. (Government payments don’t count towards this limit.)
• You can always move your fund to a new type of account or a new provider if you're not satisfied. There is no charge for this but you may have to pay for the cost of buying and selling shares — so check with your provider first.
• No matter what type of account you choose, neither you nor your child will pay tax on the money earned.
• If you'd like some extra advice you can always speak to a voluntary organisation, such as your local Citizen's Advice Bureau, or to an Independent Financial Adviser (IFA). To find an approved IFA near you go to www.ifap.org.uk - but be aware there may be a charge for this.