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What happens when the Right Start Saver account holder turns 16?
From the age of 16, the account must be held in the name of the young person. They’ll also need to complete a new tax status form, if the funds are to remain non-taxable. We’ll be in touch to remind you to return the form. If we don’t hear from you, the account will be made taxable at the end of the tax year in which the young person is 16.
More from the same category of FAQs:
- Can I deposit my Child Trust Fund with you?
- Can I change my Right Start Saver into a Triodos Ethical Junior Cash ISA account?
- When happens when the Right Start Saver account holder turns 18?
- What ID do I need?
- Who can open an account for a child?