The figures published in Annex C of the HM Revenue and Customs Annual Report show the cost in pence of each pound of child benefit and Child Trust Fund. These figures are produced by commissioning analysis of costs across the Department, under the tax and benefit categories that have been reported in the Annex. It is not possible to analyse any of these costs further without commissioning additional work across the Department. As a result a detailed answer to this question can be provided only at disproportionate cost.
Annual charges on stakeholder accounts are limited to 1.5 per cent. of the value of the account. Charges on non-stakeholder share accounts are not capped, and will vary. HMRC do not keep records of the different charges levied by providers, but do urge parents to ask about such charges when choosing an account.
Up to the end of September 2006, HMRC had opened a total of just over 0.5 million accounts for children. These are stakeholder accounts allocated on a rotational basis among 14 providers. HMRC does not have access to information on the religious beliefs of parents. Parents have 12 months from the receipt of their voucher to open an account of their choice and Sharia and ethical accounts are available. They may also move any Government allocated account at any time. The CTF information booklet and website detail Shari’a compliant and ethical CTF accounts available.