£242m CTF tax breaks to be wasted 2008

This figure has almost doubled since 2007, when £125m in tax breaks were unused, says the website. The research also found, three quarters of eligible children have had a CTF opened for them. However, only a quarter of those opened since 2005 have recorded additional deposits. If however half of the remaining accounts received the maximum funding, the amount of additional tax saving would equate to an overall tax waste saving of £242m, says Unbiased. David Elms, chief executive of Unbiased.co.uk says, despite the government introducing CTFs as a way of helping parents plan for their c...