The Child Trust Fund is part of a Government plan to encourage people to give children a better start in life. If you claim child benefit for a child born after September 2002, you're automatically eligible for a voucher for at least £250 to open a Child Trust Fund account.

The initial payment is just the first step - you can pay up to £1,200 every year into the plan and any growth in the value of the plan is entirely tax free. What's more, when the child reaches the age of 18, they can use the money as they wish.