Clause 15 - Information from account providers etc.
Child Trust Funds Bill
9:45 am
Mr Joe Benton (Bootle, Labour)
With this it will be convenient to discuss the following:
Amendment No. 62, in
clause 15, page 8, line 12, after 'fund', insert—
'(ee) anyone responsible for the determination of matters specified in section [income disregard for purposes of income-related benefits, etc.](2),'.
New clause 3—Income disregard for purposes of income-related benefits, etc.—
'(1) In determining the matters specified in subsection (2), no regard shall be had of income and gains arising on—
(a) Inland Revenue contributions to,
(b) subscriptions to, and
(c) investments under
a child trust fund.
(2) Those matters are—
(a) eligibility for,
(b) entitlement to, and
(c) levels of
the benefits and credits specified in subsection (3) in respect of the holder of a child trust fund.
(3) The following are specified in this subsection—
(a) child tax credit,
(b) Council Tax benefit,
(c) housing benefit,
(d) income support,
(e) income-based jobseeker's allowance, and
(f) working tax credit.'.
New clause 8—Income disregard for purposes of benefits and tax credits—
'The value of a child trust fund will be wholly disregarded with respect to the calculation of entitlement to all benefits and tax credits in respect of—
(a) the parents of children holding child trust funds,
(b) children holding child trust funds, and
(c) persons holding child trust funds who are aged 18 or over.'.