You may need to manage a Court Funds Office account for someone if you바카라 사이트檙e their property and affairs deputy and you바카라 사이트檙e authorised by the Court of Protection to look after money on their behalf. Check the court order that appointed you as deputy - it tells you what you바카라 사이트檙e authorised to do. You바카라 사이트檒l need to apply on behalf of the person you바카라 사이트檙e deputy for to: manage an account that was opened for them by court order, for example for money they received from a court case open an account for them They바카라 사이트檒l get a special account with the Court Funds Office. Your responsibilities The account belongs to the person you바카라 사이트檙e deputy for. You바카라 사이트檙e the only person who can manage it on their behalf. You must keep to your responsibilities as a deputy when you바카라 사이트檙e managing the account. Check the court order that appointed you as deputy - it tells you the limits on what you can and cannot do with the account.

You need to apply to: open an account for someone manage an account for someone You must be appointed by the Court of Protection as the person바카라 사이트檚 property and affairs deputy. If your application is successful, you바카라 사이트檒l be able to make withdrawals from the bank account that you run on behalf of the person whose affairs you manage. Check the details on the court order that appointed you as deputy - you바카라 사이트檒l need the date of the order and the case number. Fill in form CFO A to apply for authority to make withdrawals - give your bank account details and tick the 바카라 사이트楴ew details바카라 사이트� box. Attach a copy of your bank statement (less than 3 months old) or a letter from your bank to confirm your bank account details. Fill in form CFO L to pay money in to the account at the same time as applying - attach a cheque made payable to the 바카라 사이트楢ccountant General of the Senior Courts바카라 사이트�. Send forms and attachments together with a copy of the original court order that appointed you as deputy - it must have a seal. The address is on the forms. You바카라 사이트檒l get a letter from the Court Funds Office within 5 working days to confirm that you바카라 사이트檙e set up to manage the account. Your form will be returned if your application cannot be processed - you바카라 사이트檒l be told what you can do to fix this.

A Court Funds Office account is called a 바카라 사이트榮pecial account바카라 사이트� if the account holder has a deputy. Statements As the deputy, you바카라 사이트檒l get statements in April or May and in October or November each year. You can also ask for a statement at any time by contacting the Court Funds Office. Court Funds Office enquiries@cfo.gsi.gov.uk Court Funds Office Sunderland SR43 3AB Interest and tax Special accounts currently pay 4.25% interest. The rate is not fixed - it is set by the Lord Chancellor. You바카라 사이트檒l be told if the rate changes. Tax is not deducted from special accounts. The person you바카라 사이트檙e deputy for must pay Income Tax if the interest is more than their tax allowance. You바카라 사이트檒l also get tax vouchers (for tax returns) with your April statement. Change of address Write a letter to the Court Funds Office to tell them if your address changes so you can keep getting statements and tax vouchers. Court Funds Office Sunderland SR43 3AB

You can invest in the stock market using money from the Court Funds Office account you manage if it: holds 拢10,000 or more for the person you바카라 사이트檙e deputy for is likely to hold the money for 5 or more years The Court Funds Office makes stock market investments in companies using the Equity Tracker Index Fund ( ETIF ) . Write to the Court Funds Office asking them to invest the sum you require in the ETIF . Court Funds Office enquiries@CFO.gsi.gov.uk Court Funds Office Sunderland SR43 3AB Check the value of the ETIF on the Financial Times website . Tax Tax is deducted from dividends on investments. However, if the person you바카라 사이트檙e deputy for has a high income, they may need to pay more Income Tax on interest or dividends from the investments. They must also pay Capital Gains Tax if their investments are sold for a difference in value that바카라 사이트檚 more than their allowance.

You can pay money in to an account after you apply to manage the account . Check the details on the court order that appointed you as deputy - you바카라 사이트檒l need the date of the order and the case number. Fill in form CFO L . You must physically sign the form - this is also known as a 바카라 사이트榳et signature바카라 사이트�. Electronic signatures will not be accepted. Write a cheque for the amount you바카라 사이트檙e paying in, payable to the 바카라 사이트楢ccountant General of the Senior Courts바카라 사이트�. Attach a copy of the original court order that appointed you as deputy (it must have a seal) and send it with the form and cheque to the address on the form. You바카라 사이트檒l get a letter from the Court Funds Office within 5 working days to confirm that it바카라 사이트檚 processed your deposit. Your form will be returned if your deposit cannot be processed - you바카라 사이트檒l be told what you can do to fix this.

You can set up one-off withdrawals or regular withdrawals into the bank account that you run on behalf of the person whose affairs you manage after you apply to manage the account . You can only make a payment to another bank account (for example to a solicitor바카라 사이트檚 account to pay fees) if you have a court order from the Court of Protection saying you can do this. You can only make withdrawals within limits set by the Court of Protection - check the court order that appointed you as deputy. Set up payments Check the court order that appointed you as deputy - you바카라 사이트檒l need the date of the order and the case number to fill in payment forms. Fill in: form CFO P to make a one-off payment to your bank account form CFO R to set up or change a regular payment to your bank account form CFO 205 to make a one-off payment to another bank account You must also fill in form CFO A if your bank account details have changed 바카라 사이트� tick the 바카라 사이트榓mending details바카라 사이트� box and attach either: a copy of a bank statement (less than 3 months old) letter from your bank confirming your new bank account details Send forms by post. The address is on the forms. You바카라 사이트檒l get a confirmation letter from the Court Funds Office within 5 working days. One-off payment to your bank account A cheque will be paid into your bank account within 5 days. The money will take 3 working days to clear. If you바카라 사이트檙e withdrawing money for a gift or charitable donation , fill in form CFO PG and send it with form CFO P. Regular payment to your bank account Use form CFO R to set up, amend, renew or stop a regular payment - tick the box on the form that applies. Specify the number of months you want a regular payment to continue (up to 23 months). The Court Funds Office automatically renews regular payments that are set up to continue for 23 months - you바카라 사이트檒l get a letter to remind you 1 month before renewal. Payment to another bank account Ask the person or company the payment is for to sign form CFO 205. You must get a copy of a bank statement (less than 3 months old) if you바카라 사이트檙e paying a person rather than a company. Send it with an original copy of the court order authorising the payment 바카라 사이트� it must have a seal.

Stop managing or close an account

A new deputy can take over management of the account if you stop being a deputy or die. You cannot hand over management of the account - only the Court of Protection can appoint a new deputy . The new deputy will then need to apply to manage the account . You stop being a deputy Tell the Court Funds Office in writing if you stop being a deputy - send a copy of the letter to the Office of the Public Guardian and Court of Protection . Court Funds Office Sunderland SR43 3AB Close an account You cannot close a Court Funds Office yourself (for example by moving all the money into another account) unless you have a court order that authorises you to do this. If the person you바카라 사이트檙e deputy for dies the person dealing with the estate can apply for the money in the account to be paid out. The account will be closed.

The person you're deputy for dies

Write to the Court Funds Office to tell them if the person you바카라 사이트檙e deputy for has died. Send a certified copy of the death certificate if you can get one. Court Funds Office Sunderland SR43 3AB You바카라 사이트檒l need to include certain information depending on: who바카라 사이트檚 dealing with the estate whether there바카라 사이트檚 a will If you바카라 사이트檙e dealing with the estate Ask for a Certificate of Funds when you write to the Court Funds Office about the death. This shows how much money is in the account and investments. You바카라 사이트檒l need this information to deal with the person바카라 사이트檚 tax and estate (their money, property and possessions) If you바카라 사이트檙e not dealing with the estate Tell the Court Funds Office who is dealing with the estate (the personal representative) and provide their contact details. The Court Funds Office will provide the personal representative with information and the forms required to close the account. If the person did not leave a will If the person died without making a will and has no living relatives, the Court Funds Office will contact the Treasury Solicitor or Solicitor for the Duchy of Cornwall or Lancaster. They will deal with the person바카라 사이트檚 money, property and possessions as an unclaimed estate . Payments for funeral expenses The personal representative or the person who arranged the funeral can apply for funeral expenses to be paid to the funeral provider out of the account. Fill in form CFO FE1 . Send it to the address on the form with the funeral provider바카라 사이트檚 invoice and a certified copy of the death certificate. Funeral expenses must be in keeping with the value of the person바카라 사이트檚 estate - they cannot include payments for: headstones refreshments at the funeral service Payments for inheritance tax The personal representative can apply for inheritance tax to be paid to HM Revenue & Customs (HMRC) out of the account. Fill in form CFO IHT1 . Send it to the address on the form with the completed form IHT423 and certified copies of the death certificate and any will.

Deputies: manage a Court Funds Office account

Overview

You may need to manage a Court Funds Office account for someone if you바카라 사이트檙e their property and affairs deputy and you바카라 사이트檙e authorised by the Court of Protection to look after money on their behalf.

Check the court order that appointed you as deputy - it tells you what you바카라 사이트檙e authorised to do.

You바카라 사이트檒l need to apply on behalf of the person you바카라 사이트檙e deputy for to:

manage an account that was opened for them by court order, for example for money they received from a court case
open an account for them

They바카라 사이트檒l get a special account with the Court Funds Office.

Your responsibilities

The account belongs to the person you바카라 사이트檙e deputy for. You바카라 사이트檙e the only person who can manage it on their behalf.

You must keep to your responsibilities as a deputy when you바카라 사이트檙e managing the account.

Check the court order that appointed you as deputy - it tells you the limits on what you can and cannot do with the account.

View a printable version of the whole guide

Deputies: manage a Court Funds Office account

Overview

Your responsibilities

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Deputies: manage a Court Funds Office account

Overview

Your responsibilities

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