HMRC are holding £89 million in “Certificates of Tax Deposit”. Could one be yours?
The ‘Certificate of Tax Deposit’ scheme allowed taxpayers to deposit money with HMRC to pay certain tax liabilities and stop late payment interest accruing. Most commonly, these were used if HMRC raised enquiries into your affairs.
The ‘Certificate of Tax Deposit’ scheme closed in 2017 but HMRC will continue to honour existing certificates until 23 November 2023.
If you think you still might have money deposited with HMRC in the scheme, ensure you contact the Certificate of Tax Deposit team on 03000 546 900 before 23 November 2023 to tell them how you want to use your certificate. It can be used to settle Income Tax under Self-Assessment, Class 4 National Insurance, Capital Gains Tax and Inheritance Tax – for example.
After 23 November 2023, HMRC will try to repay the balance of any Certificate of Tax Deposit owing to you but if HMRC can’t reach you, the balance will be forfeited – it is therefore very important to contact HMRC as soon as you can.
Is part of the £89 million yours?
