HMRC issue letters to thousands of savers who might be owed over £2,000

1 sources1 storiesFirst seen 4/24/2026Score25Mixed Progress

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HMRC issue letters to thousands of savers who might be owed over £2,000.

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Thousands of young people across the UK could be sitting on forgotten savings worth more than £2,000 without knowing it.HM Revenue and Customs (HMRC) has launched a fresh awareness drive to reconnect 21-year-olds with unclaimed Child Trust Funds.There is roughly £1.5billion held in around 750,000 accounts that have not been accessed.The tax authority will now write directly to every 21-year-old with an unclaimed account in an effort to return the money.

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TRENDING Stories Videos Your Say Two-thirds of the six million people who received these tax-free savings accounts are now over 18 and able to withdraw their funds, yet hundreds of thousands remain unaware they hold one.Child Trust Funds are long-term, tax-free savings accounts introduced by the Government in 2005 for children born between September 2002 and January 2011.Each eligible child received at least £250 when the account was opened, with those from low-income families or in local authority care receiving an additional £250.The...

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