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His Majesty's Revenue and Customs ( HMRC ) has issued an alert to 750,000 young people who could be owed as much as £2,240 and not realise it. There are 758,000 matured Child Trust Fund accounts that remain unclaimed, according to the Government department.

The Trust Funds are long term, tax-free savings accounts that were set up by the Government for children born between September 1, 2002 and January 2, 2011 with an initial deposit of at least £250.

Now, the average Child Trust Fund is worth more than £2,240 - and the Government is urging 16 to 18 year olds to check if they could be owed thousands from the scheme.

Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, said: "If you’re between 18 and 23, you could be sat on a savings payout an

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