HMRC says people born between two dates may be owed money

HMRC says people born between two dates may be owed money View Image

HM Revenue and Customs (HMRC) has issued an alert to parents regarding unclaimed funds worth "around £2,200". HMRC revealed earlier this year that more than 700,000 individuals aged 18-22 are yet to claim their money, following the establishment of savings accounts by a former Labour administration.

And in a recent post on X, previously Twitter , HMRC said: "Attention parents! If your child has recently turned 18, they may have a #ChildTrustFund, worth an average of £2,200."

Child Trust Funds are long-term tax-free savings accounts set up for every child born between September 1 2002 and January 2 2011. The government contributed £250 for each eligible child, with funds only accessible once the child reached 18.