Certificate of Tax Deposit (CTD): Use it or Lose it

Whitings LLP CTD Use it or lose it blog post header image of alarm clock on blue background. 27th June 2023
The CTD scheme allowed individuals, companies, personal representatives, and trustees to deposit funds with HMRC, which could later be used to pay certain tax liabilities.


The scheme for new purchases closed on 23 November 2017. Existing certificates will be honoured until 23 November 2023. Any remaining certificates after this date should be promptly submitted to HMRC for a refund.


HMRC will make efforts to repay any unpaid and unclaimed balances. However, if reasonable attempts to contact the certificate holder fail, the balance may be forfeited.


Individuals should check if they have received letters from HMRC regarding their CTDs. If they believe they have a CTD but haven’t received a letter, they should check their certificate and contact HMRC to update their records with the correct address.


If you believe that you have a CTD but have misplaced the certificate, there is still a way to proceed. You can contact HMRC on 0300 546 900 to find out whether you have a CTD and begin the process of requesting an Indemnity, you will be required to provide your unique tax reference and other security details.


To request an Indemnity, you will need to email ctdteammailbox@hmrc.gov.uk with your reference number obtained from talking to HMRC and your UTR.


To redeem your CTD or Indemnity, you will need to post the original certificate or Indemnity to HMRC’s CTD Team at the designated address: CTD Team, Floor 6, 1 Atlantic Square, 21 York Street, Glasgow, G2 8JQ, United Kingdom, along with a covering letter with instructions of the reduction of which tax liability or refund.


If you have any questions please contact your local Whitings Office.

Disclaimer - All information in this post was correct at time of writing.
Other Blogs
Paul Jefferson
18th April 2024 Beware of VAT refund fraud

Beware of VAT refund fraud!   We have become aware of several recent cases where taxpayers’ bank account details have been amended on the HMRC portal, without their knowledge, so that VAT repayments have been fraudulently diverted to a third party.   It seems that HMRC have been acting on the basis of a fraudulent…

Andrew Band
17th April 2024 Whitings 2024 Annual Farming Seminar

Our Whitings 2024 Annual Farming Seminar is just around the corner.   Farming always has to cope with changing environment, weather, commodity prices, political changes, etc. This year these challenges feel heightened and this is why we are pleased to welcome back speakers from the Andersons Centre to inform us of these changes and what…

Amanda Newman
17th April 2024 Buy To Let through a Limited Company

There continues to be an ongoing debate when buying a residential property to let out about whether to buy this personally or set up a limited company to own it. Unlike our sole trader v limited company comparisons for a trading business there is not a clear division based on profits. There are a lot…

Nick Edgley
11th April 2024 Do you need to re-register for Child Benefits?

If you’ve heard about the changes post 5 April 2024 and are wondering whether you need to re-register for Child Benefits, this is the blog post for you.   If you have been affected by the increase in the High Income Child Benefit Charge cap to £60,000, then you may need to restart your Child…

Peter Brown
10th April 2024 Pension Contributions for directors

Are you thinking about planning ahead for retirement and want to find out more about Pension Contributions for directors?   When it comes to planning for your retirement, Company pension contributions can offer significant benefits in terms of reducing your company’s Corporation Tax bill. Here’s how you can use both personal and company contributions to…

Angelica Ferentinos
9th April 2024 Child Benefit changes – What you need to know

The new Child Benefit changes came into effect on 6 April 2024, with families receiving up to £1,331 per year (for the first or only child), and up to £881 per additional child, increasing by £83.20 and £54.60 respectively on the year before. This is paid directly into your bank account every 4 weeks. There…