Her Majesty's Revenue and Customs (HMRC) has issued a warning to 750,000 young individuals who could be owed as much as £2,240 and may not be aware of it. According to the Government department, there are 758,000 matured Child Trust Fund accounts that remain unclaimed.

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

Currently, the average Child Trust Fund is valued at more than £2,240 - and the Government is encouraging 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, stated: "If you're between 18 and 23, you could be sat on a savings

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