Millions of Brits could be missing out on hundreds of pounds sitting in forgotten accounts, according to an urgent alert from HMRC. The tax authority has revealed that over 18s across the country need to check their financial records immediately for potential windfalls.
The Hidden Money Millions Are Missing
Official figures show that a staggering £69 million remains unclaimed in matured savings accounts alone. But that's just the tip of the iceberg - countless more sits in forgotten current accounts and other financial products.
"Many people don't realise they're owed money," explains a financial expert. "When accounts mature or are closed, the funds don't disappear - they're held waiting for rightful owners to come forward."
How To Claim What's Rightfully Yours
The process is simpler than you might think. Here's what you need to do:
- Check old paperwork for any savings or investment accounts you've held
- Contact previous banks and building societies where you've held accounts
- Use the free tracing service available through HMRC's official channels
- Keep personal details updated with your financial providers
Why Time Is Running Out
There's a crucial deadline approaching that could see unclaimed funds transferred to the government permanently. Once this happens, reclaiming your money becomes significantly more difficult.
"The message is clear," states the HMRC spokesperson. "Don't wait until it's too late. A few minutes checking now could put hundreds of pounds back in your pocket."
With the average claim worth £689, this represents a significant opportunity for Brits struggling with the cost of living crisis to boost their finances without any extra work.
