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Certificates need to be used by 23 November 2023. The value on HMRC’s books is £89m.
The deadline for using a certificate of tax deposit (CTD) to settle a tax bill is 23 November 2023.
After that date, the normal process for making a withdrawal will apply.
The current value of outstanding CTDs not yet resolved, or in the process of being resolved, is £89m.
HMRC has written to each holder of a CTD. The outstanding balance suggests that many holders still need to take action.
ICAEW’s Tax Faculty is recognised internationally as a leading authority and source of expertise on taxation. The faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.
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