In brief: 21 September 2023

Child trust funds

Almost 430 000 18-21 year olds with an unclaimed child trust fund worth an average of £2 000 are being urged by HMRC to claim their cash as part of UK Savings Week (18 to 24 September 2023). There are 5.3 million open child trust fund accounts. Young people aged 16 or over can take control of their own fund although they can only withdraw funds once they turn 18. More than 500 000 matured accounts have been claimed or transferred into an ISA since the oldest children on the scheme turned 18 in September 2020.

tinyurl.com/hmrcctfsept

Economic crime levy

The Finance Act 2009 Sections 101 and 102 (Economic Crime (Anti-Money Laundering) Levy) (Appointed Day) Order SI 2023/997 appoints 30 September 2023 as the day on which the late-payment and repayment interest provisions come into force for the purposes of the economic crime (anti-money laundering)...