Paying tax by Certificate of Tax Deposit

tiemadmin • 5 October 2023

The Certificate of Tax Deposit scheme allowed users to deposit money with HMRC and use it later to pay tax liabilities. The date that the certificate was purchased was known as the effective date of payment. The scheme closed for new purchases on 23 November 2017.

However, at the time, HMRC had committed to honour existing certificates until 23 November 2023. As this date approaches, it is important that holders of an existing certificate take appropriate action. 

There are a number of options, including contacting the Certificate of Tax Deposit team before the scheme closes to tell HMRC how you want to use the certificate. Users who think they will still have certificates open after 23 November 2023, can contact HMRC to arrange a refund.

After 23 November 2023 HMRC will try to repay the balance of any certificate that remain unpaid and unclaimed. If they cannot (for example, because they were unable to contact the current certificate holder after reasonable effort) they will consider the balance as forfeited.

Until 23 November 2023, users can use their deposits to pay liabilities for:

  • Income Tax (Self-Assessment)
  • Class 4 National Insurance contributions
  • Capital Gains Tax — not including Annual Tax on Enveloped Dwellings-related Capital Gains Tax
  • Corporation Tax — only Series 6 certificates bought in 1993 or earlier can be used
  • Petroleum Revenue Tax
  • Inheritance Tax

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