General elections are contests between individual candidates, even though most candidates stand on behalf of political parties.
The £500 deposit
A candidate at a UK parliamentary election must lodge a £500 deposit by the nomination deadline for the nomination to be valid.
The deposit is returned if the candidate polls more than 5% of the total valid votes in the constituency. A candidate receiving 5% or less loses the deposit.
Party candidate or independent?
Candidates can stand for a registered political party or as independents. A party candidate needs the appropriate authorisation to use the party’s registered name or description on the ballot paper.
Why deposits exist
The deposit creates a financial threshold for candidacy, but it does not guarantee electoral support or ballot access by itself: candidates must also satisfy the nomination and eligibility requirements.
What happens to lost deposits?
Election-night references to parties “losing their deposit” simply mean their candidate did not cross the vote threshold required for its return. Because this happens constituency by constituency, a party can retain deposits in some seats and lose them in others.