From HMRC: Help to Save extended to April 2025

The governments’ Help to Save scheme for those on low incomes, has been extended until April 2025. The scheme offers a bonus of 50p for every £1 saved. Savers can deposit between £1 and £50 per month and the scheme offers bonus payments worth up to £1,200 over four years.

To be eligible, individuals need to be receiving:

  • Working Tax Credit
  • Child Tax Credit and be entitled to Working Tax Credit
  • Universal Credit and (with their partner if it is a joint claim) take-home pay of £722.45 or more in their last monthly assessment period.

Individuals get help with savings if they’re on a low income on GOV.UK or through the HMRC app.

© 2024 - Penny Melville-Brown
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