Help to Save is a new government saving scheme to support working people on low incomes to build their savings. Over four years, regular savers can deposit up to £50 a month and could receive up to £1,200 in tax-free bonuses. The scheme, ran by HMRC, will be open to UK residents who are:
- Entitled to Working Tax Credit and receiving Working Tax Credit or Child Tax Credit payments.
- Claiming Universal Credit and have a household or individual income of at least £542.88 for their last monthly assessment period (though note that payments from Universal Credit are not considered to be part of your household income).
To find out more, go see Help to Save.
