HMRC report on Help to Save investments
Released 30 August 2019
HMRC have reported that over 132,000 people have signed up to the government-backed Help to Save scheme, depositing more than £31.4m to date.
The account offers working people on low incomes a 50 per cent bonus on what they save. Over four years, a maximum bonus of £1,200 is available on savings of up to £2,400.
Broadly, Help to Save accounts are available to working people on tax credits, or universal credit claimants with a minimum earned income equivalent to 16 hours per week at the National Living Wage in their last assessment period.
Further information can be found here.