After a trial period in which only selected individuals could open Help to Save accounts, they are now available to anyone who’s eligible. To open an account you must either be:
- entitled to working tax credit and receiving working tax credit or child tax credit payments; or
- claiming Universal Credit and have monthly household income of £542.88 or more
Incentive: For each £1 you invest the government will add a tax-free incentive of 50p up to £1,200 over four years. If you meet the requirements you can open an account via HMRC’s website or app. You will need to be registered for HMRC’s online services. This can be done as part of the Help to Save sign-up process.
For more information, we provide a Business Consultation to ensure our clients benefits from tax planning and accounting matters.
Companies999 are Chartered Certified Accountants and Birmingham’s Best Company Formation Agent.