Overview
- HMRC is actively promoting Help to Save on social media and directing eligible people to apply via the HMRC app or GOV.UK.
- Current eligibility requires claiming Universal Credit and having at least £1 take-home pay in the most recent monthly assessment period.
- Savers can deposit up to £50 per month for four years, with bonuses paid at the two- and four-year points based on the highest balance reached.
- Accounts are opened through National Savings & Investments, and both the savings and government bonuses are tax-free.
- Each account closes automatically after four years and cannot be reopened, and reports say eligibility is planned to widen from 2028.