People on certain benefits urged to claim unique bonus worth up to £300 each year
An additional three million people could potentially benefit from the extension of a unique UK Government savings scheme designed to help those on a low income after HM Revenue and Customs recently announced that the Help to Save scheme, which was due to end this September, has been extended to April 2025.
Commenting on the extension, Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “Help to Save can encourage positive saving habits - no matter what you can afford to save - and the 50 per cent government bonus payment can help savers when they need it most.” What is Help to Save? The Help to Save account is a state-operated scheme which millions of people on a low income, or claiming certain benefits, could be eligible to join. In simple terms, for every £1 you put in you get a 50p bonus over a period of up to four years.
Top Money Stories Today How payments work You can save between £1 and £50 each calendar month - you don’t have to pay in every month. Payments can be made by debit card, standing order or bank transfer.
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