Help to Save
Tens of thousands of people on low incomes in Scotland could benefit from the UK Government’s Help to Save account that offers a 50% bonus. Watch the video below to find out how it works:
Help to Save is a new type of savings account you can have with the UK Government.
It allows eligible people entitled to Working Tax Credit, Child Tax Credits or receiving Universal Credit to get a bonus of 50p for every £1 they save over a period of 4 years.
31,600 customers in Scotland have opened a Help to Save account between September 2018 and March 2023, with more than £25.6 million paid into accounts during that time.
Nearly 383,000 account holders across the UK have made a deposit into their accounts and the average monthly deposit is £48. More than 90% of savers invest the maximum £50 each month.
It takes less than 5 minutes to open an account. Customers can check eligibility and open an account on GOV.UK or via the HMRC app.
More Information
See if you could save money with the Marriage Allowance.
Find out how you can more easily manage your taxes and tax credits.