As part of the government’s mission to grow the economy, the Help to Save scheme has now been opened to 550,000 more people.
The Help to Save scheme has been extended and made available to anyone working and receiving Universal Credit.
An account can be managed through GOV.UK or the HMRC app, with savers able to deposit between £1 and £50 each month, earning an extra 50 pence for every £1 saved.
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Economic Secretary Emma Reynolds said, “Security for working people is at the heart of our Plan for Change.
“We want more people to have a bit in the kitty for a rainy day, which is why we are giving hundreds of thousands more working families on tight budgets access to this support.”
Myrtle Lloyd, HMRC’s Director General for Customer Services, added, “Thousands of customers have already benefitted from Help to Save and many more are now eligible to get a great return of 50% on top of their savings, no matter how little you can save each month. Go online or via the HMRC app to find out more and apply today.”
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