Overview

• HMRC has confirmed the Help to Save account will run through April 2027, allowing eligible Universal Credit claimants continued access to the scheme.
• Recipients who earn at least £1 per monthly assessment period can open an account online via Gov.uk or the HMRC app without making an immediate deposit.
• Account holders may save up to £50 each month and automatically receive a 50% government top-up of up to £25 added to their bank account.
• Bonuses are calculated on participants’ highest balances each month but paid as two tax-free instalments over the four-year term, potentially totalling £1,200.
• More than 550,000 people have signed up to date, with 93% depositing the maximum £50 each month and accounts remaining active even if benefits stop.