We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Government launches new Help to Save scheme

13 Sep 2018

The Government has launched its new ‘Help to Save’ scheme, which is designed to encourage workers on lower incomes to save.

The government-backed scheme was originally due to come into force in April 2018, but was subject to a delay.

Under the scheme, eligible individuals can save up to £50 every calendar month, for up to four years. After two years they will receive a 50% tax-free bonus on their savings, followed by a further 50% bonus after four years, on any additional savings made.

This means that taxpayers saving the maximum of £2,400 over four years would receive a total bonus of £1,200.

The scheme is open to working people who are entitled to Working Tax Credit and receiving Working Tax Credit or Child Tax Credit. It is also available to those claiming Universal Credit who have a household or individual income of at least £542.88 at their last monthly assessment. (Universal Credit payments are not included in household income for this purpose.)

Help to Save will be available until September 2023.

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.