Thousands join up - The Evesham Observer

Thousands join up

Evesham Editorial 26th Jan, 2019   0

MORE than 8,000 people in the West Midlands have already signed up to a Government scheme which enables them to earn 50p for every £1 saved.

Help to Save was launched in September to give a helping hand to working people on Tax Credits and Universal Credit, enabling them to put some cash away.

In total £920,000 has been deposited across the region as part of the scheme which is aimed at those who previously did not have enough cash to place into a savings account.

Account holders can save between £1 and £50 every calendar month and accounts last from four years from the date the account is opened.

If participants stay with the scheme for two years, they get a 50 per cent tax-free bonus on the highest balance they achieved. The maximum amount they can save is £2,400 which would deliver a £1,200 bonus.

They can receive another one two more years down the line.

Visit or use the HMRC app to find out more.


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