HMRC calls for volunteers for Help to Save trial

HMRC is inviting individuals who are eligible for tax credits to participate in the Help to Save scheme trial.

Help to Save is a new government saving scheme to support working people on low incomes to build their savings. Over 4 years, regular savers can deposit up to £50 a month and could receive up to £1,200 in tax-free bonuses. The Help to Save service went into a trial phase known as ‘private beta’ in January 2018.

It is being rolled out gradually so that it can be tested and developed.

Customers are currently being invited gradually into the service through the HMRC app and, if they are eligible for Working Tax Credit, through their personal tax account. Anyone interested in taking part in the trial, or who would like to know more about Help to Save can contact HMRC on 0300 322 7093 (Monday to Friday 10 a.m. to 6 p.m.). Help to Save accounts will be available to all those who are eligible from October 2018.

The scheme was originally announced at the Budget in March 2016 and was expected to be available from the beginning of the tax year in April 2018.

However, the Chancellor’s Spring Statement confirmed the roll out had been delayed to provide ‘the best customer experience possible’.

For more information, see The Help to Save scheme.