Help to save question

Mishomeister

I am a bit confused if I wold qualify for the help to save scheme savings account.


The GOV UK website says:


Eligibility




You can open a Help to Save account if you’re either:

• entitled to Working Tax Credit and receiving Working Tax Credit or Child Tax Credit payments
• claiming Universal Credit and your household income in your last monthly assessment period was £542.88 or more

I am a bit confused with the above criteria.


I only get a Child Tax credit but not the Working Tax Credit(would nit get the WTC due to the income) so by me I do not qualify for the above savings scheme.


But why would some one who qualifies for both WTC and CTC would only be getting CTC?

Alexland

Yes I read that as CTC alone being insufficient to qualify.

Possibly a question for the benefits forum but not everyone claims all the benefits they are entitled to receive.

Alex

Ed-1

Mishomeister wrote: »

I am a bit confused if I wold qualify for the help to save scheme savings account.


The GOV UK website says:


Eligibility




You can open a Help to Save account if you’re either:

• entitled to Working Tax Credit and receiving Working Tax Credit or Child Tax Credit payments
• claiming Universal Credit and your household income in your last monthly assessment period was £542.88 or more

I am a bit confused with the above criteria.


I only get a Child Tax credit but not the Working Tax Credit(would nit get the WTC due to the income) so by me I do not qualify for the above savings scheme.


But why would some one who qualifies for both WTC and CTC would only be getting CTC?

As always with government schemes, the detailed eligibility criteria are set out in legislation:

http://www.legislation.gov.uk/uksi/2018/87/regulation/3/made

In particular:

Condition 2
the individual (whether alone or with another person) has a current award validly obtained under section 14 of the Tax Credits Act of working tax credit at a nil rate and of child tax credit at a rate other than a nil rate

So if you only get child tax credit, you're eligible for Help-to-Save.

Asghar

Mishomeister wrote: »

I am a bit confused if I wold qualify for the help to save scheme savings account.

All you have to do is apply online using your Government Gateway account and you will soon find out if you qualify or not.

Then let us know.