Help to save account

starM · 18 April 2018 at 10:19PM

Hi,

I am in receipt of Child Tax credit. Can I open up Help to save account?

I am abit confused I have seen on the internet eligibility when claiming WTC or CTC an some says WTC only.

Thanks

starM · 19 April 2018 at 6:56AM

https://www.tax.service.gov.uk/help-to-save/about-help-to-save

The above link says

You can only open an account if you're receiving Working Tax Credit and meet all the eligibility criteria.

Why the two are different?

Icequeen99 · 19 April 2018 at 8:08AM

The reason they are different is that they are rolling it out slowly - initially to WTC only claimants which is why the application page only mentions WTC. It will open up from October 2018 for all of those who are eligible.

But the other page is correct. You have to be entitled to WTC - but you can be entitled to WTC but receiving only CTC. So if you are a CTC only claimant you won't qualify. But if you are entitled to WTC but it is reduced to nil due to your income and your get CTC payments only you will qualify.

IQ

Dandytf · 19 April 2018 at 8:01PM

Not sure
I claim wtc's as I have m.s.
Review mse savings thread where I and some others have recently opened help to save account.
I've paid 50 and setup standing order per month.
The helpline advisors are helpful if you need to ask
Best of luck I think it's an excellent way to save 2-4years with a small bonus year2and4

Help to save account

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