MSE News: Help to Save scheme to offer £1,200 bonus to low-paid workers
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Signed myself up today - to answer an earlier question, it seems that if you come off the qualifying benefit once started, you can continue with the account for its term. I've set up a new SO that runs to the H2S account, closed off existing SO to poor-interest savings account.
I'll sign Marley up tomorrow!:heartpuls Mrs Marleyboy :heartpuls
MSE: many of the benefits of a helpful family, without disadvantages like having to compete for the tv remote
Proud Parents to an Aut-some son 0 -
I'd like to see this scheme rolled out to maybe under 25's, regardless of income. I know some might say this is unfair, however I think it's important that young people are encouraged to start a saving habit, which something like this encourages them to do. Given the difficulties young people face generally, the bonus would help them to get closer to short/medium term savings goals, alongside other schemes such as Help to Buy etc...0
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Is this Help to Save account classed as an ISA? Can you pay in to this and an ISA with another bank? It is not clear from the government website. For the Help to Buy ISA the restrictions are clear and obviously it is called an ISA but this is also tax free savings so wondering how that works out?0
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Probably working tax credits0
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Is this Help to Save account classed as an ISA? Can you pay in to this and an ISA with another bank? It is not clear from the government website. For the Help to Buy ISA the restrictions are clear and obviously it is called an ISA but this is also tax free savings so wondering how that works out?
Not an ISA t.b.h.
Seems to be a simple benefits related simple savings account with bonus years 2+4 if No withdrawals are taken.
Or withdraw what you want when you want which reduces bonus each time.
Note the 'bonus' is automatically 'withdrawn' and paid into your bank account again years2+4 -me personally I would have preferred to leave the amount untouched -though thinking ahead I'll possibly pay it into my VM e-saver account.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0 -
I'd like to see this scheme rolled out to maybe under 25's, regardless of income. I know some might say this is unfair, however I think it's important that young people are encouraged to start a saving habit, which something like this encourages them to do. Given the difficulties young people face generally, the bonus would help them to get closer to short/medium term savings goals, alongside other schemes such as Help to Buy etc...
I think this type of Gov savings scheme should be rolled out nationally.
If it continues then I'ts been a game changer for me when I have failed to save up for years.
Got 90% of my budget sorted -H2s is my savings attempt -I'm almost at the point where I'm forgetting about it for a few years with SO being setup.
I've never as yet been tempted to make any withdrawals.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0 -
Found ios HMRC App by accident last week.
Update tonight shows H2S account transactions can be viewed via the app.
Nice rather than having to log into your account as such.
Hopefully gong to try this new feature once update is complete via ipad tonight.Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb0
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