MILLIONS of people on Universal Credit could be missing out on a cash worth over a thousand pounds. A saving scheme specifically designed for those on low incomes and getting certain benefits offer…
Tax CreditClaim Universal Credit and you earned £604.56 or more from paid work in your last monthly assessment period
You and your partner can apply for separate Help to Save accounts, but you'll both need to apply individually.If you stop claiming benefits you can carry on using your Help to Save account.You can save between £1 and £50 every calendar month and accounts last for four years from the date opened.If you continue saving, you get another 50% tax-free bonus after a further two years - so the fourth year after opening the account.
You should also note that if your Help to Save cash pushes you over £6,000 in personal savings, it could affect your eligibility for some benefits.but you need a government gateway user ID and password.
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