The Help-to-Save Accounts Regulations 2025

Made: 11th March 2025

Laid before the House of Commons: 12th March 2025

Coming into force: 6th April 2025

The Treasury make these Regulations in exercise of the powers conferred by paragraphs 4(2), 5(2) and 6(3) of Schedule 2 to the Savings (Government Contributions) Act 2017[^f00001].

Citation and commencement

1

These Regulations may be cited as the Help-To-Save Accounts Regulations 2025 and come into force on 6th April 2025.

Amendments to the Help-To-Save Accounts Regulations 2018

2

• (1) Regulation 3 of the Help-To-Save Accounts Regulations 2018[^f00002] is amended as follows.

• (2) In paragraph (3), for sub-paragraph (b), substitute—

(b) has earned income in the assessment period immediately preceding the first eligibility reference date equal to or greater than £1.

• (3) In paragraph (6) delete sub-paragraph (d).

Signed

Jeff Smith — Anna Turley — Two of the Lords Commissioners of His Majesty’s Treasury — 11th March 2025

Explanatory note

(This note is not part of the Regulations)

Explanatory Note

These Regulations amend the Help-to-Save Accounts Regulations 2018 (S. I. 2018/87) (“the 2018 Regulations”).

Regulation 1 provides for citation and commencement.

Regulation 2 makes amendments to paragraphs (3)(b) and (6)(d) of regulation 3 of the 2018 Regulations.

Paragraph (3)(b) of regulation 3 is amended in respect of the eligibility criteria for Help-to-Save accounts for Universal Credit claimants so that the requirement is that claimants must earn at least £1 in the period specified in paragraph (3)(b).

Paragraph (6)(d) of regulation 3 is amended to remove the reference to the national living wage rate.

A Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

Footnotes

[^f00001]: 2017 c. 2.

[^f00002]: S.I. 2018/87