THOUSANDS ON UNIVERSAL CREDIT TO GET HMRC BONUSES
A bonus is on the horizon for hundreds of thousands of Universal Credit claimants, with cash payments from HM Revenue and Customs (HMRC) potentially reaching up to £1,200. According to recent figures, around 7.5 million people are currently claiming the benefit, designed to provide additional support for living costs.
And over half a million Universal Credit recipients could be in line for extra cash from HMRC in the coming years. In September, HMRC revealed that approximately 575,200 low-income individuals have opened a Help to Save account.
Originally set to end in 2027, Chancellor Rachel Reeves announced in her Autumn Budget that the scheme will now be made permanent. More families on Universal Credit will also be eligible to open a Help to Save account, the Chancellor confirmed.
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Participants can save up to £50 per month and receive a 50% bonus on top. If savers manage to save the maximum amount of £2,400 over a four-year period (£50 per month), they'll bag a total bonus of £1,200.
This will be deposited into their bank accounts at the end of the second and fourth year, according to HMRC. Recent figures show that between September 2018 (when the scheme was launched) and April 2025, 575,200 customers opened a Help to Save account, contributing a total of £588.2 million to their savings pots.
Lucy Rigby, Economic Secretary to the Treasury, said: "The Government's Help to Save scheme has boosted the savings of over half a million people across the country to the tune of £220 million. We're committed to helping families build financial resilience and putting more money in the pockets of working people."
Deposits into Help to Save accounts can be made through various methods including debit card, standing order or bank transfer. Withdrawals are allowed at any time, but it's worth bearing in mind that this could affect your bonus.
2026-01-17T08:58:31Z