Hundreds of thousands of individuals claiming Universal Credit across the United Kingdom are poised to receive significant bonus payments from HM Revenue and Customs (HMRC), with these funds being issued after a two-year savings period. The latest government statistics indicate that approximately 7.5 million people are currently receiving the Universal Credit benefit, which is designed to provide additional support with living costs.
Expansion of Help to Save scheme
More than half a million Universal Credit recipients could be entitled to extra financial support from HMRC in the coming years. HMRC confirmed in September that roughly 575,200 low-income households have already established a Help to Save account. While the initiative was originally scheduled to conclude in 2027, Chancellor Rachel Reeves announced in her Autumn Budget that it would become a permanent government programme.
Enhanced eligibility and savings structure
The Chancellor also verified that more families receiving Universal Credit would become eligible to open a Help to Save account in the future. Participants in the scheme can deposit up to £50 each month and earn a generous 50% bonus on their accumulated savings. Should savers manage to set aside the maximum amount of £2,400 over a four-year period (equivalent to £50 monthly), they will receive a combined bonus totalling £1,200.
HMRC has clarified that this bonus will be paid directly into participants' bank accounts at the conclusion of the first two years, with a second payment following at the end of the fourth year. Recent data reveals that between September 2018, when the scheme was launched, and April 2025, 575,200 customers established Help to Save accounts, depositing a combined total of £588.2 million into their savings.
Government commitment to financial resilience
Lucy Rigby, Economic Secretary to the Treasury, stated: "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."
Account management and considerations
Account holders can add money to their Help to Save accounts through various methods including debit card payments, standing orders, or bank transfers. While savers are permitted to withdraw funds whenever necessary, it is crucial to remember that doing so may potentially impact the bonus amount they ultimately receive.
The extension and permanent status of the Help to Save scheme represents a significant development in government support for low-income households, providing structured incentives for regular saving while offering tangible financial rewards for participants who maintain their savings commitments over the designated periods.
