Consultation outcome

Draft legislation: Help to Save accounts

This consultation has concluded

Download the full outcome

Response to the technical consultation on the draft Help-to-Save Accounts Regulations 2018

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Explanatory Memorandum to the Help-to-Save Accounts Regulations 2018

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Arrangements made between HMRC and NS&I in respect of Help-to-Save accounts

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Detail of outcome

This response document provides the government’s response to the technical consultation on the draft Help to Save regulations. We have considered the responses and this has informed the drafting of the final regulations.

These regulations were laid before Parliament on 11 December 2017. The Help to Save scheme will begin with a trial in January 2018, rolling out in stages to increasing numbers.

Original consultation

Summary

This technical consultation seeks comments on the draft Help to Save Accounts Regulations 2018.

This consultation ran from
to

Consultation description

In May 2016, the government published a formal consultation document in which it sought views on the principles and framework for implementing the Help to Save accounts scheme. The consultation ended on 21 July 2016. The government response to this consultation was published in October 2016.

The primary legislation setting out the Help to Save scheme is covered in Schedule 2 of the Savings (Government Contributions) Act 2017. The Act provides the overall structure of the scheme and the way in which it will operate. It also contains a number of delegated powers to be exercised by regulations. Regulations are needed to set out the main features, processes and requirements in relation to Help to Save accounts.

This technical consultation will be of interest to individuals, financial providers and civil society organisations with an interest in the scheme.

HM Revenue and Customs has published these draft regulations together with a draft explanatory memorandum for a period of technical consultation.

Documents

Technical consultation on draft secondary legislation relating to Help-to-Save accounts

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Draft Help–to–Save Accounts Regulations 2018

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Draft Explanatory Memorandum to the Help to Save Accounts

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Published 15 September 2017
Last updated 11 December 2017 + show all updates
  1. Published summary of responses and next steps.
  2. Added the document 'Arrangements made between HMRC and NS&I in respect of Help-to-Save accounts', to provide context and further information as part of the consultation.
  3. First published.