Executive summary: Evaluation of Help to Save – Quantitative results from Users and eligible Non-users
Published 3 November 2025
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This publication is available at https://www.gov.uk/government/publications/evaluation-of-the-help-to-save-scheme/executive-summary-evaluation-of-help-to-save-quantitative-results-from-users-and-eligible-non-users
Prepared by Ipsos for HM Revenue and Customs.
Daniel McGrady, Connie Rennie, Chloe Snook (Ipsos).
HMRC Research Report 848
July 2025.
The views in this report are the author’s own and do not necessarily reflect those of HM Revenue and Customs.
Glossary
| Term | Definition |
|---|---|
| Active users | In the context of this evaluation research, ‘active users’ describes individuals with a Help to Save account, in which they had made at least one deposit, at the time of interview. |
| Eligible Non-users (referred to as Non-users for brevity) | In the context of this evaluation research, ‘eligible Non-users’ describes individuals who were receiving Working Tax Credit, entitled to Working Tax Credit and receiving Child tax Credit, or claiming Universal Credit with a take-home pay of £722.45 or more in the last monthly assessment period, who had not opened an account at the time of the survey. |
| Help to Save | Help to Save is a type of savings account. To be eligible for the account, the individual must be either: receiving Working Tax Credit, entitled to Working Tax Credit and receiving Child tax Credit, or claiming Universal Credit with a take-home pay of £793.17 or more in the last monthly assessment period. The account allows eligible individuals to receive a bonus from the government of 50p for every £1 they save over 4 years. The bonus is paid every two years. These were the conditions at the time of this research and are based on the take-home figure of £722.45, which fluctuates in line with inflation and the living wage. |
| Inactive Users | In the context of this evaluation research, ‘Inactive Users’ describes individuals who had opened a Help to Save account, but had not made a deposit, at the time of survey. |
| Previous Active Users or Previous Users | In the context of this evaluation research, ‘Previous Active Users’ also referred to as ‘Previous User’ describes individuals who had previously held a Help to Save account however it had expired, in which they had made at least one deposit, at the time of survey. |
| Proportionality | In the context of this evaluation research, proportionality refers to whether the appropriate level of resource is invested to achieve the desired outcome. For example, whether different levels of generosity through Help to Save could achieve the same or different outcomes. |
| Tax Credits including Child Tax credit and working Tax Credit | Tax credits are means-tested government payments which are split into Working Tax Credits (WTC) and Child Tax Credits (CTC). Individuals can claim one or both depending on their household circumstances. The purpose of Tax Credits is to help low-income households top up their income to help with day to day living. |
| Universal Credit | Universal Credit is a state benefit to help eligible individuals with living costs. It is means-tested and replaces and combines six legacy benefits and tax credits for working-age households with a low income. These include income-related Employment and Support Allowance (ESA), income-based Jobseeker’s Allowance (JSA), and Income Support; Child Tax Credit and Working Tax Credit; and Housing Benefit. |
1. Executive Summary
1.1 Introduction
HM Revenue and Customs (HMRC) commissioned Ipsos to evaluate the take-up, outcomes and impact of the Help to Save scheme, through qualitative and quantitative research strands.
This executive summary presents the key findings from the quantitative strand of the evaluation. This includes reporting any differences and commonalities found amongst Users and Eligible Non-users of Help to Save, as well as across user sub-groups of interest.
The qualitative findings can be found on GOV.UK. A summary of both the quantitative and qualitative findings is also found on GOV.UK. HMRC also publishes Help to Save statistics on GOV.UK.
1.2 Help to Save scheme
In 2018, the Help to Save scheme was launched, which aimed to help those on low incomes build a savings habit through incentivising savings with a government bonus. Help to Save allows eligible individuals to save up to £50 per month for up to four years and receive a bonus of 50p for every £1 saved. An individual can earn 2 tax-free bonuses over 4 years. The first bonus is based on the highest balance achieved during the first two years. The second bonus is based upon the difference between the highest balance saved in the first two years and the highest balance saved in the last two years. At the time of this evaluation research, to be eligible for Help to Save, an individual must be either:
- receiving Working Tax Credit
- entitled to Working Tax Credit and receiving Child Tax credit
- be claiming Universal Credit and have a take-home pay of £722.45 or more in the last monthly assessment period
An individual’s Help to Save account closes 4 years after they have opened it, and they are unable to reopen it or open another Help to Save account.
At the time of this evaluation research, take up of the Help to Save account was low. HMRC publishes Help to Save statistics on GOV.UK: HMRC Annual Savings Statistics.
1.3 Evaluation objectives
The overarching objective of the Help to Save evaluation was to help HMRC understand the impact of Help to Save on long-term saving behaviours and financial resilience of those who had opened a Help to Save account (referred to as ‘Users’). Furthermore, HMRC wanted to understand why there had been low take-up of Help to Save among the eligible population (referred to as ‘Non-users’).
1.4 Methodology
The quantitative strand of this evaluation comprised a random-probability survey with Users and Non-users. The survey was mixed-mode, allowing users and eligible non-users to participate online or via telephone.
Using HMRC and DWP data, a sample of Users and Non-users were invited to take part in the survey. In total, 989 Users and 699 Non-users took part in the survey. Fieldwork was conducted for Users between the 9 September 2024 to 12 January 2025 and for Non-users between 2 October 2024 to 12 January 2025.
1.5 Key findings
1.5.1 Savings before, during and after Help to Save
There is evidence to suggest that Help to Save had beneficial impacts on savings habits amongst Users, particularly while the account was open. Users were more likely than Non-users to report that they were saving more at the time of the survey than before the scheme was introduced (42% compared to 11%). Six in ten (62%) Users were not saving at all before opening a Help to Save account. Nearly half of Users reported saving more money (47%) and more frequently (42%) at the time of the survey than before using Help to Save. Users whose account had closed or matured were more likely to say they were saving less at the time of the survey than before they opened the account (30%) compared to those whose accounts were active at the time of the survey (8%). This suggests the savings habit reduced for those who no longer had the account open. Two in three Users (66%) self-reported that Help to Save had improved their financial circumstances.
1.5.2 Reasons to use Help to Save
Users were asked why they had opened a Help to Save account and could give multiple reasons. The most common reason reported for opening the account was the bonus (78%), emphasising the importance of this feature. Half of Users (51%) were motivated to open an account by a desire to create a savings habit and 45% wanted to have long-term savings.
1.5.3 Barriers to using Help to Save
Non-users were asked why they had not opened a Help to Save account and could give multiple reasons: lack of awareness of Help to Save was the most common reason reported by Non-users (58%). When asked what would encourage them to open an account, in addition to having more information about the account (45%), the key motivator for Non-users was having more disposable income (48%). This indicates that affordability is also a barrier to take-up.
1.5.4 Demographic profiles of users and non-users
Demographic profiles and financial attitudes were measured to understand if they contributed to saving behaviours, and why Users and Non-users did or did not use the account. There were no significant differences in personal and household monthly incomes reported by Users and Non-users. However, Users had several demographic attributes which were likely to make it easier for them to save. For example, Users were more likely to live outside of London than Non-users (9% of Users compared to 14% of Non-users). Living in London was associated with lower amounts of savings: when considering all Users and Non-users, those living in London were the least likely to have savings (24%) compared to Users and Non-users overall (37%). Home ownership was associated with higher amounts of savings: when considering all Users and Non-users, homeowners were more likely to have savings (53%) compared to renters (28%). Users were more likely to own their home (45%) than Non-users (19%). Users were also more likely to have had more stable employment compared to Non-users (73% of Users had been working for more than 12 months compared to 62% of Non-users).