Research and analysis

Synthesis report: qualitative and quantitative findings from Users and eligible Non-users of the Help to Save evaluation

Published 3 November 2025

Prepared by Ipsos for HM Revenue and Customs.

Daniel McGrady, Connie Rennie, Chloe Snook (Ipsos).

HMRC Research Report 849

August 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 2 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.
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 6 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. Background and Methodology

1.1 Introduction

HM Revenue and Customs (HMRC) commissioned Ipsos to evaluate the Help to Save scheme. From September to November 2023, Ipsos conducted qualitative interviews with 26 Users and 24 eligible Non-users of Help to Save. In 2024, Ipsos conducted a quantitative survey of 980 Users and 699 eligible Non-users.

This report presents a synthesis of the main findings of the quantitative survey and the qualitative interviews. The findings address the overarching evaluation questions across both evaluation strands.

The full findings from each strand can be found in the following final reports:

• Research report: Evaluation of Help to Save – Qualitative interviews with users and eligible non-users of Help to Save – GOV.UK
• Evaluation of Help to Save: Quantitative results from Users and eligible Non-users

For brevity, eligible Non-users are referred to as ‘Non-users’ from this point onwards in this report.

1.2 Help to Save scheme

In 2018, the Help to Save scheme was launched, which aimed at helping those on low incomes to 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 4 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 2 years. The second bonus payment is based upon the difference between the highest balance saved in the first 2 years and the highest balance saved in the last 2 years. An individual’s Help to Save account will close 4 years after they open it. They will not be able to reopen it or open another Help to Save account.

At the time of the research, to be eligible for Help to Save, an individual must be either:

• currently 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

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.

1.3 Evaluation objectives

The overarching objective of the evaluation was to understand the impact of Help to Save on long-term savings behaviour and financial resilience of those who have used Help to Save, referred to from this point as ‘Users’. Furthermore, the evaluation aimed to understand why such a small proportion of the eligible population at the time of the research had taken up the scheme. The evaluation questions were:

▪    has Help to Save encouraged new saving behaviours during the life of the account?

▪    has Help to Save instilled long-term saving behaviours amongst Users?

▪    has Help to Save prompted greater financial resilience amongst Users?

▪    why have some of those eligible for a Help to Save account not opened one?

1.4 Methodology

This evaluation adopted a mixed-methods approach, comprising qualitative and quantitative strands. Please note, that all measures of impacts on savings behaviours reported in both qualitative and quantitative strands are self-reported.  Further information on the methodology used can be found in the Technical Appendix in the report for each strand.

Qualitative strand

The qualitative strand of the evaluation consisted of 50 in-depth interviews, conducted between September and November 2023 using Microsoft Teams or by telephone. In total, 26 Users and 24 Non-users of Help to Save were interviewed, including a mix of Universal Credit and Tax Credits claimants. Table 1.1 summarises the mix of User and Non-user groups as defined in the qualitative strand of the evaluation.

Table 1.1: User and Non-user groups and their definitions (qualitative research strand)

Group categorisations	Definition
Active Users	Held a Help to Save account and had made at least one deposit at the time of interview
Previous Users	Held a Help to Save account which had since matured at the time of interview. All had made at least one deposit
Inactive Users	Held a Help to Save account and had not made a deposit at the time of interview
Non-users	Individuals who were Universal Credit or Tax Credit claimants, who had heard of the Help to Save account, and said they were able to save to some extent but had not opened an account at the time of the interview (Further details on eligibility requirements can be found in the glossary)

To maximise the value of the qualitative strand of the evaluation, all Non-users were aware of Help to Save before the interview.

Quantitative strand

The quantitative strand used HMRC and DWP data to invite a random sample of Users and Non-users to take part in a survey. The survey was mixed-mode, allowing Users and Non-users to participate online or via telephone. Fieldwork was conducted for Users between 9 September 2024 to 12 January 2025 and for Non-users between 2 October 2024 to 12 January 2025.

In total, 989 Users and 699 Non-users took part in the survey. Survey results were weighted by User type and benefit claimed to make them representative of the User and Non-user populations respectively. The results were weighted due to over or under sampling to be able to draw findings from each distinct User and eligible Non-user group. Table 1.2 summarises the mix of User and Non-user groups as defined in the quantitative strand of the evaluation.

Table 1.2: User and Non-user groups and their definitions (quantitative research strand)

User subgroups reported	User account status	Definition
Current Active Users	Current Active Users	Account open at the time of the survey and had made at least £1 deposit
Previous Active Users	Previous Active Non-lapsed Users	Account closed or matured at time of survey and deposited at least £1 in the second term or both terms
Previous Active Users	Previous Active Lapsed	Account closed or matured at time of survey and deposited at least £1 in the first term only
Inactive Users	Current Inactive	Account open at the time of the survey and had not made a deposit
Inactive Users	Previous Inactive	Account closed or matured at time of survey and never made a deposit
Non-users	Non-users	Individuals who were Universal Credit or Tax Credit claimants who had not opened an account at the time of the survey (Further details on eligibility requirements can be found in the glossary)

1.4.2 How to read this report

The report covers findings from both qualitative and quantitative research and only findings addressing the key evaluation questions are reported.

For the qualitative research, findings are reflective of the people that took part in the research and provide an indication of a range of views and experiences. They do not intend to be representative of the wider population. Interviewees’ saving behaviours varied across Users and Non-users. Statistical conclusions cannot be drawn on the impact of the Help to Save scheme based on the in-depth interview findings independently. No statistically significant findings using a base size lower than 100 are reported.

For the quantitative findings, statistically significant differences between groups can be drawn and are written out as comparative statements, for example, “Users were more likely to agree than Non-users, with X% of Users agreeing compared to Y% of Non-users.” Comparisons are made between Users and Non-users, but also between different types of Users. Comparisons between groups are only made where the differences are significant.

For analysis purposes, in some cases Previous Active Non-lapsed and Previous Active Lapsed Users have been grouped together as Previous Active Users. Similarly, Current Inactive and Previous Inactive Users have been grouped as Inactive users. Where the terms Previous Active User and Inactive Users are used to describe differences by account status, they report on combined estimates of the relevant subgroups.

2. Has Help to Save encouraged new saving behaviours during the life of the account?

2.1 Motivations to open the account

In order to create a new savings habit or increase an existing one, Users needed to be motivated to first open a Help to Save account and then use it. As such, in the quantitative survey, Users were asked why they had opened a Help to Save account.

The main motivation to open the Help to Save account was the bonus (78%) emphasising the importance of this feature. This included the response options: ‘the incentive was good’ and wanting ‘to receive the bonus’.

In-depth qualitative interviews revealed that, for some Users, receiving the first bonus was a strong motivator to continue saving towards the second bonus, especially amongst those who had not saved or received any form of bonus for doing so previously. In the interviews, some Users described how the account’s bonus structure helped them continue or develop new consistent saving habits.

In the interviews, some Users believed that once the incentive was removed (after the account matured), they would be less likely to continue saving. They attributed this to other savings accounts being less generous and therefore seen as less appealing or motivating. This was most apparent among those who were also concerned about increasing living costs or affordability. They felt the offer of a lower rate of return made the prospect of saving less enticing, or simply less of a priority at this time.

Amongst surveyed Users, a desire to create saving habits (51%) and have long-term savings (45%) were also motivators to open an account. In the in-depth interviews, to help build this habit, Users without previous experience of saving said they started viewing their monthly deposit into their Help to Save account as a non-negotiable bill. This encouraged them to save during the lifetime of the account. It was a behaviour some Users planned to maintain after the account matured, or in the case of Previous Users, to continue.

2.2 Barriers to using the account (Inactive and Previous Active Lapsed Users)

Not all Users of Help to Save were able to create or increase a savings habit. Some Users opened a Help to Save account but never deposited into the account. These Users are reported as Inactive Users. Some Users stopped saving into the account during the lifetime of the account and are reported as Previous Active Lapsed Users. Both groups of Users were asked why they did not or stopped save into the account.

Over half (56%) of Inactive Users and just under half (45%) of Previous Active Lapsed Users reported they did not save or had stopped saving into the Help to Save account because they could no longer afford to save. This included reasons reported in the survey,  such as an increase in cost of living, change in circumstances, or no longer being able to afford to save. Equally, when asked what could have helped them start or continue saving into the Help to Save account, the most common response was being able to afford to save (67% Inactive Users and 57% Previous Active Lapsed Users). These results suggest that affordability was a key barrier to some Users using the account fully.

“It is not a case of deciding not to save – it is impossible. We will struggle to pay the rent.” (Inactive User)

Similarly, in-depth interviews found that the fear of future spending and rising of living costs was a deterrent to using the Help to Save account amongst Users . For example, one Inactive User said that, though they had the capacity to save, they were nervous about putting money into an account and it potentially being ‘locked away’ when they had concerns about increasing or unexpected bills.

Survey findings showed that the next most common reasons that would have encouraged Inactive Users  and Previous Active Lapsed Users to start or continue saving included receiving reminders from HMRC to save (43% of Inactive Users and 35% of Previous Active Lapsed Users) and a preference for being able to save more than £50 into the account each month (38% of Inactive Users and 36% of Previous Active Lapsed Users).

2.3 Impact of Help to Save on saving behaviours during the lifetime of the account

There is evidence to suggest that Help to Save had beneficial impacts on savings habits amongst Users, particularly whilst the account was open.

Surveyed 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%). Overall, six in ten (62%) Users were not saving at all before opening a Help to Save account. In-depth interviews revealed that some Active and Previous Users had ingrained assumptions around a perceived lack of affordability and inability to save prior to opening an account.

Some Current Active and Previous Active Users who had been saving prior to opening a Help to Save account reported saving more money (55% of Current Active and 41% Previous Active) and more frequently (57% Current Active and 21% Previous Active) at the time of the survey than before using Help to Save.

In-depth interviews revealed that some Users’ experience of participating in Help to Save had positively changed their attitudes and approach towards saving. There were a range of positive actions that had been taken as a direct result of opening a Help to Save account, these included:

• setting up a standing order to make regular and consistent deposits into their Help to Save account
• allocating a proportion of income each month as ‘reserved’ for saving
• placing any additional, surplus funds that became available into their Help to Save account
• purposively changing behaviours or spending patterns to reduce outgoings and maximise savings capabilities (for example, looking to monitor and reduce utility costs or proactively shopping around for the most competitive rate)
• reducing spending on ‘short term pleasures’ to maximise bonus entitlement and to save towards longer term goals (for example, cutting back on or limiting the amount of money spent on leisure activities)

Some interviewed Current and Previous Users also reported that using Help to Save had brought them closer to achieving their savings goals.

3 Has Help to Save instilled long-term saving behaviours amongst Users?

There is survey evidence to suggest that the beneficial impact of the account reduces after the account closes. Although some Previous Active Users reported saving more frequently at the time of the survey than before using Help to Save (as shown in 2.3), three in ten (30%)  Previous Active Users, whose accounts had matured reported they were saving less frequently at the time of the survey than before they opened the account compared to those whose accounts were active at the time of the survey (8%). This indicates a higher rate of saving among Users when their account is active compared to saving after the account has closed.

In the in-depth interviews, reduced or stopped saving for Previous Users was attributed to unexpected changes in personal circumstances or concerns around affordability amidst rising living costs. It is important to note that in-depth interviews with Previous Users were mainly with those whose accounts had recently matured.

Although Previous Active Users were saving less than Current Active Users at the time of the survey, Users were still more likely to be confident that they would be able to continue current savings habits in the next 6 months (80%) compared to Non-users (70%). Similarly, Users were more confident they would be able to continue for the next 12 months (78%) compared to Non-users (67%).

The in-depth interviews found that some Users had continued their savings habits beyond the lifespan of their 4-year Help to Save term. This included continuing to use a standing order to deposit £50 a month into the savings account. It should be noted however that that Previous Users in the qualitative sample had only recently closed their accounts.

“I did not think I had the money to save, but really, I do. Now, I have carried on saving that £50. I prioritise that £50 saving, over frittering that money away. Straightaway [after finishing Help to Save] I started saving into another account.” (Previous User)

4 Has Help to Save prompted greater financial resilience amongst Users?

A longer-term outcome for Users was an increase in perceived financial resilience. In this case, financial resilience refers to what extent Users and Non-users would be able to cope financially when faced with a monetary set-back. To measure the impact of Help to Save on overall financial resilience, Users and Non-users were asked how they would pay if their household was faced with an emergency expense of £250. The survey found six in ten (62%) Users said they would likely be able to pay with their own money they had access to compared to four in ten (41%) of Non-users. This included using money from a current account or existing savings (either from the Help to Save account or another savings account).

Non-users (66%) were more likely to say they would need to borrow money to cover the expense than Users (60%). This included borrowing from friends or family, using a credit card, overdraft, a loan or credit card. Non-users were also more likely to say they would not be able to pay for the expense than Users (9% of Non-users compared to 5% of Users).

Furthermore, Users were also asked what effect having a Help to Save account had on their financial circumstances: two thirds (66%) reported that their financial circumstances had improved.

In-depth interviews provided evidence from Users that Help to Save had improved their financial resilience. For example, some Active and Previous Users reported they had spent the savings from their account to cover unexpected costs they would not have otherwise been able to cover. For others, whilst they had not needed to spend their savings, they nonetheless considered that Help to Save had allowed them to build up a ‘rainy day fund’.

“It gave me an understanding of saving … I feel more financially secure. I now have savings… It’s got me into a habit of savings.” (Previous User)

5 Why have some of those eligible for a Help to Save account not opened one?

5.1 Awareness and perceived ineligibility

Survey findings revealed that lack of awareness of Help to Save was the main reason for Non-users not opening an account, with close to six in ten (58%) reporting they had not opened an account because they had not heard of Help to Save. At the time of this evaluation research, take up of the Help to Save account was low, when comparing the total number of individuals who were eligible to use the scheme.

Some Non-users also reported that they had not opened an account because they were either unsure how to open an account or how the account worked (9%) and were not sure whether they were eligible (8%).

When Non-users were asked what would encourage them to open an account, having more information about the account (45%) and knowing whether they were eligible (35%) would have encouraged them.

Although all those who took part in the interviews required some level of awareness of Help to Save, the in-depth interviews revealed some Non-users had a vague understanding of how Help to Save worked. There was an awareness that it was a ‘government scheme’, but little knowledge of the details. For example, some knew about the £50 maximum deposit limit per month, while others referred to there simply being ‘a cap’ but did not know or were unable to recall how much this was. Similarly, some were aware of the 4-year term of the scheme and that savers received a bonus on their savings, but they were unsure of how this would be calculated.

The in-depth interviews also revealed that Non-users had misconceptions of specific Help to Save features. These included: a minimum deposit requirement each month, an inability to withdraw money from the account for several years, and that savings deposits would be taken directly out of individuals’ Tax Credit or Universal Credit payments.

There were further misunderstandings around eligibility for Help to Save. There was confusion and questions were raised around earnings, savings, and benefits. These included questions around the threshold of earnings or existing savings, or the applicability of current working status, benefit entitlements, or the specific type of benefits received. The reported confusion around eligibility may have been a barrier to opening a Help to Save account for some Non-users who were aware of the scheme.

Interviewed Non-users reported wanting more knowledge about the account. For example, they requested more widespread marketing through a variety of channels, such as notifications on the HMRC app or their online Universal Credit journal account to prompt awareness and encourage those eligible to sign up.

“I think there needs to be more advertising on this. I only heard about it through word of mouth. They need to advertise on billboards, bus shelters…There should be sections in your Universal Credit journal about it…push messages, mail people about it.” (Non-user)

On learning about Help to Save during the course of the in-depth interviews and during the survey, some Non-users reported that they would open an account. At the time of the survey, one in five Non-users (22%) reported that they would open an account. Some Non-users who took part in the in-depth interviews reported that they intended to open an account on the day of the interview. This indicates that increased visibility and transparency around Help to Save could help to increase take-up among the eligible Non-user population.

5.2 Whether an individual can afford to save

One fifth (20%) of Non-users reported they could not afford to save when asked why they had not opened an account. Similarly, when asked what would encourage them to open an account, the most common response was having more disposable income (48%). Other reasons relating to affordability included, wanting a lower cost of living (including childcare costs) (41%) and receiving budgeting support to see if they could afford to save (25%).

In-depth interviews showed that the perceived inability to save consistently due to unexpected outgoings and the increases in the cost-of-living meant some Non-users did not see the value in opening a Help to Save account at the time interview. Amongst Non-users who reported this, they felt that if they could not save the maximum amount permitted each month (£50), they would not receive the full bonus and would not fully benefit from the scheme.

5.3 Whether the Help to Save account is suitable

During the in-depth interviews, Non-users were provided with information on Help to Save and its features in order to capture their thoughts on whether Help to Save was suitable for them. The in-depth interviews showed that the rules of account were not appealing to those who were already saving. These Non-users wanted to be able to save more than £50 each month and have the ease and convenience of having savings in one place.

Some Non-users with variable incomes also reported a preference for flexibility around deposit amounts, where they could deposit more than £50 in some months to compensate for months where they could not make a deposit or could only deposit a small amount.

“I would like to save more than £50… I think I would use it if you could save more. If [it] changed to say £100, even if even you didn’t get bonus on that. It’s the convenience of having all the money in one place.” (Non-user)

Other Non-users reported that they would prefer if the bonuses were paid more frequently and at shorter intervals, for example every 6 months to a year. These Non-users felt that this bonus structure would be more suited to their needs or motivate them to save more. This was particularly the case for Non-users with short term savings goals, and those who anticipated future cash-flow difficulties who wanted to reap the benefit of bonus payments earlier or more frequently.