HSTM04700 - Bonus: recoupment of bonus

The account is considered void where:

• The account holder was not an eligible person on a eligibility reference date; or
• There is a breach of the declaration made when the Help-to-Save account was opened

Where the account is void, any amount of bonus paid in respect of the void account must be accounted to HMRC by the persons listed below, who are jointly and severally liable:

• The authorised account provider, NS&I
• The account holder or former account holder
• Any other person in whom the payment is vested

Where an amount of bonus is paid by HMRC to the authorised account provider, NS&I, due to a misstatement or a mistake, or at a time when an account is not a Help-to-Save account, the persons listed above must account to HMRC for such an amount.

HMRC must notify the account holder of a Help-to-Save account becoming void within 14 days beginning with the day a determination to that effect is made.

Where HMRC notify an accountable person that an amount is due from that person in respect of bonus payments made to a void account, the amount due is treated for the purposes of Part 6 of the Taxes Management Act 1970 as if it were tax charged in an assessment and is due and payable. The time limits in sections 34 to 36 and section 40 of the Taxes Management Act 1970 apply to the amounts payable as they apply to tax assessments that are issued following the Taxes Management Act 1970.

Any notification in relation to a void account or amounts due in respect of a void account are appealable decisions.