Search Legislation

Savings (Government Contributions) Act 2017

 Help about what version

What Version

 Help about advanced features

Advanced Features

Changes over time for: Part 1

 Help about opening options

Alternative versions:

Changes to legislation:

There are currently no known outstanding effects for the Savings (Government Contributions) Act 2017, Part 1 . Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

Part 1 U.K.Introductory

Interpretation: meaning of “bonus”U.K.

1In this Schedule “bonus” means a government bonus under section 2.

HMRC responsibility for administration of bonusesU.K.

2HMRC are responsible for the payment and management of bonuses, subject to section 2.

Interpretation: meaning of “Help-to-Save account”U.K.

3(1)For the purposes of this Act, an account is a “Help-to-Save account” if—U.K.

(a)it is an account for money savings,

(b)a single individual is beneficially entitled to all money in the account,

(c)the account is held—

(i)by the individual alone, or

(ii)in some other way authorised by Treasury regulations,

(d)the individual is an eligible person (see paragraph 4) on the eligibility reference dates,

(e)the account is provided by an authorised account provider (see paragraph 9),

(f)the requirements imposed by and under paragraph 10 are met in relation to the account,

(g)the account has been opened in accordance with the requirements imposed by and under paragraph 11, and

(h)the account has not ceased to be a Help-to-Save account.

(2)An account which is a Help-to-Save account ceases to be a Help-to-Save account—

(a)at the end of the maturity period for the account, or

(b)if the requirements imposed by and under paragraph 10 cease to be met in relation to the account before the end of that period.

(3)Treasury regulations may make provision for an account to be treated as a Help-to-Save account.

(4)In this Schedule “the eligibility reference dates”, in relation to an account, means the following dates—

(a)the date on which the application for the account is made, and

(b)the date on which the application is accepted.

(5)For the purposes of this Schedule, a Help-to-Save account is opened for an individual if the account is opened and the individual is the person beneficially entitled to all money in the account.

(6)In this Schedule “the maturity period”, in relation to a Help-to-Save account, means—

(a)the period of 48 calendar months, or such other period as may be specified in Treasury regulations, beginning with the calendar month in which the account is opened, or

(b)if the individual for whom the account is opened becomes terminally ill or dies before the end of the period given by paragraph (a), the period—

(i)beginning with the calendar month in which the account is opened, and

(ii)ending with the individual's becoming terminally ill or (as the case may be) the individual's death.

(7)Treasury regulations may make provision for the purposes of sub-paragraph (6)(b) about when an individual is to be considered to become terminally ill.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources