Savings (Government Contributions) Act 2017
1
Government contributions to Lifetime ISAs
2
Government contributions to Help-to-Save accounts
3
Income tax treatment of Government contributions under section 1 or 2
4
Regulations
5
Interpretation and amendments
6
Short title and commencement
SCHEDULES
SCHEDULE 1
Lifetime ISAs: further provision
Part 1
Introductory
Interpretation: meaning of “bonus”, “plan manager” and “document”
1
(1) In this Schedule “bonus” means a government bonus under...
HMRC responsible for administration of bonuses and withdrawal charges
2
(1) HMRC are responsible for— (a) the payment and management...
Part 2
Payment of government bonuses
Claims for bonuses
3
(1) Treasury regulations may— (a) provide that a bonus is...
Recovery of wrongly-paid bonus
4
(1) Treasury regulations may provide for the repayment of any...
Penalties for inaccuracies in claims
5
(1) This paragraph applies where— (a) a claim for a...
Information notice may require information related to claim for bonus
6
(1) This paragraph applies where a claim is made for...
Part 3
Charges on some withdrawals from Lifetime ISAs
Withdrawals not triggering charge
7
(1) Paragraph 8 does not apply to a withdrawal from...
Charge when non-exempt withdrawal made
8
(1) Except as provided by or under paragraph 7, this...
Payment of withdrawal charges
9
(1) Treasury regulations may make provision— (a) for requiring a...
Information notice may require information related to withdrawals
10
(1) This paragraph applies if there is a time when...
Meaning of “investor” and “withdrawal”
11
Treasury regulations may make provision about— (a) who, for purposes...
Part 4
Enforcement of information requirements
Penalties for inaccuracies in information provided in response to requirements
12
(1) This paragraph applies where— (a) in complying with a...
Power to inspect documents relating to claims
13
(1) This paragraph applies where a claim is made for...
Power to inspect documents relating to withdrawals
14
(1) This paragraph applies if there is a time when...
Supplementary provisions about inspections
15
(1) The powers under paragraph 13(2) or 14(2)—
Penalties for non-compliance with information requirements
16
(1) Sub-paragraph (2) applies to a person who—
Part 5
Further provision about penalties
Penalties for dishonesty
17
(1) Sub-paragraph (2) applies to a person who dishonestly does...
Part 6
Information sharing
Information sharing between HMRC and others
18
(1) Sub-paragraph (2) applies to information which—
SCHEDULE 2
Help-to-Save accounts: further provision
Part 1
Introductory
Interpretation: meaning of “bonus”
1
In this Schedule “bonus” means a government bonus under section...
HMRC responsibility for administration of bonuses
2
HMRC are responsible for the payment and management of bonuses,...
Interpretation: meaning of “Help-to-Save account”
3
(1) For the purposes of this Act, an account is...
Part 2
Eligibility
“Eligible person”
4
(1) For the purposes of this Schedule, an individual is...
Benefit entitlement conditions: working tax credit
5
(1) The first benefit entitlement condition is that—
Benefit entitlement conditions: universal credit
6
(1) The second benefit entitlement condition is that—
UK connection condition
7
(1) The individual meets the “UK connection condition” if the...
Power to make further provision about eligibility
8
(1) Treasury regulations may— (a) specify benefit entitlement conditions other...
Part 3
Account providers and features of accounts
Authorised account providers
9
(1) Help-to-Save accounts may be provided only by an authorised...
Required features of Help-to-Save accounts
10
(1) An account is not a Help-to-Save account unless—
Opening a Help-to-Save account
11
(1) A Help-to-Save account may be opened for an individual...
Account provider to be notified about absence from UK
12
(1) Treasury regulations may, in connection with any stipulation that...
Further provision about Help-to-Save accounts
13
(1) Treasury regulations may, in relation to cases where the...
Successor accounts for certain Help-to-Save accounts
13A
(1) In this paragraph “matured account” means an account provided...
Accounts wrongly treated as Help-to-Save accounts
14
(1) Treasury regulations may make provision having effect in a...
Part 4
Government bonuses
Calculation and payment of government bonuses
15
(1) The individual for whom a Help-to-Save account is opened...
Recovery of wrongly-paid bonus
16
(1) Treasury regulations may provide for the repayment of any...
Part 5
Information
Information sharing between HMRC and others
17
(1) Sub-paragraph (2) applies to information which is held as...
Claims and returns
18
(1) Treasury regulations may— (a) provide that a bonus is...
Information notices
19
(1) An officer of Revenue and Customs may by notice...
Penalties for inaccuracies in information provided in response to requirements
20
(1) This paragraph applies where— (a) in complying with a...
Power to inspect documents relating to claims
21
(1) This paragraph applies where a claim is made by...
Penalties for non-compliance with information requirements
22
(1) Sub-paragraph (2) applies to a person who—
23
(1) Sub-paragraph (2) applies to a person who, in complying...
Interpretation: meaning of “document”
24
In this Part of this Schedule “document” includes a part...

Savings (Government Contributions) Act 2017
2017 c. 2
An Act to make provision for, and in connection with, government bonuses in respect of additions to savings accounts and other investment plans.
[16th January 2017]
Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—