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Tax free bonus

  • Writer: Tidal Bookkeeping
    Tidal Bookkeeping
  • Jun 13, 2020
  • 1 min read

For those of you on a low income and universal credit, the government have launched a scheme to help you save.


Pay in a max of £50 per month for 2 years and receive a tax free bonus of 50% of the highest amount saved, they will then let you save again for another 2 years and receive another bonus for another 2 years before the account is closed.


That's potentially a £600 bonus after 2 years if you pay in the maximum amount and another £600 bonus 2 years later, definitely a nice incentive to save.


For more information please visit gov.uk




 
 
 

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