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<p>The Government is committed to incentivising greater saving and investment, to
help hard working people save for their future goals and build greater financial resilience.</p><p>
</p><p>The Help to Save scheme was launched in September 2018 and is intended to promote
financial resilience among working households on low incomes by supporting them to
kickstart a regular, long-term savings habit and build a financial buffer for a rainy
day.</p><p>Individuals can also save up to £20,000 into an Individual Savings Account
(ISA) each year, and any savings income received within an ISA is tax free. This,
along with the Personal Savings Allowance of up to £1,000 for basic rate taxpayers
means that around 85% of people with savings income pay no tax on that income.</p><p>
</p><p>However, the Government also recognises that people need support to make effective
investment decisions. This is why the Government and FCA are working on a joint review
of the boundary between financial advice and guidance to ensure people can access
appropriate support with their financial decision-making.</p>
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