UK Act of Parliament 2017 United Kingdom

Savings (Government Contributions) Act 2017

Read the Act on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Prosecution 3 of 9 obligations carry a criminal penalty. 2 carry different penalties and 4 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person6

Plus 3 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2684 other Acts

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.001 Government contributions to Lifetime ISAs (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • HMRC must pay government bonuses on qualifying Lifetime ISA additionsCrown / Minister / Government department
s.002 Government contributions to Help-to-Save accounts (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Paying authority must pay Help-to-Save government bonusesCrown / Minister / Government department
4 other provisions — procedural and definitional
s.003 Income tax treatment of Government contributions under section 1 or 2 (opens in a new tab)
s.004 Regulations (opens in a new tab)
s.005 Interpretation and amendments (opens in a new tab)
s.006 Short title and commencement (opens in a new tab)
Schedules

Schedules

7 of 43 shown
s.sch001 (1) This paragraph applies where— (a) in complying with a... Regulated
  • Provide inaccurate information to HMRCAny Person
s.sch001 (1) Sub-paragraph (2) applies to a person who— Prosecution
  • Fail to comply with HMRC requirements or obstruct an inspectionAny Person

Fine up to £300

s.sch001 (1) This paragraph applies where— (a) a claim for a... Regulated
  • Submit inaccurate information in a savings bonus claimAny Person
s.sch001 (1) Except as provided by or under paragraph 7, this... Regulated
  • Deduct the Lifetime ISA withdrawal charge and pay it to HMRCAny Person
s.sch002 HMRC are responsible for the payment and management of bonuses,... Regulated
Other duties (1) — Crown / regulator
  • HMRC must pay and manage savings bonusesCrown / Minister / Government department
s.sch002 (1) This paragraph applies where— (a) in complying with a... Prosecution
  • Provide inaccurate information or documents to HMRCAny Person

Fine up to £3,000

s.sch002 (1) Sub-paragraph (2) applies to a person who— Regulated
  • Fail to comply with HMRC savings scheme information requirementsAny Person
36 other schedules
s.sch001 (1) In this Schedule “bonus” means a government bonus under...
s.sch001 (1) This paragraph applies if there is a time when...
s.sch001 Treasury regulations may make provision about— (a) who, for purposes...
s.sch001 (1) This paragraph applies where a claim is made for...
s.sch001 (1) This paragraph applies if there is a time when...
s.sch001 (1) The powers under paragraph 13(2) or 14(2)—
s.sch001 (1) Sub-paragraph (2) applies to a person who dishonestly does...
s.sch001 (1) Sub-paragraph (2) applies to information which—
s.sch001 (1) HMRC are responsible for— (a) the payment and management...
s.sch001 (1) Treasury regulations may— (a) provide that a bonus is...
s.sch001 (1) Treasury regulations may provide for the repayment of any...
s.sch001 (1) This paragraph applies where a claim is made for...
s.sch001 (1) Paragraph 8 does not apply to a withdrawal from...
s.sch001 (1) Treasury regulations may make provision— (a) for requiring a...
s.sch002 In this Schedule “bonus” means a government bonus under section...
s.sch002 (1) An account is not a Help-to-Save account unless—
s.sch002 (1) A Help-to-Save account may be opened for an individual...
s.sch002 (1) Treasury regulations may, in connection with any stipulation that...
s.sch002 (1) Treasury regulations may, in relation to cases where the...
s.sch002 (1) In this paragraph “matured account” means an account provided...
s.sch002 (1) Treasury regulations may make provision having effect in a...
s.sch002 (1) The individual for whom a Help-to-Save account is opened...
s.sch002 (1) Treasury regulations may provide for the repayment of any...
s.sch002 (1) Sub-paragraph (2) applies to information which is held as...
s.sch002 (1) Treasury regulations may— (a) provide that a bonus is...
s.sch002 (1) An officer of Revenue and Customs may by notice...
s.sch002 (1) This paragraph applies where a claim is made by...
s.sch002 (1) Sub-paragraph (2) applies to a person who, in complying...
s.sch002 In this Part of this Schedule “document” includes a part...
s.sch002 (1) For the purposes of this Act, an account is...
s.sch002 (1) For the purposes of this Schedule, an individual is...
s.sch002 (1) The first benefit entitlement condition is that—
s.sch002 (1) The second benefit entitlement condition is that—
s.sch002 (1) The individual meets the “UK connection condition” if the...
s.sch002 (1) Treasury regulations may— (a) specify benefit entitlement conditions other...
s.sch002 (1) Help-to-Save accounts may be provided only by an authorised...

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.