Help to Save statistics: February 2021
Updated 26 February 2021
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This publication is available at https://www.gov.uk/government/statistics/help-to-save-statistics/help-to-save-statistics-february-2021
1. February 2021 Official Statistics
In the past six months (August 2020 to January 2021), 42,050 Help to Save accounts have been opened. The total number of accounts opened now stands at 264,800, a 19% increase on the total number of accounts opened by the end of July 2020.
In total, 216,950 individuals have now made a deposit to their Help to Save account, a 21% increase compared to the previous release. For those individuals making deposits, the average deposit per person per month has increased slightly to £48, the maximum permitted monthly deposit is £50. However, there are 47,850 accounts that are still yet to have received a deposit at all.
Total deposits to the scheme in the six month period of August 2020 to January 2021 exceeded £40m; this is a 25% increase on the previous 6-month period from February 2020 to July 2020.
Figure 1. Total number of open Help to Save accounts, monthly accounts receiving a deposit and value of monthly deposits
Source: HMRC data
This version of the release also contains statistics at a Government Office Region, Local Authority District and Parliamentary Constituency level. Birmingham has remained the local authority district with the most accounts and the region with the most accounts has also remained as the North West.
About this release
This publication included information on the number of Help to Save accounts opened and closed, the number and value of deposits made into the accounts and the value of any withdrawals.
It also includes the average value of a Help to Save deposit, the percentage of deposits equal to the maximum amount (£50) and the number of accounts with no deposits.
Further information regarding the Help to Save scheme can be found in the Help to Save Guidance.
The next release of this publication will be August 2021.
Contact Information
The statistical contacts for this publication are:
isabellafarrington@hmrc.gov.uk
For press queries, please contact:
HMRC Press Office, tel: 03000 585020