Savings (Government Contributions) Act 2017 section Sch 2 para 16

Repayment of bonus paid in error

Schedule 2, paragraph 16 gives the Treasury the power to make regulations requiring the repayment of any government bonus that should not have been paid into a Help to Save account.

• The Treasury may make regulations requiring repayment of any bonus amount that was paid when it should not have been — for example, where an account was wrongly treated as a Help to Save account or for any other reason.
• The regulations may specify who is liable to make the repayment.
• Interest may be charged on amounts that are repayable.
• The regulations may apply or adapt existing tax recovery rules — such as those used to recover overpaid income tax or capital gains tax — as a mechanism for collecting the repayment and any interest due.