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Savings (Government Contributions) Act 2017

Section 1 – Government contributions to Lifetime ISAs [SGCA 2017 s 1] Section 2 – Government contributions to Help-to-Save accounts [SGCA 2017 s 2] Section 3 – Income tax treatment of Government contributions under section 1 or 2 [SGCA 2017 s 3] Section 4 – Regulations [SGCA 2017 s 4] Section 5 – Interpretation and amendments [SGCA 2017 s 5] Section 6 – Short title and commencement [SGCA 2017 s 6]
▸ SCHEDULE 1 Lifetime ISAs: further provision [SGCA 2017 s Sch 1]
  • ▸ Part 1 – Introductory
    • Interpretation: meaning of “bonus”, “plan manager” and “document”
    • HMRC responsible for administration of bonuses and withdrawal charges
  • ▸ Part 2 – Payment of government bonuses
    • Claims for bonuses
    • Recovery of wrongly-paid bonus
    • Penalties for inaccuracies in claims
    • Information notice may require information related to claim for bonus
  • ▸ Part 3 – Charges on some withdrawals from Lifetime ISAs
    • Withdrawals not triggering charge
    • Charge when non-exempt withdrawal made
    • Payment of withdrawal charges
    • Information notice may require information related to withdrawals
    • Meaning of “investor” and “withdrawal”
  • ▸ Part 4 – Enforcement of information requirements
    • Penalties for inaccuracies in information provided in response to requirements
    • Power to inspect documents relating to claims
    • Power to inspect documents relating to withdrawals
    • Supplementary provisions about inspections
    • Penalties for non-compliance with information requirements
  • ▸ Part 5 – Further provision about penalties
    • Penalties for dishonesty
  • ▸ Part 6 – Information sharing
    • Information sharing between HMRC and others
▸ SCHEDULE 2 Help-to-Save accounts: further provision [SGCA 2017 s Sch 2]
  • ▸ Part 1 – Introductory
    • Interpretation: meaning of “bonus”
    • HMRC responsibility for administration of bonuses
    • Interpretation: meaning of “Help-to-Save account”
  • ▸ Part 2 – Eligibility
    • “Eligible person”
    • Benefit entitlement conditions: working tax credit
    • Benefit entitlement conditions: universal credit
    • UK connection condition
    • Power to make further provision about eligibility
  • ▸ Part 3 – Account providers and features of accounts
    • Authorised account providers
    • Required features of Help-to-Save accounts
    • Opening a Help-to-Save account
    • Account provider to be notified about absence from UK
    • Further provision about Help-to-Save accounts
    • Successor accounts for certain Help-to-Save accounts
    • Accounts wrongly treated as Help-to-Save accounts
  • ▸ Part 4 – Government bonuses
    • Calculation and payment of government bonuses
    • Recovery of wrongly-paid bonus
  • ▸ Part 5 – Information
    • Information sharing between HMRC and others
    • Claims and returns
    • Information notices
    • Penalties for inaccuracies in information provided in response to requirements
    • Power to inspect documents relating to claims
    • Penalties for non-compliance with information requirements
    • Interpretation: meaning of “document”
SCHEDULE 1 Lifetime ISAs: further provision / Part 5 – Further provision about penalties / Penalties for dishonesty

Penalties for dishonesty

Contents

  • 17.(1) Sub-paragraph (2) applies to a person who dishonestly does... [SGCA 2017 Sch 1 para 17] Section commentary

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