HSTM02700 | Eligibility: Account holder not being in the United Kingdom

An account holder, who at any time does not meet the UK connection condition may retain the benefits of the Help-to-Save account they have open at that time.

However, during the time the UK connection condition is not met, the account holder must not pay any amount in to the Help-to-Save account and the maximum monthly amount is to be nil.

An account holder must inform the authorised account provider, NS&I, that they no longer meet the UK connection condition within 14 days, beginning with the first day on which the UK connection condition is not met.

If an account holder does not inform NS&I that they no longer meet the UK connection condition within the period specified above, HMRC may impose a penalty on the account holder of up to a maximum of £300. The penalty is deducted by the NS&I from bonus payments and reported and transferred to HMRC.

Paragraphs 44, 45, 46(1), 47 to 49 and 52 of Schedule 36 to the Finance Act 2008 apply in relation to penalty assessments for failing to inform the authorised account provider that they no longer meet the UK connection condition.