subscriptions.
The WEALTH at work Workplace ISA was designed specifically for the workplace, the link to payroll offers seamless monthly payments direct into the Workplace ISA. Alternative payment methods are available depending on your preference.
Subscriptions can be made via:
- Payroll on a monthly basis
- Direct debit from employees
- Online debit card payments by employees
- Electronic payments from employees
- Employees can transfer existing ISA’s to the WEALTH at work Workplace ISA
- Transfer of shares from all employee share schemes
payroll.
Our Workplace ISA can be linked to your payroll providing access to greater savings flexibility for all employees, whilst acting as a savings alternative for higher earners who may now face a restriction in the availability of higher rate tax relief on pension contributions.
The Workplace ISA payroll software provided enables comprehensive management of subscriptions at the request of the employee making deductions from their net pay. It is most likely the system will work in a very similar way to your existing management of pension contributions.
direct debit.
Monthly payments can be made into the Workplace ISA via direct debit, as a personal subscription from your employees. The minimum direct debit payment is currently £20 per month.
debit card.
Your employees can make single payments into their Workplace ISA online using a debit card; this can be done on an ad hoc basis to suit the needs of each employee. Using the debit card facility is a secure but efficient method of employees making one off payments into the Workplace ISA.
bank transfers.
Payments can be made directly into the Workplace ISA using online banking or via bank transfer; this is usually one of the most efficient ways to transfer money between accounts.
ISA transfer.
Employees who hold existing ISA’s with other providers can consolidate their ISA investments within their Workplace ISA, allowing for online management under one portal. Transfers between ISA accounts are not measured against an individual’s ISA subscription for the year, providing the subscription is from a separate tax year.
shares schemes.
Our Workplace ISA accepts transfers of shares from all employee share schemes including save as you earn (SAYE) and share incentive plans (SIP’s).
In many cases we will establish a link with the share scheme administrator or trustee to ensure the direct transfer of shares to ourselves making the transfer as seamless as possible for your employees.