Transfer your SAYE shares to an ISA
Discover how to transfer your Save As You Earn (SAYE) scheme to a tax-efficient Stocks & Shares ISA with ii.
Important information: As investment values can go down as well as up, you may not get back all of the money you invest. Currency changes affect international investments, and this can decrease their value in sterling. If you're unsure about investing, please speak to an authorised financial adviser.
What is a SAYE scheme?
A SAYE (Save As You Earn) scheme is a government-backed savings plan that allows employees to buy shares in their employer’s company at a discounted price.
Employees can save a chosen amount of their salary (up to £500 per month) for a fixed term, typically lasting three to five years.
When the scheme matures, employees may choose to buy and sell the shares, or, if eligible, buy the shares and transfer them to an ISA.
Tax-free investing
A Stocks & Shares ISA lets you shield your money from tax.
When selling stocks, you won't pay any Capital Gains Tax on your profits. You also won't pay tax on UK dividends or income earned on bonds. To learn more, we have a collection of some key ISA tax benefits.
More options and control
A Stocks & Shares ISA lets you choose where to invest your money.
You’ll have access to a huge variety of investments. Choose from a range of shares, funds, ETFs, bonds, investment trusts and more. Our impartial insights can give you some direction if you're unsure what to choose.
Long-term, higher returns
A Stocks & Shares ISA is suited to long-term investing.
There’s no limit to how much your investments can grow. This depends on your choice and how they perform, but you won’t have an interest rate restricting you. And you always have the flexibility to sell and reinvest.
What you’ll need before transferring your SAYE scheme
You can transfer a SAYE scheme to your ii Stocks and Shares ISA if you exercised your option within 90 days. The value of the shares you transfer will count towards your ISA allowance for the current tax year.
If the value of your shares exceeds your ISA allowance, the excess shares will be transferred into a Trading Account.
Your account details
When initiating the transfer of your SAYE scheme with your provider, have your ii Stocks and Shares ISA account number to hand.
Share certificates
If your shares are certificated, keep hold of the original share certificate(s) for your scheme. You will need to send us this certificate to deposit the shares.
Completed forms
Depending on the transfer type, electronic or certificated, you may need to send us additional forms. These forms include a Letter of Appropriation and, or a CREST transfer form.
Steps to transferring a SAYE scheme electronically
If you don't already have an account with ii, you'll need to open an ISA to start your transfer. Don’t worry, it only takes 10 minutes.
You need to initiate your SAYE scheme transfer with your employee scheme provider/broker/registrar. Additionally, you will need to provide us with a Letter of Appropriation (LOA), which you can obtain by contacting your current provider.
The LOA must include:
- Your full details.
- Details of your holding.
- The date the holding was released from the scheme (to qualify, the holding must have been released within the last 90 calendar days).
- Confirmation that the scheme is HMRC-approved.
Not all scheme providers can provide a LOA. In this case, we may accept an account statement; however, it must include the above information.
Sit back and relax. As soon as your providers request is received, we will set up the transfer and notify you via email.
Do you have a paper share certificate?
If your SAYE scheme is certificated, you’ll need to send us the following:
- Written instructions confirming the subscription amount or a completed SAYE scheme form
- The original share certificate(s)
- A signed CREST transfer form and a Letter of Appropriation.
All documents must be received by ii within 90 days of the shares being released.
Learn more about ISA investing
Save As You Earn FAQs
Transfers typically take up to 4 weeks for cash transfers and 6 weeks when transferring investments. Though this can take longer if there are delays from your registrar, broker or provider.
If you do not exercise your right to transfer your scheme within the 90 day window, your shares may need to be sold. Potentially, you could be liable to pay Capital Gains Tax, as the shares won’t be shielded by an ISA’s tax-free wrapper.
The price plans available to you depend on the total investment value you hold.
View our full charges breakdown.
When you buy or sell an investment, you’ll pay a one-off trading fee. This cost is separate to your monthly fee.
You’ll be able to minimise your trading fees with our free regular investing service.
Other charges, including foreign exchange (FX) fees, may apply.
No, we don’t charge any fees for transfers in or out.
Be sure to check for any transfer fees with your existing or new provider.
Ready to transfer your SAYE scheme?
Transfer your Save As You Earn scheme to an Stocks and Shares ISA that suits your needs.