SAYE share transfers

Help & FAQs ISAs
1

Hi, I have trades maturing in a SAYE account (Save as you earn). Can I transfer them to an Invest Engine ISA without selling them first?
Thanks. W

2

Hi!

At the moment we don’t have such functionality, I’m afraid, but please be assured that we aim to offer shares on our platform soon, as well as the option for clients to transfer holdings from their SAYE to InvestEngine.

Currently InvesEngine only supports ETFs on our platform. Please see our FAQ Why do we use ETFs? – Investengine for more information.

3

@widem – Just to clarify on they I’m assuming the SAYE scheme is to buy shares in the company you work for? (That’s how I understand these schemes work - but I’m by know means an expert)

If that’s the case then truthfully we’ll struggle to offer this service in the near term – It start to get complicated with custody for the shares etc.

All that said I’d really line to hear some more details if they’re anything else you can shares – Is SAY scheme for a private company or publicly list one? Maybe the community can suggest some other options for you to look at re transferring them into an ISA?

4

Thank you for your reply. So SAYE schemes allow you to buy options in the shares of the company you work for, usually publicly listed, at a discount. It has a term at which it matures and you can ”realise” the shares. At that point you can keep them or transfer them to an ISA so that you get a tax advantage when you sell them. They are basically on a custody account and can be transferred to a shares ISA that supports share transfers. Hope this helps. Disclaimer: I am not an investment or tax adviser so do your own research before you rely on anything I say! :grinning:

1 Like
5

Hi, so can shares be transferred from a SAYE custody account to Invest Engine before selling them first?

6

Thanks for the details @widem.
If your company shares are listed, then yes makes total sense.

Its something we’ll look at going forward but I don’t want to hold out false hope. We would need to support trading in individual company stocks, as we’re currently only ETFs – This is likely a little way of for InvestEngine - But if we continue to grow who knows!