Salary sacrifice ISA

paulus990

Hi all, at work we have been informed that you can now contribute to an ISA through salary sacrifice, is there anyone who already does this. Is this a common scheme.

Thank you.

El_Torro

A quick Google tells me that Workplace ISAs exist, though the money going into the ISA has already been taxed. 

Salary sacrificing into an ISA would be great, though I suspect either you or the person who told you about this has misunderstood.

Grumpy_chap

paulus990 said:

Hi all, at work we have been informed that you can now contribute to an ISA through salary sacrifice, is there anyone who already does this. Is this a common scheme.

Thank you.

It seems wholly unlikely that a new SS scheme of this nature would be introduced - certainly I am not aware that anything similar was announced at the most recent Budget.  Indeed, it would be very odd to allow SS to ISA as a new opportunity while also restricting SS to Pension.

paulus990

Thanks for the replies, my thoughts as well, we need to look into this a bit more, it does seem too goo to be true.

DavidT67

Cushon perchance ?  Yes, it's smoke and mirrors, you will be taxed on any payroll deduction going into an ISA.  Does their literature actually state that ISA payments are via 'Salary Sacrifice'

paulus990

Yes NatWest cushion.