Technology and business services firm Allstate Northern Ireland has launched a corporate Isa with payroll deductions for its 1,900 employees.
The WorkSave Isa, provided by Legal and General, was introduced at the end of November 2010 to tie in with Allstate’s annual bonus scheme in December. Managing director Bro McFerran thought starting the scheme then would encourage staff to pay their bonus into a tax-efficient Isa. The response so far has been positive, he says.
“It is encouraging to see that a number of employees have already signed up with monthly contributions ranging from £50 to £250 despite launching it in the middle of the tax year, †which is traditionally a slow period for Isa investments,” he adds.
The organisation expects another surge in demand as the tax year ends, following the introduction of the higher Isa allowance in April.
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