Tax Year End - Scottish Widows Platform

Key dates and useful information

As we approach the end of the 2024/25 tax year on 5 April, it’s essential that you have all the necessary information to support your clients effectively. This page provides the key deadlines, available payment methods, and important information to ensure a smooth and efficient tax year end.

Contributions

Pension/ISA/GIA contributions

Contributions for the 2024/25 tax year must be received into our bank account by close of business on 3 April 2025. The supporting contribution expectation and/or any documentation must also be keyed on the platform or received via email/post by this deadline.

Contributions can be made via Direct Debit, direct credit (bank transfer), or cheque.

Please note: The deadlines for making payments are outlined in the section below. Some deadlines are earlier than 3 April 2025.

Important: If we receive either the funds or the supporting documentation after the deadline, the contribution will not qualify for the current tax year.

Payment methods

Direct Debit Mandates

Direct Debit is the most effective way to move monies into your clients’ accounts and execute any investment instructions.

New Direct Debit Mandates (DDM) that need to be set up before the end of the tax year must be entered, bank account authorised, and received by the Scottish Widows Platform via email or post by 14 March 2025.

Existing Direct Debit Mandates will continue as they are currently set up.

Direct Credit / Bank transfer

We must receive the payment by close of business on 3 April 2025, to ensure it is matched on our records.

Bank transfers can take up to five working days, depending on the bank. We recommend contacting the bank in advance of making the payment.

Please ensure the client’s account is open on the platform, the payment is made to the correct bank account, and the full reference, including the sub-account reference, is completed. For example: EM1234567-001

Bank account details:

Bank: Metro Bank
Account Name: EISL Client Collections Account
Account Number: 21862465
Sort Code: 23-05-80

If we are unable to match funds to the client’s account, the funds will be returned.

Cheque payments

Please make cheques payable to ‘EISL CLIENT COLLECTIONS ACCOUNT’, with the client’s account reference specified on the back of the cheque. For example: EM1234567-001

Cheques should be sent to the following address by 24 March 2025:

Embark Investment Services Ltd
PO Box 24065
1 Tanfield
Edinburgh
EH3 1EY

Funds can take up to five working days to clear using this payment method. For more details on the cheque clearing process, please contact your client’s bank directly.

Bed & ISA

GIA to ISA

Bed & ISA instructions should be completed on or before 22 March 2025 to ensure the process completes in the current tax year. We’ve created a guide to Bed & ISA for your convenience.

Pension withdrawals and income

UFPLS/One-off pension income

Monies cleared in cash within the pension (including any investment sale proceeds) and requests keyed on the platform by 11am on 26 March 2025.

PCLS

Monies cleared in cash within the pension (including any investment sale proceeds) and requests keyed on the platform by 11am on 4 April 2025.

Regular pension income

For new or regular income amendments, input or changes keyed and relevant funds cleared in the cash account by 19 March 2025.

ISA/GIA withdrawals and payments

ISA/GIA withdrawals and internal payments

Monies cleared in cash within the ISA/GIA (including any investment sale proceeds) and requests keyed on the platform by 11am on 4 April 2025.

Adviser Support Hub

Visit the Support Hub for essential guidance and resources to help you work more efficiently.

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Diverse investment solutions

Whether you are looking for ready-to-use solutions, or to build your own portfolios, we can offer solutions to suit your needs.

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Tax year end insight

You can find a range of additional insight and guidance on our Countdown to Tax Year End page.

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Tax year end2024/25