Tax Free Cash (PCLS) payment timeframes

Tax-free cash (PCLS) payments are typically reviewed and processed within 1–2 working days of receiving the submission or transfer acceptance. Please note that during peak periods, processing times may be longer. We kindly ask that you only follow up if the request is urgent, to help us manage workloads efficiently and avoid unnecessary delays.

If we have any queries regarding the payment, we will contact you before proceeding.

Once the PCLS payment has been processed:

• If sufficient cash is available, the payment will usually be made within 1 working day.

Please note: If there are any open orders, these must be settled before the payment can be made. This may result in an additional delay of 3 working days but may take up to 5 working days depending on the specific investment being sold.

• If sufficient cash is not available, disinvestment will be required. In this case, the payment will typically be made within 5 working days but may take up to 8 working days depending on the specific investment being sold.

Please note: Any open orders must be settled before disinvestment can begin. This may cause an additional delay of 3 working days but may take up to 5 working days depending on the specific investment being sold.

If you have provided a specific payment date, we will aim to process the payment on that date. However, please note that the payment will only be made to the client once sufficient cash is available in the account.