FAQs
Your questions, answered.
The practical details for employers, employees and the people running payroll.
For employers
Who is it for?
Established, growing UK limited companies and LLPs with salaried teams of around 40 to 500 people, looking for another source of working capital alongside what they already use. The float comes from an agreed change to when part of pay becomes due; how you use the cash is up to you.
Who pays whom?
Employees who opt in agree that the part of their net pay above minimum-wage level is payable on a stated date two payroll months later for monthly payroll, or eight weeks later for weekly, fortnightly or four-weekly payroll; their full pay still accrues. On their normal pay date WageNow pays each of them an equal amount from its own funds, in its own right, not on the company’s behalf.
The company still owes the deferred pay to the employee until the company pays it, when due, to WageNow on the employee’s instruction. No money is paid to the company.
How much working capital could we retain?
While you use WageNow, about two months of the participating employees’ deferred pay stays in the business at any time. The amount depends on pay levels and how many people opt in.
Working capital & pricing gives an indicative estimate using net pay above minimum-wage level, deferred for two payroll months, assuming everyone opts in. The actual figure will depend on your team’s circumstances.
What does it cost?
Indicative pricing is a monthly fee of 1–1.5% of the float, plus a platform fee of £6 per employee on your payroll per month. Prices exclude VAT where it applies.
In Working capital & pricing, you can explore your estimated working capital and expand “See indicative monthly total” for the combined fee estimate.
What happens if we stop using WageNow?
New deferrals and WageNow’s matching payments stop. Your business returns to paying employees their full net pay on the normal payday.
Amounts already deferred remain payable on their stated dates. For monthly payroll, the float therefore unwinds over two payroll months; for weekly, fortnightly or four-weekly payroll, it unwinds over eight weeks. Those payments need to be included in your cash-flow plan alongside normal payroll.
What if WageNow stops making matching payments?
Deferral stops and the employer pays full pay. The employer’s obligation to its employees remains.
Amounts already deferred remain payable on their stated dates, unless an event such as employment ending brings them forward.
For employees
Will I receive the same total on payday?
Yes. On your normal pay date, your employer pays the non-deferred part, including at least the minimum-wage floor in cash. WageNow pays you an amount equal to the deferred part from its own funds, so the total you receive and the date stay the same.
Your full pay continues to accrue, and the payslip shows the deferred amount and its due date.
Do I have to take part?
No. Taking part is your own choice, made individually and in writing. Nobody is enrolled by default, and you can stop future deferrals at any time.
Does it cost me anything?
No. Employees pay no fees and never pay WageNow from their own pocket. Your employer pays the fees.
What happens if I leave my job?
New deferrals and WageNow payments stop for you. Any deferred pay not yet paid becomes due on the date your employment ends, rather than its original later date.
For amounts WageNow has already matched, the existing payment instruction still applies: your employer pays those amounts to WageNow. You never pay WageNow from your own pocket.
What if I stop taking part but stay with my employer?
Future deferrals stop, and your employer resumes paying your full net pay on your normal payday. Amounts already deferred remain payable on their stated dates under the existing payment instruction.
HR & payroll
What changes in payroll?
Payroll runs on full gross pay in your own software. PAYE, National Insurance and pension contributions are calculated on full gross as usual.
Each participating payslip shows full pay, the amount paid on the day, and the deferred amount with its due date.
Who explains WageNow to employees?
The announcement comes from the employer. Employees then decide individually whether to take part and opt in in writing.
Before you start using WageNow, we walk your finance and payroll teams through the payment steps and what employees would see.
How do we get started?
Contact us with your headcount and approximate average salary. We will work out an indicative figure and cost, then walk your finance and payroll teams through how WageNow would work for your business.
The next steps include our assessment of the company and your advisers’ review of the WageNow agreements.
Still have a question?
Tell us what you would like to understand. We’ll work through it with you.
