Equinity Fee/Adjustment

05 Jan 2017, 14:10

Having left Royal Mail in November, my shares have been sold (or I had the option to pay the tax on them :roll: ).

Sale Value £1576
Tax Paid -£507
NI -£95
Equinity Fee/Adjustment -£118

This leaves me with £854.

Anyone know what the Equinity Fee/Adjustment of £118 is comprised of ?

I expected a charge of around £17 from Equinity to sell the shares :arrrghhh

Equinity Fee/Adjustment

05 Jan 2017, 14:53

The bumph does say 0.5% of £17.50 minimum (£17.50 is more than .5%)

There is a contact number on their website - I'd ring them 0800 012 12 13

Equinity Fee/Adjustment

05 Jan 2017, 17:02

Thanks TBT

I've just dug out the Equinity Sale advice letter in order to look into this further.

They stated the Gross Sale Proceeds as being £1475.35 (323 X £4.567) minus £17.50 dealing fee - so £1457.85 was sent to my Employer. Having checked the share value for the date in question - Equinity's figures are correct.

The Royal Mail payslip I've received states the Sale/Transfer value as being £1576.56 - if I then subtract the Equinity Fee/Adjustment of £118.71, I then end up with the very same figure (£1457.85) that Equinity sent to Royal Mail.

Therefore the net shares payment I've received appears to be tally - So why are Royal Mail inflating the sale proceeds by just over £100 on the payments side of my payslip, and then deducting just over £100 on the deductions side of my payslip :hmmmm

I'll hazard a guess that it's to do with the taxman - as they've bumped up the payments side by £100, I'll have paid more tax and NI.............. I'm not bothered about the tax as I'm leaving the country and will be claiming it back at the end of the year. :dance

But it might be something you guys may wish to keep an eye on should you sell your shares in the near future.

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