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Cashing my shares today

20 Feb 2018, 11:16

How much tax and NI would I have to pay?

Thanks.

Cashing my shares today

20 Feb 2018, 12:41

Bluesman wrote:How much tax and NI would I have to pay?

Thanks.


Hi your looking at 20% tax and 12% NI.
So you lose roughly a third of the value. E.g. For every 3k you get approx 2k.

Equiniti will also charge you 1% of the transaction.

Hope this helps and get your summer holiday booked with the dosh.

Cashing my shares today

20 Feb 2018, 13:43

I thought about it, but do I recall that after we have had them for longer than 5 years, we don't have to pay any tax and NI?
I don't know about the extra paid into the SAYE for 3 years, that finished last december.

Cashing my shares today

20 Feb 2018, 16:25

You don't pay tax or NI on the free shares once you have held them for five years. The fifth anniversary of the original batch of free shares is later this year (October I think).

Shares bought through the SAYE scheme are free of tax and NI.

Cashing my shares today

20 Feb 2018, 20:38

I might be wrong but I believe that NI is only charged on earned income (wages). There should be no NI if you cash in shares.

Cashing my shares today

20 Feb 2018, 21:09

Lincox wrote:I might be wrong but I believe that NI is only charged on earned income (wages). There should be no NI if you cash in shares.

It goes on your wage slip so ni is payable

Cashing my shares today

21 Feb 2018, 16:48

I could wait until October but what will the price be then? 563 seems a lofty price and doubt it will creep much higher.

Cashing my shares today

21 Feb 2018, 17:40

Bluesman wrote:I could wait until October but what will the price be then? 563 seems a lofty price and doubt it will creep much higher.

But when you take into account the tax and NI you’ll be paying, the effective price today is only around £4.00 or so. Which equates to about £1,000 going to the taxman.

Cashing my shares today

22 Feb 2018, 18:11

I Cashed in most of my shares on October 2016 but still have 167 locked in , Not sure when i can cash the rest in if its this October coming tax free or next year

Cashing my shares today

22 Feb 2018, 19:53

Andy_07 wrote:I Cashed in most of my shares on October 2016 but still have 167 locked in , Not sure when i can cash the rest in if its this October coming tax free or next year


There were 4 separate issues and I think 2 have gone, so 2 more to go.

Cashing my shares today

22 Feb 2018, 19:59

RobertT wrote:
Bluesman wrote:I could wait until October but what will the price be then? 563 seems a lofty price and doubt it will creep much higher.

But when you take into account the tax and NI you’ll be paying, the effective price today is only around £4.00 or so. Which equates to about £1,000 going to the taxman.


£1067 was my calculation. Put me off to be honest mate.

Cashing my shares today

22 Feb 2018, 23:07

https://markets.ft.com/data/equities/te ... ?s=RMG:LSE

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