Sold shares

freemoyoyo · Post by **freemoyoyo** » 27 Oct 2016, 16:42

TrueBlueTerrier wrote:
freemoyoyo wrote:Also are all full time staff definitely getting 12 percent taken off the value for NI ? That doesn't make sense to me ?
Part time staff as well.

Although I would ask why it doesn't makes sense its been in every SIP document since 2013 warning people that Tax and NI would be paid if you cashed them in between 3 and 5 years.

https://www.myroyalmail.com/news/nation ... tive-plans" onclick="window.open(this.href);return false;

02:00am, 13 Sep, 2013

Free Shares held in the SIP for between three and five years after they are given to you
You can take your shares out of the SIP, but you will have to pay income tax and National Insurance on the lower of:

a) the market value of the shares at the time they are given to you; or

b) the market value of the shares when you take them out of the SIP.

I have been expecting it, but I don't understand the reason for paying more NI on it when I already pay it from my wages ?

Post by **TrueBlueTerrier** » 27 Oct 2016, 16:55

You are paying more NI because you, by cashing in your employee shares, have earned more.

Jefferson Starfish · Post by **Jefferson Starfish** » 27 Oct 2016, 16:56

freemoyoyo wrote:
TrueBlueTerrier wrote:
freemoyoyo wrote:Also are all full time staff definitely getting 12 percent taken off the value for NI ? That doesn't make sense to me ?
Part time staff as well.

Although I would ask why it doesn't makes sense its been in every SIP document since 2013 warning people that Tax and NI would be paid if you cashed them in between 3 and 5 years.

https://www.myroyalmail.com/news/nation ... tive-plans" onclick="window.open(this.href);return false;

02:00am, 13 Sep, 2013

Free Shares held in the SIP for between three and five years after they are given to you
You can take your shares out of the SIP, but you will have to pay income tax and National Insurance on the lower of:

a) the market value of the shares at the time they are given to you; or

b) the market value of the shares when you take them out of the SIP.
I have been expecting it, but I don't understand the reason for paying more NI on it when I already pay it from my wages ?

It's simply the rules of the SIP! If you sell between 3 & 5 years it's classed as income and you pay tax and NIC's. If you wait until 5 years are up, you don't pay it.

Jhaigh82 · Post by **Jhaigh82** » 27 Oct 2016, 17:46

They've had the first batch of money since Wednesday? So surely they'd have gone through some and sorted some on the wages, or maybe it was a bad time due to the monthly workers and payroll having to sort through them aswell as the week wages?

God knows, like everyone is saying some sort of idea would help of what and how they are dealing with this so everyone had an idea, if it's not next week them I'm f****d and going cap in hand to my old man to help with bills due to booking a holiday thinking I'd have it now

silly me.

A2B · Post by **A2B** » 27 Oct 2016, 18:00

Jhaigh82 wrote:They've had the first batch of money since Wednesday? So surely they'd have gone through some and sorted some on the wages, or maybe it was a bad time due to the monthly workers and payroll having to sort through them aswell as the week wages?

God knows, like everyone is saying some sort of idea would help of what and how they are dealing with this so everyone had an idea, if it's not next week them I'm f****d and going cap in hand to my old man to help with bills due to booking a holiday thinking I'd have it now silly me.

Ask Moya! justsayit@royalmail.com

brentford · Post by **brentford** » 27 Oct 2016, 18:47

Equitni are saying that you are getting the money the following week as long as the money they sent is before the cut off day which is Tuesday.
H.R payroll have told someone in my office they are unsure when people will receive the money you can't make

it up

fatcraig · Post by **fatcraig** » 27 Oct 2016, 18:51

I think it is disgusting that equequinity say in all there communication that it will be I your next available pay which for me as I sold my shares last Tuesday should be today and I've received my lether again telling me that MY money will be in the next pay but when u ring pay they say royal mail and equinity say that they cannot tell you when u will get your money, thus is gonna cause me a lot of ebarsment with both friends and family due to making plans with them this for this weekend ROYAL MAIL should address this issue immediately and not leave it to next weeks pay

freemoyoyo · Post by **freemoyoyo** » 27 Oct 2016, 19:32

TrueBlueTerrier wrote:You are paying more NI because you, by cashing in your employee shares, have earned more.

Yeah but surely not that much more to allow for 12 percent of the value, its ridiculous! Their already getting 20 percent tax off it, so why the further 12 percent for ni ? That's what I can't understand.

brentford · Post by **brentford** » 27 Oct 2016, 22:39

freemoyoyo wrote:
TrueBlueTerrier wrote:You are paying more NI because you, by cashing in your employee shares, have earned more.
Yeah but surely not that much more to allow for 12 percent of the value, its ridiculous! Their already getting 20 percent tax off it, so why the further 12 percent for ni ? That's what I can't understand.

That is what generally you pay for normal rate earnings these shares are classed as earnings now. you have got the option too keep the shares a further two years and pay no tax and insurance that is what alot of us intend too do

Gaztopgaztop · Post by **Gaztopgaztop** » 27 Oct 2016, 22:43

I can see both sides of the sell or keep argument but I have to say in a neutral opinion that the way Royal Mail have acted about it has been very unhelpful and disappointing. Royal Mail has had three years to prepare for this, it's not as if it was sprung on them end of August so they had plenty of time to put measures in place. In the previous three years on our RM t.v. WTLL sessions we get constant updates on how many shares we get, when we get them, our performance and everything else. In the lead up to the sell we get nothing. Nothing through the post informing or reminding people what to do or give the website or number to call, nothing on RM tv except the same stuff about dog attacks and wearing seatbelts. You ask a line manager and they look at you as if you have asked them to talk about one of Einstein's theories, it's as if Royal Mail want you to forget you have the chance to cash them in (insert ominous conspiracy theory music).
Then comes the issue of one section not knowing what the other section is doing. I have seen the websites saying it can be two weeks, I've also seen letters in my office from equiniti saying after the completion date it will be three business days then it goes to payroll, well cutoff in payroll is midday Tuesday so surely people who completed on Monday should have it this week as it's before cutoff. You call people in HR and they don't know, it's not their fault, it's the fault of those above just not knowing.
Finally the current excuse they are giving is that 'the amount of people applying for it is too high' I'm sorry but all the news reports are saying that 'posties snub chance to sell' and that only a tiny percentage cashed in. I know in my office of 143 staff only 18 cashed in and this is similar in other offices so what is it? Are lots of people doing it or hardly anyone? If they are struggling now how will they cope in two years time when they are tax free and a much higher percentage cash in? Apply on the 15th of October 2018 and you 'might' get it for Christmas!!
I can understand people's frustration, my brother was looking forward to using that money for a holiday for his and his wife's 10 year wedding anniversary coming up soon. They don't have much struggle alot and this would have really meant something to them and given them a memorable time so that is his reason for selling as to him £2000 right now is better and more useful than £3000 in two years time.

Sorry to have gone on but I just wanted to express my view and say that I expected more from Royal Mail and it's heads

bullhead · Post by **bullhead** » 27 Oct 2016, 23:30

As this money, now I've sold my shares, is MINE then how do RM have the right to withhold it from me whilst making interest too. They were my shares as of the 15th so they have no right to make money off MY shares. Surely they are breaking the law

wandle · Post by **wandle** » 27 Oct 2016, 23:39

When you sell ANY companies' shares, be they Royal Mail, Marks & Spencer, Rolls Royce etc etc on the London Stock Exchange, the seller's (and buyer's) accounts are credited (or debited) TWO working days later. This is industry-wide practice.

So, even if you sold on Monday 17th (because it was impossible to sell on the 15th... the Stock Market is not open on Saturdays)
Equiniti would have received the proceeds (money) on Wednesday 19th, passed it to Royal Mail, who would certainly have received it too late for last weeks' payroll.
Quite why it hasn't been paid out this week is a mystery. I can only assume they had too much admin for this week, being the week that the monthly-paid staff and drivers have their overtime and salary documents processed.
You've waited 3 years. Is one week going to kill you ?

bullhead · Post by **bullhead** » 27 Oct 2016, 23:54

wandle wrote:When you sell ANY companies' shares, be they Royal Mail, Marks & Spencer, Rolls Royce etc etc on the London Stock Exchange, the seller's (and buyer's) accounts are credited (or debited) TWO working days later. This is industry-wide practice.

So, even if you sold on Monday 17th (because it was impossible to sell on the 15th... the Stock Market is not open on Saturdays)
Equiniti would have received the proceeds (money) on Wednesday 19th, passed it to Royal Mail, who would certainly have received it too late for last weeks' payroll.
Quite why it hasn't been paid out this week is a mystery. I can only assume they had too much admin for this week, being the week that the monthly-paid staff and drivers have their overtime and salary documents processed.
You've waited 3 years. Is one week going to kill you ?

They've had 3 years too to sort it, telling us it would be paid on the 1st available pay date following the sale, and then not!! Is it any wonder employees don't believe anything coming out of RM. Would 1 week more waiting going to kill me? probably not, but the way this company treats it's employees and Bullsh**s 'em the sooner MY money is in my account the better. Wouldn't trust these cowboys with my lads dinner money

pilch · Post by **pilch** » 28 Oct 2016, 01:06

WILFULL DELAY

lets look on the bright side

by the time we get the money we won't have to pay tax on it

Wrg1971 · Post by **Wrg1971** » 28 Oct 2016, 07:04

This is an absolute joke, we had a letter stating next available pay date which is THIS week!!! They've had money since last Weds, what the hell is going on???? Explanation please