Sold shares

[gary1975]

So whoever bought our shares on the 17th could have sold them on and been cashed up straight away yet the original seller "US" is still waiting for payment with no 100% pay date confirmed Axxx wipes there is no reason they could come up with apart from corporate greed why that money is not in our banks today. You can do overtine on a sat and payment is still there by following pay date.

[donut]

If i`m correct the payout of the shares through our wages department is not subject to any time scale , they could payout the share money anytime ??.....the reason we get payed on a friday is so any overtime / hours worked ...ect can be added / deducted , the share money could be transferred to our bank accounts anytime , it doesn't have to be a friday ??

[moles40]

You just knew there would be a delay in getting the money,its just typical these days, thought woth so few selling shares,there should not be any problem,imagine the chaos in two years to me when everyone else sell them lol

[CAMPINGBLUNDERER]

In two years they will not have to go via payroll as there are no tax / ni implications , the proceeds will go the same way as your dividends or any tax exempt proceeds directly into your bank.

[TrueBlueTerrier]

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.

I'll be blunt I can't understand why you cant understand it.

The scheme said at the start if you cashed in between 3 and 5 years you would pay tax and NI.

The 12% is the standard rate for employees earning between £155.01 and £827 a week. You pay 12% NIC on your earnings every week on every £1 or 1p that is over £155.01.

Now whether the Taxation regime in the UK is fair is a different topic altogether, but I would say it isn't when the top 10% of earners pay as a percentage of their earnings less than the bottom 10%. http://www.mirror.co.uk/news/uk-news/br ... re-8039058" onclick="window.open(this.href);return false;

[Daniel-san]

We need an explanation from RM people ASAP, They're holding MY money!
As I said way back there<<<<< somewhere, I've spent money thinking I'd be able to cover it TODAY!! It had now totally buggered me (as well as many others) up!!
I honestly cannot believe that no one has come forward and said anything, apologised.
I'd like compensation for stressed caused!
Hmm....Maybe Judge Rinder would have a say on this!

[A2B]

We need an explanation from RM people ASAP, They're holding MY money!
As I said way back there<<<<< somewhere, I've spent money thinking I'd be able to cover it TODAY!! It had now totally buggered me (as well as many others) up!!
I honestly cannot believe that no one has come forward and said anything, apologised.
I'd like compensation for stressed caused!
Hmm....Maybe Judge Rinder would have a say on this!

I can understand your frustration but you won't get anything sorted on a forum, have you contacted Royal Mail head office and asked why payment has been delayed?

My guess is there isn't enough staff to process the payments and playing devils advocate why should RM pay overtime/employ more staff to speed the process up?

[cobrakai]

I'm amazed it hasn't been in the press.I can't imagine the CWU don't know about it for a start.

Whichever way you have acted with the shares. I think everybody at best agrees its shoddy.

[A2B]

I'm amazed it hasn't been in the press.I can't imagine the CWU don't know about it for a start.

Whichever way you have acted with the shares. I think everybody at best agrees its shoddy.

I doubt we would get much sympathy from the press, i'd go with "Lazy Posties Fume Over Delay Of Free Money" from the Daily Mail

[windermeredave]

I`m bemused at so called intelligent adults spending money that they don`t have yet.

[aiden01]

I`m bemused at so called intelligent adults spending money that they don`t have yet.

[RobertT]

My guess is there isn't enough staff to process the payments and playing devils advocate why should RM pay overtime/employ more staff to speed the process up?

I agree with this!
If the selling rates are typical of the 18 out 143 as mentioned by somebody else up thread, that would mean around 12.5% of employees are selling. With a total workforce of 140,000 or so, that makes 17,500 people have sold their shares. That will obviously put more strain on the workload of the payroll people.
Although I see no reason why they couldn’t have told people what’s going on via the myroyalmail website at least.

I`m bemused at so called intelligent adults spending money that they don`t have yet.

[brentford]

My guess is there isn't enough staff to process the payments and playing devils advocate why should RM pay overtime/employ more staff to speed the process up?

I agree with this!
If the selling rates are typical of the 18 out 143 as mentioned by somebody else up thread, that would mean around 12.5% of employees are selling. With a total workforce of 140,000 or so, that makes 17,500 people have sold their shares. That will obviously put more strain on the workload of the payroll people.
Although I see no reason why they couldn’t have told people what’s going on via the myroyalmail website at least.

I`m bemused at so called intelligent adults spending money that they don`t have yet.

I reckon Royal mail are not giving the staff at H.R any overtime too process the shares which is quite understandable and this week they are busy with the monthly contracts if I Was working there i would want something extra if they would process them this week no doubt The managers there will be thinking they need less staff or hours at H.R/wages

[slt2653]

For those waiting for share money, it says this on the main page of the share portal site:

Payment of Sales Proceeds:

If you are weekly paid and gave us your instruction to sell your shares between the 17th October and 23rd October your sales proceeds will appear in your salary dated 4th November. If you are weekly paid and sell your shares between the 24th October and 30th October then you will receive your sales proceeds in your salary dated 11th November. If you are monthly paid and have asked us to sell your shares between the 17th October and 31st then your sales proceeds will be in your salary dated 30th November.

[rambo1]

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.

I'll be blunt I can't understand why you cant understand it.

The scheme said at the start if you cashed in between 3 and 5 years you would pay tax and NI.

The 12% is the standard rate for employees earning between £155.01 and £827 a week. You pay 12% NIC on your earnings every week on every £1 or 1p that is over £155.01.

Now whether the Taxation regime in the UK is fair is a different topic altogether, but I would say it isn't when the top 10% of earners pay as a percentage of their earnings less than the bottom 10%. http://www.mirror.co.uk/news/uk-news/br ... re-8039058" onclick="window.open(this.href);return false;

Can't believe how thick some people really are. No wonder there are so many in money problems if they can't grasp the basics of how much tax and NI you pay. I guess if they have sold their shares at this point, says it all really. Maybe he'll work his day off for the next four months to pay for the money he's lost selling early. Lol.