Sold shares

Daniel-san · Post by **Daniel-san** » 01 Nov 2016, 18:31

Pharox wrote:I emailed justsayit@ last Friday, this is the reply.

JustSayIt
13:25 (2 hours ago)

to me
Dear Kevin

Thank you for your email. I have been asked to reply to you.

I am sorry to hear about the concern shared. Because colleagues are selling before the 5 year tax free period, tax has to be paid through payroll so that the right tax can be applied. The Equiniti portal and automated phone service is clear that payments will not start until 4 November pay or November salary and thereafter on the next available pay run after sale completion. Colleagues can be assured that Royal Mail is not gaining financially from the transaction and is acting in the interest of colleagues by taking all appropriate steps to ensure proceeds are paid without error.

Kind Regards

Gary Redmond
Chief Executive’s Office
Royal Mail HQ
100 Victoria Embankment
LONDON
EC4Y 0HQ

External Email: gary.redmond@royalmail.com
I'm guessing that means, we should get the money this Fri?

I received the same reply too

HardtoExplain · Post by **HardtoExplain** » 03 Nov 2016, 12:07

Sold mine on the 18th. Money is in my wage slip today.

brazil1212 · Post by **brazil1212** » 03 Nov 2016, 12:46

Same here got in wage slip but I do hope the posties who didn't sell get a much higher share price when they sell in two years time

stranglerscolin · Post by **stranglerscolin** » 03 Nov 2016, 12:56

sold mine on the 21st,money in payslip today,,paid roughly 700 quid extra tax and n.i.,,so not quite a third,,
pleasantly surprised at that,,niceone

chuckmorris84 · Post by **chuckmorris84** » 03 Nov 2016, 14:32

Bit pissed about mine. I have a student loan from when I was back at uni (dropped out after 2 years) and they've taken £263 deduction from my shares money. Are they allowed to do this as nothing was mentioned about a student loan repayment....just the tax and national insurance

Post by **TrueBlueTerrier** » 03 Nov 2016, 15:32

chuckmorris84 wrote:Bit pissed about mine. I have a student loan from when I was back at uni (dropped out after 2 years) and they've taken £263 deduction from my shares money. Are they allowed to do this as nothing was mentioned about a student loan repayment....just the tax and national insurance

No but it is mentioned in the Student loan documentation. http://www.studentloanrepayment.co.uk/p ... ema=PORTAL" onclick="window.open(this.href);return false;

How repayments are calculated

How much you will repay

Your employer will take repayments from your salary during any pay period where your earnings before tax are over the weekly or monthly threshold.

By pay period, we mean each time you receive your salary. This could be every:

Week
Four weeks
Calendar month
The earnings threshold is:

£404 a week
£1,750 a month
£21,000 a year
You pay 9% of your income over the threshold

still it is a bit galling.

jetblack · Post by **jetblack** » 03 Nov 2016, 18:01

So basically, the guy with a young family (tax credits) still struggling to pay of his student debt that was desperate for a bit of cash will in fact likely walk away with about £2.50

Our money isn't our own.

toomuchcoke · Post by **toomuchcoke** » 03 Nov 2016, 18:28

jetblack wrote:So basically, the guy with a young family (tax credits) still struggling to pay of his student debt that was desperate for a bit of cash will in fact likely walk away with about £2.50

So basically, the guy with a young family (tax credits) still struggling to pay of his student debt that was desperate for a bit of cash will in fact have some of the student debt he was struggling to pay off, paid off ...

jetblack · Post by **jetblack** » 03 Nov 2016, 18:31

I didn't have student debt buddy - I was brought up in times, not so long ago, when education wasn't seen as a privilege, but a right.
Like I say, our money isn't our own.

barneyrotts · Post by **barneyrotts** » 03 Nov 2016, 18:51

stranglerscolin wrote:sold mine on the 21st,money in payslip today,,paid roughly 700 quid extra tax and n.i.,,so not quite a third,,
pleasantly surprised at that,,niceone

did you get full time quota for shares,if so thats good only paying 700 pounds in tax and insurance.so that must be around 2250ish.

focusbf · Post by **focusbf** » 03 Nov 2016, 19:17

National insurance after £827 a week is paid at 2% so 700 quid deductions is right

smoothie262 · Post by **smoothie262** » 03 Nov 2016, 19:34

Result

stranglerscolin · Post by **stranglerscolin** » 03 Nov 2016, 21:11

barneyrotts wrote:
stranglerscolin wrote:sold mine on the 21st,money in payslip today,,paid roughly 700 quid extra tax and n.i.,,so not quite a third,,
pleasantly surprised at that,,niceone
did you get full time quota for shares,if so thats good only paying 700 pounds in tax and insurance.so that must be around 2250ish.

aye mate full time,,,£2300 share money.

barneyrotts · Post by **barneyrotts** » 03 Nov 2016, 22:02

stranglerscolin wrote:
barneyrotts wrote:
stranglerscolin wrote:sold mine on the 21st,money in payslip today,,paid roughly 700 quid extra tax and n.i.,,so not quite a third,,
pleasantly surprised at that,,niceone
did you get full time quota for shares,if so thats good only paying 700 pounds in tax and insurance.so that must be around 2250ish.
aye mate full time,,,£2300 share money.

Brilliant,thanks.

postiept · Post by **postiept** » 07 Nov 2016, 16:09

Sold my shares, happy to do so as I'm only a Saturday contractor and as I don't earn enough I didn't have to pay tax, just national insurance. On payslip there is a share dealing deduction to entinite but my understanding was the money sent to royal mail from the share dealing company was after this fee was already deducted. Have we been charged twice??