Sold shares

LouBarlow · Post by **LouBarlow** » 11 Apr 2017, 08:14

fb1969 wrote:My redundancy payment was in the October, so half just over half way through the tax year, and I was taxed at 40% and given a higher rate tax code. At the time I had no job lined up and wasn't going to claim Job Seekers' Allowance, so just wanted a straight refund of the overpayment. Not the same position as you.

I was sent the forms and had to show all of my income received that year (savings interest etc as well as pay) and an estimate of how much more I expected to earn. Around the December I received a cheque for the overpayment. At the end of the tax year I received a further refund, I guess because they saw I hadn't claimed any JSA.

Experience from my previous job was that HMRC either refund the whole amount, or sometimes readjust the tax code so that less tax was paid for the remainder of the tax year - possibly after they'd noticed the regular amount would mean less than £45001(the 40% threshold) would be earned that year. That was pre-2011 so they may have changed their systems since then. I was in a government job and tax was deemed to be a "personal matter" so I could only advise on experience rather than facts or rules.

I don't know if they could reassess your tax code at this stage, or depending on your plans as you are leaving they may do it then. If I was in my previous job and advising you then I would suggest you call HMRC again and explain that the amount you received was due to selling RM shares and was a one-off figure - stress the shares were part of the privatisation process so count as wages and are not subject to Capital Gains Tax. You will be reverting to your regular salary immediately and your income for the tax year will be below the 40% threshold - they should see this from this week's pay.

Very useful. Thank you.

Andy_07 · Post by **Andy_07** » 11 Apr 2017, 12:04

Jefferson Starfish wrote:
Andy_07 wrote:I thought we could sell our next allocation of shares today is that correct ?
Yes.

I have 101 shares 'conditional' but none 'available' - How do i sell them then ?

Post by **RobertT** » 11 Apr 2017, 15:28

Andy_07 wrote:I have 101 shares 'conditional' but none 'available' - How do i sell them then ?

I'm sure if you read through some of the threads on here you'll find out.

LouBarlow · Post by **LouBarlow** » 13 Apr 2017, 05:45

Just an update on this - had my wages go in this week with corrected tax, so it was obviously sorted somewhere along the line.

Anyway, happy now. Seems the correct amount without actually seeing my payslip yet.

mattgrowler · Post by **mattgrowler** » 20 Apr 2017, 18:39

Anyone know when the latest quota of sold shares money will be paid to us?

bullhead · Post by **bullhead** » 20 Apr 2017, 23:37

mattgrowler wrote:Anyone know when the latest quota of sold shares money will be paid to us?

5th of May

LouBarlow · Post by **LouBarlow** » 22 Apr 2017, 15:23

mattgrowler wrote:Anyone know when the latest quota of sold shares money will be paid to us?

I got my letter through saying mine had sold on the 18th so I'm expecting payment in next week.

dunnda11 · Post by **dunnda11** » 23 Apr 2017, 07:38

mattgrowler wrote:Anyone know when the latest quota of sold shares money will be paid to us?

Sold on the 9th April and told by Equiniti I'd be paid on the 28th

Andy_07 · Post by **Andy_07** » 24 Apr 2017, 16:38

LouBarlow wrote:
mattgrowler wrote:Anyone know when the latest quota of sold shares money will be paid to us?
I got my letter through saying mine had sold on the 18th so I'm expecting payment in next week.

Same as me , It says it's been sent to your employer to be paid through payroll at the earliest opportunity , So i'd imagine it will be this Friday (28th)

gary1975 · Post by **gary1975** » 24 Apr 2017, 16:46

Don't hold your breath it took ages last time

moomoo68 · Post by **moomoo68** » 24 Apr 2017, 18:36

What's the website address to sell your shares ?

Oliverclements · Post by **Oliverclements** » 27 Apr 2017, 13:46

A lad a our place sold all his conditional shares and got paid today but they taxed him 1200 seems way to much? Anyone else get this?

Postie45 · Post by **Postie45** » 27 Apr 2017, 16:26

moomoo68 wrote:What's the website address to sell your shares ?

https://www.esp-portal.com" onclick="window.open(this.href);return false;

Post by **TrueBlueTerrier** » 27 Apr 2017, 16:38

Oliverclements wrote:A lad a our place sold all his conditional shares and got paid today but they taxed him 1200 seems way to much? Anyone else get this?

Yes, it happens to everyone who does it at the start of a new financial year. RM don't separate it from pay so HMRC thinks they have a had a pay rise that automatically puts them in the next tax band. It usually sorts itself out over the next few weeks with Tax refunds coming as a minus deduction in the 2nd column.

Tell him not to panic it will sort itself out fairly quickly.