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Selling shares

faevilangel Avatar
6y, 4m agoPosted 6 years, 4 months ago
I have just been told by my employer that I can sell some of my shares but they are subject to NI and Tax.
I earn £9k ish a year so well under the 40% tax band, so would pay 22% tax but what would I pay in NI?

The amount is £1,300 so what would I likely take from that?

Maths isn't my strong point.

Cheers
faevilangel Avatar
6y, 4m agoPosted 6 years, 4 months ago
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Comments/page:
#1
22% of £1300 is £286
so you would end up with £1014.00
#2
you can sell shares and make approximately £7k ( this figure is few years old)profit a year without paying Tax
#3
We talking Tesco ordinary shares here?? You pay about £20 to the registrar to sell them and on that amount probably about £15 on top
#4
Your text here

that site should give you more info.

If the overall gain is below the annual tax-free allowance (known as the ‘Annual Exempt Amount’), there's no Capital Gains Tax to pay. The Annual Exempt Amount for individuals is £10,100 for 2009-10 and 2010-11.

In a nutshell, you can make £10,100 profit without being taxed. Might want to phone up the gov though... double check.
#5
DIVA1977
We talking Tesco ordinary shares here?? You pay about £20 to the registrar to sell them and on that amount probably about £15 on top


Yup, Tesco shares ;)

0.5% of the transfer fee (minimum of £17.50) + Tax

From what I can work out, as it's my first lot of share selling, and I have sold nothing else to pay CGT on my allowance will be £10k so I won't pay any tax on them?

This is all gobby gook to me, I hate numbers lol
#6
Yup you wont pay tax as its the profit you make which is taxable income. I used to work for T's and OH is a manager and he never pays Tax and earns a lot more than you. You just have to pay cost of selling them.
ONly time you pay Tax if is your selling them before they fully matured.

HUbby had a letter recently showing all he owns and when they mature. Eg he has 232 shares he can sell now tax free,but he could also sell his S.A.Y.E that arent due to mature unti 2011 and 2012. OF course if he did this he wouldnt get his tax free bonus and would pay tax and NI on these.

So just make sure your not being advised badly. If its save as you earn you will have the certifcate for ones you can see tax free. The shares in success have chnaged since i worked with Tesco and i would have to ask OH about them
#7
DIVA1977
Yup you wont pay tax as its the profit you make which is taxable income. I used to work for T's and OH is a manager and he never pays Tax and earns a lot more than you. You just have to pay cost of selling them.
ONly time you pay Tax if is your selling them before they fully matured.

HUbby had a letter recently showing all he owns and when they mature. Eg he has 232 shares he can sell now tax free,but he could also sell his S.A.Y.E that arent due to mature unti 2011 and 2012. OF course if he did this he wouldnt get his tax free bonus and would pay tax and NI on these.

So just make sure your not being advised badly. If its save as you earn you will have the certifcate for ones you can see tax free. The shares in success have chnaged since i worked with Tesco and i would have to ask OH about them


The shares are buy as you earn & shares in sucess.

I spoke to a financial advisor and cos I get the shares in success as part of my wages (a bonus in theory) then I would pay NI and tax on them but not sure on the buy as you earn?

They aren't fully matured as they are only 3 years old. I have 67 shares in success that I can sell and 265 buy as you earn. I would love to be able to use the money than rather keep it as it will pay for my driving lessons. :-D
#8
as you have only had them for 3 years you have to pay tax and ni on both the buy as you earn and your free shares.your money will come through your wages which will bump up your yearly earnings so be careful if you claim any kind of tax credits. you can go onto the equinty website and register on there and set up a portfolio of all your shares and you can also sell them on there.
#9
if you need anymore help let me know as i have sold many of these shares over the years

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