Company share scheme

bev309

I wonder if anyone could help.
I have some shares that I have just sold from a share scheme at work. They are subject to tax & NIC's.
I understand that they will be taxed at the normal rate & paid in my salary at the end of the month.
My query is, that I only work 16hrs per week & I don't normally earn enough to pay any tax & minimal NIC's, so would there be any rebate due as a result of the large amount taken from the shares this month, or is it just gone?
Not being greedy, just want to know how it works !!
Thanks:beer:

[Deleted User]

Hi,

was this a share save scheme that would've run for 3 or 5 years, and you have opted out?

bev309

[Deleted User] wrote:

Hi,

was this a share save scheme that would've run for 3 or 5 years, and you have opted out?

It is a share incentive plan - we are given free company shares every six months based on company performance. We have to hold them for a minimum of 3 years before we can sell them. If we hold them for 5 yrs then we can sell them tax & NIC free.
Thanks

[Deleted User]

Hi,

sorry can't help, some Q&A's here, though you may already have this info.

bev309

[Deleted User] wrote:

Hi,

sorry can't help, some Q&A's here, though you may already have this info.

Thanks - yes I read all that info when I was looking into things a few weeks ago, thanks again all the same!:beer: