Shares and Maternity Pay

Mercyknight_2

I am currently on maternity leave and receiving maternity pay which at this stage of my maternity is totalling around £500.

I have shares (free ones which I will sell) and I have conditional ones which equal around £500 in value which are subject to national insurance and tax.

I am about to sell these shares, but could anyone give me a rough idea on how I may get taxed and to what level, for example it would mean that my salary next month would probably hit £1000... My tax code s 700L C at the moment. Any guidance would be appreciated.

mw2655

hi i'm not sure what you mean by "free" or "conditional" shares but you don't pay income tax on selling shares.

you pay capital gains tax on shares, on the gain from the price you bought them.

good news is there is a limit of >£10k gain before you need to pay any tax.

cheers matt