baye shares

peediedj

i currently pay £40 a month out my wages towards travis perkins shares, iam a bit short on cash and am thinking of selling them , been buying them for well over 3 years can i sell them/cash them in now and if so does anyone know if any penalties invovled??

le_loup

Lot more information required. Is this a staff scheme?

chris_m

I assume that "baye" stands for "Buy As You Earn", in which case you need to check the terms of the scheme.
I suspect that it is one where you can buy the shares out of your pre-tax income, in which case there will probably be a term during which you cannot sell at all, definitely another during which you can sell but have to pay tax (and possibly NI) and, finally, a time after which you can sell tax-free. Only the rules of the scheme will tell you what your options are.