baye shares

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??
Live in my shoes for a week,then tell me your lifes hard!

Comments

  • le_loup
    le_loup Posts: 4,047 Forumite
    Lot more information required. Is this a staff scheme?
  • chris_m
    chris_m Posts: 8,250 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.2K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.2K Spending & Discounts
  • 243.1K Work, Benefits & Business
  • 597.5K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.