Share Incentive Plan (SIP)

Evergreen68

I retired from work and received shares (partnership, matching and dividend) tax and NI free as I was classed as a good leaver. 

Does anybody know what happens if I decide to return to work. Will I need to pay the tax and NI on these shares ?
None of the shares had been held for 5 years. 

Thanks in advance for any help. 

george4064

If you were classed as a ‘good leaver’ and you didn’t have to pay tax or NI on the shares then I would imagine that your company just paid the tax/NI for you without you having to wait out the full 5 years. HMRC certainly wouldn’t just scrap the tax liability for you.

By returning to work, certainly HMRC can’t claim anything back as they’ve got their money. However with regard to your company that you retired from, unless there was some sort of clawback provision then I think you’re fine.

Out of curiosity, are you rejoining the same company that you worked at just before your retirement?

Evergreen68

Thanks George4064. It’s a different company I’m considering coming out of retirement for. 😀