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Company share Matching Scheme - Reduce Tax
pagraham
Posts: 1 Newbie
in Cutting tax
Hi, and thanks in advance for any response's to this.
I work for a company that offers a share matching scheme, currently the share scheme operates over a 3 year window.
I work for a company that offers a share matching scheme, currently the share scheme operates over a 3 year window.
Each year i purchase shares via a monthly mandate, at the end of the year this gives me an annual total that is then left for a 3 year vesting period, after 3 years the company then gives a additional allocation based upon the number i bought 3 years earlier. because this is a 3 year investment, the value of the additional allocation I then pay TAX & NI, i leave the the shares within my share account and have never made a withdrawal.
I have read that if shares are invested for 5 years, they are exempt TAX & NI, but potentially I may be liable for capital gains TAX when i withdraw forms the account.
I hoping that there is a way i can claim the TAX paid after the 3 year vesting period because i have the shares reinvested, some for much longer then the 5 years required for exemption, any advice would be appreciated.
Many thanks
I have read that if shares are invested for 5 years, they are exempt TAX & NI, but potentially I may be liable for capital gains TAX when i withdraw forms the account.
I hoping that there is a way i can claim the TAX paid after the 3 year vesting period because i have the shares reinvested, some for much longer then the 5 years required for exemption, any advice would be appreciated.
Many thanks
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