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SIP income tax query
harryjb92
Posts: 1 Newbie
I am looking to sell some shares from my share incentive plan before I have owned them for 3/5 years. I am aware that I will need to pay income tax and NI on them, however after searching the web I cannot find what percentage that will be. Has anyone had any experience selling shares before the 3/5 year mark? My salary is less than 40K so I am not a higher tax payer. Many thanks
0
Comments
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The sale proceeds will be added to your other income for the year and you'll pay tax/NI at your usual rate (i.e. the proceeds don't push you into a higher rate tax bracket, you'll pay basic rate tax and the usual rate of NI).Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1
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