Buy as you earn / share incentive plan

Troxy

I understand that if you leave a company early and hold shares in a sip scheme of less than 5 years then you are due tax and NI on these. If you leave a company early in the tax year (so that you are well below the personal allowance) and do not get another job, is there then no tax and ni due because you will not have reached the threshold to pay these?

Brie

It normally depends on why you leave the company if tax & NI are payable.  If it's due to retirement or redundancy it's likely they won't be payable but if you quit or are fired they are.  

I suspect that if you have quite or are fired and earn very little in the tax year tax & NI will still be deducted but you would get the tax refunded.