Transferring Tesco Shares

DRS1

It is certainly true that SAYE Schemes are more popular than SIPs so the chances are you may be right. Hopefully the OP will be back some time to tell us

eric4395

Thanks for the many replies wife is going to check with Tesco regarding these shares. What type etc

barafear799

Hi - just like to come in with what I know (being a Tesco employee). Your wife should have access to an Equiniti account (shareview.co.uk or similar) - within there she can see what "type" of shares she has.

I think the assumptions made by others suggest she's been in several SAYE schemes - so these shares tend to be held in a nominee account.

On your wife's account on equiniti - there might be four different sections for her shares:

Sharesave - these will be for any current ongoing SAYE scheme she is in - and this will be the shares she would be able to "buy" at the maturity of the plan - this assumes she still works for Tesco and these are still live - I believe for "leavers" it would simply be a case of monthly contributions being returned.

SIP (Share Incentive Plan) - many years ago all staff were often given free shares as part of "shares in success" (basically a staff bonus) - this did stop around 2012 ish….but if your wife was a senior manager at Tesco this may still have been part of her remuneration - these are indeed "free" - but as someone else said, they needed to be held for 3 or 5 years to avoid having to pay tax/NI when selling.

Shares - I think this is just if you happened to use Equiniti as a broker to buy Tesco shares - so this is likely to be "empty" unless part of your wife's portfolio was purchased in this fashion (it may also include shares bought under BAYE - I'm not sure…I sold mine a while back - so they may have previously have sat in this "section"

Corporate Sponsored Nominee - this is likely to be where any shares "bought" via SAYE end up if "buy shares and keep" is the option chosen at maturity. Equiniti recently (about 8 months ago) introduced an admin charge to transfer shares from this to another broker - I believe it is £10 - although it may be higher for higher amounts.

I'm not an expert on CGT - but I think a previous poster summed it up quite well. And it also seems that it's too late to "put any of these shares" (in the CSN account) into an ISA - if not already done so within 6 months of maturity of each plan.

And as also stated previously the "free shares" she receives twice a year are likely to be from DRIP (Divi reinvestment programme) - and if they going into the SIP section they also attract the same 3 or 5 year "vesting period". But you're ok if they are simply on any shares in the other sections.

Hope that helps.