Selling Free shares and student loan deductions

[mozsupportsrovers]

Hi, I was just wondering if anybody knew what would happen with student loan repayments in terms of getting the free shares (if you sell) through payroll? As will it look like you've "earned" this money and therefore student finance will take quite a hefty percentage?

Is it better to hold on till the 5 year stage when the money will go straight in to the bank like the dividends?

Thanks in advance to anybody who responds

[mickeymacca]

Hi, I was just wondering if anybody knew what would happen with student loan repayments in terms of getting the free shares (if you sell) through payroll? As will it look like you've "earned" this money and therefore student finance will take quite a hefty percentage?

Is it better to hold on till the 5 year stage when the money will go straight in to the bank like the dividends?

Thanks in advance to anybody who responds

I would think yes moz, hang on for 23 months mate (for the first batch anyway)

[chuckmorris84]

Yep, you get hit with a big student loan deduction mate. Sold mine 3 weeks ago and they've taken £263 from my shares money. Didn't even think of it until my wife mentioned it the other week. Bit annoyed about it now aswell!

[mickeymacca]

Sorry to hear that, thanks for confirming though mate

[chuckmorris84]

I've sent a complaint email and asked for something to be done about it as it's not right. Student loan deductions are to be taken from your wage/salary and the shares aren't classed as that. I've already taken a hit with the tax and national insurance so this is just another kick in the teeth having even more money deducted

[mozsupportsrovers]

Thanks for the replies. I thought it would deduct the student loan as going through pay roll... Oh well another 2 years it is then.