Equinity Fee/Adjustment

ratchet · Post by **ratchet** » 05 Jan 2017, 13:10

Having left Royal Mail in November, my shares have been sold (or I had the option to pay the tax on them

).

Sale Value £1576
Tax Paid -£507
NI -£95
Equinity Fee/Adjustment -£118

This leaves me with £854.

Anyone know what the Equinity Fee/Adjustment of £118 is comprised of ?

I expected a charge of around £17 from Equinity to sell the shares

Post by **TrueBlueTerrier** » 05 Jan 2017, 13:53

The bumph does say 0.5% of £17.50 minimum (£17.50 is more than .5%)

There is a contact number on their website - I'd ring them 0800 012 12 13

ratchet · Post by **ratchet** » 05 Jan 2017, 16:02

Thanks TBT

I've just dug out the Equinity Sale advice letter in order to look into this further.

They stated the Gross Sale Proceeds as being £1475.35 (323 X £4.567) minus £17.50 dealing fee - so £1457.85 was sent to my Employer. Having checked the share value for the date in question - Equinity's figures are correct.

The Royal Mail payslip I've received states the Sale/Transfer value as being £1576.56 - if I then subtract the Equinity Fee/Adjustment of £118.71, I then end up with the very same figure (£1457.85) that Equinity sent to Royal Mail.

Therefore the net shares payment I've received appears to be tally - So why are Royal Mail inflating the sale proceeds by just over £100 on the payments side of my payslip, and then deducting just over £100 on the deductions side of my payslip

I'll hazard a guess that it's to do with the taxman - as they've bumped up the payments side by £100, I'll have paid more tax and NI.............. I'm not bothered about the tax as I'm leaving the country and will be claiming it back at the end of the year.

But it might be something you guys may wish to keep an eye on should you sell your shares in the near future.