Partnership share matching scheme December?

[royalanneb]

Having problems logging on to ESP PORTAL. Anybody else getting problems when trying to check their shares?

[james]

June update 15/06/23

44 shares purchased @ £2.11 + 2 free per £100 gross/monthly investment.

[billycat]

can somebody tell me is there a specific date when you can sell the shares tax free.

[RobertT]

can somebody tell me is there a specific date when you can sell the shares tax free.

Five years after you purchased them, unless you're a 'good leaver'.

The P&M booklet is here:
https://www.myroyalmail.com/sites/defau ... 0FINAL.pdf

[billycat]

Thanks robert for all the information you provide.

[robking]

Having problems logging on to ESP PORTAL. Anybody else getting problems when trying to check their shares?

Yes the website seems to have become a bit of a mess where you go to https://www.esp-portal.com/1/Eportal/rm ... lcome.aspx
and it says 'website coming soon'

But if you do go onto that page and then click on the RM logo at the top, you are then taken to the signing on page, I've signed on to it today and all is normal.

[robking]

can somebody tell me is there a specific date when you can sell the shares tax free.

Five years after you purchased them, unless you're a 'good leaver'.

The P&M booklet is here:
https://www.myroyalmail.com/sites/defau ... 0FINAL.pdf

On the portal there is a planner where you can adjust the dates to see how many shares fall into each of the three categories on any future date. After doing a bit of experimenting I found that the earliest date that I can sell any shares tax free will be 16/10/23.

I joined the scheme when it first started and only a small number of shares come into tax free status that first day, but every month thereafter more shares will join them in the tax free category.

[Beamer]

I could well be leaving RM in a few months as I’ve been offered another job. I know I can’t sell any shares tax free as the scheme hasn’t been running 5 years yet. I assume I can sell shares which I bought over 3 years ago as long as I pay tax and NI. How do I let them know I want to come out of the scheme and what happens when I do? Do I lose the shares that are still there or do I get my money back?

[robking]

I could well be leaving RM in a few months as I’ve been offered another job. I know I can’t sell any shares tax free as the scheme hasn’t been running 5 years yet. I assume I can sell shares which I bought over 3 years ago as long as I pay tax and NI. How do I let them know I want to come out of the scheme and what happens when I do? Do I lose the shares that are still there or do I get my money back?

You can sell all the partnership shares but any that you've had for less than 5 years will be taxed at the lower of 1. the amount you paid to purchase them or 2. the value of the shares when they are sold.
There have been some wild variations of the share price since the scheme started so I'd leave it to the experts to sort the tax out.
All the bonus shares you've had for less than 3 years will be forfeited but those that are between 3 and 5 years old can be sold and tax paid - on the sale value.

[robking]

Maybe James is on holiday so I'll jump in:

July update 17/07/23

46 shares purchased @ £2.50759p + 2 free per £100 gross/monthly investment.

Incidentally anyone who has been in this scheme since it started nearly 5 years ago and never sold a share is now in profit, excluding dividends, the current break even point seems to be around £2.50 and with the price at £2.59 those saving the maximum £100pm (£23.07pw) are £200 to the good.

[posted]

Maybe James is on holiday so I'll jump in:

July update 17/07/23

46 shares purchased @ £2.50459p + 2 free per £100 gross/monthly investment.

Incidentally anyone who has been in this scheme since it started nearly 5 years ago and never sold a share is now in profit, excluding dividends, the current break even point seems to be around £2.50 and with the price at £2.59 those saving the maximum £100pm (£27pw) are £200 to the good.

Assuming that’s £6k gross invested, £200 is quite pittance, does that include the matching shares too?
Net would be about £4k, which still isn’t great.

[robking]

Maybe James is on holiday so I'll jump in:

July update 17/07/23

46 shares purchased @ £2.50459p + 2 free per £100 gross/monthly investment.

Incidentally anyone who has been in this scheme since it started nearly 5 years ago and never sold a share is now in profit, excluding dividends, the current break even point seems to be around £2.50 and with the price at £2.59 those saving the maximum £100pm (£27pw) are £200 to the good.

Assuming that’s £6k gross invested, £200 is quite pittance, does that include the matching shares too?
Net would be about £4k, which still isn’t great.

All very true but at least we're now in positive territory and don't forget we've had some dividends as well.
Over the past few years I've been a bit concerned that I might end up losing money from this scheme, but it now seems that the only way is up.

[Rwsty]

why gross and net? all shares are bought before tax, that's the incentive. £6 grand in shares bought has effectively cost you £4 grand. you would have paid the extra £2 k in tax had you not bought the shares if your tax rate is 32% ish

[wolfman]

Do we stop paying for the shares after 5 years, I can't remember lol. If so what is the last pay date?

[Jefferson Starfish]

Do we stop paying for the shares after 5 years, I can't remember lol. If so what is the last pay date?

You can start/stop buying shares whenever you want, or until RM decide to close the scheme.

5 years is how long you need to hold each monthly batch before they become completely tax free, unless you're a good leaver.