SAYE shares question

[hubbahubba]

If I buy shares with my SAYE money in December,is it possible to sell these AND some of my SIP shares as one transaction,thus saving on paying 2 traders fees to Equiniti?

[wandle]

If I buy shares with my SAYE money in December,is it possible to sell these AND some of my SIP shares as one transaction,thus saving on paying 2 traders fees to Equiniti?

I think that may be unlikely, but until they write to us, I cannot be sure. I don't even know if we get to convert our savings into shares without paying brokers' fees and 0.5% Stamp Duty (which is normally levied on share purchases).

[RobertT]

If I buy shares with my SAYE money in December,is it possible to sell these AND some of my SIP shares as one transaction,thus saving on paying 2 traders fees to Equiniti?

I think that may be unlikely, but until they write to us, I cannot be sure. I don't even know if we get to convert our savings into shares without paying brokers' fees and 0.5% Stamp Duty (which is normally levied on share purchases).

I think the SAYE shares will be in a separate account with Equiniti and they will be tax free when selling them, while the SIP shares are still subject to income tax and NIC’s. So I agree that it’s probably unlikely you’ll be able to treat them as one transaction, until at least the 5 years for each free allocation have expired.

I was under the impression(maybe wrongly) that there were a certain number of shares put aside for the SAYE scheme at or soon after privatisation, therefore there won’t be any brokers involved and so no fees either.

[wandle]

If I buy shares with my SAYE money in December,is it possible to sell these AND some of my SIP shares as one transaction,thus saving on paying 2 traders fees to Equiniti?

I think that may be unlikely, but until they write to us, I cannot be sure. I don't even know if we get to convert our savings into shares without paying brokers' fees and 0.5% Stamp Duty (which is normally levied on share purchases).

I think the SAYE shares will be in a separate account with Equiniti and they will be tax free when selling them, while the SIP shares are still subject to income tax and NIC’s. So I agree that it’s probably unlikely you’ll be able to treat them as one transaction, until at least the 5 years for each free allocation have expired.

I was under the impression(maybe wrongly) that there were a certain number of shares put aside for the SAYE scheme at or soon after privatisation, therefore there won’t be any brokers involved and so no fees either.

I believe you are correct.
I also remember in the Prospectus, prior to flotation, there being an option (but only an option) for the company to offer a SAYE scheme where shares are purchased through payroll and additional shares are allocated on a '1-for-3' basis. Royal Mail have not as yet offered employees this opportunity... But would not need shareholder approval to do this, as it was in the Prospectus