stephen hughes wrote:hi all,the issue price was £3.30 so you will be taxed 20 per cent plus 12 per cent national insurance,plus selling fee of around £20, total around £648 roughly on 613 shares.
Sorry but that is inaccurate.
The initial IPO price was £3.30, but that has nothing to do with our free shares.
The Free Shares value was determined by the closing mid-price on the day of allocation. Which on 15 October 2013 was £4.89
The amount of Income Tax(20%) and National Insurance(12%) that’s payable is worked out as the lower of:
The market value at the time they are allocated (£4.89)
Or
The market value when you remove them from the SIP(sell them) (today £5.26)
https://www.myroyalmail.com/sites/defau ... ochure.pdf" onclick="window.open(this.href);return false; Page 22 for reference.