Can i sell my royal mail staff shares
As a Royal Mail employee, you may have been granted shares in the company as part of your employment package. These shares are known as "Employee Share Scheme" (ESS) shares.
In general, you can sell your Royal Mail staff shares, but there are some restrictions and considerations to be aware of:
- Lock-in period: ESS shares are subject to a lock-in period, which means you may not be able to sell them for a certain period, usually 3-5 years, from the date of grant. This is to encourage employees to hold onto the shares for a longer period.
- Vesting schedule: The shares may be subject to a vesting schedule, which means they will only become fully exercisable after a certain period or when certain conditions are met.
- Tax implications: When you sell your shares, you will need to pay capital gains tax (CGT) on any profit made. You may also need to pay income tax on any dividends received.
- Market conditions: The value of your shares may fluctuate depending on market conditions, so it's essential to consider the current market value before selling.
- Company rules: Royal Mail may have specific rules or restrictions on selling ESS shares, so it's recommended to check with the company's HR or share scheme administrator before selling.
To sell your Royal Mail staff shares, you can follow these general steps:
- Check your share certificate: Verify the number of shares you hold, the type of shares, and the vesting schedule.
- Determine the market value: Check the current market value of your shares to determine their worth.
- Choose a broker: Select a reputable broker or online trading platform to sell your shares.
- Complete the necessary paperwork: Fill out the required forms and documentation to sell your shares.
- Pay any taxes: Set aside funds to pay any CGT or income tax owed on the sale.
Before selling your shares, consider consulting with a financial advisor or tax professional to ensure you understand the tax implications and any potential restrictions.