Do you keep royal mail free shares when you leave

When you leave Royal Mail, you are entitled to keep the shares you received as part of your employee share scheme. This is because the shares are held in a separate account in your name, and you have the right to retain them.

Royal Mail's employee share scheme, known as the Royal Mail Share Scheme, allows employees to purchase shares in the company at a discounted rate. The scheme is designed to encourage employee ownership and participation in the company's success.

When you leave Royal Mail, you can choose to sell your shares, hold onto them, or transfer them to a family member or other eligible individual. You will need to notify Royal Mail's share scheme administrator, Computershare, of your decision and complete any necessary paperwork.

It's worth noting that if you leave Royal Mail and are under the age of 55, you may be subject to a 5% tax charge on the value of your shares. This is because the shares are considered to be a benefit-in-kind, and you will need to pay income tax on the value of the shares at the time of your departure.

However, if you are over the age of 55, you will not be subject to this tax charge, and you can keep your shares without incurring any tax liability.

It's always a good idea to review your employee share scheme documentation and consult with a financial advisor to understand your options and any potential tax implications when leaving Royal Mail.