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Can anyone answer this question please
I have my staff share and wonder if i will still have to pay tax and ni when im forced to sell as if so im set to lose loads as a lot of my shares where purchased at over £3 each.
There is no mention of what would happen on the AA share portal.
You're selling your stock for less than you paid for it, therefore I would think there are no capital gains to be paid.
Can anyone confirm?
So you will be forced to sell, but you won't have tax liability if you bought them above £3. Only pay tax if you make a gain.
However, If your shares were gifted to you for free (via work scheme) then you will make a profit and will have to pay tax.
Only pay Capital Gains Tax - so no national insurance and no income tax. You have a separate CGT tax free allowance of £12,300 and pay CGT above this. So unless your value is above £12,300 don't worry about it.
I personally think you are better off with this taken private as an employee as the Bidco are injecting £378m to pay down debt
My wife is also in the aa employee scheme which matched every share bought with one off the aa still dont know if these matched shares will be paid on her statement it says she has 9700 shares
I hope the matched shares do become ours considering we should class as a good lever as they broke the contract and not us, I'm holding just shy of 17,000
And massively down patrol like my wife what a joke this company has become think first time we started buying they were £2.50 a share thought at the time it was a no brainer learnt the hard way
Even on the buy one get one free i still stand to lose a substantial amount before ny fees.
Check with the institution which administrates the AA saye scheme, example Equiniti , you should be classed as a “ good leaver “ ( as though the shares and matching shares have matured and receive payment ) but check with the company concerned
GLA
If I'm reading that correctly we keep them under TUPE
I'm sure someone will be along soon to point out if I'm incorrect.
b) I cease to be in Relevant Employment unless the employment ceases for one of
the following reasons:
(i) injury or disability
(ii) redundancy
(iii) transfer of employment to whichTUPEapplies
(iv) my employing company ceases to be an associated company
(v) retirement
(vi) death.
Employees will receive a separate communication regarding the share scheme.
Its a kick in the teeth 35p but I'd recommend reading the first 20 pages of the offer document. It would appear the BOD did speak to current lenders and were advised refinancing would not be viable without a significant cash injection. How accurate that is or how hard they tried is a different matter. Really not sure on what will happen going forward. Can't see this getting accepted but not sure what other options there are if refinancing is a no as is a dilution.
We are getting matching shares and no tax on losses apparently, also it states that the shareholder meeting is the 21st January
The money taken from our wages for the shares was taken out before tax and NI was taken, so in effect we will owe the tax man money weather your in profit or not, but time will tell, it is pretty close to the deadline of being tax free.