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HM Accountax Ltd
HM Accountax Ltd, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 172
Experience:  I am an accountancy professional with more than10 years hand on experience in audit, accountancy and tax affairs.
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Just so I know, is this a robot or an actual person? :) no,

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Hi
JA: Hi. How can I help?
Customer: Just so I know, is this a robot or an actual person? :)
JA: Yes, I'm a bot. I make the process of talking to the Accountant more efficient and affordable by asking basic questions. Have you talked to a tax professional about this?
Customer: no
JA: Anything else you want the Accountant to know before I connect you?
Customer: I got a Share Incentive Plans (SIPs) from my company 2 years ago that will vest in two weeks. They're worth about 18k GBP at current price. I think if I sell them, the money will be paid via PAYE and taxes will be around 40% (highest bracket). Is there any better finantial decision I can make? I don't need the money now, but would prefer to sell at least half of the shares. Looking to pay the least amount of taxes

Hi

I am an advisor at Just Answer and i am more than happy to assist you.

You can delay the disposal or alternatively, invest the money in pension and it will save you tax at 20%.

I hope this answers the query.

Regards

HM Accountax

Customer: replied 8 days ago.
Thanks! That was quick :)
I don't need the money now, but at the same time I would prefer to sell at least half of them to invest for example in an ETF to diversify. Not interested in putting towards pension.
The link below shows the following:
https://www.gov.uk/tax-employee-share-schemes/share-incentive-plans-sips
"If you get shares through a Share Incentive Plan (SIP) and keep them in the plan for 5 years you won’t pay Income Tax or National Insurance on their value."If that's the case, I would probably consider waiting 3 more years if that means no income tax nor national insurance.

Exactly, please delay it and you'll save tax.

Regards

HM Accountax

HM Accountax Ltd and other Tax Specialists are ready to help you