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UK fish - 1) Level 2) Salary 👇GO!
Post PA outcomes here!
Why is this bowl so cold? 😀
What are the pay grades for C's and M's in S&C?
Can anyone tell me the Manager bandings for S&C?
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It’s a no brainer. 15% free money. Do it.
When you do the calcs it's more like 8% after tax etc. but still okay...
It might not be relevant for you but as it comes out of your pre tax pay it can help come below certain thresholds for example access to tax free childcare
Rising Star
A4 what are you smoking? It doesn't come out of pre-tax at all.
Do you need to pay CGT when selling the shares?
I believe so if your profits are over the allowance (£3k)
But how about tax, fees etc?
Half of 15% free money, so.
It's still free money.
When do you pay tax? When you purchase the shares or when you sell them? Or both?
When you purchase them.
You probably won’t have to pay much savings tax when you sell them, if at all. Depends on how much money you made selling them.
What percentage of your salary should you put towards it?
Whatever you feel comfortable with. I put in 10%. The more free money the better.
I would’ve thought you get taxed when you sell? How do you get taxed at purchase?
What would be better - share withholding or paying it as a deduction?
Also is there anything else to consider, e.g. fees? Etc
So share withholding is better than automatic tax deductions?
Is it true that overtime payments/bonuses automatically go towards buying shares?
Yes it’s % off your pre tax income for that month so on bonus month you contribute more to the shares pot. It’s automatic so you can’t stop it
Do you also get dividends with ESPP?
Rising Star
Once you own the shares, yes