Non-company Sharesave schemes
Discussion
Quick question... does anyone know of any 'sharesave'-type schemes that operate independently of a specific employer?
For the last few years I've been enjoying the benefits of one with my employer - money out of gross salary each month for three years, get the principal back at the end plus an interest-bonus, use to buy company shares at a discounted option price that can then be cashed in. Unfortunately they are no longer offering the scheme - there is a replacement, but it's nowhere near as profitable.
I'd like to continue putting that money away - and obviously I can just drip it into an ISA or similar. But if there's a scheme to realise the tax benefit of saving for the three-year period - if it still exists - I'd be very interested in that...
For the last few years I've been enjoying the benefits of one with my employer - money out of gross salary each month for three years, get the principal back at the end plus an interest-bonus, use to buy company shares at a discounted option price that can then be cashed in. Unfortunately they are no longer offering the scheme - there is a replacement, but it's nowhere near as profitable.
I'd like to continue putting that money away - and obviously I can just drip it into an ISA or similar. But if there's a scheme to realise the tax benefit of saving for the three-year period - if it still exists - I'd be very interested in that...
Unfortunately, if i'm understanding you right, there is no tax advantaged way to regularly acquire shares in a company in the same way as a sharesave works.
There are products like the Halifax sharebuilder that has limited dealing charges. Essentially you DD, say, £20 a month to them. They then buy the shares of your choice on a set date (thus being able to minimise dealing charges). Its been quite a few years since I used the service but of the £20 you got about £18.50's worth of shares. I used it as something slightly more exciting than just sticking money in an ISA and after buying Tesco shares for 3 years (between 2003 and 2006) at £20 month I got a decent amount back. Looking at the share price now it was at about 210p in 2003 and 330p in early 2006.
The other tax efficient ways to buy shares would be something like a SIPP but I believe you are still wanting to get the cash if needs be?
There are products like the Halifax sharebuilder that has limited dealing charges. Essentially you DD, say, £20 a month to them. They then buy the shares of your choice on a set date (thus being able to minimise dealing charges). Its been quite a few years since I used the service but of the £20 you got about £18.50's worth of shares. I used it as something slightly more exciting than just sticking money in an ISA and after buying Tesco shares for 3 years (between 2003 and 2006) at £20 month I got a decent amount back. Looking at the share price now it was at about 210p in 2003 and 330p in early 2006.
The other tax efficient ways to buy shares would be something like a SIPP but I believe you are still wanting to get the cash if needs be?
[quote=Gizmoish]
I'll look at SIPPs then. No need to get the cash - if anything the idea is to put t somewhere I can't get it.
[/quote
Until you retire? That's how long - SIPP is a pension of course. Not sure how old you are but you might want it in 10 years time or so. You'll be stuffed then if it's in a SIPP.
I'll look at SIPPs then. No need to get the cash - if anything the idea is to put t somewhere I can't get it.
[/quoteUntil you retire? That's how long - SIPP is a pension of course. Not sure how old you are but you might want it in 10 years time or so. You'll be stuffed then if it's in a SIPP.
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