Use all your savings to buy shares at the option price and receive a NEXT share certificate.
If you want more control over the price at which you choose to sell your shares or wish to become a shareholder, you should select this option. You will then be sent a share certificate and once this is received, you can choose to sell your shares at any time in the future.
If you wish, you can also choose to give some or all of your shares to your spouse to keep.
Please note: Your share certificate can take up to 30 days to arrive from the date your instruction is processed by EQ, and will be sent at your own risk to your registered address.
Once you or your spouse/civil partner has received your share certificate you can sell your shares at any time.
You can sell your shares though a broker of your choice or through EQ’s Shareview Dealing Service at www.shareview.co.uk or by telephone on 0371 384 2030. EQ’s Shareview service allows you to specify a minimum sale price. NEXT employees have a discounted commission rate of 1.25% on the first £50,000, 0.2% thereafter, with a minimum £30 fee. To benefit from this discounted rate, you need to quote reference 32089 when submitting your instruction.
A Stocks and Shares Individual Savings Account ('ISA') allows you to hold onto your NEXT shares in a tax efficient manner as any growth in their value is free from Capital Gains Tax ('CGT').
You can transfer your NEXT shares into an ISA if your ISA provider agrees to hold the shares and you have not exceeded your annual ISA allowance (£20,000 in the 2023/24 tax year). You have 90 days from your exercise date in which to transfer your shares to an ISA. If your ISA provider requires written confirmation from EQ you can download a Letter of Appropriation via the portal.
Use all your savings to buy shares at the option price and sell them.
If you want to buy NEXT shares and sell some or all of them, Equiniti Financial Services Limited ('EFSL') Share Sale Service offers a low cost dealing service.
You will not be able to specify a minimum sale price and shares will be sold at the price available when the instruction is placed by EFSL. If you would like to specify a minimum sale price, you should elect to receive a share certificate (Choice 1). You can then sell your shares through a broker of your choice offering a price limit facility.
If the NEXT share price is higher than the option price of £43.38, you can opt to sell your shares and realise a gain. A gain is not guaranteed and your shares will not be sold if the share price is lower than the option price. The current share price can be found on the NEXT plc website at www.nextplc.co.uk.
If you make an instruction to sell all of your shares, you will receive an email confirmation and a confirmation will be visible on the ESP Portal homepage. Please be aware your shares may be visible in your ordinary share account for a period of time Whilst the sale is being processed. You should not make a further instruction to sell your shares. If you have any queries, please contact the Employee Share Plan helpline.
Alex has been saving £100 per month for 36 months into the 2020 3 year Sharesave and therefore will have savings of £3,600 on maturity. Alex can use the savings of £3,600 to buy 74 NEXT shares at an option price of £48.12 per share. Alex decides to do that and sell all of the shares. The sale price for the shares is £70.00.
Sale proceeds: 74 shares at £70.00 each = £5,180
Less dealing charge: £16
Total cash payable to Alex after sale: £5,164
Total option price paid for: 74 shares at £48.12 each = £3,560.88
Profit from the sale of shares: £1,603.12*
* This is before tax – see ‘Will I have to pay tax?’ in the FAQs section for important changes to the Capital Gains Tax (‘CGT’) annual exemption limit. If you are unsure about your tax position, you should consult an Independent Financial Adviser.
The above is for illustration only and is not indicative of future share price performance. Should you elect to sell the shares, the price at which you sell your shares may be different.
You will need to contact the EQ Helpline to request a Maturity instruction form.
Close your account and withdraw your savings.
If you want to take back your savings please contact the EQ helpline on or after 1 December 2023. You can still exercise your option at a later date as long as you do so within six months of your maturity date.
Use all your savings to buy shares at the option price and receive a NEXT share certificate.
If you want more control over the price at which you choose to sell your shares or wish to become a shareholder, you should select this option. You will then be sent a share certificate and once this is received, you can choose to sell your shares at any time in the future.
If you wish, you can also choose to give some or all of your shares to your spouse to keep.
Please note: Your share certificate can take up to 30 days to arrive from the date your instruction is processed by EQ, and will be sent at your own risk to your registered address.
Once you or your spouse/civil partner has received your share certificate you can sell your shares at any time.
You can sell your shares though a broker of your choice or through EQ’s Shareview Dealing Service at www.shareview.co.uk or by telephone on 0371 384 2030. EQ’s Shareview service allows you to specify a minimum sale price. NEXT employees have a discounted commission rate of 1.25% on the first £50,000, 0.2% thereafter, with a minimum £30 fee. To benefit from this discounted rate, you need to quote reference 32089 when submitting your instruction.
A Stocks and Shares Individual Savings Account ('ISA') allows you to hold onto your NEXT shares in a tax efficient manner as any growth in their value is free from Capital Gains Tax ('CGT').
You can transfer your NEXT shares into an ISA if your ISA provider agrees to hold the shares and you have not exceeded your annual ISA allowance (£20,000 in the 2023/24 tax year). You have 90 days from your exercise date in which to transfer your shares to an ISA. If your ISA provider requires written confirmation from EQ you can download a Letter of Appropriation via the portal.
Use all your savings to buy shares at the option price and sell them.
If you want to buy NEXT shares and sell some or all of them, Equiniti Financial Services Limited ('EFSL') Share Sale Service offers a low cost dealing service.
You will not be able to specify a minimum sale price and shares will be sold at the price available when the instruction is placed by the EFSL. If you would like to specify a minimum sale price, you should elect to receive a share certificate (Choice 1). You can then sell your shares through a broker of your choice offering a price limit facility..
If the NEXT share price is higher than the option price of £43.38, you can opt to sell your shares and realise a gain. A gain is not guaranteed and your shares will not be sold if the share price is lower than the option price. The current share price can be found on the NEXT plc website at www.nextplc.co.uk.
Alex has been saving £100 per month for 60 months into the 2018 5 year Sharesave and therefore will have savings of £6,000 on maturity. Alex can use the savings of £6,000 to buy 137 NEXT shares at an option price of £43.48 per share. Alex decides to do that and sell all of the shares. The sale price for the shares is £70.00.
Sale proceeds: 137 shares at £70.00 each = £9,590
Less dealing charge: £16
Total cash payable to Alex after sale: £9,574
Total option price paid for: 137 shares at £43.48 each = £5,956.76
Profit from the sale of shares: £3,617.24*
* This is before tax – see ‘Will I have to pay tax?’ in the FAQs section for important changes to the Capital Gains Tax (‘CGT’) annual exemption limit. If you are unsure about your tax position, you should consult an Independent Financial Adviser.
The above is for illustration only and is not indicative of future share price performance. Should you elect to sell the shares, the price at which you sell your shares for may be different.
You will need to contact the EQ Helpline to request a Maturity instruction form.
Close your account and withdraw your savings.
If you want to take back your savings please contact the EQ helpline on or after 1 December 2023. You can still exercise your option at a later date as long as you do so within six months of your maturity date.
If you have any questions about Sharesave, please contact EQ, NEXT's Sharesave Administrator:
If calling from overseas +44 (0) 371 384 2170
For deaf and speech impaired participants we welcome calls via RelayUK. Please see www.relayuk.bt.com for more information
The helpline is available between 8.30 am - 5.30 pm (UK time), Monday to Friday (excluding public holidays in England and Wales).
Please note that neither NEXT, nor its advisers, can provide you with investment advice. If you have any queries about acquiring NEXT shares you should consult your own independent tax, legal or financial adviser.
No information contained within this guidance or any accompanying document should be taken as providing any advice or as a recommendation to exercise or not to exercise your share option or to sell or not sell your shares – the choice is yours. If you are in any doubt as to the legal, financial or taxation implications (including any CGT considerations and the collection of such taxes) for you of the exercise of options, and/or the subsequent sale of shares, or the suitability of the EFSL service, you should seek the advice of an Independent Financial Adviser duly authorised under the Financial Services and Markets Act 2000.
Please remember that the price of shares, and any income from the shares, can go down as well as up, and that you may not recover the amount originally invested. Past performance is not necessarily an indication of a future share price value. It is advisable to keep copies of all documentation sent to Equiniti Limited (‘EQ’) in relation to the exercise of your options as you may need to refer to this information when completing future tax returns.
In order to facilitate and operate the scheme NEXT may hold, process and transfer personal data relating to you (including your bank account information) to third parties engaged by us for purposes related to the operation and administration of the scheme and/or in order to meet any legal obligation, in each case in accordance with our data privacy policy and applicable law.
Your savings, which are held with Lloyds Bank plc, are your own and are covered by the Financial Services Compensation Scheme (“FSCS”). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For further information about the scheme refer to the FSCS website www.fscs.org.uk or call the FSCS on telephone number 020 7741 4100 or 0800 678 1100. Alternatively, log onto www.lloydsbank.com for further information about the compensation scheme.
The detailed rules of the Plan govern participation and if there is any difference between this information and the formal rules and the legislation that governs the Plan, the rules and legislation and any applicable HMRC guidance shall apply and take precedence.
