• FLM Wealth Management

Understanding share schemes

In the twelfth episode of the Free Like Me podcast from FLM Wealth Management, Jessica Griswood, Tax Adviser, and James Palmer, Tax Adviser, join host Ben Smith, Senior Adviser. In this episode, the trio discuss the share schemes and how listeners can make the most of them. The Free Like Me podcast aims to help people just like you navigate the complex world of financial planning.

Ben kicks off the episode by asking Jess why she feels this is an important topic to talk about on the podcast. She shares that they are an increasingly popular employee remuneration scheme in the UK. James adds that they’re already very popular in the US and have been making their way into the UK. He also says that there are many complicating factors in share schemes which can make them difficult to navigate.

Ben continues, asking our guests to explore what the key problems surrounding share schemes are. Jess advises that one of the primary issues is that, unlike a salary or regular cash bonus, share schemes vest at different times. Being mindful of your vesting schedule is vital for forward planning. It can also affect your tax code and make it differ from what is expected. She suggests seeking advice if you find yourself surprised.

James builds on that, saying not only are the varying schedules difficult to manage, but there is also an excess of jargon used that can add to confusion.

Ben then starts a game of ‘Jargon-Busting’ where the advisers tackle some of the most common jargon and what they really mean.

Together they go on to discuss how this benefit can impact an individual's financial futures. Jess expands on how it can increase a person’s financial wellbeing, but that it can also make finances more complicated.

From there, James takes listeners through some of the solutions and options around share schemes. Jess then explains planning efficiently with spousal tax allowances.

The trio round off the episode by exploring how share schemes can impact tax planning. They also share their top tips for listeners about share schemes.

If you’d like to hear more about navigating the world of financial planning and wealth management for people like you, tune in again for our next episode of the Free Like Me podcast.

Intro 0.00 - 1.56

  • Why share schemes are important

  • Asking for advice about your scheme

  • Key problems with share schemes

  • Jargon-busting - what it all means

  • The impact of share schemes on financial freedom

  • Using share schemes to make career decisions

  • Solutions and options with share schemes

  • What can happen when trying to sell shares on their own

  • How to find the right advice

  • The risks of not utilising your shares effectively

  • When to start filing tax returns and losses

  • Top tips from the advisers

Outro 37.11


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FLM is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group's wealth management products and services, more details of which are set out on the Group's website www.sjp.co.uk/products. The title 'Partner Practice' is the marketing term used to describe St. James's Place representatives. FLM Wealth Management is a trading name of Financial Lifestyle Management Ltd.