Your Sharesave maturity

submit my maturity instruction

Find out more about what maturity means for you

WEALTH at work webinar

WEALTH at work webinar

It is important to fully understand your choices when your Sharesave matures. With several financial decisions ahead, NEXT has partnered with financial wellbeing specialists, WEALTH at work, to offer you an online seminar to guide you through your choices.

The seminar will help you understand your choices at maturity, potential tax implications, and how to maximise tax efficiency.

Available seminar dates:

  • 7 November at 11 am
  • 14 November at 2 pm
  • 27 November at 11 am

During the seminar, you'll also have the opportunity to request a follow-up call to discuss your personal situation.

Watch a recording of the Wealth at work seminar

TO SEE YOUR MATURITY CHOICES, SELECT YOUR PLAN LENGTH:

3 YEAR 2021 MATURITY - OPTION PRICE: £64.53

YOU HAVE 3 CHOICES

Use your savings to buy NEXT shares at the option price and receive a share certificate or transfer to an ISA.

If you want to have more control over the price at which you sell your shares or wish to become a shareholder, you should select this option. You will then have the choice to receive a share certificate or open an EQi Flexible Stocks and Shares ISA ('EQi ISA') and sell your shares at any time in the future.

If you wish, you can also give some or all of your shares to your spouse/civil partner 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.

SELLING YOUR CERTIFICATED SHARES IN THE FUTURE

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.

TRANSFERING YOUR SHARES TO AN ISA

A Stocks and Shares ISA allows you to hold 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 shares into an ISA if your ISA provider agrees to hold the shares and you have sufficient headroom in your annual ISA allowance (£20,000 in the 2024/25 tax year). You may then sell your shares at a time and price of your choosing.

You have 90 days from your exercise date in which to transfer your shares into an ISA. If your ISA provider requires written confirmation from EQ you can download a Letter of Appropriation via the portal.

If you do not already have a Stocks and Shares ISA for this tax year, you may wish to consider the EQi ISA provided by Equiniti. When submitting your maturity instruction, you can choose to open an EQi ISA and transfer your shares directly into this ISA.

If you choose to transfer your shares to the EQi ISA you will receive your new account login details via post to your registered address. The shares will normally be in your account 3-5 working days from the share purchase date. See timetable.

If you decide that you want to sell your shares immediately once they have been transferred in to the EQi ISA, you are free to do so. If there are lots of sale requests at the same time, these will be managed in a controlled way. There is no need to sell your shares immediately, your shares will be exempt from Capital Gains Tax as long as they are held in the EQi ISA.

Further information on this service including pricing can be found at www.EQi.co.uk or via the EQi ISA helpline on 0345 300 0430.

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.

  • Shares will be sold on a scheduled date, as set out in the timetable.
  • The commission charge is £16.
  • Proceeds will be paid into the same account into which NEXT pays your salary. Details of that bank account will be supplied to EQ by NEXT.

You cannot set a minimum sale price; shares will be sold at the price available when EFSL places the instruction. If you want to set a minimum sale price, choose to receive a share certificate (Choice 1) and sell through your preferred broker.

If the NEXT share price is higher than the option price of £64.53, you can sell your shares and realise a gain. A gain isn't guaranteed, and shares won't be sold if the share price is below the option price. You can check the current share price on the NEXT plc website: www.nextplc.co.uk.

When you instruct to sell all your shares, you'll receive an email confirmation and a confirmation will be visible on the Portal homepage. Your shares may appear in your ordinary share account during processing; you should not make any further instructions to sell your shares during this time. For questions, please contact the Employee Share Plan Helpline.

Example

Alex has been saving £100 per month for 36 months into the 2021 3 year Sharesave and therefore will have savings of £3,600 on maturity. Alex can use the savings of £3,600 to buy 55 NEXT shares at an option price of £64.53 per share. Alex decides to do that and sell all of the shares. The sale price for the shares is £100.00.

Sale proceeds: 55 shares at £100.00 each = £5,500

Less dealing charge: £16

Total cash payable to Alex after sale: £5,484

Total option price paid for: 55 shares at £64.53 each = £3,549.15

Profit from the sale of shares: £1,934.85*

* This is before tax - see 'Will I have to pay tax?' in the FAQs section for information about Capital Gains Tax ('CGT'). 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.

And/Or buy NEXT shares at the option price of £64.53 and gift your shares to your spouse to sell

  • You can also transfer some or all of your shares to your spouse/civil partner to be sold (see 'Will I have to pay tax?' in the FAQs for information on tax). The commission charge will be £16.
  • Sale proceeds will be settled by cheque and will be posted to you within two days from the sale date.

This choice, gift to your spouse for sale, is not available online

You will need to contact the Employee 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 Employee Helpline on or after 1 December 2024. You can still exercise your option at a later date as long as you do so within six months of your maturity date.

5 YEAR 2019 MATURITY - OPTION PRICE: £48.23

YOU HAVE 3 CHOICES

Use your savings to buy NEXT shares at the option price and receive a share certificate or transfer to an ISA.

If you want to have more control over the price at which you sell your shares or wish to become a shareholder, you should select this option. You will then have the choice to receive a share certificate or open an EQi Flexible Stocks and Shares ISA ('EQi ISA') and sell your shares at any time in the future.

If you wish, you can also give some or all of your shares to your spouse/civil partner 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.

SELLING YOUR CERTIFICATED SHARES IN THE FUTURE

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.

TRANSFERING YOUR SHARES TO AN ISA

A Stocks and Shares ISA allows you to hold 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 shares into an ISA if your ISA provider agrees to hold the shares and you have sufficient headroom in your annual ISA allowance (£20,000 in the 2024/25 tax year). You may then sell your shares at a time and price of your choosing.

You have 90 days from your exercise date in which to transfer your shares into an ISA. If your ISA provider requires written confirmation from EQ you can download a Letter of Appropriation via the portal.

If you do not already have a Stocks and Shares ISA for this tax year, you may wish to consider the EQi ISA provided by Equiniti. When submitting your maturity instruction, you can choose to open an EQi ISA and transfer your shares directly into this ISA.

If you choose to transfer your shares to the EQi ISA you will receive your new account login details via post to your registered address. The shares will normally be in your account 3-5 working days from the share purchase date. See timetable.

If you decide that you want to sell your shares immediately once they have been transferred in to the EQi ISA, you are free to do so. If there are lots of sale requests at the same time, these will be managed in a controlled way. There is no need to sell your shares immediately, your shares will be exempt from Capital Gains Tax as long as they are held in the EQi ISA.

Further information on this service including pricing can be found at www.EQi.co.uk or via the EQi ISA helpline on 0345 300 0430.

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.

  • Shares will be sold on a scheduled date, as set out in the timetable.
  • The commission charge is £16.
  • Proceeds will be paid into the same account into which NEXT pays your salary. Details of that bank account will be supplied to EQ by NEXT.

You cannot set a minimum sale price; shares will be sold at the price available when EFSL places the instruction. If you want to set a minimum sale price, choose to receive a share certificate (Choice 1) and sell through your preferred broker.

If the NEXT share price is higher than the option price of £48.23, you can sell your shares and realise a gain. A gain isn't guaranteed, and shares won't be sold if the share price is below the option price. You can check the current share price on the NEXT plc website: www.nextplc.co.uk.

When you instruct to sell all your shares, you'll receive an email confirmation and a confirmation will be visible on the Portal homepage. Your shares may appear in your ordinary share account during processing; you should not make any further instructions to sell your shares during this time. For questions, please contact the Employee Share Plan Helpline.

Example

Alex has been saving £100 per month for 60 months into the 2019 5 year Sharesave and therefore will have savings of £6,000 on maturity. Alex can use the savings of £6,000 to buy 124 NEXT shares at an option price of £48.23 per share. Alex decides to do that and sell all of the shares. The sale price for the shares is £100.00.

Sale proceeds: 124 shares at £100.00 each = £12,400

Less dealing charge: £16

Total cash payable to Alex after sale: £12,384

Total option price paid for: 124 shares at £48.23 each = £5,980.52

Profit from the sale of shares: £6,403.48*

* 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.

And/Or buy NEXT shares at the option price of £48.23 and gift your shares to your spouse/civil partner to sell

  • You can also transfer some or all of your shares to your spouse/civil partner to be sold (see 'Will I have to pay tax?' in the FAQs for information on tax). The commission charge will be £16.
  • Sale proceeds will be settled by cheque and will be posted to you within two days from the sale date.

This choice, gift to your spouse/civil partner for sale, is not available online

You will need to contact the Employee 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 Employee Helpline on or after 1 December 2024. You can still exercise your option at a later date as long as you do so within six months of your maturity date.

Maturity timetable

TIMETABLE FOR SHARE PURCHASES AND SALES*

Instruction received by EQ Share purchase & expected sale date Approx date your sale proceeds will be received
Wed 20 Nov 2024 Mon 2 Dec 2024 Mon 9 Dec 2024
Wed 27 Nov 2024 Tue 10 Dec 2024 Tue 17 Dec 2024
Wed 4 Dec 2024 Tue 17 Dec 2024 Tue 24 Dec 2024
Wed 11 Dec 2024 Tue 24 Dec 2024 Fri 3 Jan 2025
Wed 18 Dec 2024 Fri 3 Jan 2025 Fri 10 Jan 2025
Wed 25 Dec 2024 Thu 9 Jan 2025 Thu 16 Jan 2025
Wed 1 Jan 2025 Tue 14 Jan 2025 Tue 21 Jan 2025

The cut off for instructions is 6 pm each Wednesday. Instructions received after 1 January 2025 will be processed weekly, normally 13 days after the cut off date. Share purchases and sales are generally carried out on a Tuesday.

If applications are received to exercise and sell a large number of shares, EFSL will batch share sales and will sell them over a period of time. Depending on the batch size, this may take more than one day. In a batch sale, the share prices obtained will be averaged so that everyone in that batch gets the same price. EQ, EFSL and NEXT plc cannot be held responsible for any changes to the advertised dates which are outside of their control.

*Dates may be subject to change, such as to accommodate public holidays.

key dates

20 NOV 2024

Deadline for instructions to be processed on first purchase date

1 DEC 2024

Maturity date

2 DEC 2024

First share purchase and expected sale date

31 MAY 2025

Final date to make your choice

FAQs

Want to know more? Find answers to the most commonly–asked Sharesave questions.

VIEW FAQs

further information

If you have any questions about Sharesave, please contact EQ, NEXT's Sharesave Administrator:

Employee Helpline

0371 384 2170

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 Employee 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.

To understand how your personal data is protected and the application of your enhanced rights under the General Data Protection Regulations (which came into force on 25 May 2018), please review the Privacy Notice

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.