Save As You Earn is back.
Opens - 9am 22 November
Closes - 5pm 5 December
The discounted option price is: £2.79
Save As You Earn is our share saving scheme. Watch this short video to see how it works.
How it works
Your savings are taken directly from your pay after tax, every four weeks and put into a SAYE account in your name. Your savings will start being taken from your pay at the end of January 2025.
You can save between £5 and £500, every four weeks, for a three or five year savings period. If you're saving for three years, you'll need to make 36 four-weekly payments. If you're saving for five years, you'll need to make 60 four-weekly payments.
* If you already participate in SAYE and want help to decide how much you can afford to save, details of your current SAYE Schemes are available online through the Shares Portal - shareview.co.uk/tesco. Although the maximum amount that can be saved every four weeks across all Schemes is £500, if you’re saving into the 2019 Five year Scheme or the 2021 Three year Scheme and haven’t missed any payments, the amounts you’re saving into these Schemes won’t count towards the £500 limit.
At the end of your savings period, you can buy shares at a discounted option price which is set on the invitation date. The great news is that the discount for this year is 20%. For example if the Tesco share price at the time of the invitation was £3.50, the discounted option price would be set at £2.80.
At the end of your savings period, you’ll receive a tax-free bonus.
Find out more in the FAQ's, or use the Shares Calculator to see what your bonus might be.
If you change your mind or your circumstances change at any point during your savings period, you can stop saving and get your money back.
If you leave Tesco at any time during your savings period because you’re made redundant, or retire, you may be able to buy a reduced number of Tesco shares within six months of leaving. If you leave Tesco for any other reason before the end of your savings period then you’ll get all your money back, or you can choose to carry on saving privately into your Save As You Earn account. However you won’t be able to buy shares at the discounted option price if you leave within three years of the option grant date.
You can miss up to 12 payments, but each one missed will mean your savings period is extended by a month, so your Scheme will mature later. If you go on maternity, adoption or additional paternity leave you can make arrangements to continue contributing by calling the Tesco Shares Helpline on +44 (0)371 384 2976.
Three steps to join SAYE
1 Decide how much to save
You can choose to save between £5 and £500 every four weeks. The amount you choose will be taken directly from your pay.
2 Decide how long to save for
Once you’ve chosen how much you’re going to save (between £5 and £500), you need to choose whether to save for three or five years. You can use the calculator to see how much you'll have saved at the end.
3 Apply
There are three ways to apply for this years SAYE Scheme. Decide which one is best for you by reading the How to apply section.
You will require your employee number to apply. This needs to be entered as 8 digits, if your employee number is less than 8 digits, please add leading zeros for example 00123456.
Ways to apply
App
Online
TextThe EQ Share Plans App allows you to view, monitor and transact on the go. Giving you greater access and flexibility to manage financial goals. To download the app, scan the QR codes or search for 'EQ Share Plans' in the 'App Store' or 'Play Store'.
App store
Play store
If you’ve previously registered for the online ESP Portal, you can use the same login details to access the app.
When accessing the app please select Tesco PLC under the company dropdown.
Apply online at shareview.co.uk/tesco and follow the on screen instructions.
If you haven’t registered for the Equiniti Employee Shares Portal, you’ll need your activation code, which is printed on your Invitation Postcard. For more information on how to register, watch a short video about registering for the ESP Portal.
When you’ve submitted your application you’ll need to review your confirmation page and print or save it until you get your Option Certificate by email. For more assistance on applying please watch our short video on how to apply.
84247 (or +44 7984 369534 if sending from outside the UK)*.
The text message needs to be written as follows with a space between each piece of information:
- Which Scheme – SAYE3 for the three year or SAYE5 for the five year
- Your eight digit employee number
- Date of Birth (DDMMYYYY)
- Your four-weekly savings amount (in whole pounds only)
- You also need to confirm you've read the FSCS information sheet** and accepted the terms and conditions by adding a ‘Y’ and ‘Y’ at the end of the text message (with a space in between each).
You’ll get a text message back confirming the amount you’ve chosen to save. Keep this message until you get your Option Certificate in the post.
For example: If your Employee Number is 12345678 and you were born on 1 December 1975 and
you
wanted to save £60 in a three year Scheme, the text would look like this:
SAYE3 12345678 01121975 60 Y Y
* Texts will be charged at your standard network rate.
** A copy of the Financial Services Compensation Scheme (“FSCS”) fact sheet is available in the Useful documents section.
If you apply by Text your Option Certificate will be sent to you by post unless you have already registered with the Employee Shares Portal in which case you will receive your Option Certificate by email.
Key dates
22 Nov 2024
Invitation date and discounted option price set
5 Dec 2024
5pm closing date for applications
Jan 2025
First savings amount taken from your pay after tax at the end of January 2025
Mar 2025
Savings contract start date
Mar 2028
Three year savings period ends - shares available to buy at the discounted option price
Mar 2030
Five year savings period ends - shares available to buy at the discounted option price
Useful documents
2024 Sharesave Scheme
Do you have more questions regarding our Sharesave scheme?
Please select your Scheme:
You’ve finished saving into your 2021 Three Year Save As You Earn Scheme – congratulations!
You joined this Scheme in November 2021 with the discounted Option Price of £2.42.
The Scheme matures on 1 March 2025
What do I need to do now?
- You have between now and 31 August 2025 to decide what to do with your savings.
- You have four choices listed in this online guide. Make sure you fully consider all your choices as once you've submitted your choice it can't be changed.
- If you haven't made a choice by 31 August 2025, your savings will be returned to you and you’ll miss out on being able to buy shares at the discounted Option Price of £2.42.
Key dates
21 Feb 2025
Tell us by 6pm (UK Time) what you'd like to do with your savings
1 Mar 2025
Scheme end date – the earliest date you can buy shares
31 Aug 2025
The final date to tell us what you’d like to do with your savings
Any request received before 6pm on a Friday after 28 February 2025 will be processed the following Thursday*. Please note that the sell and transfer to ISA choices are only available for the first six months from the normal maturity date.
* For the weeks with a UK public holiday on the Monday, the Thursday process date will be pushed out to the Friday. These are Friday 25 April, 9 May, 30 May and 29 August.
Please note:
The Scheme End Date is 1 March 2025 if you’ve not missed any payments. Or, if you’ve missed one or more payments, you have until six months after your Scheme End Date to buy shares to keep.
Your four choices
Buy shares at the Option Price of £2.42 per share and hold them electronically in the Tesco Share Account, which is provided by Equiniti Financial Services Limited. You can then choose to sell these later. If the share price is higher than the Option Price when you sell them, you’ll make a profit.
By keeping your shares in the Tesco Share Account (TSA):
- You benefit from buying shares at the Option Price of £2.42
- You become a Tesco Shareholder, or increase the number of Tesco shares you have
- Any dividends you receive will be reinvested in the Tesco Dividend Reinvestment Plan (DRIP), unless you decide to amend the DRIP election and provide separate instructions to receive cash dividends direct to your bank account*
- You can view and sell your shares online, and have the proceeds sent direct to your bank account
The Tesco Share Account allows you to hold and manage your shares electronically with no risk of losing share certificates. It also offers access to preferential Equiniti Financial Services Limited share dealing rates.
*The default dividend choice for the TSA is to reinvest cash dividends into the DRIP and any additional shares purchased will be held in accordance with the TSA Terms and Conditions.
If you prefer not to have your dividends reinvested on your TSA shares, you can log into your Shares Portal account, select Tesco Share Account and submit an instruction to amend your preference. Please note that when amending your instruction you must provide valid bank account details by the dividend record date, otherwise your cash dividends will not be issued to you and you may be charged a fee for their release.
Buy shares at the Option Price of £2.42 per share and sell some or all of them through the Equiniti Financial Services Limited Share Sale Service. If the share price is higher than the Option Price when you sell them, you may make a profit.
By selling your shares:
- You might make a profit, if the Tesco share price is higher than the Option Price when you sell your shares
- You’ll receive the cash from the sale, minus any charges into the same bank account that you receive your pay
- If you decide to sell some of your shares and keep the rest, the remaining shares will be held in the Tesco Share Account which will be opened for you if you don’t already have one
Your shares will normally be sold on the dates shown in the following table. You won’t have any control over the sale price, which will be dependent on the Tesco Share Price on the day they’re sold.
| Instruction by (6pm UK Time) | Sale Date |
|---|---|
| 21 February 2025 | 3 March 2025 |
| 28 February 2025 | 6 March 2025 |
| 7 March 2025 | 13 March 2025 |
| Instructions will continue to have a weekly deadline, 6pm every Friday | Sales will continue to be processed weekly, every Thursday* |
*Unless the Thursday is a public holiday in England and Wales in which case shares will be sold the next UK working day
You won’t have any control over the share price: the sale price will be the price achievable when the trade is placed in the market.
Remember, share prices can go down as well as up
You may make money if the Tesco share price is higher than the discounted Option Price of £2.42 when the shares are sold, subject to dealing charges.
Charges will apply when you sell your shares and are applied automatically when your shares are sold. Equiniti Financial Services Limited (‘EFSL’) will charge 0.5% commission, minimum £15.
The money from your sale, minus the EFSL dealing fee, will be paid directly to the bank account where you receive your pay. Once the trade has completed it may take up to 5 working days for the money to reach your bank account.
The sell choice is only available for the first six months from the normal maturity date and your scheme must be exercised by 11 September 2025. The last date you can submit an instruction to sell is 31 August 2025.
If you submit your sale instruction before 31 August 2025, and your Scheme End Date is 1 October 2025 or later, your sale instruction will not be actioned and will be amended to Buy Shares to Keep, with shares added to the Tesco Share Account.
IMPORTANT: Before selecting the sell choice, please make sure you have read and understood the Paying tax section as you may be liable to paying Capital Gains Tax (CGT) if you exceed the CGT annual allowance.
Buy shares at the Option Price of £2.42 per share and transfer them into an EQi Flexible Stocks & Shares ISA (‘EQi ISA’), subject to the ISA allowance limit. If you later decide to sell them and the share price is above the Option Price, you’ll make a profit.
By transferring your shares to an EQi ISA:
- You benefit from buying shares at the Option Price of £2.42
- You won’t pay any income tax on any dividends you receive
- There is no charge for transferring shares into an EQi ISA
- If you move your shares into the ISA within 90 days of them being made available to you, you won’t pay any Capital Gains tax when they’re sold from the ISA
Your shares will be valued and then transferred to the EQi Flexible Stocks & Shares ISA, normally on the following dates.
| Instruction by (6pm UK Time) | Sale Date |
|---|---|
| 21 February 2025 | 3 March 2025 |
| 28 February 2025 | 6 March 2025 |
| 7 March 2025 | 13 March 2025 |
| Instructions will continue to have a weekly deadline, 6pm every Friday | Sales will continue to be processed weekly, every Thursday* |
*Unless the Thursday is a public holiday in England and Wales in which case shares will be transferred the next UK working day.
The ISA choice can only be selected online on the Shares Portal, you’re not able to select ISA on the App. It’s only available for the first six months from normal maturity date (1 March 2025) and your scheme must be exercised by 11 September 2025. The last date you can submit an instruction to transfer shares to an EQi ISA is 31 August 2025.
If you submit your ISA instruction before 31 August 2025, and your Scheme End Date is 1 October 2025 or later, your ISA instruction will not be actioned and will be amended to Buy Shares to Keep, with shares added to the Tesco Share Account.
The ISA allowance for the current tax year 2024/25 is £20,000 (minus any contributions made into a cash ISA and/or other qualifying types of ISA).
Any shares that go over the ISA limit will be transferred to the EQi Dealing account. ISA Custody fee will apply.
Do you have an existing Stocks and Shares ISA?
If you decide to transfer shares into an EQi ISA and you have an existing Stocks and Shares ISA with another provider, you can ask to consolidate your shares in one place, under one ISA provider.
For more information on the EQi Flexible Stocks & Shares ISA, including charges, please see the dedicated EQi ISA page.
By taking your savings back:
- You won't benefit from buying shares at the discounted option price of £2.42
- Your savings will be returned to you by BACS to the same bank account you receive your pay
- If you change your mind and the Tesco Share Price is above the discounted Option Price of £2.42, you can still choose to buy shares at £2.42 before the 'Last date to buy shares at the discounted Option Price' shown on your statement
- To request a repayment of your savings you'll have to call the Shares helpline as you can't do this through any other channel
Please note: The maturity instruction placed is irrevocable which cannot be cancelled nor amended under any circumstance.
If you need help with making the decision that is right for you, please check the decision tree for more information.
A helpful example
These examples assume you sell all of your shares at once and haven't made any other profit in the tax year that could be taxable. For a better understanding please use the calculator to see if, by selling your shares, you'll have to pay Capital Gains Tax ('CGT').
| Example One | Example Two | |
|---|---|---|
| Amount you saved every four weeks | £25.00 | £500.00 |
| Total savings after three years
(36 payments) |
£900.00 | £18,000.00 |
| The number of shares you can buy at the Option Price or £2.42 | 371 shares | 7,438 shares |
| Sale amount if you sold all shares you bought at the discounted Option Price of £2.42 at £3.50 a share | £1,298.50 | £26,033.00 |
| Selling charges | £15.00 | £130.17 |
| Profit (sale amount minus cost of the Option Price shares sold and selling charges) | £385.68 | £7,902.87 |
| Capital Gains Tax charge if you sold all shares in 2024/25 tax year? | No - profit is less than £3,000 | Yes - profit is more than £3,000. Any profit over this will be taxable. |
How to make your choice
You can make your choice online on the Shares Portal
Log in and click on the 'I want to section' and follow the instructions.
- If you haven’t already registered, you’ll need your Activation Code which you can find on the letter or email you received about your SAYE scheme maturing.
- Tesco colleagues can also access the Shares Portal through your Total Reward Statement too.
Download the EQ Share Plans App*
Scan the QR code below to download the EQ Share Plans App or search for 'EQ Share Plans' in the 'App Store' or 'Play Store'.
App store
Play store
Things to remember
- If you choose to buy shares at the discounted Option Price and sell some or all of them at the same time, Equiniti Financial Services Limited (EFSL) will charge 0.5% (min. £15) to sell them for you
- The charge is taken from the total sale amount at the end. For example, if the sale is £3,600, then EFSL will charge £18.00
- If the Share Price falls after you’ve made your choice, you may end up with less money after charges are applied, than if you’d asked for your money back
- If you choose to keep your shares in a Tesco Share Account and sell them online at a later point, EFSL currently charge 1% (minimum £20) to sell those shares. For any sale of shares that exceeds £50,000, the charge is 1% on first £50,000, plus 0.25% on the remainder (minimum £20). An up to date list of selling charges can be found on the Shareview website
- You don’t pay Income Tax or National Insurance Contributions (NICs) on your savings or on your shares when you buy them
- If you sell your shares, you may have to pay Capital Gains Tax (CGT) if the total profit you make in a tax year is more than the CGT ‘annual exemption’ amount. This is £3,000 for 2024/25 tax year. Total profit can include gains from selling other shares or assets.
- If you think you’ll go over the CGT exemption amount, you may wish to sell a smaller number of shares in that tax year or sell through an ISA. Please see details on CGT on the FAQs
- You can use the SAYE Maturity Calculator to help you with understanding when you sell your shares, if you will be above the CGT annual exemption amount
- If you are subject to CGT there are two ways to report this
- You can complete submit a self-assessment form - read more at gov.uk/capital-gains-tax
- You can use the ‘real-time’ CGT service
- If you buy shares to keep, you may need to pay tax on your dividend payments. Tax is payable on dividends if the total amount of dividends you receive from your shares in a tax year, together with the dividends paid on any other shares you hold including cash dividends paid on Share Incentive Plan Shares, is more than the dividend allowance. The dividend allowance is £500 for the 2024/25 tax year. Read more at gov.uk/tax-on-dividends
- In the time between making your choice and when it’s processed, the value of Tesco shares may go up or down
- This can be affected by political and world events and sometimes can be significant
- This means that the amount you receive can be less than you expected
- If the Share Price falls below the discounted Option Price at the time your choice is processed, it won’t be processed and your choice will be carried forward to the following week. If the Share Price stays below the discounted Option Price, Equiniti will contact you
- You can’t set a specific Tesco Share Price to sell at
- The Share Price will be the price achieved when the sale is placed in the market
- Your shares will only be sold if the Share Price is more than the Option Price
- Dealing restrictions may apply if you’re a colleague subject to the Tesco Share Dealing Code. You’ll have been informed if you’re restricted from dealing, however, if you need any further information, please visit the Tesco Insider Portal
Useful documents
2021 Three Year Sharesave Scheme
You’ve finished saving into your 2019 Five Year Save As You Earn Scheme – congratulations!
You joined this Scheme in November 2019 with the discounted Option Price of £2.19.
The Scheme matures on 1 March 2025
What do I need to do now?
- You have between now and 31 August 2025 to decide what to do with your savings.
- You have four choices listed in this online guide. Make sure you fully consider all your choices as once you've submitted your choice it can't be changed.
- If you haven't made a choice by 31 August 2025, your savings will be returned to you and you’ll miss out on being able to buy shares at the discounted Option Price of £2.19.
Key dates
21 Feb 2025
Tell us by 6pm (UK Time) what you'd like to do with your savings
1 Mar 2025
Scheme end date – the earliest date you can buy shares
31 Aug 2025
The final date to tell us what you’d like to do with your savings
Any request received before 6pm on a Friday after 28 Feb 2025 will be processed the following Thursday*. Please note that the sell and transfer to ISA choices are only available for the first six months from the normal maturity date.
* For the weeks with a UK public holiday on the Monday, the Thursday process date will be pushed out to the Friday. These are Friday 25 April, 9 May, 30 May and 29 August.
Please note:
The Scheme End Date is 1 March 2024 if you’ve not missed any payments. Or, if you’ve missed one or more payments, you have until six months after your Scheme End Date to buy shares to keep.
Your four choices
Buy shares at the Option Price of £2.19 per share and hold them electronically in the Tesco Share Account, which is provided by Equiniti Financial Services Limited. You can then choose to sell these later. If the share price is higher than the Option Price when you sell them, you’ll make a profit.
By keeping your shares in the Tesco Share Account (TSA):
- You benefit from buying shares at the Option Price of £2.19
- You become a Tesco Shareholder, or increase the number of Tesco shares you have
- Any dividends you receive will be reinvested in the Tesco Dividend Reinvestment Plan (DRIP), unless you decide to amend the DRIP election and provide separate instructions to receive cash dividends direct to your bank account*
- You can view and sell your shares online, and have the proceeds sent direct to your bank account
The Tesco Share Account allows you to hold and manage your shares electronically with no risk of losing share certificates. It also offers access to preferential Equiniti Financial Services Limited share dealing rates.
*The default dividend choice for the TSA is to reinvest cash dividends into the DRIP and any additional shares purchased will be held in accordance with the TSA Terms and Conditions.
If you prefer not to have your dividends reinvested on your TSA shares, you can log into your Shares Portal account, select Tesco Share Account and submit an instruction to amend your preference. Please note that when amending your instruction you must provide valid bank account details by the dividend record date, otherwise your cash dividends will not be issued to you and you may be charged a fee for their release.
Buy shares at the Option Price of £2.19 per share and sell some or all of them through the Equiniti Financial Services Limited Share Sale Service. If the share price is higher than the Option Price when you sell them, you may make a profit.
By selling your shares:
- You might make a profit, if the Tesco share price is higher than the Option Price when you sell your shares
- You’ll receive the cash from the sale, minus any charges into the same bank account that you receive your pay
- If you decide to sell some of your shares and keep the rest, the remaining shares will be held in the Tesco Share Account which will be opened for you if you don’t already have one
Your shares will normally be sold on the dates shown in the following table. You won’t have any control over the sale price, which will be dependent on the Tesco Share Price on the day they’re sold.
| Instruction by (6pm UK Time) | Sale Date |
|---|---|
| 21 February 2025 | 3 March 2025 |
| 28 February 2025 | 6 March 2025 |
| 7 March 2025 | 13 March 2025 |
| Instructions will continue to have a weekly deadline, 6pm every Friday | Sales will continue to be processed weekly, every Thursday* |
*Unless the Thursday is a public holiday in England and Wales in which case shares will be sold the next UK working day
You won’t have any control over the share price: the sale price will be the price achievable when the trade is placed in the market.
Remember, share prices can go down as well as up
You may make money if the Tesco share price is higher than the discounted Option Price of £2.19 when the shares are sold, subject to dealing charges.
Charges will apply when you sell your shares and are applied automatically when your shares are sold. Equiniti Financial Services Limited (‘EFSL’) will charge 0.5% commission, minimum £15.
The money from your sale, minus the EFSL dealing fee, will be paid directly to the bank account where you receive your pay. Once the trade has completed it may take up to 5 working days for the money to reach your bank account.
The sell choice is only available for the first six months from the normal maturity date and your scheme must be exercised by 11 September 2025. The last date you can submit an instruction to sell is 31 August 2025.
If you submit your sale instruction before 31 August 2025, and your Scheme End Date is 1 October 2025 or later, your sale instruction will not be actioned and will be amended to Buy Shares to Keep, with shares added to the Tesco Share Account.
IMPORTANT: Before selecting the sell choice, please make sure you have read and understood the Paying tax section as you may be liable to paying Capital Gains Tax (CGT) if you exceed the CGT annual allowance.
Buy shares at the Option Price of £2.19 per share and transfer them into an EQi Flexible Stocks & Shares ISA (‘EQi ISA’), subject to the ISA allowance limit. If you later decide to sell them and the share price is above the Option Price, you’ll make a profit.
The benefits of holding shares in the EQi ISA include:
- You benefit from buying shares at the Option Price of £2.19
- You won’t pay any income tax on any dividends you receive
- There is no charge for transferring shares into an EQi ISA
- If you move your shares into the ISA within 90 days of them being made available to you, you won’t pay any Capital Gains tax when they’re sold from the ISA.
Your shares will be valued and then transferred to the EQi Flexible Stocks & Shares ISA, normally on the following dates.
| Instruction by (6pm UK Time) | Sale Date |
|---|---|
| 21 February 2025 | 3 March 2025 |
| 28 February 2025 | 6 March 2025 |
| 7 March 2025 | 13 March 2025 |
| Instructions will continue to have a weekly deadline, 6pm every Friday | Sales will continue to be processed weekly, every Thursday* |
*Unless the Thursday is a public holiday in England and Wales in which case shares will be transferred the next UK working day.
The ISA choice can only be selected online on the Shares Portal, you’re not able to select ISA on the App. It’s only available for the first six months from normal maturity date (1 March 2025) and your scheme must be exercised by 11 September 2025. The last date you can submit an instruction to transfer shares to an EQi ISA is 31 August 2025.
If you submit your ISA instruction before 31 August 2025, and your Scheme End Date is 1 October 2025 or later, your ISA instruction will not be actioned and will be amended to Buy Shares to Keep, with shares added to the Tesco Share Account.
The ISA allowance for the current tax year 2024/25 is £20,000 (minus any contributions made into a cash ISA and/or other qualifying types of ISA).
Any shares that go over the ISA limit will be transferred to the EQi Dealing account. ISA Custody fee will apply.
Do you have an existing Stocks and Shares ISA?
If you decide to transfer shares into an EQi ISA and you have an existing Stocks and Shares ISA with another provider, you can ask to consolidate your shares in one place, under one ISA provider.
For more information on the EQi Flexible Stocks & Shares ISA, including charges, please see the dedicated EQi ISA page.
By taking your savings back:
- You wont benefit from buying shares at the discounted option price of £2.19
- Your savings will be returned to you by BACS to the same bank account you receive your pay
- If you change your mind and the Tesco Share Price is above the discounted Option Price of £2.19, you can still choose to buy shares at £2.19 before the 'Last date to buy shares at the discounted Option Price' shown on your statement
- To request a repayment of your savings you'll have to call the Shares helpline as you can't do this through any other channel
Please note: The maturity instruction placed is irrevocable which cannot be cancelled nor amended under any circumstance.
If you need help with making the decision that is right for you, please check the decision tree for more information.
A helpful example
These examples assume you sell all of your shares at once and haven't made any other profit in the tax year that could be taxable. For a better understanding please use the calculator to see if, by selling your shares, you'll have to pay Capital Gains Tax ('CGT').
| Example One | Example Two | |
|---|---|---|
| Amount you saved every four weeks | £25.00 | £500.00 |
| Total savings after five years
(60 payments) |
£1,500.00 | £30,000.00 |
| The number of shares you can buy at the Option Price or £2.19 | 684 shares | 13,698shares |
| Sale amount if you sold all shares you bought at the discounted Option Price of £2.19 at £3.50 a share | £2,394.00 | £47,943.00 |
| Selling charges | £15.00 | £239.72 |
| Profit (sale amount minus cost of the Option Price shares sold and selling charges) | £881.04 | £17,704.66 |
| Capital Gains Tax charge if you sold all shares in 2024/25 tax year? | No - profit is less than £3,000 | Yes - profit is more than £3,000. Any profit over this will be taxable. |
How to make your choice
You can make your choice online on the Shares Portal
Log in and click on the 'I want to section' and follow the instructions.
- If you haven’t already registered, you’ll need your Activation Code which you can find on the letter or email you received about your SAYE scheme maturing.
- Tesco colleagues can also access the Shares Portal through your Total Reward Statement too.
Download the EQ Share Plans App*
Scan the QR code below to download the EQ Share Plans App or search for 'EQ Share Plans' in the 'App Store' or 'Play Store'.
App store
Play store
Things to remember
- If you choose to buy shares at the discounted Option Price and sell some or all of them at the same time, Equiniti Financial Services Limited (EFSL) will charge 0.5% (min. £15) to sell them for you
- The charge is taken from the total sale amount at the end. For example, if the sale is £3,600, then EFSL will charge £18.00
- If the Share Price falls after you’ve made your choice, you may end up with less money after charges are applied, than if you’d asked for your money back
- If you choose to keep your shares in a Tesco Share Account and sell them online at a later point, EFSL currently charge 1% (minimum £20) to sell those shares. For any sale of shares that exceeds £50,000, the charge is 1% on first £50,000, plus 0.25% on the remainder (minimum £20). An up to date list of selling charges can be found on the Shareview website
- You don’t pay Income Tax or National Insurance Contributions (NICs) on your savings or on your shares when you buy them
- If you sell your shares, you may have to pay Capital Gains Tax (CGT) if the total profit you make in a tax year is more than the CGT ‘annual exemption’ amount. This is £3,000 for 2024/25 tax year. Total profit can include gains from selling other shares or assets.
- If you think you’ll go over the CGT exemption amount, you may wish to sell a smaller number of shares in that tax year or sell through an ISA. Please see details on CGT on the FAQs
- You can use the SAYE Maturity Calculator to help you with understanding when you sell your shares, if you will be above the CGT annual exemption amount
- If you are subject to CGT there are two ways to report this
- You can complete submit a self-assessment form - read more at gov.uk/capital-gains-tax
- You can use the ‘real-time’ CGT service
- If you buy shares to keep, you may need to pay tax on your dividend payments. Tax is payable on dividends if the total amount of dividends you receive from your shares in a tax year, together with the dividends paid on any other shares you hold including cash dividends paid on Share Incentive Plan Shares, is more than the dividend allowance. The dividend allowance is £500 for the 2024/25 tax year. Read more at gov.uk/tax-on-dividends
- In the time between making your choice and when it’s processed, the value of Tesco shares may go up or down
- This can be affected by political and world events and sometimes can be significant
- This means that the amount you receive can be less than you expected
- If the Share Price falls below the discounted Option Price at the time your choice is processed, it won’t be processed and your choice will be carried forward to the following week. If the Share Price stays below the discounted Option Price, Equiniti will contact you
- You can’t set a specific Tesco Share Price to sell at
- The Share Price will be the price achieved when the sale is placed in the market
- Your shares will only be sold if the Share Price is more than the Option Price
- Dealing restrictions may apply if you’re a colleague subject to the Tesco Share Dealing Code. You’ll have been informed if you’re restricted from dealing, however, if you need any further information, please visit the Tesco Insider Portal
Useful documents
2019 Five Year Sharesave Scheme