time away from the
Kingfisher group
Whether you are leaving the business or taking some time out for yourself, this guidance is here to help you understand what will happen to your Kingfisher share plans.
Which option describes your situation?
You've chosen …
Click on the name of any of the share plans you hold to see how you'd be affected and what you need to do…
The process
Once payroll has processed your leaving details, they will pass your information to Computershare to arrange for your EquatePlus account to be updated. A form of direction will be made available on your 'Tasks' and Computershare will send an email to the personal email address held in your account to alert you of any outstanding actions.
You can do any of the following:
- Request for your savings to be returned immediately.
- Continue to save until the maturity of the plan and get all your savings back (and receive any bonus, if applicable). View Current ShareSave information table.
- If you've been in the plan for over 3 years, you can exercise a reduced number of Options (this number equates to the number of contributions made at the leaving date). You can't choose to do this if you've been dismissed due to misconduct.
The timeframe
The form of direction will remain on your account until you make your election. After 6 months you'll only be able to withdraw your savings via the form of direction.
If you're enrolled in ShareSave (2020 or earlier) and you request to withdraw your savings, this will be processed on the Monday following your election and the funds will take up to 5 working days to reach your account. This is because your savings are managed by the Yorkshire Building Society.
If you're enrolled in ShareSave (2021 or later) and you request to withdraw your savings, your request will be processed immediately, and your savings will be refunded within 2-5 working days. This is because the savings are managed directly with Computershare.
Your savings will be returned directly to you and not via payroll. Please make sure your bank account details on EquatePlus are up to date.
Everything else you need to know
If you withdraw your savings before the end of the savings period, you won't receive any tax-free bonus, if applicable. View Current ShareSave information table.
If you withdraw your savings on or after the first anniversary of the starting date of the plan and at least 12 monthly contributions have been paid, you may receive interest on your savings, if applicable.
If, after leaving, you decide to continue saving until the maturity of the plan, you'll need to set up a standing order with Computershare. Call their helpline on 0808 234 3577 to arrange this.
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Once payroll has processed your leaving details, they will pass your information to Computershare to arrange for your EquatePlus account to be updated. Computershare will send an email to the personal email address held in your account to alert you of any outstanding actions.
You can do either of the following:
- Sell all your shares. Any Tax or NI will be deducted from your sales proceeds and sent payroll, and the balance will be paid to your bank account.
- Sell to cover. Enough shares will be sold to cover your Tax and NI liability, and the proceeds will be sent to payroll. The remaining shares will be moved into the ShareStore Nominee for you to keep.
The timeframe
If you don't instruct Computershare within 30 days of receiving the email, they'll automatically sell enough shares to cover your Tax and NI liability and the proceeds will be sent to payroll for processing. The remaining shares will be moved into the ShareStore Nominee for you to keep.
Everything else you need to know
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Once payroll has processed your leaving details, they will pass your information to Computershare to arrange for your EquatePlus account to be updated. Computershare will send an email to the personal email address held in your account to alert you of any outstanding actions.
You can do either of the following:
- Sell all your shares. The proceeds will be paid direct to your bank account.
- Transfer all your shares to another brokerage account.
The timeframe
You must remove the shares from the plan within 6 months of your leaving date. If you don't take any action then all your shares will be automatically sold and the proceeds, less any charges, will be sent to your bank account.
Everything else you need to know
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Once payroll has processed your leaving details, they will pass your information to Computershare to arrange for your EquatePlus account to be updated. A form of direction will be made available on your 'Tasks' and Computershare will send an email to the personal email address held in your account to alert you of any outstanding actions.
You can do any of the following:
Exercise your Options
- Exercise your Options immediately and buy a reduced number of shares (the number of shares will equate to the amount of savings held as at your leaving date).
- Save for up to a further 6 months after leaving and then exercise your Options and buy a reduced number of shares (the number of shares will equate to the amount of savings held once you have completed any saving after leaving. If you reach your maturity date during this time, then you may still be able to purchase the full amount of shares).
After exercising your Options, you can sell them immediately (Exercise and Sell) or keep them in the ShareStore Nominee for as long as you want, free of charge. You'll be able to sell the shares from the Nominee whenever you want.
Take back your savings
- Request for your savings to be returned immediately.
- Continue to save until the maturity of the plan and get all your savings back (and receive any bonus, if applicable). View Current ShareSave information table.
The timeframe
The form of direction will remain on your account until you make your election. After 6 months you'll only be able to withdraw via the form of direction.
If you're enrolled in a ShareSave (2020 or earlier) and you request to withdraw your savings, your request will be processed on the Monday following your election and the funds will take up to 5 working days to reach your account. This is because your savings are managed by the Yorkshire Building Society.
If you're in enrolled in ShareSave (2021 or later) and you request to withdraw your savings, your request will be processed immediately, and your savings will be refunded between 2-5 working days. This is because the savings are managed directly with Computershare.
Your savings will be returned directly to you and not via payroll. Please make sure your bank account details on EquatePlus are up to date.
Everything else you need to know
If you sell your shares the proceeds will be sent directly to your bank account, not via payroll. Although there is no Income Tax or NI to be paid on the sale proceeds, you might have to pay Capital Gains Tax (CGT) on any profit. You can find more details on tax in the ShareSave FAQ's.
If you exercise your Options or withdraw your savings before the end of the savings period, you won't receive any bonus payment in addition to your savings. If you withdraw your savings on or after the first anniversary of the starting date of the plan and at least 12 monthly contributions have been paid, you may receive interest on your savings, if applicable. View Current ShareSave information table.
If, after leaving, you decide to continue saving until the maturity of the plan, you'll need to set up a standing order with Computershare. You'll need to call their helpline on 0808 234 3577 to arrange this.
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Once payroll has processed your leaving details, they will pass your information to Computershare to arrange for your EquatePlus account to be updated. Computershare will send an email to the personal email address held in your account to alert you of any outstanding actions.
You can do either of the following:
- Sell all your shares. Your proceeds will be paid to your bank account.
- Keep all your shares. Your shares will be transferred into your ShareStore Nominee account.
The timeframe
If you don't instruct Computershare within 30 days of receiving the email, they'll automatically arrange for your shares to be moved into the ShareStore Nominee for you to keep.
Everything else you need to know
You won't pay Tax on any shares that are removed from the ShareBuild plan.
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Once payroll has processed your leaving details, they will pass your information to Computershare to arrange for your EquatePlus account to be updated. Computershare will send an email to the personal email address held in your account to alert you of any outstanding actions.
You can do either of the following:
- Sell all your shares. The proceeds will be paid direct to your bank account.
- Transfer all your shares to another brokerage account.
The timeframe
You must remove the shares from the plan within 6 months of your leaving date. If you don't take any action then all your shares will be automatically sold and the proceeds, less any charges, will be sent to your bank account.
Everything else you need to know
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Any deductions from pay will stop when basic pay is no longer payable.
You can take up to 12 monthly payment breaks during your savings period. You can't back-date payments or pay twice as much in future months, however, you'll need to make up the payments at the end of your savings contract each month if you'd like to purchase shares. Your savings contract end date will be extended by the same number of months that have been missed, and therefore delay the date from which you can buy the shares. If more than 12 payments are missed, your Options will lapse.
Alternatively, you can continue to contribute to ShareSave by making payments yourself via standing order. Please contact the Computershare helpline on 0808 234 3577. You'll also need to contact your payroll team to confirm how many payments you wish to make directly, to ensure your record is updated accordingly.
When you return to work, you should cancel your standing order and contact your payroll team to ensure your deductions start again.
If you go on leave after your final contribution but before your maturity date, you'll have 6 months from maturity to exercise your Options.
Make sure your details such as email address, bank account and broker (if appropriate) are up to date in EquatePlus. These can be found in your 'Personal Details' and your 'Financial Details'.
The process
Any deductions from pay will stop when basic pay is no longer payable.
Any shares you've already purchased can remain in ShareBuild, however, no contributions can be made by either you or the company for the duration of your leave. You can't make up any missed payments, but you can restart your contributions when you return to work.
The process
Any existing shares can remain in the 1+1 plan whilst you aren't working, but remain an employee.
If you subsequently leave the business, your shares will need to be removed from the plan. You can find out how you'll be affected by selecting the appropriate reason you are leaving (i.e. Resignation) and then return to this section.
A few things to check before you go…
- Make sure your email address is correct in your EquatePlus account and you've selected your preferred contact address.
- Make sure your bank details (and brokerage account details, if applicable) are also up to date.
- If you've left the business and need to update your postal address, please contact Computershare and they'll confirm the process.
Useful contact details
Computershare Helpline (Sunday 10pm – Friday 10pm CET):
0808 234 3577
Computershare Registrar:
0370 702 0129
Computershare Investor Services plc
The Pavilions, Bridgwater Road, Bristol BS99 6ZZ
Visit your EquatePlus account
and update your personal details
