FAQ & Glossary
Sharesave provides the opportunity for you to save for 3 and/or 5 years, and then use your savings to buy Kingfisher shares at a discounted Option price. ShareSave is our name for a common type of share plan, called Save As You Earn (SAYE).
In the Isle of Man, colleagues given share options at a discount will have to pay additional tax. Please make sure you understand the tax consequences of joining ShareSave before you do so. (See 'Will I need to pay any tax?').
ShareSave is designed to work around you. You can save from £5 a month, up to £250 a month into this year's ShareSave, providing your total savings don't exceed £500 per month across all open ShareSave accounts. You can take a break from saving, or leave ShareSave and take all your money back at any time. For more information on this, see 'During ShareSave'.
The number of shares you can buy at the end of ShareSave, if this is what you choose to do, depends on:
- How much you choose to save each month
- Our discounted Option price
Try out the calculator to see how many shares you could buy with your savings at the end of ShareSave. You can also watch your savings grow by logging in to your EquatePlus account.
Before the start of ShareSave each year, we fix the discounted Option price. This is the price of our shares on the market at the time, with a 20% discount.
This is the price you can choose to buy your shares for at the end of ShareSave — no matter what happens to our share price. It means if the value of Kingfisher shares increases by the end of ShareSave, you can still buy your shares at the discounted Option price set at the start of ShareSave. If our share price decreases over the time you save, you can choose whether to still buy shares at the discounted Option price, keep them and decide to sell them later, or take all your savings back.
If you complete the saving period (3 and/or 5 years), you get a bonus, set by HMRC. This is instead of getting interest on your savings. The bonus for ShareSave 2023 is:
- 1.1 times your monthly contribution if you're saving for 3 years
- 3.2 times your monthly contribution if you're saving for 5 years
If you leave ShareSave early, you won't get your bonus. However, if you've been in ShareSave at least one year, you'll get some interest. The interest rate for ShareSave 2023, set by HMRC, is 1.42%.
This is the rate for 2023, but it may change each year.
If you've joined ShareSave in a previous year, you can still join this year's ShareSave. There are a few things you need to consider:
- Your savings across all ShareSave accounts can't go over the maximum of £500 a month.
- If you have an existing ShareSave that is due to finish in December this year, and you've not missed any contributions, then the amount you save as part of that ShareSave doesn't count towards your maximum limit for the year. So any savings your put into the ShareSave finishing in December, you can use for the ShareSave that begins in October.
- If you want to increase your savings limits for this year, you can cancel an existing ShareSave — but you will lose the opportunity to buy the shares for the ShareSave you're cancelling.
- You can't transfer your savings from an existing ShareSave into a new one.
ShareSave is available to all our UK colleagues (including Channel Islands and Isle of Man). You can join if you:
- Work directly for a company in the Kingfisher group, including B&Q and Screwfix, and
- Have been with Kingfisher for at least three months at the date the join period opens, and
- Pay UK income tax (or equivalent in the Channel Islands and Isle of Man).
If you haven't worked with us long enough to join this year, don't worry — ShareSave 2024 will soon come around!
ShareSave is open for a limited time each year, usually in October. We send out communications close to the time, to give everyone the opportunity to join if they want to. This year, you can join from 10am on Monday 2 October until 5pm Friday 20 October.
You can join via EquatePlus, our share plan platform. It's run by Computershare, our share plans administrator.
When ShareSave opens, we will arrange for the EquatePlus user ID to be sent to every eligible colleague.
| Join from your desktop | Join through the mobile app |
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Can't find your login details? Go to the EquatePlus login page to request your password, or call Computershare on 0808 234 3577 — they'll be happy to help you.
When you finish saving for ShareSave, you will get a bonus. This is instead of having interest on your savings. The level of the bonus is decided by HMRC, and so isn't under Kingfisher's control.
If you leave ShareSave early, you may get some interest instead of a bonus. To get this interest, you need to save for at least 12 months. The level of interest is again, decided by HMRC, and so isn't under Kingfisher's control. The interest rate for ShareSave 2023 is 1.42%. Colleagues in the Isle of Man may need to pay tax when they are paid this interest.
Yes — you'll need to pay tax at the start of ShareSave. In the Isle of Man, share options given at a discounted rate to the market value are a taxable payment.
This discount is the amount between the fixed discounted Option price of the shares you can buy at the end of ShareSave, and the market value of the share Options when they are formally given to you on the grant date. As a result of this, any colleague who joins ShareSave will have the taxable amount added to their gross pay in November. The relevant tax will then be deducted from the total amount. Any taxable amounts will be included within the employee's year end payment and tax summary (form T14).
For example, Michael decides to save £100 a month for three years. The market price for Kingfisher shares on the date the Options are granted is £2.34, and his discounted Option price is £1.84.
Michael knows that after 3 years, his savings and bonus will be enough to buy 2,016 Kingfisher shares at the discounted option price, if that's what he decides to do.
£2.34 market price - £1.84 discounted option price =£0.50 savings on each share option Michael may buy at the end of ShareSave. £0.50 saving per share option x 2,016 share options = £1,008.00.
This £1,008.00 is classed as taxable income at the beginning of ShareSave.
This taxable income will be added to Michael's November salary.
This taxable income is not actually paid to Michael.
He will need to pay income tax and National Insurance Contributions (NICs) on his £1,008.00. Michael's income tax rate is 20%, and his NICs are 11%. He therefore needs to pay £312.48 in tax on his £1,008.00. This will be taken from his November salary.
There is no mechanism for you to reclaim this tax. This includes if you don't buy your share Options, or you buy them for less than the market price of Kingfisher shares on the grant date.
If you leave ShareSave early and you have been saving for more than 12 months, you will receive interest. You may need to pay tax on this interest.
The Isle of Man does not have capital gains tax, so there are no further tax implications on the sale of the shares.
Unfortunately not — once you've chosen your monthly amount, you'll need to stick to it until the end of ShareSave. However, you can take a savings break if you need to — see 'Can I take a savings break?'.
Unfortunately not — once you've chosen how long you want to save for, you'll need to stick to it. However, you can leave ShareSave — see 'Can I leave ShareSave early?'.
Yes, you can take a savings break of up to 12 months if you need to. This can be a single break of 12 months, or a series of shorter breaks. You'll need to tell payroll when you want to take a savings break, and how long for, as well as when you want to re-start saving.
If you decide to take a savings break, that time will be added to the end of ShareSave. For each month you take a savings break, you'll save for one month longer. This will delay the date at which you can buy your shares. You can't make up for missed payments by back-dating them or overpaying in future months.
If you take more than 12 months' break, your ShareSave contract will end, and you can take all your savings back. If you started ShareSave in 2023 or later, you'll also receive some interest on your savings if you've been in ShareSave for more than a year.
You may go on long term leave — for example, parental leave, long-term sickness or a career break.
If you're still being paid, and the amount you're paid is more than the amount you're saving each month, you'll automatically continue to save each month. You can, of course, ask for a payment break.
If you're not getting any pay, you can either take a break, or arrange to make the payments yourself while you're away. If you want to continue saving, please contact Computershare on 0808 234 3577 to set up a standing order.
You can still buy your shares at the discounted Option price if you:
- Finish your ShareSave payments while you're on leave, or
- Return to work for Kingfisher after your leave, or
- Decide to leave Kingfisher, and it's been more than 3 years since you started ShareSave.
If you don't return to Kingfisher after your leave, you can cancel your ShareSave and get all your savings back.
Yes, you can leave ShareSave at any time and take all your savings back. If you've been saving for more than a year, you'll get some interest on your savings, too. You can request to leave ShareSave through the EquatePlus portal.
Please note if you choose to leave early, you won't be able to buy Kingfisher shares at the discounted share price.
Yes. Your savings are held independently by the Bank of Scotland, and are protected by the Financial Services Compensation Scheme. For more information, see the 'Legal Info' page.
No, joining ShareSave will not impact statutory sick pay, statutory maternity pay, or any other employee benefits you receive.
If you lose your user ID or forget your password, you can ask for your login details to be sent to your email address. Go to the EquatePlus login page, and follow the on-screen prompts.
For any other issues accessing your EquatePlus Portal, contact Computershare on 0808 234 3577.
If you change your name and/or address, please let your HR team know your new details. They will update your EquatePlus portal once payroll have updated their records.
When you finish saving into ShareSave, your bonus will be added to your savings. You then have six months to make a choice. You can:
- Take all your savings back, including the bonus, as cash, or
- Use your savings to buy Kingfisher shares at the discounted Option price set at the beginning of ShareSave.
If you choose to buy Kingfisher shares at the discounted Option price, they're yours to do with as you wish. You may:
- Keep them and become a Kingfisher shareholder — receive dividends and vote at general meetings
- Sell them immediately and take the money
- Transfer your shares to your spouse or civil partner.
You'll need to make your choice within six months of finishing saving into ShareSave. You can do this on the EquatePlus portal.
What you choose to do may depend on a number of factors, including your personal circumstances and our share price at the time. These are the potential outcomes, and how they could impact you:
- Our share price increases while you're saving. If you buy your shares at the discounted Option price, you get a discount on your shares of 20% plus any increase in the share price. For example, Mohammed joins ShareSave when the Kingfisher share price is £2. With the 20% reduction, Mohammed knows he can use his savings to buy Kingfisher shares at the discounted Option price of £1.60. When ShareSave finishes the Kingfisher share price has gone up to £2.40. Mohammed can still buy his shares at £1.60, which is a discount of over 33%.
- Our share price decreases while you're saving by less than 20%. You still get a discount on your shares, but it'll be less than 20%. For example, Jane joins ShareSave when the Kingfisher share price is £1.50. With the 20% reduction, Jane knows she can use her savings to buy Kingfisher shares at the discounted Option price of £1.20. When ShareSave finishes, the Kingfisher share price has gone down to £1.30. Jane can still buy her shares at £1.20 — this is a discount of almost 8%.
- Our share price decreases while you're saving by more than 20%. You will pay more for the shares than they are worth. For example, Dean joins ShareSave when the Kingfisher share price is £2.50. With the 20% reduction, Dean knows he can use his savings to buy Kingfisher shares at the discounted Option price of £2.00. When ShareSave finishes, the Kingfisher share price has gone down to £1.50. Dean can still buy his shares at £2.00 — but he would make a loss of 25%. Dean therefore decides to take all of his savings and his bonus back as cash.
Remember, the share prices can go down as well as up, and may continue to fluctuate if you decide to keep your shares.
Whether you need to pay any tax at the end of ShareSave — and how much you need to pay — will depend on your personal circumstances, and what you choose to do.
- Taking back your savings. There's no tax to pay on your savings and bonus at this point.
- Buying shares and selling them. For colleagues on the Isle of Man, tax on share options is paid at the start of ShareSave. Therefore, there is no further tax to pay when you buy your share options (if that's what you choose to do), and when you come to sell them.
- Keeping your shares. You're entitled to dividends from Kingfisher. This is a share of our profits, which we pay to our shareholders typically twice a year, although this is not guaranteed.
If you're not sure whether you need to pay tax, you can speak to a professional financial adviser.
If you leave Kingfisher before the end of the savings period, you'll get your savings back in full — although you won't get your bonus. If you leave 12 months or more after you join ShareSave, you'll still get interest on your savings (see 'What is the bonus?').
You generally won't have the opportunity to buy the shares at the discounted Option price. There are some exceptions to this — you can still use your savings to buy your discounted shares if you leave because of:
- Injury
- Disability
- Redundancy
- Retirement
- Your employer leaves the Kingfisher Group
If you leave for one of these reasons at any time — or for any reason except misconduct — and you've been in ShareSave for more than 3 years — you can continue to save for up to 6 months after you leave Kingfisher. In those 6 months, you can buy your shares at the discounted Option price; or choose to take all of your money back. If you don't make a decision within those 6 months, you will get back all of your savings. If you joined ShareSave in 2023 or later and you've been in ShareSave for more than a year, you'll also get some interest on your savings.
It's not something we want to think about, but if you die while you're saving in ShareSave, your contributions will automatically stop. Your personal representative can choose to:
- Take back your savings in full
- Use your savings to buy the discounted shares with the savings held at that time. They'll need to do this within 12 months of the date of death, or the end of ShareSave — whichever comes first.
For more guidance on this, please contact Computershare on 0808 234 3577.
At Kingfisher, we are committed to support each colleague to ensure that you do not misuse, or place yourself under suspicion of misusing, information about the Group which you have, and which is not public.
If you do have special access to information, you are known as a restricted employee. This means you can't make investment decisions based on what you know. If you're a restricted employee, the Group Company Secretariat will let you know. If you're in any doubt, you can contact them by emailing secretariat@kingfisher.com.
ShareSave is open to all colleagues. If you are a restricted employee, you may need to seek clearance in certain circumstances.
As a restricted employee, you DO NOT need to seek clearance if you want to…
- Join ShareSave
As a restricted employee, you DO need to seek clearance if you want to…
- Leave ShareSave and withdraw your savings
- Buy shares at the discounted Option price at the end of ShareSave
- Sell your ShareSave shares after you've bought them
- Transfer your ShareSave shares after you've bought them (including to your spouse or partner).
You can request Clearance to Deal at kingfisherportal.com. You will need to use your work asset, such as your laptop.
You can access our Group Share Dealing Policy on the Kingfisher Intranet. By submitting a request on EquatePlus, you confirm that you have complied with the Group Share Dealing Policy.
We try to not use industry jargon in our communications, but if you happen to see any of the following terms then here are simple explanations of each.
- Savings amount
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This is the amount you choose to save each month — between £5 and £250.
- Savings period
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This is the amount of time you save for — 3 and/or 5 years.
- Share option
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Share option refers to the fact you have a right to purchase a set number of Kingfisher shares at a fixed discounted price once all monthly savings are complete. A share option is exactly what it says, it's an option, so it's entirely up to you to choose whether you wish to use your savings to buy the Kingfisher shares or take your savings back.
- Option price
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Option price refers to the fixed share price set for each annual ShareSave invitation. This is based on the market value just before the join period starts, which is then discounted by 20%.
- Invitation period
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Invitation period is the period of time each year where eligible employees have the chance to join the ShareSave. This is a window of 14 to 21 days and is usually in October each year. You have to apply to join during this time, or you'll miss out until the following year.
- Grant Date
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Grant date is the formal start date of your ShareSave 3 and/or 5 year savings period, which takes place once the invitation period closes and the Kingfisher Share Plans Team has reviewed all applications and confirmed them.
- Maturity Date
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Maturity date is the date when your savings period comes to an end and all payments have been made.
- Exercise
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Exercise means the period of 6 months you have to make a decision about your ShareSave savings — to choose to either buy Kingfisher shares at the discounted Option price or take back your savings.
