I'm a bit cross with Sun today
By tdw on May 26, 2005
Because of the UK tax laws, when a UK employee sells stock options, the proceeds go from the brokerage to Sun, who pass them on to their (external) payroll agency to handle. They _should_ take care of deducting any owing income tax and then send the remainder of the proceeds directly to your bank.
In this case, there was no income tax to be deducted at source because these options were granted way before that tax law came into force, so in theory, the money should have hit my account at least 2 weeks ago.
To compound the frustration, it took two emails to the US stock plan services group to get them to tell me to contact the UK payroll department (whom they copied on the email). Because I didn't get a response, I emailed UK payroll again on Monday this week, but still no response. I appreciate that people are busy, but a quick email response to say that they're looking into it would be nice.
Now, I'm going to have to try not to get angry and resist throwing my toys out of the pram.