That was the same as my scheme. I just didn't realise when GE sold us the shares came out of SIP and into a vested account which is subject to capital gains. That'll teach me for not reading properly / self teaching.You have to hold them for 5 years for them to be income and NI tax free and if they stay in a plan, they are capital gains tax free.
We are allowed buy up to £1800 of shares per year, but I only buy £600 as the company will share match the first £600 of the year. I just pay £50 per month.. and 6 years later sell them as a lump along with my SAYE share plan. Transfer the cash to my personal investment account and buy shares in a tracker/ETF.
I plan on doing the same. I have said on here before I have a lot of eggs in the GE basket so I am selling up to put into a Vanguard tracker/ETF, more than likely VWRP.