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An option to buy shares that is out of the money is normally worth nothing, so taking the cash would be sensible. If you would be taxed at your marginal rate on the cash but not on the shares that might be a factor. You would get taxed eventually but at a time of your choosing - eg when you take half a year off to go for the round the world record.
A stocks and shares ISA is virtually identical to a SIPP - just a different legal framework. You can hold pretty much the same investments in either (with some exceptions) - funds, shares, etc.
Most SIPP providers will also have an ISA. eg I use Iweb and they are just two different sections in my account. I pay a quaterly fee for the SIPP but there isn't any specific fee for the ISA, just commission, etc. Other brokers fee structures vary, comparision table here:
https://monevator.com/compare-uk-cheapest-online-brokers/
frank9755-
go for the round the world record.
Oh god, not more silly ideas! :D Luckily I view that record as untouchable, physically and financially.
Good point, my SIPP provider (ii) does have an ISA feature. I guess the question is, is it worth the hassle? It's ~£9k worth of shares or cash. I don't "need" either right now so it sounds like the shares might be more hassle to sort out but worth a bit more in the longer term.
"When you open a Stocks & Shares ISA you will start on our £4.99 a month Investor Essentials plan. Should your investments grow above £30,000, you will move onto our £9.99 a month Investor plan." £60 per year to hold 9k worth of shares. High Street bank would be cheaper than that (0.25%+0.25%), at least while the contents remained low.
Oh, there might be a discounted fee since I already have the SIPP with them
EDIT: Looks like I've already got the option of an ISA
Investor + SIPP
£19.99/month
Our most popular option, with your first trade free each month.
ISA
Trading Account
Junior ISA
SIPP + £10.00
Free regular investing
Friends & Family + £5.00
Free monthly tradeCommission costs
UK Shares and Funds, US Shares
£5.99
Other International Shares
£19.99
Dividend Reinvestment
£0.99
hippy
I've got some kind of share save scheme maturing soon.
I can take the cash, which I presume will immediately be cut in half due to tax.
Or I can use the savings to buy the shares (which currently are worth less than the option price, but about the same price for all intents)
What would you do and why? I'm erring towards taking the cash, simply because I can't buy beer with shares but then maybe longer term shares might be a better idea? Although the trend for the shares has been down since maybe 2015.