US stock options
When this issue first arose I thought i knew the answer but after speaking to HMRC i'm now more confused than before!
My client works for the UK subsidiary of a US company. As part of his package, he receives US stock options exercisable at certain time for an agreed price. In 20011/12 he exercised some of his USstock options and immediately sold the shares on the US stock market for a gain.
His employer has confirmed that no tax (either UK or US) was withheld on the cash proceeds he received.
I now need to put he details on his 2011/12 tax return.
i was expecting that PAYE should have been operated by his UK employer and NICs should have been payable. I rang HMRC but they tell me NICs aren't payable and i should put the details on the foreign income pages not the Additional Info where i was expecting to report it.
Could anyone confirm the position for me?
- How to purchase business premises? 54 1
- Childcare vouchers 72 2
- Management Company Setup Structure as Limited Company 284 6
- Depression - HMRC penalties case won because of this illness. 195 5
- VAT avoidance? 161 4
- Can S455 tax repaid 143 3
- PAYE coding out 126 3
- Follower cases 560 2
- Solicitors now, Accountants next 325 3
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 716 23
- LIVE chat, starting now 439 2
- Late Registration for VAT 432 12
- WHY AREN'T DWP RULES THE SAME BOTH WAYS ROUND 393 5
- TheTax Donut 1,127 1
- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 329 6
- Batch input of data to Xero - is there an app? 698 10
- How to explain this to someone 391 2
- Register for self assessment again as LLP member? 81 2
- Problems with Sage 50 Payroll v21(2015) pension module 706 5
- TaxCalc Accounts production 320 4
- Hive up 459
- Accounting referance change & deficient accounts. 424
- corporate hierarchy 410
- Advice - 235
- can anyone recommend Turkish speaking accountants in London 208
- Amortisation of Goodwill 200
- Anyone had HMRC refusing to act on EPS database glitch? 191
- WWOOFers 185
- Legal Aid Agency claims and VAT 168
- Art Gallery - Splitting a property between business and personal use 167