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?
- Am I the only one who finds this annoying 239 7
- Can criminal action be a defence? 99 3
- National Living Wage: creating jobs or unemployment? 257 6
- Chargeable Gains - CT600 75 2
- Income prior to company formation 125 6
- How best to split income on a Buy To Let - married. How do you decide beneficial ownership 1,384 13
- HMRC Security Deposit 524 13
- Restoring a Ltd company which had been struck off 362 9
- HMRC CT600 TOOL 230 4
- My friend may have unknowingly participated in a tax avoidance scheme... 909 8
- question 372 3
- VAT underpayment 187 6
- Contracting, Subcontracting and Agency Worker Regs 244 5
- Company Limited by Guarantee 93 1
- Auto enrollment. What's the basis for contribution ? 385 9
- notarising & legalising documents 101 1
- Company Van 346 8
- Shortening an Accounting Reference Date 1,014 19
- Sage Drive Queue.dta file lock out 400 10
- Connected person and properties 199 4
- RTI Rollback to delete incorrect data 393
- Any thoughts on Capium? 366
- Motor Traders Assistant Bookkeeping Programme queries 283
- Tracesmart/Lexis Nexis AML software? Any opinions? 258
- Continuity of practice-ACCA 247
- French ConnectionUK 199
- Recommended International mobile phone coverage and costs? 185
- Fundraising for friend - minimise tax? 184
- Can anyone explain Indian Minimum Alternate Tax 180
- APN's 168