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Posted Fri, 22 Nov 2024 09:14:53 GMT by Jarve
I was given EMI shares, the taxable value of the profit on these was £55k and this was paid via my normal PAYE wages, as such I paid £25k tax at 45% plus £1.1k NI leaving me with an income from these of £34k. My question is for my tax return do I still need to declare these shares and pay Capital Gains tax on the £34k?
Posted Wed, 27 Nov 2024 14:18:56 GMT by HMRC Admin 20 Response
Hi,
If you were given a discount on the market value, you might have to pay Income Tax or National Insurance on the difference between what you pay and what the shares were worth.
If you buy the shares within 10 years of being offered them, you will not pay Income Tax or National Insurance on the difference.
You may have to pay Capital Gains Tax if you sell the shares.
Thank you.

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