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Posted Wed, 04 Jan 2023 14:11:55 GMT by neil thomson
I am a UK resident and have received 27 RSUs from a US Tech company . When the RSUs vested the company held back 13 RSUs to cover taxation. I then immediately sold the balance of 14 RSUs and received the net amount in my UK personal bank account. Do I have to pay additional UK income tax over and above the withheld amount by the US company ? Will this transaction appear on my P60 or do I need to manually add to self assement? If I do have to pay UK tax do I get foreign tax credit ?
Posted Wed, 11 Jan 2023 08:51:00 GMT by HMRC Admin 19

As the payment is from your employer, the income should be shown in the employment section if it is included in your P60. You would then claim credit for the tax in the foreign section under 'Employment, self-employment and other income which you paid foreign tax on'.

If it is not included in your P60, please include it in the box on the employment page for 'Tips and other payments not included on your P60'.  The guidance below advises that when RSUs payout at the market value on what is called ""dividend equivalents"" in either cash or shares, such payments will generally be taxed as earnings in the year they are received.

ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents

Thank you. 

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