Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 22 Mar 2022 08:52:53 GMT by BramleyMD
I have sold my US Non Qualifying stock options and both the equivalent of 40% tax and 2% NI have been withheld from the income. They are linked to a past employment of a UK part of a US Corporation from which I retired in 2019. How and where do I report the (foreign) income and the withheld taxes in the self assessent forms.
Posted Tue, 22 Mar 2022 14:54:39 GMT by HMRC Admin 17

Hi,
 
Plese see helpsheet HS305 which advises you to include your entry on the Additional Information page of the Self assessment form :

HS305 Employment-related shares and securities - further guidance (2021)     .


Thank you.
Posted Tue, 22 Mar 2022 15:43:31 GMT by BramleyMD
Hi, If the equivalent Income Tax and NI were withheld in the US do I need to claim Foreign tax Credit relief? Thanks
Posted Wed, 23 Mar 2022 08:59:44 GMT by HMRC Admin 17

Hi,
 
Yes, you can claim Foreign Tax Credit Relief in relation to any US tax deducted from your US NQ stock options.

See link:

Tax on foreign income   .

Thank you.

You must be signed in to post in this forum.