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Posted Wed, 21 Sep 2022 12:44:28 GMT by Dimi07
I received prorated tax applied to the US for RSUs that vested this year. The majority of income/tax was applied to my UK payroll, however a small part was applied to the US. It's not clear to me which of the Foreign Income options I should select and/or how I answer the question: Were you unable to transfer some or all of your overseas income to the UK? as I technically did receive the shares into a brokerage account so assuming the answer is Yes here. Anyone resolved this before in terms of which type of Income to log this as? I'm comfortable with all the FX rate calculations etc, I just need to know how to reflect this in the foreign income type part of the form.
Posted Wed, 21 Sep 2022 15:04:40 GMT by Dimi07
I've since read that maybe this income should be listed in the Additional Income section on my current employment record and the foreign income section is only if I am looking to claim tax relief. Adding this additional context should this be the appropriate way forward.
Posted Thu, 22 Sep 2022 12:57:26 GMT by HMRC Admin 20
Hi Dimi07,

The answer would be no as this applies to countries that stop you from moving money out of the country.
In order to claim the US tax as a credit, include it as foreign income under income from employment - it doesnt duplicate the income - and use the same figure from your P60. Give additional information to clarify the position.

Thank you.

 

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