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Posted Sat, 09 Mar 2024 03:02:54 GMT by Arthur
I recently moved to the UK from Canada in June 2023. At that time, I was employed by a non-UK employer and had RSUs vest. Do I owe taxes to HMRC for that? If so, how do I calculate the tax owed? Am I eligible for any foreign tax credit as the RSUs vesting were also taxed by Canada? If so, how do I determine that?
Posted Tue, 12 Mar 2024 14:19:34 GMT by HMRC Admin 19

Please have a look at the statutory residence tests below, and take the tests, to determine your residence position:

RDR3 Statutory Residence Test  

If you are resident in the UK for the whole tax year, you will need to consider the split year treatment guidance. If split year treatment applies, you would only declare your worldwide income from the date you arrived in the UK until the end of the tax year. If split year treatment does not apply, you will need to declare your worldwide income for the whole tax year and claim a foreign tax credit of up to 100% of the foreign tax paid.  

If you are considered to not be UK resident for the whole tax year, you would declare that you are not resident and only include any income and capital gains arising in the UK in a tax return.  

Where you have to declare foreign income, and, or capital gains, where foreign tax is payable, you can claim a foreign tax credit in the foreign section of a tax return. You can see guidance on Self Assessment here:

Self Assessment

Thank you.

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