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Posted Fri, 12 Jan 2024 10:34:23 GMT by
Part of my remuneration package from my employer is shares (RSUs), some of which have vested during the 22/23 tax year. I also receive taxable benefits. My employer does not provide us with P11D forms or any annual summary of the value of these things though as they claim we do not need them, as both the RSUs and all benefits are processed through payroll, with taxes paid monthy direct to HMRC. It is true that all taxes have already been paid for the RSUs and benefits, I can see this on my monthly payslips. The problem is that when I fill in my online assessment it wants me to break down the value of these things separately. But I don't have that information. I can see it on my monthly payslips but it's way too complex for me to figure out exact numbers over the course of a tax year. And HMRC already has this information surely? All I actually need to declare (that HMRC isn't already aware of and tax paid on) is interest earned on savings, which is within my tax-free limit anyway. I tried declaring the whole value on my P60 (which includes RSUs etc as well as salary) in the main 'income' box, then answering 'no' in the shares and benefits boxes, but then it claims I owe £5k in tax, presumably because it fails to recognise that tax has already been paid on them. Really not sure what to do here so any help gratefully accepted.
Posted Wed, 17 Jan 2024 09:17:37 GMT by HMRC Admin 5
Hi 

As the payment is from your employer, the income should be shown in the employment section (SA102) or equivalent online 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's not included in your P60, please include it on the box on the employment page for 'Tips and other payments not included on your P60'.  
ERSM20193 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.  
Please see ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents.

Thank you
Posted Sun, 21 Jan 2024 16:44:30 GMT by
Thanks for your reply. I'm not sure what you mean about claiming credit for the Tax in the foreign section 'Employment, self-employment and other income which you paid foreign tax on'. I don't see any section with that name or anything like it. All taxes were paid monthly, through payroll, on the vesting RSUs as well as normal income. I'm confused because if all taxes have been paid through payroll (which appears to be the case), why would I suddenly owe an additional £5k?
Posted Wed, 24 Jan 2024 15:24:03 GMT by HMRC Admin 25
Hi spoovy,
We are unable to review personal matters in this forum.
 For an answer to a personal question of this nature, you would need to contact our Self Assesment helpline on 0300 200 3310 or contact our webchat facility here:
Self Assessment: general enquiries
Thank you. 

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