Skip to main content

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

Posted Mon, 13 May 2024 21:33:22 GMT by seantreanor
Hi there, I need to fill in a self assessment this year as my partner and I claim child benefit and my salary is over £50,100. I am hoping you can help me answer the following questions in order to continue: 1. Do I include private medical and dental cover (benefit in kind) if they are payrolled? 2. Do I declare free shares that have been received and sold as part of a Share Incentive Plan (SIP) through my employer? Since the shares were processed via my normal PAYE, I paid the necessary Income tax and NIC on them already. If the answer to the question above is "Yes", is there a dedicated place on the tax return to offset the tax due with the amount I paid already? 3. Why am I being asked to pay student finance on this since I pay this monthly via PAYE? It's down as "plus Student Loan repayments (plan 01)". As a test, I removed the money received from shares and dividends and it still was fixed at £41.00. I look forward to hearing from you soon. Thanks, Sean
Posted Fri, 17 May 2024 05:21:44 GMT by HMRC Admin 25
Hi seantreanor,
1) As these benefits are payrolled, you do not need to include them.
2) As the tax due on the disposal of your shares via SIP has already been paid via PAYE, you do not need to declare them.
more advice here:
Tax when you sell shares
3) For more advice on the Student Loans present in your tax calculation, please contact the Student Loans Company, here:
Contact SLC - repayment enquiries
Thank you. 
 

You must be signed in to post in this forum.