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Posted Sun, 14 Jan 2024 21:59:52 GMT by
Hi, We left UK during tax year 22/23 (late April 22). My wife was paid in 2023 (Feb) a bonus in the US from the US parent of her employer; and shares that vested, that were initially granted in Jan 2022 from same US employer. The US employer has paid UK taxes on the bonus and shares and reported this to HMRC, and we can see the GBP value of the income / taxes as per the taxable income on her HMRC online portal, with income tax paid (no NI). This is because the bonus / shares were earned partially from work done in the UK. For the Self-Assessment, should this income /taxes reported as income in Box 1 and Box 2, given that it was reported by the same employer on the taxable income report? Or should the bonus and shares be reported on the "Additional Information" pages, specifically "Share schemes and employment lump sums, compensation and deductions, certain post-employment income and patent royalty payments"? If so, what Boxes? Box 3 and 6? The issue is that it is not clear whether the income is "included in the P45" - the P45 given when leaving the UK employer didn't include any of this information, because it was paid months after leaving. Does the fact that it was reported to HMRC as taxable income and viewable on the HMRC portal suggest that it is now "P45 income" and can be included all in Box 1 for the SA102? Perhaps the P45 should be re-issued?
Posted Tue, 16 Jan 2024 10:07:32 GMT by
Friendly bump for a HMRC admin to help out - I am going to put this information into Box 1 most likely because of what this says in the SA102 notes: "Box 1 Pay from this employment Use the figures from your P45 or P60 to fill in box 1. If you received furlough payments, your P45 or P60 will include these payments. If you left a job during the year, put the figure from the ‘Total pay in this employment’ section on your P45 in box 1. If you have a P60, put the figure in the ‘In this employment’ section in box 1. If you had more than one job in the tax year, your P60 may show this. Put those details on a separate ‘Employment’ page. Check the pay figures on your P45 or P60 before including them. If you received any payments after your employer gave you a P45 or P60, these should also be included in box 1. " Because of the last sentence, that implies that any shares / bonus that have been reported as taxable income, with taxes paid, and would have been put into a P45/P60 by the employer had my wife stay in the UK employer, should therefore be put into Box 1 If this is wrong, please can a HMRC admin reply to clarify.
Posted Wed, 17 Jan 2024 12:55:02 GMT by HMRC Admin 8
Hi,
This should be reported under the employment income section of the return.
Thankyou.

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