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Posted Sat, 23 Apr 2022 15:10:57 GMT by lifeless1 tracy
Hi, my partner received RSU's from his employer, which have now Vested, he sold ALL of them straight away (as soon as they became his)and payed tax through payroll, which shows as supplementary cash/income on his payslip and P60. His company has told him that when filling in 'self assessment' (due to higher earnings) he does NOT need to list them separately and just to put them'under total earnings' for the year, as shown on his P60, (as he would with bonuses etc) because he sold them ALL and was given the total cash value (taxed at 45%).The company says that it treats them as cash and/or SIP type payments when all sold 'straight away' on Vesting. Is this correct? Do we just enter them 'under total earnings for year, Or will the shares - even though sold immediately on ownership (non retained) and all payments taxed and showing on P60 -need to be listed separately on his 'self assessment' form? Very grateful for help thanks.
Posted Wed, 27 Apr 2022 11:46:07 GMT by HMRC Admin 19
Hi,

The employment page should hold the total pay and tax deducted as shown on the P60. As the tax paid on the RSU is not shown on the P60, you can show this as a Foreign Tax Credit on the foreign section of the tax return. 

Thank you.

 
Posted Wed, 27 Apr 2022 12:43:08 GMT by lifeless1 tracy
Hi, sorry my fault for being confusing - the Tax paid on the rsu's IS showing on the P60 , it is included under total income tax. So do we still need to enter the rsu tax amount separately, or just under total income. Thanks PS - sorry for confusion.
Posted Tue, 03 May 2022 15:02:38 GMT by HMRC Admin 19
Hi,

If the company has operated UK tax on the RSU then this would only go in the employment page and there would be no need for a foreign page.

Thank you.
Posted Tue, 03 May 2022 15:58:30 GMT by lifeless1 tracy
Thank you that is very helpful.

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