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Posted Tue, 12 Jan 2021 12:26:52 GMT by RD Metcalfe
Hi I have received RSUs from my US employer which have vested in the last taxation year. Through the scheme, a proportion of those RSUs have already been sold to cover my taxation liability. When I complete the Self Assessment, in the Foreign income details section which income type should I use to detail the RSUs that have vested and the sales that have already been made to cover the tax? Thanks
Posted Fri, 15 Jan 2021 11:03:18 GMT by HMRC Admin 15
Hi As the payment is from your employer the income should be shown in the employment 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'. Thank you
Posted Mon, 18 Jan 2021 12:11:28 GMT by Sharetime 501
Hi, can I just check please the circumstances here - I am UK tax resident working for the UK sub of a US parent company, and have RSUs in the parent that have vested this year. Again shares were withheld to pay for the tax/NI liability, but the gain and UK tax appears on my P60. Do I need to record anything in the Foreign Income section of my self assessment or is it all fine as normal income from employment? I don’t think in my case the tax is foreign tax it’s UK PAYE? Separately, if I sell any shares giving rise to a capital gain, does that gain need recording in foreign income or just as UK gains? And presumably nothing is required if that gain is under the £12k threshold?
Posted Tue, 11 May 2021 15:06:38 GMT by HMRC Admin 19
Hi,

It depends on the employer share scheme as to what type of tax they are subject to. You would need to check your paperwork.

Further guidance, however, can be found here:
Tax and Employee Share Schemes

Thank you.
Posted Thu, 20 May 2021 17:28:30 GMT by Nick Patrick
Hi there I also received RSUs from my previous US employer which have vested in the last taxation year. Through the scheme, a proportion of those RSUs have already been sold to cover my taxation liability/withholding tax. Its is a considerable sum, especially as it was taxed at 45% plus NI while I presently have only a minimal income and no NI to pay (though this is income so will likely be lifting to pay NI). I do not have a p60 from the company as I left 2 years ago and the shares only vested this February. My only income is through my company which has been put down in my self assessment as my only employer. Where would I put this income and do I show the tax already paid there or just the income while HMRC will note the withholding tax paid? Do I need to apply an exchange rate? If so which one?
Posted Mon, 24 May 2021 12:16:26 GMT by HMRC Admin 19
Hi,

Please see guidance here:
ERSM20192

You may need to check with the provider or your paperwork to see what tax is due when vested. This will then depend where they are entered on the return.

As they are foreign shares, you would need to also complete the foreign section of the return to show the tax already paid. HMRC can then look at giving credit for this so that you are not taxed twice on the same income. You can either use the monthly or the yeraly exchange rate for this:
Exchange rates from HMRC in CSV and XML format

Thank you.
Posted Mon, 24 May 2021 15:53:29 GMT by Mirabela Sacuiu
Hello - if my shares were vested in 2018 -to 2020 but i sold them only now in 2021 the capital gain i need to declare it in my next Self Assessment tax return correct? If the employer reported the total income tax as part of my P60, do I need to calculate the Capital tax gain? Thank you, MS
Posted Fri, 28 May 2021 11:53:43 GMT by HMRC Admin 19
Hi,

If the shares were sold in the 20/21 tax year then this is the Self Assessment return that it would need to be reported on.

Gains are reported the year in which they arise.

Only the Income Tax will have been paid through your payroll so this would not include any gain.

You would need to work out the gain yourself, guidance on this can be found here:
Capital Gains Tax

​​​​​​​
Thank you.
Posted Wed, 20 Oct 2021 18:46:32 GMT by Nico Izzo
Hi, Do employers have to report RSUs via payroll during the same month of vesting? Can it be done within a certain number of payroll cycles? Thanks in advance Regards,
Posted Mon, 01 Nov 2021 13:02:45 GMT by Username
Hello, In the above responses from HMRC Admin, they say: 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'. Question 1) Where is the section 'Tips and other payments not included on your P60'? It's not on the SA form. (I think it used to be in the help guide, not that HMRC Admin say this). Question 2) The help guide seems to have changed, and now, there is a SA form for 2020 and a different one for 2021. So could HMRC Admin please update their answer to RD Metcalfe and Sharetime 501? Question 3) I am in a similar position as them, I think. I'm a UK citizen, working for an American corporation. They give employees RSU's (Restricted Stock Unit), but I have to pay US tax at 54% before I get to see these shares (so I only get half of what they give to me). Can I offset this American tax liability or use tax relief (HS261) when completing my self-assessment capital gains tax? If Yes, where do I enter this information? I also read a page on the HMRC website stating that stocks given to employees as a RSU/share plan are not subject to capital gains tax. Is this correct? Thank you for your time and help.
Posted Mon, 01 Nov 2021 15:20:42 GMT by HMRC Admin 17

Hi,
 
The tips section of the form can be found under the employment page where it asks for your pay and tax information.

The hlpeguidaes are spcific for each year so you  will need to look at the relevant guides for the year in question.

As mentioned above, if you have paid tax on the income side of things through payroll then you can claim this back through the foreign section of the return.

You would need to check your paperwork for the conditions of the RSU'd to see whether they are subject to capital gains tax or not. 

Thank you.
Posted Thu, 16 Dec 2021 22:19:23 GMT by bob1965
Hi, My situation concerns RSUs but is slightly different to those above: I have some RSUs that vested this year - these are held in a US broker account, but UK income tax and NI was deducted when they vested. They are not included on my P60. I don't believe i owe anything at this point (correct tax and NI was deducted, and i have't sold them yet) but my question is whether this needs to be included in my tax return? And if so, where? Thanks!

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