Skip to main content

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

  • RE: Salary Sacrifice taxable income after leaving a job

    Hi, thanks for the reply. I dont think thats whats happening here though. There was certainly no income paid to me at all. So the fact that its come through on a payslip as taxable income is the concern. I have been in touch with them today actually and right now it is a blame game between them and Computershare (the administrators of the Share investment plan). My ex employer say that they were notified that all the shares were sold (not true). Even if they were, i would not expect them to issue a payslip and describe the sale of shares as taxable income. So im still at a loss. I am trying to gather the evidence from them now (ie transaction statements that they have used) to give to Computershare so they can query it all their end. Frustratingly the middle man here. I guess my question to the experts is, should any share sales via a salary sacrifice scheme be classed as taxable income?
  • Salary Sacrifice taxable income after leaving a job

    Hi All I've been in a battle with my old employer for 6 months now and wondered if anyone can validate my thinking on this. I left my old job in March 2022. While I was there I was contributing to a Share Incentive Plan (pre tax shares) a total of 638 shares. When I left I didn’t touch them, so they had to vest and some were sold to cover the tax (145 shares sold to cover the tax). All very normal, the shares then move into my personal share account and that should be the end of it. But then strangely in June 2022 I was sent a payslip from my old employer showing income of 493 shares from UKSIP proceeds. This is now on record with HMRC and is included as taxable income, which is affecting my tax code and causing a big chunk of extra tax each month. In my opinion, I paid for the shares pre tax, then when I left I paid the tax on them via the sell to cover, there should be no more action from my old employer. The shares are now wholly owned in my share account to do with as I please. Surely they are not counted as an additional taxable income considering I actually paid for them in full? Thanks in advance