Hi, I have just found the supporting guidance document for employment related shares (HS305), which states the following:
"You only need to complete the 'Share schemes' box, box 1 on page Ai2 if your employer has not deducted tax from the whole taxable amount." and "You do not complete the 'Share schemes' box for taxable amounts which your employer has fully taxed."
As my P60 includes the shares and my employer has deducted the tax, it doesn't look like I need to enter them in this additional field.
Apologies, I should have checked HS305 before submitting my initial query.
Hi, Thank you for your response. I am still confused as if I enter this income in the share schemes section and calculate the payment, the amount is more than what we have received in child benefit! This can't be correct? This income has already been taxed and is included on my P60 - I do not owe any tax as I am PAYE, I purely need to pay the High Income Child Benefit charge.
Also, I am not at the £60K threshold where you have to pay back all the child benefit, so again this amount has to be incorrect?
Please could you clarify? Many thanks for your help.
Hi, I am in the process of completing a self assessment to determine the High Income Child Benefit Charge.
I am confused as to whether I need to include shares awarded to me by my employer which have already had the tax paid? If so, which section should this go in?
Many thanks for your help.