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  • RE: SIPs reporting on self Assesemnt

    Hello its as per the link https://www.gov.uk/tax-employee-share-schemes/share-incentive-plans-sips "You can buy shares out of your salary before tax deductions. There’s a limit to how much you can spend - either £1,800 or 10% of your income for the tax year, whichever is lower." My employer takes off £1800 a year for partnership shares and adjusts the tax paid under PAYE. How do i report this on my annual self assessment so I'm not then having to pay all the tax back
  • SIPs reporting on self Assesemnt

    I'm in a partnership share scheme with my employee to purchase partnership shares tax free up to £1800 per annum, I pay tax through PAYE but have to do a annual return due to having other income. My employee takes off the SIP's from my gross salary and adjust the tax paid rather than a salary sacrifice like my pension, so my gross earning on my P60 includes the £1800 I have paid into the SIP how do a report this on my tax return so that my calculation is correct and I get the tax benefit from the SIP