HMRC Admin 20 Response
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RE: Tax relief on back pay
Hi,
Unfortunately this is not possible, your liability for tax is in the financial year you receive the income, not when the income is generated.
Thank you. -
RE: UK employed holding US Incentive Stock Options (ISO)
Hi,
Restricted Stock Units, are a way of employers providing incentives to employees over the long term (ERSM20192 - Employment-related securities and options: what are securities: Long Term Incentive Plan (LTIP)).
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 the income is not included in your P60 pay figure, please include it in the box on the employment page for 'Tips and other payments not included on your P60' (box 3 of SA102 or online equivalent).
ERSM20193 advises that when RSUs payout at the market value on what is called "dividend equivalents" in either cash or shares, such payments will generally be taxed as earnings in the year they are received. ERSM20193 - Employment-related securities and options: what are securities: RSUs and dividend equivalents.
If you retain the shares after they vest, then you may have capital gains tax to pay on selling the shares.
Thank you. -
RE: Capital gains tax on principal house but then rented whilst living abroad
Hi,
Please have a look at the guidance at HS283 Private Residence Relief (2024).
We cannot advise on the boxes on non HMRC spreadsheets.
No you will only get private residence relief for the period you lived in the property and the final 9 months.
Thank you. -
RE: Deceased father's paper tax return
Hi,
You can find out when you can expect to receive a reply from HMRC at Check when you can expect a reply from HMRC.
You can also contact HMRC to check on the progress Self Assessment: general enquiries
Thank you. -
RE: Tax refund on Self Assessment
Hi,
Unfortunately, it is not possible to review personal matters in this forum.
For individualised assistance please contact our self assessment helpline or contact our webchat Self Assessment: general enquiries
Thank you. -
RE: Stock & shares ISA
Hi,
Yes you can do this
Thank you. -
RE: High Income Child Benefit Charge Self Assessment Query
Hi,
On the SA1 form for High Income Child Benefit Charge you enter the latest date of tax year end date your income for Child Benefit purposes went over £50,000 or the date your Child Benefit payments started, if after 7 January 2013 or enter 7 January 2013 (if you got Child Benefit before the new rules became effective).
Thank you. -
RE: Inheritance from abroad, non UK deceased parent
Hi,
You will not be charged Inheritance tax but you will be liable to capital gains on any increase in value of the property and shares when sold, see -
Capital Gains Tax: what you pay it on, rates and allowances
and
Remittance basis 2024 (HS264)
Thank you. -
RE: Italy/UK taxation
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RE: Delayed estate cash
Hi,
Please contact the IHT helpline on 0300 123 1072.
Thank you.