Luca Gasparini
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Non-resident tax return for RSU vest events
Hi there, I am looking for some advice on how to represent my income on my tax return. I work for a multinational company with ties in both the UK and abroad; this company has different legal entities in each country. I spent a few years in the UK and as part of my employment I was given stock grants that vest over 4 years, before moving back to my home country working for the local subsidiary. The stock grants awarded to me while employed in the UK continue to vest after my departure, although I am no longer employed by the UK branch. I am neither tax resident nor domiciled in the UK; however, when any of the stock grants originally granted in the UK vests, the company withholds a part of the stock to pay for UK taxes on my behalf. When this happens I get a payslip, but I do not get a P60 at the end of the year. I have no (other) UK income nor employment. My formal employment with the UK branch of the company ended years ago, and I am now employed and work for a different legal entity located abroad. My questions: 1. Is the company correct to withhold and pay UK taxes on these vests, although I am no longer tax resident in the UK? 1. Do these vests count as UK employment income, although I am no longer employed by the UK company? 2. Should I still receive a P60 form from the UK company even though I am no longer employed, given that they apparently paid taxes in the UK on my behalf? 3. If no P60 is due, should I use the tax paid numbers from my payslip in my tax return? Appreciate any advice. Thank you