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Exercised share options loss, CGT offset?

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Joined: Wed Jan 11, 2017 3:08 pm

Exercised share options loss, CGT offset?

Postby winged_2001 » Wed Jan 11, 2017 3:18 pm

Hi there,

Thanks for your help in advance on this one.

2 1/2 years ago made a cashless exercise on a number of unapproved employee share options. At the time the share value was high and I paid income tax through PAYE on the difference between the option price and the share price, following the exercise.

I've held on to some of the shares since the exercise and am now looking to sell. However, the shares have dropped in value and while I won't technically see a loss per se (as they were options originally) I'm mindful when I sell them I'll have paid income tax previously based on the original cashless exercise, when they were a higher value - therefore, it feels like I've overpaid in tax.

I'm sure had the shares gone up in value, I would additionally pay CGT on the profits from exercise to now - so Is it possible I can claim this "overpaid" tax back? Or offset it somehow?

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