US Stock Options Taxation for UK Resident

[mchammer65]

I wonder if there is anyone that can provide some guidance for me. I live in the UK and started working for a very large listed US company about 18 months ago. Part of my package is stock options traded on the NASDAQ. I decided to cash the first tranche in after a year, but have now been subject to 47% witholding tax. I had assumed as I am a UK national and UK tax payer, that it would be classed as income as this is a un-approved scheme and I would have to pay NIC and Tax at my highest marginal rate in the UK to HMRC. So some questions 1) Should i reclaim the witholding tax from the IRS (and if i do I have read I need to get a TIN via a W7 form, and then claim back the witholding tax) or 2) is this effectively offset against HMRC tax liabilities 3) given this is going to be an annual event, whats the best way for me to plan for this in the future ? Are there any specialist tax advisors who can help?

[DavidTreitel]

Sounds as if you have had UK tax & NIC withheld ... have you checked with your employer?