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Where Taxpayers and Advisers Meet

Should I pay Income Tax and NIC for sold SIP shares via Self Assessment?

A1taiR
Posts:1
Joined:Fri Sep 18, 2020 6:49 pm
Should I pay Income Tax and NIC for sold SIP shares via Self Assessment?

Postby A1taiR » Fri Sep 18, 2020 7:19 pm

Hello,

My employer does my taxation through PAYE. I've recently sold some shares from my SIP (Share Incentive Plan), which I held for less than two years and the money was paid not via payroll. The gain from the sale is less than AEA (Annual Exempt Amount) so I am not liable to Capital Gains Tax. However, I should pay Income Tax and National Insurance Contributions. Should I do that via Self Assessment?

Thanks

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