Hello all,
I'm wondering if anyone is able to help, I'm fairly inexperienced in this area so I may not use the correct terminology but hopefully I'll be able to explain clearly enough.
I'm a UK citizen and resident who worked for a US business for about 3 years starting early 2012. Upon joining the company I was issues a number of shares that would begin to vest after 12 months, then every 6 months after that until all shares had vested - although I left prior to 100% vesting. I ended up with about 50% of the shares vested. I don't believe I was ever paid any dividends (if that's even possible?).
When I set up the share payments I was led to believe that it was best to pay UK tax at that point, rather than upon selling as this would be a more cost effective way of eventually getting hold of the cash. Each time the shares vested I was given a payslip by my employer with details about the tax and NI contributions paid, and it seemed that a number of shares were sold at the point of vesting to cover the tax and therefore this appeared to be what the payslip was in relation to. I recall checking through at the time and it seemed to make sense - and was in line with many other employees in a similar boat.
Following a recent conversation, someone mentioned that I might be able to claim back the NI paid on these shares sold (if I've understood correctly). Upon each vest(ment?) I appeared to pay the following:
[*] Tax (code 100L)
NI (Category A)
Eers NI on Stock Income
RSU Tax Withheld (which was always negative)
And the net result of this payslip was usually near-zero payment / deduction.
Can anyone point me in the right direction on which way to go next?
Thanks
Rob
- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch