Hoping that amongst the kind folk on TZ that there may be someone who can answer a quick tax related question (no advice/info given will be held against you ;) )
Anyway to the question, I am fortunate enough to be granted stock through my company and this takes the form of Options and also Restricted stock units, on both counts when I sell I am taxed at source although with the RSUs I am taxed upon vesting (ie even if i dont sell) now I have never been sure about whether in addition to UK income tax and NI I will also be liable to CGT on top (despite my best efforts on HMRC and various tax help sites)?
Can anyone confirm if there is any 'additional' CGT liability on sales of the stock above and beyond the tax at source component (I would add these are US options/RSUs in case that makes a difference)?
TIA for any advice/information (particularly as I am getting made redundant this year so dont want to get clobbered when I have to sell them to help pay the mortgage :( )
Bit dangerous to give you soundbite advice without seeing the documentation but there will be possible capital gains tax.
However this will only be on the amount received in excess of the value used for the income tax benefit.
The annual exemption will still be available,
Totally understand and I think what you are saying matches my understanding ie that the value at vesting/sale is not CGT liable but any 'profit' above the value at taxing then could be CGT (although the chances of exceeding £10600 for the 'difference' would be la la land on the amount I get ;) )Originally Posted by garylee
e.g. £10k value of vested stock/options is taxed and remaining value is £5900, only if the sale value was £16500 + would any CGT be liable?
Posting Permissions
Reply With Quote