Paying Federal (US) Tax on vested shares?
Discussion
My employer gave me some shares as a bonus on top of an annual payrise. These are vested for 4 years so I get a quarter on the anniversary each year.
When they vested this year, just over half of the vested shares were sold to pay Federal Tax - should I be paying this as a UK citizen? I assumed that I would have to declare it to the UK taxman and they would take their cut?
It seems a bit steep to me, having almost 55% taken to pay tax in a country I dont live or work in....
Have I missed a form somewhere or is this how it is? My bonus now looks pretty stty lol
When they vested this year, just over half of the vested shares were sold to pay Federal Tax - should I be paying this as a UK citizen? I assumed that I would have to declare it to the UK taxman and they would take their cut?
It seems a bit steep to me, having almost 55% taken to pay tax in a country I dont live or work in....
Have I missed a form somewhere or is this how it is? My bonus now looks pretty stty lol
This article might give you some hope: http://www.ft.com/cms/s/2/7bfea4ce-c27d-11df-956e-...
I have an account with a broker in the US and have to complete the W-8BEN form every 3 years, but I have absolutely no idea if this can be used with options from your company.
I have an account with a broker in the US and have to complete the W-8BEN form every 3 years, but I have absolutely no idea if this can be used with options from your company.
As above the w8 form - they should have asked you to provide this under the withholding tax laws. Simple form but strange terminology just claim the tax treaty. But again terminology - was it federal taxes or withholding taxes you suffered ?
You should get a 1099 form (might be 1044 ? Been a while) which is just a slip saying what was paid and deducted again an offence if not supplied
Plenty on line if you google it...
You should get a 1099 form (might be 1044 ? Been a while) which is just a slip saying what was paid and deducted again an offence if not supplied
Plenty on line if you google it...
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