Tax return share question

[The jiffle king]

I'm filing in my tax return for 2013-2014 and have a question on some income and which part of the form to put it. I've looked through the Brief notes and cannot find the answer so hoping PH wisdom might be able to help.

I sold some "approved" share options for about £4k which did not go through payroll, but came to me as a cheque. These were part of an allowance from 2007-2008 which the company granted for me.

Previously I've been guided by an accounting firm that being approved, these can be added but should be seen as a capital gain (This part being under the threshold for the tax year.

My question is... on which form/where do I show this £4k?
Many Thanks

[Eric Mc]

Did your total Capital Gains for 2013/14 exceed £10,900?

[The jiffle king]

Eric Mc said:

Did your total Capital Gains for 2013/14 exceed £10,900?

No it did not, but I wanted to ensure transparency on my tax form

[Eric Mc]

If the transaction is handled under Capital Gains Tax (rather than Income Tax), then it appears that the gain is under the Annual Capital Gains Tax threshold and that would imply that it does not need to be shown on the Self Assessment tax return.

However, if the actual disposal/sales proceeds exceeded £40,400, the event still needs to be reported on the return, even if there was no taxable gain arising.

[The jiffle king]

Many Thanks EricMC.

I've declared some which went through as income (and have already paid tax on them)
I'll also give the tax office a call, but I was on hold for 20 minutes hence the PH question
Thankyou

[sumo69]

Taxable income from Employer Share Schemes goes on the second page of the "Additional Information" section - it is NOT a CGT matter but Income Tax.

However if you have held the shares within the scheme for the full 5 year qualifying period prior to their sale and distribution of proceeds, and the scheme is HMRC approved, then the monies are tax free and no entry on your tax return is required.

David

[The jiffle king]

sumo69 said:

Taxable income from Employer Share Schemes goes on the second page of the "Additional Information" section - it is NOT a CGT matter but Income Tax.

However if you have held the shares within the scheme for the full 5 year qualifying period prior to their sale and distribution of proceeds, and the scheme is HMRC approved, then the monies are tax free and no entry on your tax return is required.

David

Thankyou, that is what I have done