RSUs and self assessment

[dom_20vturbo]

Hoping for some guidance/advice from the PH finance collective...

So I'm completing my 2013-14 tax return (yes yes shouldn't have left it so late etc.) and I have some questions on how/where to declare RSUs.

In the middle of the tax year I was made redundant (got tax free lump sum so no issue there), however, I had RSUs which vested upon being made redundant which I decided to sell at the time. I have read various things on double taxation and how it is taxed in the US and the UK and I know that I only received a percentage of the shares value due to tax witholding. So I have essentially already paid a large chunk of tax on them, however, how do I then declare this in my tax return?

I am and have always been PAYE and have managed to do my own returns in the past, however, this is first time I have had to deal with shares and I'm struggling tbh.

Any guidance/help would be most appreciated. I realise I can get an accountant to help but wanted to throw it to PH first to see if there is an easy fix.

Cheers!

[Eric Mc]

Not that familiar with these myself but HMRC has some guidance here -

http://www.hmrc.gov.uk/manuals/ersmmanual/ersm2019...

Like a lot of stock option type events, how they are taxed can be quite variable depending on the circumstances surounding the transaction.

There might be somebody along who is more familiar with such matters.

[williaa68]

Ask your HR department. Normally when such plans are put in place there will be a section on taxation in the employee guides. They will always say "take your own advice" but it should be enough to give you a basic idea. From my own experience, normally your RSUs (which turn into shares or ADRs on vesting) would be delivered net - e.g. if you are entitled to 100 and are a higher rate tax payer, they will deduct 42 (40 tax, 2 NI) and deliver you 58. If you sell these then you would generally have no further tax liability. if you kept the shares and sell later, you may have a CGT liability. You should have got various documents on vesting and the amounts should have been included in your P60, but all plans are different. I imagine the plan was administered by someone like Fidelity or State Street - try ringing them too. Good luck!