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, I completing my self assessment online and am not sure

Resolved Question:

, I completing my self assessment online and am not sure where to add info on cash received return of value and I also sold Verizon shares. Took C shares option.
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.

Thanks question I am Sam and I am one of the UK tax experts.
Can you clarify you had both
1) A cash payment with the change over from Vodaphone to Verizon and then
2) Sold the verizon shares
Thanks
Sam
Customer: replied 2 years ago.

, my share trading income statement shows

£7,794.84 from sale of Verizon shares

£3,078.82 Vodafone dividend (Dummy C)

£4.48 - Corporate Action: 10538 VODAFONE GROUP ORD USD (DUMMY C)

Expert:  Sam replied 2 years ago.

Thanks response
I need you to clarify that after the change over from Vodaphone to Verizon that you took a pay out subject to income tax (option c) and that you then went on to sell your Verizon shares
Is that correct?
Thanks
Sam
Expert:  Sam replied 2 years ago.

Ok, only you will know what you have undertaken with the Verizon buy out
but I can advise the cash pay-out you took is a special dividend with the cash payment being subject to 10% tax, so this is shown on the dividends part of the main online self assessment.
If you then went on to sell the Verizon shares - then as the gain you have made is less than £10,900 there is NO capital gain so you need not declare this return on the sale.
If this is NOT the case then please advise further
Thanks
Sam
Customer: replied 2 years ago.

,

Thank you response.

To clarify then:


£3,078.82 Vodafone dividend (Dummy C)

£4.48 - Corporate Action: 10538 VODAFONE GROUP ORD USD (DUMMY C) - Declare in dividends section?

£7,794.84 from sale of Verizon shares

Shares sold taking income option (C Shares)

Considered as capital gains?

Expert:  Sam replied 2 years ago.

Thanks response
I have no idea what the £4.48 is - you should have suffered 10% tax on the Vodaphone to Verizon pay out on the £3078.82 but it is a dividend and is shown on the main return along with the 10% tax suffered (so you either had £3078.82 paid into the bank with tax suffered on £3420.91 gross or £3078.82 was the gross payout and you actually were paid £2770.94 into your bank)
And the Verizon sale of shares is a capital gain and is below the £10,900 so no need to declare this at all on your self assessment tax return.
Thanks
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13774
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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