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TonyTax
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If I exercised me previous company's stock options and

Resolved Question:

Hi, if I exercised me previous company's stock options and converted them into stock in August 2015 (it's still a private company), should I declare this tax self-assessment due to end of January?
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. Did you exercise those options through your former employer? If so, did they apply tax and NIC?
Customer: replied 1 year ago.
The company hosted the options via 3rd party management fund. I exercised via them. No thy did not apply tax and Nic as they are located in Israel and it is my responsibility to declare tax in the UK (Or at least that's what I was told).
Expert:  TonyTax replied 1 year ago.
Thanks. You won't need to disclose anything in the 2015 tax return which I imagine you are completing right now. Assuming the share option scheme was not an approved one which is the case with most foreign share option schemes, then you will have to pay UK tax on the difference between the value of the stock on the day of exercise and what you paid for them if anything via your 2016 tax return so the payment date will be 31 January 2017. Your cost for CGT purposes will then be the sum of what you paid for the shares and the sum on which you pay tax and NIC. I hope this helps but let me know if you have any further questions.
Customer: replied 1 year ago.
Very helpful Tony. Thanks a lot.
M
Expert:  TonyTax replied 1 year ago.
Thanks.
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15886
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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