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bigduckontax, Accountant
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2015-2016 is a split year for me. In december while I am a

Resolved Question:

2015-2016 is a split year for me. In december while I am a UK resident, my former employer sold some shares held abroad to pay some taxes abroad on my behalf. Do I need to report that in UK and how?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Was any gain made on the sale of those shares?

Customer: replied 1 year ago.
Hi Keith,
I have added the file. It's a 1099. So the amount has already been reported to IRS in USA.
Basically from 06th April 2015 till 2nd August 2015 I was a US resident. From 3rd August 2015 till 05th April 2016, I am a UK resident. The sale of those shares was made in december 2015 while I am a UK resident.
There is no gain. It's as if they gave the full proceeds of those shares to IRS.
Does it make sense?
Expert:  bigduckontax replied 1 year ago.

Yes it does, as there was no gain there is no requirement to make any declaration to HMRC.

Just forget about it, but keep the paper work just in case.

I do hope that I have put your mind at rest on this matter.

Customer: replied 1 year ago.
that's what I thought although this morning I got a letter from the Offshore Coordination Unit at HRMC saying that they want me to confirm that I do or don't have a swiss investment/account. It's as if they received that 1099. So really nothing to worry about and forget about it?
Expert:  bigduckontax replied 1 year ago.

Just confirm that you do not have a Swiss Investment account. HMRC do tend to pick up the wildest assumptions, invariably incorrect and always in the Revenue's favour.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 1 year ago.
Thanks a lot. That's what I have just done.
Expert:  bigduckontax replied 1 year ago.

Thank you for your support.