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Is this Share Scheme HMRC approved?
The only way to check is with your employer. I have known of schemes run by US employers which were approved.
If it is approved there is no tax charge on vesting. If it is not then there will be an Income Tax (IT) charge on the difference between the vesting price and the current market price.
On sale the rules are the same. There will be a Capital Gains Tax (CGT) charge levied on any gain made. This will be at 10% or 20% or a combination of the two rates depending on your income including the gain in the tax year of disposal. You have a non cumulative Annual Exempt Amount (AEA), currently 12.3K, to offset any gain.
Correct, you would do that on your annual self assessment tax return.
You could always write to HMRC to amend your return, but the gain would have to exceed the AEA to need to be reported at all.
Not usually, after all everybody makes errors from time to time including HMRC! Only if the gain exceeded the AEA would it have o be declared.
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