What action can the ATO take to retrieve tax when I am in the UK?
Nov 23rd 2014, 6:01 pm
#1
Forum Regular
Thread Starter
Joined: Oct 2007
Posts: 136
What action can the ATO take to retrieve tax when I am in the UK?
Hi all,
Bit of a story. Let me state the facts.
- I relocated to Australia in 2010 and left in May 2012.
- I received an internal transfer from my company, whom I worked for a total of about 8 years (6+ in UK, 18 months in Oz)
- Over the course of my employment I received a lot of stock options that mature over years.
- The vast majority of these were awarded to me when I was in the UK and matured when I was in the UK. A few matured while in Australia but not a lot at all.
- I left the company, left Australia and sold my stock options.
- I sold my stock option in August 2012 when I was back in the UK.
- I put the stock options on my UK tax return for 2012/2013. I have not tried to dodge tax but simply claimed the tax where I saw fit - I'm aware the issue is the ATO may not see it as black and white as this.
Recently the ATO sent me a letter (in the UK) asking for the tax. It seems my company notified them as they are a benefit and now the ATO wants the tax.
Does anyone have any idea what the ATO can do? How powerful is the ATO/HMRC relationship?
Bit of a story. Let me state the facts.
- I relocated to Australia in 2010 and left in May 2012.
- I received an internal transfer from my company, whom I worked for a total of about 8 years (6+ in UK, 18 months in Oz)
- Over the course of my employment I received a lot of stock options that mature over years.
- The vast majority of these were awarded to me when I was in the UK and matured when I was in the UK. A few matured while in Australia but not a lot at all.
- I left the company, left Australia and sold my stock options.
- I sold my stock option in August 2012 when I was back in the UK.
- I put the stock options on my UK tax return for 2012/2013. I have not tried to dodge tax but simply claimed the tax where I saw fit - I'm aware the issue is the ATO may not see it as black and white as this.
Recently the ATO sent me a letter (in the UK) asking for the tax. It seems my company notified them as they are a benefit and now the ATO wants the tax.
Does anyone have any idea what the ATO can do? How powerful is the ATO/HMRC relationship?
Nov 24th 2014, 12:56 am
#2
BE Enthusiast
Joined: Feb 2014
Posts: 592
Re: What action can the ATO take to retrieve tax when I am in the UK?
Last edited by john in oz; Nov 24th 2014 at 1:01 am. Reason: add info
Nov 24th 2014, 1:07 am
#3
BE Enthusiast
Joined: Feb 2014
Posts: 592
Re: What action can the ATO take to retrieve tax when I am in the UK?
I would suggest you get appropriate advice from a professional who deals in this area. The ATO can pursue you through a number of methods and it will just depend on their determination and the amounts involved as to what action they may or may not take.
As always it is best to make suitable payment arrangements with the ATO on debts owed or if in dispute with them request a review or a private ruling on the issue.
As always it is best to make suitable payment arrangements with the ATO on debts owed or if in dispute with them request a review or a private ruling on the issue.
