Tax consequences of share sale
Dec 18th 2016, 11:12 pm
#1
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Thread Starter
Joined: Mar 2016
Posts: 52
Tax consequences of share sale
Hello all. Has anyone got any knowledge of the tax consequences of selling shares in a company that I worked for years ago in the UK? They are not options and some of them I purchased on the save as you earn scheme. I am now a PermRes here in the USA.
Do you know what if anything I need to report to HMRC? Cheers
Do you know what if anything I need to report to HMRC? Cheers
Last edited by PeterFrank; Dec 19th 2016 at 12:37 am.
Dec 19th 2016, 12:44 pm
#2
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Joined: Jan 2014
Location: Anchorage, AK, USA
Posts: 1,347
Re: Tax consequences of share sale
As far as I can tell, a SAYE scheme allows you tax-advantaged options to buy shares in your employer. Once you've exercised the options (bought the shares), they are held like any other shares. So, providing you're not a UK taxpayer any more, you shouldn't need to report anything to HMRC. You will need to pay capital gains tax in the US, though.
Dec 19th 2016, 1:28 pm
#3
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Joined: Nov 2012
Posts: 902
Re: Tax consequences of share sale
Hopefully you have already reported the account in which they are held nicely on your FBAR every year as well as the value on your 8938.
