Premierview
Registered User
- Messages
- 8
My husband works for a publicly quoted US multinational. As part of his remuneration package he is allocated shares i.e. he does not pay anything for the shares, they are considered part of his overall package.
Since Sept. 2013 he has been allocated approx. 58,000 shares at regular intervals. The shares that he was allocated varied in value from a high of $12.64 to a low of $6.05.
In May he sold 6000 shares from his allocation at $4.67 and last week sold another 7,000 valued at $5.50 - i.e. in both cases he made a paper loss compared to the original value.
So far he hasn't taken any action re. the revenue. Can someone please tell us:
- is there any tax liability owed by him - while he paid nothing for the shares he made a paper loss?
- if there is no tax liability does he have to fill in any form for revenue - if so which one?
- if there is a tax liability owed how do we calculate it and what do we have to do to pay it.
Many thanks!
Since Sept. 2013 he has been allocated approx. 58,000 shares at regular intervals. The shares that he was allocated varied in value from a high of $12.64 to a low of $6.05.
In May he sold 6000 shares from his allocation at $4.67 and last week sold another 7,000 valued at $5.50 - i.e. in both cases he made a paper loss compared to the original value.
So far he hasn't taken any action re. the revenue. Can someone please tell us:
- is there any tax liability owed by him - while he paid nothing for the shares he made a paper loss?
- if there is no tax liability does he have to fill in any form for revenue - if so which one?
- if there is a tax liability owed how do we calculate it and what do we have to do to pay it.
Many thanks!