Advice on RSU's in a self assessment

Smccran

Hi all,
I've got what might be a typical situation, but am struggling to see the right way to record all of this in my self assessment return without creating what appears to be a double taxation.

A set of RSU's recently vested, and my employer has added them to my payslip. Let's say that 55 vested and out of those, 25 were sold to cover tax and I actually got 30. On my payslip there is a 'tax withheld' amount, which I'm guessing is the value of the rsu kept behind. (Those 25). Now, when completing a return for the end of year, the value of the 30 shares that vested is added as income on the P60. But the tax withheld amount doesn't seem to be factored in anywhere? 
If the vested shares are shown as income, surely that will count towards the total income I should be paying tax on, making my tax liability higher? But I've already lost 25 shares as tax on those?
Does anyone know the normal way of recording RSU's on a self assessment return?

sausage_time

For me, the value of the vesting shares appears in the payment section.  My employer does not sell to cover the tax due (because it's not easy to say what the tax liability will be - depends on other income, tax code, etc).  So they show the same amount as a deduction in the payslip.  So what happens is they add the value, calculate tax/NI, then deduct the same value so that the appropriate tax/NI has been deducted at source.  That way, there is nothing further to declare on the tax return.  Sounds like your treatment is somewhat different though.

EdSwippet

Smccran said:

... On my payslip there is a 'tax withheld' amount, which I'm guessing is the value of the rsu kept behind. (Those 25). Now, when completing a return for the end of year, the value of the 30 shares that vested is added as income on the P60. But the tax withheld amount doesn't seem to be factored in anywhere? 

Hmm. It sounds to me like there's a mismatch between these two statements.

The P60 should generally show nothing more or less than a summation of the Pay and Tax Deducted across the year's payslips. If it doesn't, then either the P60 or the payslips are wrong. Errors in both are not unknown. And unfortunately, it's apparently your responsibility to check that they match up.