First self assessment with RSUs

oogie_boogie

Received vested RSUs from my employer June 2023 showing as income on my P60 and accounted for on my payslip with tax withheld and company paying their own NIC. 

Do I need to put this information on my self assessment anywhere other than P60 total for year?

Also I recently left the company and sold the RSUs with a profit of £1200 on the original vested price do I include the £1200 gain on my 2024/2025 Self Assessment? Was below £3000 threshold.
At time of share sale I also received a dividend of £250, does I include this figure anywhere on my Self Assessments? Again below the £500 dividend threshold.
Thanks in advance for any help as I am giving myself a scrambled brain.

EdSwippet

oogie_boogie said:

Received vested RSUs from my employer June 2023 showing as income on my P60 and accounted for on my payslip with tax withheld and company paying their own NIC. 

Do I need to put this information on my self assessment anywhere other than P60 total for year?

No. If your P60 covers it then it's accounted for already as salary. Adding it elsewhere would be an error (double-counting).

Also I recently left the company and sold the RSUs with a profit of £1200 on the original vested price do I include the £1200 gain on my 2024/2025 Self Assessment? Was below £3000 threshold.

Did you sell more than £50k in total of stock/assets in the year? If not, and if your total capital gain for the year is below £3k, then no need to add any capital gains information to your self assessment.

At time of share sale I also received a dividend of £250, does I include this figure anywhere on my Self Assessments? Again below the £500 dividend threshold.

This one you should add to self assessment. However, if it's your only dividend this year, when you look at your final tax calculation you should find that you're paying no tax on it, because it falls below the dividend allowance.

oogie_boogie

Thank you in advance for clarity and your time, most appreciated. 

Did you sell more than £50k in total of stock/assets in the year? If not, and if your total capital gain for the year is below £3k, then no need to add any capital gains information to your self assessment.

On my payslip in the year of vesting 2023 it stated £56000 worth of shares with £27000 withheld tax leaving approx £29000. The £29000 were sold the following year 2024 giving the gain of £1,200. 

Is the original vesting (57k) figure the one to consider for recording or the 29k figure left after tax when selling?
The gain of £1,200 if I need to show would be in the self assessment year 2024/25 as I understand?

Sorry if I’m complicating the matter. Hopefully no need for additional information on my self assessment other than P60.

This one you should add to self assessment. However, if it's your only dividend this year, when you look at your final tax calculation you should find that you're paying no tax on it, because it falls below the dividend allowance.

The £250 dividend was the only dividend I ever received and was paid directly into my bank acccount as I had already left the company, it was paid a day before receipt of sold shares. Any need to show on 2024/2025 self assessment?

Phew, hope I’m making sense.

EdSwippet

oogie_boogie said:

Did you sell more than £50k in total of stock/assets in the year? If not, and if your total capital gain for the year is below £3k, then no need to add any capital gains information to your self assessment.

On my payslip in the year of vesting 2023 it stated £56000 worth of shares with £27000 withheld tax leaving approx £29000. The £29000 were sold the following year 2024 giving the gain of £1,200. 

Is the original vesting (57k) figure the one to consider for recording or the 29k figure left after tax when selling?
The gain of £1,200 if I need to show would be in the self assessment year 2024/25 as I understand?

Sorry if I’m complicating the matter. Hopefully no need for additional information on my self assessment other than P60.

Right. Nothing more to do besides entering your P60 details exactly as it shows.

In essence, you received a £56k "bonus" from your employer, with £27k of that withheld for tax (that is, you got £29k net). The fact that you actually received this £29k in employer shares is secondary, and only comes into play if/when you later sell those shares.

Suppose you then sell those shares for £30.2k. That minus the £29k net value they had when you received them gives you a £1,200 capital gain. Because this is below £3k, and because you didn't sell more than £50k of assets in the tax year, you don't have to report or otherwise do anything about this share sale on self assessment.

This one you should add to self assessment. However, if it's your only dividend this year, when you look at your final tax calculation you should find that you're paying no tax on it, because it falls below the dividend allowance.

The £250 dividend was the only dividend I ever received and was paid directly into my bank acccount as I had already left the company, it was paid a day before receipt of sold shares. Any need to show on 2024/2025 self assessment?

Yes. For accuracy, you'll need to put this on your self assessment return. However, as already noted, you should find it makes zero difference to your final tax liability displayed when you get to the end of your return ("view my calculation").

[For undefined reasons, HMRC gives you a full pass on self assessment reporting for small (below the allowance) capital gains, but not for small (below the allowances) dividends or interest. It's inconsistent.]

oogie_boogie

Thank-you Ed
Your explanation is very clear and concise, making this years 2023/2024 very straightforward and I will input the dividend I received in 2024/2025 on that years self assessment.