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Tony Tax
Tony Tax, Tax Consultant
Category: UK Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I exercised share options in the company I work for. I originally

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I exercised share options in the company I work for. I originally bought the shares on 4th April 2012, and received the proceeds on 17th April 2013. The profit was approximately £24,000. Do I need to put this on the tax return I am about to complete for last financial year (2012/13), or should it go on this year's (2013/14)?
Submitted: 1 year ago.
Category: UK Tax
Expert:  Tony Tax replied 1 year ago.
Hi.

Can you tell me what the date of disposal of the shares was please. It will be shown on the contract note if you have one, either on paper or in electronic format. If they were sold through your employer, they will be able to tell you the actual date of sale of the shares.
Customer: replied 1 year ago.

It was in December 2012. I don't have the exact date - it will take me some time to find it.

Expert:  Tony Tax replied 1 year ago.
If the disposal occurred in December 2012 then the gain needs to be reported in your 2012/13 tax return. What I'm puzzled by is why you didn't receive the disposal proceeds until 17 April 2013.
Customer: replied 1 year ago.

The proceeds were held up by the Israeli tax authorities, as they required proof (lots and lots of documentation) that I have never lived or worked in Israel. The HQ of the company I work for is in Israel, but I am British, and have never been there. I assume this doesn't affect your answer?

Expert:  Tony Tax replied 1 year ago.

That explains the time lag between the date of disposal and the date you got the money. If you sold the shares in December 2012 then the disposal occurred in the 2012/13 tax year for UK tax purposes.

Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 14061
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
Tony Tax and other UK Tax Specialists are ready to help you
Expert:  Tony Tax replied 1 year ago.
Thanks for accepting my answer.

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