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cesc4legend wrote:I want to show the 'profit made' by me by selling company(employer) stocks.
I had enrolled for the "Employee stock purchase plan", where in my salary 'every month' an amount 'x' is deducted.
And twice in an year (Feb10 and Aug10), stocks are allocated to my account (E-trade U.S), equal to x*6 twice.
recently I sold these stocks in Nov'10 for an amount 'y', which were allocated to me on Feb'10 and Aug'10.
The period I am planning to show income is Jan-Dec'10.
I want to show the profit I made by selling the stocks = y- (x*12) .
My questions are :
1. Can I show this as income ?
2. What proofs do I need - I can give my bank statement for the money y, for x*12 i can show my payslips. Do I need anything extra ?
may be a statement from E-Trade ?
If that is the case, then I wont be able to apply for Tier-1mulderpf wrote:It's the sale of an asset and cannot be included in earnings.
John, also checking the tax law of the country he is in isn't going to change things by much. In my country we pay tax on income earned when you receive rental income. It is still excluded by the UKBA as its not "earnings" or part of any renumeration (e.g. salaried employment / self-employed earnings).
John wrote:cesc4legend, is there a slightly different angle here? And I am not talking about the profits you gained when you sold the sales.
Simply, what about the undervalue of the shares when they were allocated to you? You paid tax on that undervalue? That undervalue was put through the calculation of tax paid on your employment income?
A very unkind comment! Seeing as I support Aston Villa! In case you are not aware of the geography, both Aston Villa and Birmingham City are situated in Birmingham.@John, I presume you are a football fan, hope to see Birmingham at the Carling cup finals playing the Gunners at Wembley
Make sure that document makes it clear that you were only allocated those shares at an undervalue because of your employment. That is, get written confirmation that those shares were an integral part of your employment package.Even here I can get a document from my company saying I got allotted these many units at this rate and the tax deducted