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Topic: Stock & Tax Question (Please answer fast)  (Read 1070 times)

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Stock & Tax Question (Please answer fast)
« on: May 30, 2018, 02:47:47 PM »
Hi guys.

To cut a long story short my company are offering company shares where the company will contribute 25%.

My company overall is American (Teledyne) but I work for their UK Ltd side.

I'm considering putting the max contribution each month into the scheme (which is one share per month) and after a year when I'm planning to buy a house I will sell them and take a profit.

My question is - will my wife (USC) get taxed on this?

The deadline is today on whether to do it so if you could offer any advice fast I'd really appreciate it!
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Re: Stock & Tax Question (Please answer fast)
« Reply #1 on: May 30, 2018, 03:13:49 PM »
Quote from: Ben1989 on May 30, 2018, 02:47:47 PM
Hi guys.

To cut a long story short my company are offering company shares where the company will contribute 25%.

My company overall is American (Teledyne) but I work for their UK Ltd side.

I'm considering putting the max contribution each month into the scheme (which is one share per month) and after a year when I'm planning to buy a house I will sell them and take a profit.

My question is - will my wife (USC) get taxed on this?

The deadline is today on whether to do it so if you could offer any advice fast I'd really appreciate it!

Unless I've managed things horribly wrong over the last several years, to my knowledge she shouldn't be taxed on your earnings or shares.  My husband was given free shares when Royal Mail privatised.  The shares were given to him, and I file "married, filing separately" so didn't report them as my income.

Hopefully, someone else will come along to reassure us both.
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Re: Stock & Tax Question (Please answer fast)
« Reply #2 on: May 30, 2018, 03:31:31 PM »
Quote from: jfkimberly on May 30, 2018, 03:13:49 PM
Unless I've managed things horribly wrong over the last several years, to my knowledge she shouldn't be taxed on your earnings or shares.  My husband was given free shares when Royal Mail privatised.  The shares were given to him, and I file "married, filing separately" so didn't report them as my income.

Hopefully, someone else will come along to reassure us both.

Thank you I just wanted to make sure
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Re: Stock & Tax Question (Please answer fast)
« Reply #3 on: May 30, 2018, 06:41:13 PM »
Quote from: jfkimberly on May 30, 2018, 03:13:49 PM
Unless I've managed things horribly wrong over the last several years, to my knowledge she shouldn't be taxed on your earnings or shares.  My husband was given free shares when Royal Mail privatised.  The shares were given to him, and I file "married, filing separately" so didn't report them as my income.

Hopefully, someone else will come along to reassure us both.

I agree.
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