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Research Center : Development

Jan 01,2012 | Deloitte Tax

UK Tax Authorities Confirm Intention to Apply 0T Tax Code for Post Termination Share Gains

Where UK employees receive share-based payments after employment has ended and the payment was not taxed and reported on form P45 when the employee left, withholding must currently be operated at the basic rate of tax (20%). Her Majesty’s Revenue and Customs (HMRC) have recently confirmed their intention to amend the legislation so that, with effect from April 6, 2012, the 0T code should be applied to such post termination share gains. 

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