Where PAYE has been operated by the employer on shares
acquired, no adjustment will usually be needed to the share scheme
pages of the return as the amounts should have been taken into
account in the processing of the return.
Where PAYE has been operated the gross income and the tax
deducted will normally have been included in the P60 figure which
is included in the Employment Pages to the return.
The share scheme pages should still be completed by the
employee, but any taxable amounts which have been included in the
P60 or P45 figures are deducted at box 2.31B, on Page S1.
In this way the correct figure is entered into the SA
computations.
Where PAYE has been operated by the employer the completion
of the share scheme pages is still needed to allow the employee to
return the value of his shares which he considers to be correct. In
most cases this will be the same as the value used by the employer
to operate PAYE, but there could be circumstances where the
employee did not agree with the valuation.
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