UK Stock Sales

[Maria]

Hi,

Anyone familiar with UK tax law? One of our clients had sold some of the stocks in UK. I guess this client used to work in UK. The brokage report shows:

Allocation Share Shares Sales Locked In Taxable NonTaxable
Date Type Sold Proceeds Value Proceeds Proceeds

13/04/99 Employee 18 180.45 0.00 0.00 180.45
10/08/99 Company 14 153.93 0.00 0.00 153.93

Does this look like the US incentive stock option? I am wondering why it is nontaxable. I am going to do some research on Inland Revenue website but if anyone knows I appreciate your help.

Thanks.

[Bees Knees]

If your client is subject to US tax, then UK tax law would only be relevant for purposes of figuring UK tax. It could be nontaxable for UK tax purposes, but taxable for US tax purposes.

[Maria]

UK Stock Sales

Thanks for your reply. Yes I believe it is taxable in US. Trying to find basis etc....