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25/10/2026

A question we are getting a lot at the moment.

You work in the UK for a company listed on a US exchange. Your equity vests. The shares are American, so the new foreign income and gains regime covers it, does it not?

Not at vest, it does not.

The value of vesting equity is treated as employment income. You are employed in the UK, which puts it firmly inside the UK employment tax net. Where the shares are listed is irrelevant at that moment.

There is no get out on the basis that the company sits on a US exchange.

Worth being clear about what this does not say. The position can look different later, when you come to sell. That is a separate question with a separate answer, and we cover it in the full video.

The point for now is simply that the listing location of your shares does not determine the treatment at vest. Your employment does.

Laura and Simon explain in our latest video.

LSR Partners help you pay the right tax in the right place at the right time.

24/10/2026

Your RSUs vest and the tax bill arrives. But which part of it belongs to the UK?

HMRC do not look at the vesting date in isolation. They look back across the whole vesting period and apportion the income according to where you were during it.

An example. A three year vesting period. You were UK tax resident for one of those three years. £30,000 vests gross.

UK income tax applies to £10,000 of it.

That matters in both directions. If you moved to the UK partway through a vesting period, only the UK portion comes into charge here. If you left, the same logic applies to what you earned while you were resident.

It also means the paperwork worth keeping is not just the vesting statement. It is the record of where you were, and when, across the years leading up to it.

Laura explains in this clip from our latest video, which also covers how the new foreign income and gains regime fits in.

LSR Partners help you pay the right tax in the right place at the right time.

The question we are getting most often at the moment concerns equity awards and the new foreign income and gains regime....
22/10/2026

The question we are getting most often at the moment concerns equity awards and the new foreign income and gains regime.

You work in the UK for a US listed company. Your RSUs vest. The shares are American, so FIG applies?

Not at vest. Vesting equity is employment income, taxed at income tax rates, and you are employed in the UK. The listing location of the shares is irrelevant at that point.

Hold those shares and sell them later, and the picture changes. Any uplift is a capital gain on a foreign asset, and that gain can qualify for FIG if you meet the criteria.

Same shares. Two different answers, depending on the date.

One further point, and it is the one that catches people out. Under the remittance basis, silence largely did the work. Under FIG, relief must be claimed on your return. If you do not tell them, it is taxable.

Simon and Laura explain in our latest video.

LSR Partners help you pay the right tax in the right place at the right time.

21/10/2026

HMRC's online assistant will connect you to a human being. Eventually.

The technique is not sophisticated. You type "need to speak to agent," and then you type it again, and you keep going until the bot concedes.

We usually ring instead. When we get involved in a client's situation, it is because the situation is complicated, and complicated things are far easier to explain out loud than to type into a chat window. Tone, context and follow-up questions all work better on a call.

There is another reason. Get a good person on the phone and the whole thing can resolve in minutes. That does not happen in a chat window.

Simon and Laura talk through the practical side of dealing with HMRC in the latest episode of the Tax Compass Podcast, including which channel works for what.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

19/10/2026

Few things are harder to sit with than penalty notices arriving for a tax return you do not believe you need to file.

The charges mount while you wait. Daily penalties, then further late filing penalties on top. The number on the notice grows every time you look at it, and it is difficult not to react.

Here is what we tell clients in that position. Hold your nerve.

If the filing requirement should not have been there, cancelling it removes the penalties along with it. They fall away together. The notices arriving in the meantime feel alarming, but they are not the final position.

That does not make the wait pleasant, particularly now the process takes considerably longer than it used to. But it does change how you read the letters while it happens.

If notices are arriving for a return you do not think you owe, the sooner someone looks at it the better.

Laura explains in this clip from the latest episode of the Tax Compass Podcast.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

17/10/2026

If you have left the UK and still receive self assessment penalty notices, this one is for you.

Plenty of people in that position do not need to file at all. No UK income, non-resident, nothing to report. Historically the fix was straightforward. We rang HMRC, asked for the filing requirement to be cancelled, and it was done.

One week we had several cancelled on the phone without difficulty. The following week, the answer was that HMRC no longer do that. It now has to be done in writing, and that can take around six months.

Consider who this affects. Almost everyone needing a filing requirement cancelled is already in the penalty regime. They are watching charges accumulate while a letter sits in a queue.

The penalties do fall away once the requirement is cancelled. But being told to sit tight for six months while the number climbs is not a comfortable place to be.

If you are getting notices for a return you do not believe you need to file, deal with it sooner rather than later. The process is slower than it was.

Simon and Laura cover this in the latest episode of the Tax Compass Podcast.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

15/10/2026

A box on the tax return asks you to enter refunds received from HMRC during the year.

The detailed notes then tell you not to, for certain types of refund.

The instruction beside the box and the guidance behind it say opposite things. Follow the wrong one and the consequences are real. Several of our clients hit this, and one ended up being chased by debt collection for money she did not owe.

Sorting it out should have been simple. It was not, and that is a story for the full episode.

The wider point is worth making, though. Most self assessment errors are not carelessness. They are people following instructions that contradict themselves, or guidance buried where nobody thinks to look.

Simon and Laura talk through what dealing with HMRC actually involves in the latest episode of the Tax Compass Podcast.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

13/10/2026

HMRC publish a tool that tells you when to expect a reply. You enter the date you wrote to them, and it returns a date.

We checked recently on an overpayment relief claim. The answer was 14 months.

The tool then advises you not to call before then.

There is no good way to relay that to a client. They ask whether you have misread it. You have not.

What makes it harder is that the wait is rarely the end of it. We have had claims sit unacknowledged for nine months, by which point a separate deadline had passed and we were arguing special circumstances to preserve a position that should never have been at risk.

You wait because HMRC have not reached their own deadline. Then a different deadline expires while you are waiting.

Simon and Laura talk through what dealing with HMRC actually involves in the latest episode of the Tax Compass Podcast.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

11/10/2026

There is a sentence we find ourselves using far too often.

"I know you are going to struggle to believe this, but..."

Clients respond the same way every time. That cannot be true. And the honest answer is that it really can be.

We are not talking about aggressive investigations or anything sinister. Mostly it is the ordinary stuff. A correction made one day and refused the next. A response time measured in months. A rule that changed without notice between one week's phone calls and the next.

None of it is dramatic on its own. Together it explains why matters that should take one conversation sometimes take three quarters of a year.

We have opened the file on this in the latest episode of the Tax Compass Podcast. Not as a complaint, but so clients understand where the time goes, and so anyone worrying about a letter from HMRC knows that most of what arrives is administrative rather than anything to fear.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

09/10/2026

Both sides agreed the problem could be solved. One side refused to solve it.

A client was being chased by debt collection for money she did not owe. The day before, an HMRC agent had corrected an identical case in minutes. The next agent said no, and when told a colleague had already fixed the same issue, replied that the colleague should not have done so.

A supervisor later confirmed it. The person who solved the problem had gone against protocol.

Look at what that decision costs. HMRC continue pursuing someone for money she does not owe, which consumes their own staff time. The client carries the stress of letters from debt collection, which is never pleasant. And an overpayment relief claim now has to be prepared, submitted and reviewed, taking months, purely to arrive back where one phone call had already got us.

Nobody benefits. Not the client, not us, not HMRC.

This is the part clients find hardest to accept, and it is why some matters take far longer than they should. Simon and Laura talk it through in the latest episode of the Tax Compass Podcast.

Listen on YouTube, Spotify, Apple, or wherever you get your podcasts. Link in comments.

LSR Partners help you pay the right tax in the right place at the right time.

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