Share Schemes, Lump Sums and Deductions

Taxable Share Schemes and Lump Sums

Taxable amount from share schemes Enter the taxable amount on the exercise of share options, on the date of exercise, or on shares obtained free or cheaply, or from employment-related securities (excluding amounts included on the P60 or P45).
Contractual amounts received after cessation of employment Enter the amount of taxable lump sums and certain income after the end of an employment (excluding redundancy and compensation for loss of a job). This includes large payments, usually in cash and excluding pensions, or benefits from a current or former employer.
Relevant benefits from Employer Financed Retirement Benefits Scheme Enter the total of any amounts received from an Employer Financed Retirement Benefits Scheme (EFRBS).
Redundancy, lump sums and compensation after exemptions Enter the amount above the £30,000 exemption limit. The amount up to the limit should be entered in Exempt amount up to £30,000.
Tax taken off not included on P60 Enter the amount of tax taken off taxable lump sums, amounts received from EFRBS, redundancy, other lump sums or compensation payments not included on the P60.
Tax taken off included on P60 Tick the box if the tax taken off taxable lump sums, amounts received from EFRBS, redundancy, other lump sums or compensation payments is included on the P60.
Non-relevant benefits from Employer Financed Retirement Benefits Scheme Enter any exemptions for the amounts entered in Relevant benefits from Employer Financed Retirement Benefits Scheme. These include payments for ill-health or disablement during service, death by accident during service, benefits under a relevant life policy and benefits excluded by regulation.
Exempt amount up to £30,000 Enter the amount up to the £30,000 limit. The amount above the limit should be entered in Redundancy, lump sums and compensation after exemptions.
Disability and foreign service deduction Enter the amount claimed as an exemption for specific payments received for physical or mental impairment, when an employment ceased, or terms changed.

Exemptions and Deductions

Seafarers’ Earnings Deduction Enter the amount of Seafarers’ Earnings Deduction. To qualify for the deduction all, or the majority, of duties must be performed on a ship. The names of all ships worked on during the tax year must be entered in Additional Information.
Foreign earnings not taxable in the UK Enter the amount of foreign earnings not taxable in the UK.
Foreign tax for which tax credit relief not claimed Enter the amount, in UK pounds, of foreign tax paid on employment income if tax credit relief is not being claimed.
Exempt employers` contributions to an overseas pension scheme Enter the amount of employer contributions to an overseas pension scheme on which tax is not paid.

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