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Sold some RSUs - I want to pay the tax but how?

  • 14-11-2007 4:19pm
    #1
    Vim Fuego
    Registered Users, Registered Users 2 Posts: 746 ✭✭✭


    Hi folks,

    Long time lurker, first time poster and as you can see, I have a question that I hope you can help me with.

    I had some Restricted Stock Units given to me by work. They vested in August 2007 and I sold them recently.

    As I now understand it, when the shares vested I should have paid 41% of the value on the day of vesting as it was basically just income from my employer. The value was about €3,000.

    I sold them recently for €5,000 so I think I should be paying 20% on the gain from the sale, minus my tax credit of €1,270.

    So if I have it right, I owe the revenue:

    3,000 x 0.41% = €1,230
    2,000 - 1,270 x 0.20% = €146

    Total = €1,376

    Is that right?

    Secondly, how do I actually pay them this money? The website is AWFUL! I've signed up for the reach services online PAYE thing but I'm just waiting for the pin, can I pay through that?

    Thank you so much for any help!


Comments

  • #2
    slave1
    Moderators, Sports Moderators Posts: 19,467 Mod ✭✭✭✭slave1


    large Irish pharma?


  • #3
    Vim Fuego
    Registered Users, Registered Users 2 Posts: 746 ✭✭✭Vim Fuego


    No, large multinational company. The figures are fictional for simplicity's sake. It's a bit of a nightmare....most of my colleagues are just planning to not pay because of the arseache of trying to get info about paying the flippin tax!


  • #4
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    Vim Fuego wrote: »
    No, large multinational company. The figures are fictional for simplicity's sake. It's a bit of a nightmare....most of my colleagues are just planning to not pay because of the arseache of trying to get info about paying the flippin tax!

    Must say I am appalled but not surprised at the dismissive and arrogant tone here vis-a-vis the Revenue by the employees of a multinational.

    The Revenue will have received an electronic feed of all the amounts paid to you and your colleagues so while they are not planning to pay.....

    :)perhaps some editorial licence on the Revenue Mission statement:

    But whenever the Revenue enters a company and they are not made welcome, they go out into the streets and say “We wipe off the very dust of your company that clings to our feet, and leave it with your. Yet be sure of this, the kingdom of PAYE and CGT is very near. I tell you, on that day it will not go as hard with Sodom as with that company”:)


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