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Defered tax owed,shortfall

castle · 2009-02-20 11:40:57

If you defered tax on bonus shares and still have not sold the shares after been made redundant.The defered tax is due this year.At present if I sold all the shares I would be 25K short on tax due. I would make nothing myself but still would be short 25K.I cant get a loan either to pay the 25K,Can the tax people take my…

20-02-2009 11:40am

#1

castle

Registered Users, Registered Users 2 Posts: 497 ✭✭

Join Date: April 2006

Posts: 286

If you defered tax on bonus shares and still have not sold the shares after been made redundant.The defered tax is due this year.At present if I sold all the shares I would be 25K short on tax due. I would make nothing myself but still would be short 25K.I cant get a loan either to pay the 25K,Can the tax people take my house of me.I am married with children.I feel really stressed out and sometimes just feel like selling up and moving out of this Country and sometimes think other things. Is it possible that they will accept that is all I can give them.Can anybody give me advice on this.I really need help.

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Comments

#2 22-02-2009 7:12pm

Victor

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Join Date: December 2000

Posts: 68941

You need to get some proper advice - perhaps a solicitor or accountant that deals in such matters. Also try www.mabs.ie

I hear revenue are reasonably understanding when you go to them, rather than them having to chase you.

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