Paying Tax on Shares received for "free"

wegga1

Hi All,

I received shares from my company (not share options - part of a bonus which vested recently). I am assuming that I should pay tax on these but as a PAYE employee I have never done a seperate return so I am not sure what forms need to be completed or what rate to pay at.

Any help would be much appreciated !
thanks

dbran

Hi

As far as I know you are only taxed on these shares when you sell them and realise a gain. ie CGT


Kind Regards



dbran

wegga1

Thanks, do you know what forms I need to complete when I sell them or can I do that online?

dbran

On your income tax return or if you are not obliged to file a tax return, on form cg1.

But the due dates of payment are

1/1/09 to 31/11/09 - pay 15/12/09

and 1/12/09 to 31/12/09 - pay 31/1/10.

Kind Regards

dbran

Beasty

dbran wrote: »

Hi

As far as I know you are only taxed on these shares when you sell them and realise a gain. ie CGT


Kind Regards



dbran

No, they are subject to income tax, based on the value at the time they vest (assuming you are Irish tax resident, or the award was derived from Irish employment). This value then becomes the base cost for CGT going forward

Sand Wedge

Think these shares should have been treated as Benefit In Kind as you are a PAYE employee.

Mr. Incognito

Unless the are under a Revenue Approved scheme- Income tax is payable within 30 days on a RTSO Form (Relevant Tax on Share Options)

This Income Tax is then an allowable cost for CGT on disposal- contact the administrator of the scheme for details.