Form 11 Query

joint 11th

I am preparing a form 11 for 2009 for a friend, however I am not familiar with the ROI self assessment system.

He has provided me with details of capital gains from Restricted Share Units & ESPP employee shares, together with receipt numbers for the capital gains tax on both.

He has also provided details of sale of share options together with a receipt of the income tax paid.


Where do these items go on the form 11?


Also- is there any relief for home loan interest paid?


many thanks

backtothebooks

Sounds kind of like my friend who's building a space rocket to head for Mars but he doesn't know too much about rocket science!!

I think there's a question of ethics here; the part about due care and skill comes to mind.

joint 11th

backtothebooks wrote: »

Sounds kind of like my friend who's building a space rocket to head for Mars but he doesn't know too much about rocket science!!

I think there's a question of ethics here; the part about due care and skill comes to mind.

well i said i will help him with it as a favour, i work with UK tax, not ROI.

If i cant get any assistance here, i will direct him to an accountants in the south.

dbran

Hi Joint 11th

This can be a very complex area and you should do a search on www.revenue.ie for share option scheme, Form RTSO or IT 72.

Basically the issue centres around whether it is a revenue approved scheme or not and whether it is a long option or short option. You will also need to know the market value of the shares at granting and exercise of the options.

Usually income tax arises on the grant, exercise or release of the option which is due and payable within 30 days using form RTSO. But if it a revenue approved option scheme no income tax will arise.

Capital gains tax arises if the shares are subsequently sold.

Hope this helps.

dbran