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tax on sale of shares given to employee by company?

  • 25-02-2012 8:02pm
    #1
    NewCar2012
    Closed Accounts Posts: 28 ✭


    hi folks quick question in relation to selling shares that were given to me by previous employer which i have the share certs for..


    when i got these they were initially at €1.15 value when transferred to my name..

    it mentions in the documentation received with the shares that

    " as the shares have been held in trust for 3 years you will not be liable for income tax or the income levy on the sale of the shares , however
    you should be aware that capital gains tax CGT may arise if you sell your
    shares."

    if i sell them all below the €1.15 then i take it that no capital gain has taken place, and no CGT is due, and that only if i sell them above the €1.15 price is CGT due?

    am i correct in this thinking?


    thanks


Comments

  • #2
    delux
    Registered Users, Registered Users 2 Posts: 153 ✭✭delux


    Yea that's right... but even if you sold them above 1.15 there is an exemption for the first €1270 so you'd be to be in profit above that for CGT to apply really.


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