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Paying Tax On A Bonus

hucklebuck · 2012-10-14 12:17:43

I was wondering if someone could help me please. In my last job I was given a retention bonus in the form of shares in the company, this was a bonus I would get if I stayed in the job until I was made redundant. I left the company and got a redundancy payment and then they paid the retention bonus which I received in whole…

14-10-2012 12:17pm

#1

hucklebuck

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I was wondering if someone could help me please.

In my last job I was given a retention bonus in the form of shares in the company, this was a bonus I would get if I stayed in the job until I was made redundant. I left the company and got a redundancy payment and then they paid the retention bonus which I received in whole from the share company.

Obviously I now have to pay revenue money but I don't know how to go about this as I have always been a PAYE employee. I will be paying tax at the top rate and presumably USC and PRSI

I would appreciate if someone could advise me of the most tax efficient way of paying this to revenue.

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