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Tax bill after submitting RTSO1 and self assessment

  • 25-06-2015 5:31pm
    #1
    Pininfarina
    Registered Users, Registered Users 2 Posts: 90 ✭✭


    Looking for some advice on this please.

    I'm a PAYE employee with a company who offer stock benefits in the form of stock options.

    In 2014 I sold some options and submitted an RTSO1 immediately after with what I calculated to be my liability (if memory serves, approx 50% of the amount made from the sale of the options)

    This made me eligible for self assessment and last month I submitted my self assessment form to revenue.

    I have now gotten two letters from revenue. One stating I owe capital gains tax on the sum I earned on the shares I sold. The other stating I underpaid tax last year and owe revenue on this also (even though I'm taxed at source as a PAYE employee).

    Does anyone have any ideas on what I've done wrong here or have any advice? I assumed what I paid under the RTSO1 was all I was liable for but I see no evidence that they've taken that into account even though I confirmed that they have that on file.


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