Capital Gains Tax question

manticore1

Hi guys,

I would appreciate opinions/input on the following issue

2 years ago I got approx. €13,000 worth of Shares from my company. At the time the cost of 1 share was €125.
I sold 35 shares last week at a price €120 per share and got €4200.

Can you let me know how much capital gains Tax I need to pay (if any)?

ismat

I assume you paid income tax on the value of the shares when you acquired them.

There would be no cgt due based on these figures

tesla38

As I am using revenue online do i need to register for CGT filing?

Stratvs

tesla38 wrote: »

As I am using revenue online do i need to register for CGT filing?

If you are registered for ROS Form 11 filing then you can file payments for cgt on ROS and then file the cgt as part of your form 11.

There’s currently no provision for PAYE employees to file cgt on ROS as part of the eForm 12

Calahonda52

ismat wrote: »

I assume you paid income tax on the value of the shares when you acquired them.

There would be no cgt due based on these figures

The loss can be brought forward

Victor

In the current year you have made a small loss on the shares, so there is no capital gain, so no CGT.

There may have been an issue of Capital Acquisitions Tax (CAT) for the year you receive the shares.

There is or was a tax-efficient way for companies to give employees shares.

boring accountant

CAT would not apply as CAT applies to gifts and inheritances. Shares received in connection with your employment are considered income and are taxable in the year you received them. Unless you received them under the KEEP scheme in which case there is a different treatment.

Since you made a loss on those shares you don’t have a CGT liability. You may wish to report the loss so that you can use that to offset against any future gains.