Form 1 or Form 11?

DhalsimHibiki · 2015-10-22 11:20:33

Hello, I am an employee and pay taxes through PAYE. I exercised stock options in 2014 (which were also taxed through PAYE on my payroll) and apparently I have to fill in a form until the end of this month. My question is this: Do I have to fill in Form 11 or Form 1? Form 1: Tax Return and Self-Assessment for the year 2014…

22-10-2015 12:20PM

#1

DhalsimHibiki

Registered Users, Registered Users 2 Posts: 44 ✭

Join Date: October 2009

Posts: 37

Hello,

I am an employee and pay taxes through PAYE. I exercised stock options in 2014 (which were also taxed through PAYE on my payroll) and apparently I have to fill in a form until the end of this month.

My question is this:
Do I have to fill in Form 11 or Form 1?

Form 1:
Tax Return and Self-Assessment for the year 2014
(relating to taxes on income and capital gains)

Form 11:
Tax Return and Self-Assessment for the year 2014
(relating to taxes on income and capital gains for self-assessed individuals)

Basically, I don't know if I am self-assessed or not. I assume I am not as I am a PAYE employee but then again I am not sure why I have to make any assessment in the first place.

I would really appreciate any help in this matter.

Cheers

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Comments

#2 22-10-2015 12:43PM

gerrybbadd

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Join Date: January 2008

Posts: 9587

You can be a PAYE Employee & self assessed at the same time.

Would it be a CGT Return perhaps?

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#3 08-11-2015 01:21PM

santino

Registered Users, Registered Users 2 Posts: 149 ✭✭

Join Date: March 2008

Posts: 124

Hi DhalsimHibiki,

Exercising Stock Options make you an self-assessed person. A Form 11 needs to be filed. Income Tax etc. is payable, not Capital Gains Tax.

PM if you like.

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