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Tax reporting and CGT
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27-03-2020 12:38pm#1Hi all,
My company has awarded me a number of shares (RSU's) and I am getting very confused on what I need to do. Would appreciate some advice please.
As I understand it, it work as follows. Lets assume I was awarded 1000 shares.- Upon vesting the shares are valued at €100
- Tax is paid (sell to cover) at the marginal rate of 52%, leaving me with 480 shares
- This is done by my employer, shows up on my payslip and there is noting further I need to do
Sometime later I decide to sell my shares, the shares are now worth €110.- I sell the shares and make €52800
- That is a capital gain of €4800
- I must pay €1584 in CGT (33%)
Now the bit where I get confused ...
Can I pay this easily online ?
My shares will actually vest every 3 months, can I pay CGT every time I sell or do I need to do it in one lump sum at the end of the year ?
Do I need to document each time I pay CGT and then report it in October under 1 filing or file each time I make a payment? Can I do that online ?
Do I need an Tax adviser ?
Thanks0
Comments
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Hi all,
My company has awarded me a number of shares (RSU's) and I am getting very confused on what I need to do. Would appreciate some advice please.
As I understand it, it work as follows. Lets assume I was awarded 1000 shares.- Upon vesting the shares are valued at €100
- Tax is paid (sell to cover) at the marginal rate of 52%, leaving me with €48000
- This is done by my employer, shows up on my payslip and there is noting further I need to do
Sometime later I decide to sell my shares, the shares are now worth €110.- I sell the shares and make €52800
- That is a capital gain of €4800
- I must pay €1584 in CGT (33%)
Now the bit where I get confused ...
Can I pay this easily online ?
My shares will actually vest every 3 months, can I pay CGT every time I sell or do I need to do it in one lump sum at the end of the year ?
Do I need to document each time I pay CGT and then report it in October under 1 filing or file each time I make a payment? Can I do that online ?
Do I need an Tax adviser ?
Thanks
Yes, and a calculator too.0 -
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