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Payment of tax on shares
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16-06-2021 3:29pm#1I recently sold some shares that I was gifted in work and only recently realised that I now have to submit a payment to revenue (collector general) for these.
I found the form online and I think I am on day 29 out of 30 and I am really concerned that they won't receive the payment on time. I am in the process of buying a new house and I'm concerned a late payment might put me in a bad light. Does anyone know for sure?
Also seems to be that I need to pay 52% of what I earnt on the shares ?
I am awful when it comes to this kind of stuff and I realise I need to be better informed in future
:( 0
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Thank you so much. I'll try to understand what the page says
Also not sure if it is different or not but what I sold were actually 'stock options'
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I recently sold some shares that I was gifted in work and only recently realised that I now have to submit a payment to revenue (collector general) for these.
I found the form online and I think I am on day 29 out of 30 and I am really concerned that they won't receive the payment on time. I am in the process of buying a new house and I'm concerned a late payment might put me in a bad light. Does anyone know for sure?
Also seems to be that I need to pay 52% of what I earnt on the shares ?
I am awful when it comes to this kind of stuff and I realise I need to be better informed in future:(
There are multiple share schemes in operation each with its own taxation issues. There can be two taxable events namely Income tax on the exercising of the shares and potentially CGT on the later disposal of the shares. The link below provides links to the Revenue share schemes manuals but ultimately it's only your employer who can tell you what scheme you are in and it's taxation issues. Have you checked the documentation you were provided with by your employer for involvement in the share scheme? Have you asked your employer what exactly you need to do and how you calculate your taxable gain for income tax if it wasn't already sorted through payroll.
https://www.revenue.ie/en/tax-professionals/tdm/share-schemes/index.aspx0 -
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