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Where is Revenue’s Form 12?

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  • 27-02-2021 9:58am
    #1
    TheStewart
    Registered Users Posts: 2 ✭


    Hey,

    I’m building a house and would like to sell my Restricted Stock Units that my employer has been giving me over the years. I have sold vested shares and believe I need to declare and pay capitol gains. I’m a PAYE worker.

    The below link (which I can’t post because I’m new) says that it’s the responsibility of the employee to report it on disposal of shares.
    www revenue ie/en/tax-professionals/tdm/share-schemes/chapter-02.pdf
    An employee must file a return by 31 October in the year after the date of disposal. A return is required even if no tax is due because of reliefs or losses. An employee must file a Form CG1 if not usually required to submit annual tax returns; Form 12 if a PAYE worker or a Form 11 if considered a chargeable person for tax purposes.

    Where is Form 12? I can’t see it on Revenue ie in myAccount.
    Tagged:


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    #2
    ari101
    Registered Users Posts: 2,835 ✭✭✭ari101


    https://youtu.be/H_JjrFXD-xg

    They have a YouTube to walk you through it. They call it getting a Statement of Liability but you'll see about a minute in it goes to a "Complete your Income Tax Return' - doing that is completing the Form 12 online.


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    #3
    relax carry on
    Registered Users Posts: 4,072 ✭✭✭relax carry on


    TheStewart wrote: »
    Hey,

    I’m building a house and would like to sell my Restricted Stock Units that my employer has been giving me over the years. I have sold vested shares and believe I need to declare and pay capitol gains. I’m a PAYE worker.

    The below link (which I can’t post because I’m new) says that it’s the responsibility of the employee to report it on disposal of shares.


    Where is Form 12? I can’t see it on Revenue ie in myAccount.

    The online version of the form 12 tax return in MyAccount is the form you complete each year now for your statement of liability. The online form doesn't have a section for capital gains. If you have capital gains from selling your shares, you sold your shares in 2021 it's too early to file a paper/pdf version of a form CG1 or form 12 for 2021. You will file next year. However if you have a CGT liability for 2021 you must pay it this year in line with CGT norms.


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    #4
    TheStewart
    Registered Users Posts: 2 ✭TheStewart


    Based on the instructions I was continually given, I never would have found what to do. Thanks you two.


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