Is it 6000 - 3175 = 2825-1270 (CGT allowance) = 1555 x 20% = 311 ?
You mean that there was no discounted price involved in the purchase? Many (most?) Employee Share Option Plans involve offering shares for purchase at a discounted price to the market value which implies some income tax liability. Perhaps your employer's scheme does not?harvey said:There is no income tax payable.
If you haven't sold them yet then transfer enough to your spouse's name to use his/her annual CGT allowance if not otherwise used. This should cost nothing (or a nominal amount) and no stamp duty applies.Assume married and no allowances used.
ClubMan said:You mean that there was no discounted price involved in the purchase? Many (most?) Employee Share Option Plans involve offering shares for purchase at a discounted price to the market value which implies some income tax liability. Perhaps your employer's scheme does not?
If you haven't sold them yet then transfer enough to your spouse's name to use his/her annual CGT allowance if not otherwise used. This should cost nothing (or a nominal amount) and no stamp duty applies.
If you have any previously incurred capital losses you can offset these against your CGT liability.
If that was the case then income tax on the BIK (and possibly PRSI?) attributable to the gain from the discounted price was due at the time (30 days after exercise) unless other rules applied. See here.harvey said:I understand that the original purchase price was discounted by about 10-15%.
How do you hold the shares (certificates, electronically etc.)? In general it should be simply a case of getting the relevant transfer (CREST in the case of ISE/LSE quoted shares but presumably something else on US exchanges) from the company, its registrar, a broker or the stock exchange and effecting the transfer. There may be a nominal administration fee but there should be no transaction charges or Irish stamp duty. See here.How would one transfer to spouse ? Get a cert. and then transfer ?
If you have any previously incurred capital losses you can offset these against your CGT liability.
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