CGT on sale of shares

olddoll

Frequent Poster
Messages
139
Shares were issued to me under an employee share option scheme in the early 1900's. I didn't pay anything for them. Idid nothing withthem over the years. In November 2018 I was contacted and requested to increase my shareholding up to a minimum 100 shares or, alternatively sell my shareholding. I opted to sell. Late December I received a US dollar cheque for total amount. In January I requested my bank to arrange to have cheque transferred to euro payment. This took over six weeks and cost 150 euros. The amount involved is 6,100 euros which I received two weeks ago.
I want to settle up CGT owed. I am in the process of completing form 12 for 2018. Do I give amount involved under Capital Gains and Chargeable Assets or is there a separate form in relation to CGT I need to complete?
Many thanks for any help and apologies for my ignorance.
 

EmmDee

Registered User
Messages
141
Shares were issued to me under an employee share option scheme in the early 1900's.
You've been with the firm quite a while :)

I would ask if the company has documentation from the old share option scheme. There was a time when companies could operate revenue approved profit share schemes which meant companies could distribute shares to employees which had no tax liability (CGT) as long as the shares were held longer than (I think) 3 years. The original documentation should state whether it was a revenue approved share scheme or not.

Otherwise I think if you are completing a Form 12, you include the capital gains on that form - though there are more informed people than me about tax forms on here
 

olddoll

Frequent Poster
Messages
139
Many thanks for your reply. 1990's it should be!;)

Your reply reminded me that there was an arrangement that if we held the shares for 5 years they were free of tax. However, I don't have paperwork from the time and the company is no longer based in Ireland. The administration of the scheme was dealt with by an Irish company so I will see if I can locate any paperwork from them. However, my priority is to ensure I am clear with Revenue.
Again, many thanks for your reply.
 

EmmDee

Registered User
Messages
141
Many thanks for your reply. 1990's it should be!;)

Your reply reminded me that there was an arrangement that if we held the shares for 5 years they were free of tax. However, I don't have paperwork from the time and the company is no longer based in Ireland. The administration of the scheme was dealt with by an Irish company so I will see if I can locate any paperwork from them. However, my priority is to ensure I am clear with Revenue.
Again, many thanks for your reply.
You may be surprised how helpful revenue are - give them a call and ask them if they have records of approved schemes. I have found in the past that the folks in revenue will help if they can. I would definitely go back to the administrators of the scheme. They should have the historic documents.
 
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