Form 11 and Share Options

K

kildare2011

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I'm a PAYE worker and I'm filling out a form 11 to declare and pay tax on shares sold in 2010. The shares are from an approved scheme but were sold before the 3 years were up, so I'm liable for tax. No CGT required as there was no CG

I've recieved contradictory advice thus far regarding the tax liability and the tax office won't pick up the phone!!

Basically Do I pay just PAYE and Income levy on the share value or do i have to pay health levy and PRSI on top of the previous two. Any advice would be helpful.

Also, when paying the amount do I just attach a cheque to the form and just send it in.

Thanks
 
Just PAYE tax,. so what ever money you made...get 41% of that (assuming your in higher rate tax bracket) and send cheque with the form.
 
ClubMan said:
Should the tax not have been already paid within 30 days of the exercise of the options via RTSO1? Even if you still need to make a Form 11 return.
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I got a presentation in work stating this didn't apply in our case!! Don't ask why. Something to do with it being an approved profit sharing scheme. Either way, its well past the 30 days so I'll see what will happen when the form 11 goes in..
 
kildare2011 said:
I got a presentation in work stating this didn't apply in our case!! Don't ask why. Something to do with it being an approved profit sharing scheme. Either way, its well past the 30 days so I'll see what will happen when the form 11 goes in..
Click to expand...
The RTSO1 form linked above suggests that it only applies to exercises of options under an approved scheme since November 2010 but not before. I've only got experience of unapproved schemes so always did the RTSO1 lark myself.
 
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