Form 11 Help Required

[Raul]

Hi,
I am a PAYE worker who files additional returns on shares awarded to me by my company. I haven't filled out form 11 before and can't seem to figure it out. I am filing online returns using ROS.

I've filled in 3 sections:

PAYE/BIK/Pensions > Gross amount of income from Irish employments, offices and non-Proprietary Directorships subject to PAYE - I've filled this in as per my P60 total pay

PAYE/BIK/Pensions > Shares/Securities - I've entered the total value of the shares awarded

PAYE/BIK/Pensions > Total of all PAYE Tax deducted per P60(s) / P45(s) - I've filled this in as per my P60 total net tax

Let's assume my shares awarded were worth €1,000, then I should be liable for €410 but this figure is over €2000. The only item mentioned on my P60 is PRSI contributed but I can't find a section on form 11 for this.

The other thing I've noticed is that is says my on my P60 that my tax credit is €3813 but it only calculated at €1830 on form 11 and I can't seem to change it anywhere.

Has anybody any idea where I am going wrong?

 

[mystrikeoff]

Hi Raul

Not sure about the share awards. Are you sure it's not share option scheme (ESOP) as they're treated differently.

Re your credits, you need to go into the "Personal Tax Credits" section and claim the PAYE tax credit. That brings your credits to €3,660. As for the other €153, that depends on your personal circumstances. It may be that €765 has been awarded as Schedule E expenses, giving you an additional €153 tax credits but that would seem very excessive (normally approx €100). You best get onto your local Paye Section (1890-333425 for Dublin) to get a breakdown of the €3,813.