Am I being charged an extra 4% PRSI above & beyond the 52% RTSO tax (40% IT, 8% USC + 4% PRSI) I already paid for ESPP in 2022, i.e. 56% total?
Context:
PAYE employee, availed of ESPP in 2022 so I'm classed as a 'chargeable person' & submitting Form 11 for 2022. For the gain on the discount allowed by my employer, no RTSO tax is paid through my employer.
In 2022; I paid my RTSO (52% of gain) to Revenue within 30 days & submitted RTSO1 form.
Now, in Form 11 for 2022, under PAYE/BIK/Pensions (2), there's the section 'Share Options exercised, released or assigned in 2022'.
I filled in the fields there for 'Enter total chargeable amount' [A] & 'Enter the amount of RTSO paid' .
Issue:
However, on the Calculations page under 'Calculations - Income Tax' it's added the 'Share Options-Self' figure [A], so it's increasing my total income by that amount & therefore my taxable income.
Plus, under '3.1 Computation - PRSI (self)' it shows the 'Share Options-Self' figure, with a 4% PRSI charge on that figure. That 4% figure is added to the section '4. computation of final liability' as 'PRSI due self' which is added to the 'Total amount of tax chargeable for this period'. It deducts the 'Relevant Share Opt Tax' but that's beside the point.
Does this look like I'm effectively being charged 4% PRSI twice for ESPP? i.e. an additional 4% PRSI on top of the 52% RTSO I already paid last year?
If so, should I submit an Expression of Doubt in the Form 11 & meanwhile try to phone Revenue self-assessment helpline tomorrow (unlikely to get through, yeah I know I left it late) to get their guidance?
Context:
PAYE employee, availed of ESPP in 2022 so I'm classed as a 'chargeable person' & submitting Form 11 for 2022. For the gain on the discount allowed by my employer, no RTSO tax is paid through my employer.
In 2022; I paid my RTSO (52% of gain) to Revenue within 30 days & submitted RTSO1 form.
Now, in Form 11 for 2022, under PAYE/BIK/Pensions (2), there's the section 'Share Options exercised, released or assigned in 2022'.
I filled in the fields there for 'Enter total chargeable amount' [A] & 'Enter the amount of RTSO paid' .
Issue:
However, on the Calculations page under 'Calculations - Income Tax' it's added the 'Share Options-Self' figure [A], so it's increasing my total income by that amount & therefore my taxable income.
Plus, under '3.1 Computation - PRSI (self)' it shows the 'Share Options-Self' figure, with a 4% PRSI charge on that figure. That 4% figure is added to the section '4. computation of final liability' as 'PRSI due self' which is added to the 'Total amount of tax chargeable for this period'. It deducts the 'Relevant Share Opt Tax' but that's beside the point.
Does this look like I'm effectively being charged 4% PRSI twice for ESPP? i.e. an additional 4% PRSI on top of the 52% RTSO I already paid last year?
If so, should I submit an Expression of Doubt in the Form 11 & meanwhile try to phone Revenue self-assessment helpline tomorrow (unlikely to get through, yeah I know I left it late) to get their guidance?
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