Yes, this was my understanding.The 52% RTSO includes 4% PRSI (along with 8% USC and 40% income tax).
To confirm, which form are you referring to; RTSO form or Form 11?You should be charged 4% PRSI, 8% USC and 40% income tax on the share options on the form
Except it doesn't balance out to zero, as I believe it should. It does deduct the 'Relevant Share Opt Tax', which is the figure from 'Enter the amount of RTSO paid' (i.e. €52).and that should be balanced by the 52% RTSO you've already paid
Thanks S class. So I did just that. Calculation 1: with Share Options fields populated. Calcuation 2: with Share Options fields left blank.What I would do is firstly complete the form 11 with the share options included. Then do the calculation and check at the end of the form 11 to see what amount of tax is due.
Then remove the share options and redo the calculation and again check the tax due.
The difference between the two tax due amounts is the total tax you are being charged on your share options.
Yes, I (& many others it seems) really wish Revenue would add some build in some self-help or example calculations into the IT Form 11. It would undoubtedly save Revenue a tonne of enquiries (online & by phone), labour costs & even possibly increase tax take.You are on the ball there. I submitted that post and then reread your post and thought I was not improving your situation, so I deleted it.
Good to know it was helpful.
I always find some of the calculation methods in form 11 impossible to figure out.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?