form12 : relevant tax on a share option

P

psinno

Guest
Hi,

I'm starting to fill out my form 12 but I'm not sure where is the correct place to fill in the details related to tax paid on stock purchased below market value from my employer . Any ideas?


Thanks
Peter
 
I'd put it in this section:

7- BenefitsfromEmployments/Non-ProprietaryDirectorships
 
psinno said:
I think that field will already be filled with my employers prsa contributions.
Click to expand...
You can always attach additional explanatory information to a Revenue form if there is not enough room for your specific data.

Are you referring to income tax already paid via Form RTSO1 on the discounted share price?
 
psinno said:
I think that field will already be filled with my employers prsa contributions.
Click to expand...

You enter the total amount (i.e. all sources of income in the category) in the box. As Clubman says, you can always attach an explanatory note.
 
ClubMan said:
You can always attach additional explanatory information to a Revenue form if there is not enough room for your specific data.

Are you referring to income tax already paid via Form RTSO1 on the discounted share price?
Click to expand...

Yes, that is what I'm referring to.
 
In form 11 share options are explicitly mentioned so maybe just submit that instead, thats what I have done based on request from Revenue
 
Form 11 is a self assessment return. If your nominal income from discounted share options (or other sources) is above c. €3,175 (?) then Revenue treat you as an assessable person and you go on self assessment for a while after. That might be why they asked you to do a Form 11 rather than Form 12 return. If you are PAYE and not explicitly asked to return a Form 11 then I would stick to Form 12 (with explanatory annotations/attachments if necessary) otherwise things may get confusing.
 
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