Looking for a personal tax advisor in Meath/Kildare or Dublin area

W

westgate

Guest
Hi

just wondering if anyone can reccommend a tax advisor.
We want to sort out personal tax from some share options and stock etc.

Any idea of what to expect in terms of fees?

We are based in Enfield so preferably one in either Meath or Kildare but we will travel to Dublin if needs be.

Thanks in advance

Amy
 
Plenty of people here with experience of tax implications of share options, it's not that hard to handle this yourself (especially if you are accustomed to doing your own tax returns anyway), in the event that you have difficulty finding a suitable advisor.

Basically, I think the position is that tax is payable on the "benefit in kind" value of the options, i.e. the difference between the market value and the option price at the time of exercising the option. With a direct stock grant, tax is payable on the entire value of the grant at your marginal tax rate.

Others here may be more specific if you care to post the details.
 
westgate

The Irish Taxation Institute of which qualified tax advisors are members of have a list of qualified advisers on there website here is the link:



your advisor would need to know more about the stock/share options you got westgate as there is two main types revenue approved and revenue unapproved, both have different taxation treatment

in an unapproved scheme when such an option is exercised, income tax is charged on the difference between the option price and the market value of the shares on the date the option is exercised. A CGT liability may arise on the subsequent disposal of the shares. The allowable cost of the share for CGT purposes is their market value at date of exercise of the option
The exercise of an option now clearly brings the employee within the self-assessment tax provisions. This will impose automatic preliminary tax implications on 31 October and a personal tax return filing requirement. Failure to meet with these obligations will give rise to automatic surcharge and interest charges. The onus lies with the employee to file and pay in a timely manner

Under an Approved share option scheme, employees will not be chargeable (as is the case with an unapproved scheme) to income tax on the exercise of the option, but will instead be chargeable to capital gains tax on the full gain (i.e. the difference between the amount paid for the shares and the amount received) on a disposal of the shares.

as you can see its rather complex so its best to get formal tax advise especially in there is a considerable amount of money invloved
 
Thanks - have checked the site and there are two reasonably close by - have setn a query regarding fees so will be interesting to see what it would work out as!

Thanks
 
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