RTSO1

[JJ5000]

Hi, I'm trying to fill out a RTSO1 because I sold some shares through a company plan. I've searched around and can't find any information anywhere that says how you calculate the "Total Liability". I also can't find how you do the currency conversion when the stocks were in USD.

 

[thos]

From [broken link removed]

Relevant Tax on Share Options (RTSO)
The tax due on the exercise of a share option is known as RTSO. You must pay RTSO within 30 days of exercising the options. You must also calculate the [broken link removed] and Pay Related Social Insurance (PRSI) due and pay this directly to the Collector General. You must complete a RTSO1 Form when making your payment. You must also complete a Form 11 for every year that you exercise options.

 

[JJ5000]

Thanks but it doesn't say anything about the percentages or how you do the currency conversion.

 

[thos]

Those rates should be as per your current income levels. So, if you're taxed at the higher rates already it's 40% income tax, 4% PRSI and 8% USC.

Not sure why currency is a problem - how much did you receive in Euro? Surely that is the amount that should be taxed.

 

[dublin67]

Are you sure you are paying the right tax? RTSO1 is only for gains/profits that you make when you exercise your share options. RTSO1 does not arise when you sell shares. If the profits/gains you make are from exercising a share option then the rate of tax is 52%.