Tax on ESPP

P

phrk

Registered User
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Recently I purchased stock as part of an employee stock purchase program and I'm unsure what the next steps are.

I have paid the tax due using the RTSO1 form.

I assume before 31st October 2013 I will have to fill out either a form 11 or form 12 for 2012.

Which is the correct form? I have no other income other than PAYE and from the ESPP. What sections do I have to fill out?

Is there anything else I need to be aware of in relation to the tax implications for the ESPP?

Thanks in advance
 
Form 12. You only need to declare this as you already paid the tax BUT if you sell you are liable to pay CG on any gain within a month afaik. I'd say the if you filled in a form 12 for that year you would be OK though.
 
Thank you for your replies.

I'm still quite confused. Is the only relevant section in the form 12 question 66?

For example, if as part of the ESPP i purchased 1000 shares with a FMV of €10 at a 15% discount. I paid income tax, prsi and usc on the difference between the purchase price and FMV using the RTSO1 form.

I then sold the shares on the same day they were purchased for €11 so my capital gains would be €1000 which is below the threshold since I've had no other capital gains in the year.

How do I capture all this information in the form 12? Am I required to fill out any other forms?

Thanks again.
 
I think you would still need to fill in the capital gains part. I am not familiar with filling the relevant parts in but even if you have no liabilty you should return a form 12. Afaik the company now takes the ESPP tas dtraight from payroll so I don't know whether you require a form 12 any more and even if you did I don't think they would penalise you if you didn't submit one.
 
Has the Form 12 been changed?

I was attempting to fill it in today to declare the tax I paid using the RTSO1 form last year but there doesn't seem to be a relevant section any more.

Can someone help shed some light on how I go about declaring what I've already paid? I'm hoping I don't need to fill out a Form 11.
 
Looking at the Form 11 most of it including details on the first page are not relevant to me.

I am a PAYE employee with no other income except for the gain I made on the ESPP which I have already paid the tax using RTSO1.
 
Try a Form 11 E box 236 should do it. Remember that 2012 returns are for 2012 and for options exercised in 2013 a 2013 form should be used.

The fact that you only have PAYE income is unfortunately irrelevant. Without looking at the legislation you are most likely a chargeable person and, if so, a Form 11 (or 11 E) is the form to file.
 
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