Using ROS.ie to pay share option income tax Form RTS01

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Deisce

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Hi I am confused by ROS system. Can anyone help me? I am a PAYE worker who got income from selling shares in Nov 14 and again in April 15. I have two questions on this:
  • do I put the tax due now in as preliminary tax for 2015 on ROS.ie in order to pay it within 30 days. If so do I still need to fill out the RTS01 form too and send it in as there is no option for uploading this form on ROS.ie
  • as I am using my payroll to pay tax, usc and prsi , do I just file a 2014 tax return for the share income itself or do I need to get myself and my wife's P60 and enter all my PAYE income tax, usc and other details too? If so I think I need a tax advisor!
 
Ok I have an answer to first one. You can't. You need to do by paperwork and use a bank transfer.

Any answer on the second one?
 
You pay tax on share options on form RTSO1 within 30 days of exercise of options. You will also need to file a Form 11 for 2014 and 2015 on the basis that you exercised share options in each of these years and are thus a chargeable person for that year. The fact that you have paid your tax through the RTSO system does not exempt you from having to file a tax return. A chargeable person is a person who is required to file a tax return for a particular year and pay tax directly.

For filing just one tax return I would use a paper one and let the Revenue calculate the tax due. From memory it needs to be filed before 30th August 2015 for the 2014 calendar year. If you file it electronically (which can be tricky) you have until 31st October and a later extension if you pay and file. There is lots of terminology that you don't need to know (unless you are very interested). When you haven't exercised any share options in a particular year make sure that you de-register as the Revenue will keep expecting a tax return to be filed until you tell that you are no longer a chargeable person.

My advice would be keep life simple, save yourself tax adviser fees and file a paper Form 11 now. You will need to include all your income and that of your wife. Best of luck.
 
I have a similar problem. I gained from stock options in June and submitted a RTS01 form. That was fine and the payment etc. was accepted by revenue. However, I then received a letter from revenue telling me that I needed to register for Revenue Online and submit any future payments through that system. However, I have the same problem in that I can't see where I can do this.

Has anybody submitted stock option related income tax through ROS?

Thanks....
 
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