CorkHombre
Registered User
- Messages
- 27
Hi there,
My wife is working for a company where they operate a scheme whereby you can convert your bonus to shares and hold onto it for 3 years you will avoid income tax on it (at least that is my understanding of it) I am now wondering what our tax liabilities are on this as the shares have appreciated in value
(Dec 2013) ---Purchased shares 3000 Euro
(December 2016) -- Sold shares 4500 Euro
Dividends 200 Euro per year over 3 year
This is what I think I owe
4500-2000=2500 (This is the Capital gains on the shares)
2500-1270 (CGT Tax Free Allowance)=1230 (This is how much is taxable)
Questions
-----------------------------
My wife is working for a company where they operate a scheme whereby you can convert your bonus to shares and hold onto it for 3 years you will avoid income tax on it (at least that is my understanding of it) I am now wondering what our tax liabilities are on this as the shares have appreciated in value
(Dec 2013) ---Purchased shares 3000 Euro
(December 2016) -- Sold shares 4500 Euro
Dividends 200 Euro per year over 3 year
This is what I think I owe
4500-2000=2500 (This is the Capital gains on the shares)
2500-1270 (CGT Tax Free Allowance)=1230 (This is how much is taxable)
Questions
-----------------------------
- Am I correct in saying that we owe CGT of 1230 x 30%=369 Euro
- When is it due to be paid (Oct 31 2017?)
- How do you pay it?
- We have not declared any dividends over 3 years 600 Euro how do I sort this out
- Anything I can do to lower my Tax liability (I suppose I could put it into a pension?)