CGT & Income Tax

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Can anyone tell me if you calculate CGT on gain - income tax or calculate it prior to income tax being removed. I hope this makes sense. I sold shares that are libable for both.
 
Do you mean shares acquired at a discount so income tax applies (on the market value at the time they were exercised/acquired minus the discounted price) and CGT also applies (on the disposal price minus the market value at the time they were acquired/exercised)? Say you acquire shares through an employee stock purchase plan (ESPP) as follows:

Discounted exercise price: €8
Market value at the time of exercise: €10

You hold onto them for a while and then sell them for €15

This means that you owe income tax (0%, 20% or 42%) on €10 - €8 = €2 per share and CGT (20%) on €15 - €10 = €5 per share (less the usual CGT allowances etc.).

Make sense?
 
Income tax will be due on any dividend income you received. CGT will be due on the gain on disposal of the shares.
 
Thanks Tenacious and clubman. I had some shares that I got as a company bonus over the last couple of years. These were sold this year. As far as I know I am liable for income tax on the ones I haven't held for 2 years. So say I have

100 shares locked in value at 3000
Current value at 10,000
I calculate CPT on 10000-3000 and calculate income tax on the 3000

Is that correct?
 
I'm only really familiar with the sort of ESOP/ESPP schemes operated by US multinationals and the tax implications arising to be honest. I'm not sure if this is some other sort of scheme with different tax treatment. Sorry I can't really help further.
 
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