How to pay tax on ETF ?

All,

Last year in September I got rid of an accumulating ETF bought 2 years ago with Interactive Brokers and made a gain of roughly 4000€
I normally don't do a tax return since my only income for many years has only been my paycheck so sorry for the basic question posted......
I need now to pay 41% on that and I'm wondering if I'm obliged to register for ROS and return form 11 or 12 (I need to learn how to do it frst or get an accountant) or is there any way to declare the gain and pay from Paye online. I had a look and the closest section in Paye Online is this below. I don't know if I can do it from here. For example if I put Offshore Investment ETF in the Source of Income and 4000€ on the gross amount field will it be taxed at 41% rather than 52% ? Is this a valid option ?


Thanks a lot in advance for the feedback.
Henning

Try messaging Revenue via myAccount.
Maybe they can process it that way.
If not, then you'll probably have to do it via ROS/Form 11.

Thanks for the quick reply. I will certainly try, I didn't know it was an option, so thanks for that. The thing is that for Form 11 and 12 I will probably need an accountant since I have never done them before, and it will cost maybe a grand, added to the 41% tax if you think it's not even worth investing the hard earned money. The only way to get wealthy is to be on the dole (and have a cash job like many up here in Donegal)

Are you sure that you need an accountant to work out what 41% of any gain is and fill in a form 11 or 12?

You need to fill out a Form 11. Line 322

Out of curiosity 4000 euro return, that seems quite good given it was only invested for 2 years, what was the percentage gain?

Thanks Steven I will look into it. Joe, I bought it in January 2020 and sold it in September 2022 so in reality it is more than two years. I put about 75k so the return was a bit over 5%. Clubman, it's not that I can't calculate the 41% of 4000 but I don't believe I could get away with submitting Form 11 and fill out just line 322, I think I need to fillout the fields related to my Paye income as well so I would need to understand how to do it as I'm not familiar with the process since with Paye only income the company has been doing it for me in the last 15 years or so and haven't done any tax returns.

joe sod said:

Out of curiosity 4000 euro return, that seems quite good given it was only invested for 2 years, what was the percentage gain?

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~5% gross/3% net over 2 years isn't great.

Henning G said:

Joe, I bought it in January 2020 and sold it in September 2022 so in reality it is more than two years. I put about 75k so the return was a bit over 5%.

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Henning G said:

Clubman, it's not that I can't calculate the 41% of 4000 but I don't believe I could get away with submitting Form 11 and fill out just line 322, I think I need to fillout the fields related to my Paye income as well so I would need to understand how to do it as I'm not familiar with the process since with Paye only income the company has been doing it for me in the last 15 years or so and haven't done any tax returns.

Click to expand...

You should try messaging them via myAccount first as I suggested. But if you have to fill in a form 11 then it's not that difficult since most of it will be irrelevant to you. And you can practice using ROS Offline.

Yes you are right it wasn;t a big return. It would have been very good if I had sold it a year ago, but I kept it, still it's not a loss. It will help to pay for the summer holidays. Anyway thanks indeed also for the new link. I will try the ROS offline simulator first. Also I will message them via myAccount and see what they say. The worst thing that may happen is that they say that they cannot do it taht way so I will then return form 11. Thanks!