Never had to pay taxes and looking for help

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gdn888

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Long story short: I've accrued around €800 interest from Trade Republic that I believe is subject to DIRT. More problematically, I think, I bought €5,000 worth of
Vanguard FTSE All World UCITS ETF - (USD) Accumulating from Degiro in 2021 and sold it in June 2024 for €5,950. I'm hoping there's not a problem that this was bought in 2021 (I never filled out any form to say I'd bought these shares). I've tried to do some research on how to address each of these and have read differing opinions on form 11 vs form 12. If it's useful to know, I'm a PAYE worker.

Any help would be appreciated.
 
Declaring interest income should be fairly easy, I presume, there is bound to be a place to declare it on your Form 12.

I'm not 100% sure, but again, when you submit your normal Form 12, I'm sure there must be somewhere to declare the 950 gain on the ETF. This is subject to the 41% exit tax.


No need for Form 11.
 
You need to register for self-assessment and submit Form 11 to report the ETF gain.

You cannot do it through myAccount/Form 12. There is nowhere to declare it that will apply 41% tax.

Part 27 - Sections 731-747F

www.revenue.ie www.revenue.ie

4.2.3 Units held in a recognised clearing system (such as Exchange Traded Funds)
While the fund does not have to deduct exit tax, an Irish resident unit holder will be subject to tax on income and gains arising and must self-assess and include details of income and gains in a timely filing on their income tax return to Revenue.
 
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Thanks @Corola

I presumed (mistakenly) that given how common ETFs are, there is bound to be a way to declare the gain in the Form 12.

IMHO, this is another example of the anti-shares tax regime in Ireland.
 
Form 11 is huge. I have never done form 12. I had to do form 11 for years now for buying shares through work, ESPP. The first time it takes a lot of figuring, most sections you won't be filling in but its easy to miss claiming some of the employee/ personal credits and figuring where to put what etc.
 
@TomOC Exactly, for that reason I’d recommend to pay once for accountant, learn how they fill it and then do-it-yourself years after (form will also prepopulate things).
 
Thanks for the replies. So form 11 for the ETFs. And form 11 for the DIRT from Trade Republic too? Would anyone be able to estimate the cost for an accountant to do this or even have recommendations for one?
 
The country is bonkers if people have to pay an accountant to declare 1,750 of extra income.

Form 11 is long, yes, but I have done them before.

It's a pain the neck, but doable on your own.
 
@PoundMan
I found this course covered everything and leaves you confident to file your own tax returns each year without needing to pay an accountant:

I suspect the course referenced is relevant to ‘My Account’ only (Form 12) ??
 
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