We are due profit share in here shortly for the year 2005. We have the option of purchasing company share , which we hold for a retention period of 3 years , which is a prudent move on the tax front .
However , there are a number of us taking a voluntary redundancy package - leaving Sept of this year . The company are now telling us that because we will not be employed here during the 3 year retention period we are not entitled to purchase shares and we are getting cash instead taxed to the hilt . They are insisting that this is a revenue ruling .
Am trawling through the revenue website at the mo. to confirm this .
Would any one know off hand if this is indeed the case ? Remember the profit share relates to 2005 and we will be leaving company due to voluntary redundency . Any help greatly appreciated !
However , there are a number of us taking a voluntary redundancy package - leaving Sept of this year . The company are now telling us that because we will not be employed here during the 3 year retention period we are not entitled to purchase shares and we are getting cash instead taxed to the hilt . They are insisting that this is a revenue ruling .
Am trawling through the revenue website at the mo. to confirm this .
Would any one know off hand if this is indeed the case ? Remember the profit share relates to 2005 and we will be leaving company due to voluntary redundency . Any help greatly appreciated !