Taxation of (discounted) shares from employer

[asdfg]

Am I right in thinking that I will owe PAYE @ 42% (my rate) on the difference between the purchase price and revenue assigned value (i.e. 29 - 0.01 = 28.99)

AFAIK - Yes

CGT on the gain (i.e. 104-29 = 75)? at 20%

Again yes but don't forget about selling costs if any and your annual allowance of 1270. You could sell over a number of years to avail of allowance each year.

When would the amounts be due to the Revenue?

The discount in shares are deemed to be income in the year the discount was given.
Income Tax - by 31st oct after year of assessment. Not sure of form

CGT - by 31st Oct, if shares sold by 30/9 otherwise 31/1 of following year.
Write to revenue enclosing cheque with a breakdown of your liability.

 

[Darren]

Any help with my query below would be greatly appreciated.

In early 2005 I received shares (not options actual shares) from my company at a discounted price of €0.01 per share and revenue have agreed, with my employer, to a value per share at that date of €29. I have just sold these same shares for €104.

Am I right in thinking that I will owe PAYE @ 42% (my rate) on the difference between the purchase price and revenue assigned value (i.e. 29 - 0.01 = 28.99) and CGT on the gain (i.e. 104-29 = 75)? at 20%?

What about PRSI? Is it payable? Anything else I am missing?

When would the amounts be due to the Revenue? What forms do I complete?

Thanks a million for any help given.