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Nope - see www.taxcalc.eu. Irish income tax was never 45% in the recent years. It was 42% 2001-2006, 44% 2000/1, 46% 1999/2000, 48% before that etc.Was the higher rate of tax 45% 6 years ago?
Are you sure about your calculations there? They don't make sense to me. In most cases of Employee Share Purchase Programmes (ESPPs) you put money away over a certain period of time and then at the end of some period (e.g. 6 months) you can purchase shares at a discount - often 15% below the lower of the market value at the beginning or end of the purchase period (or maybe at a price set earlier set at some other point in time). So you get a certain number of shares based on how much you have saved and what the discounted purchase price is. Normally you are liable for income tax on the discount involved but in some cases (Revenue approved schemes?) there may be an option to avoid this by holding the shares for a period of time. However once you have bought the shares you are investing/speculating and subject to normal market fluctuations in the price of the shares. It would be extremely rare (to the point of never happening!) that there would be any guarantee on the price at which you will be eventually sell the shares for. After purchasing the shares you are liable for CGT as normal on disposal if the eventual disposal price is above the market value at the time of acquisition.Paid 2400, tax relief 46% so bought for roughly 1400. sold for 600, loss 800 plus interest for 1400 over 5 years.
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