Comments on: How to pay tax on Employee Share Purchase Plans in Ireland

By: Meagan

Meagan — Sat, 26 Mar 2022 15:33:51 +0000

In reply to Rebecca. Hi Rebecca, Best thing to do would be to ring Revenue and ask them directly. as you are forthcoming they may agree to lower terms

By: Rebecca

Rebecca — Mon, 07 Mar 2022 14:38:01 +0000

Hi 🙂 Thank you for this!
I am late filling out my RTS01 form for stock I purchased at a discount with my ESSP.
Do you know how I calculate how I would calculate how much I owe now? I saw on revenue that the interest rate is 0.0274% per day, so should I calculate the amount of tax I owe X days overdue X 0.0274% ? Or is there some other fee I should be paying?

By: Meagan

Meagan — Sat, 05 Mar 2022 10:01:10 +0000

In reply to Fiona. Good catch thanks for noting. I tried updating but meant I had to update the calculations across the whole article so I've just made a note that for the CGT example I used a different FMV. The example still works.

By: Fiona

Fiona — Fri, 21 Jan 2022 16:25:40 +0000

Hi Meagan, I think that your CGT calculation is incorrect as the FMV at the date of exercise was 150 USD in your example, not 200 USD as per your CGT computation.

By: Meagan

Meagan — Tue, 30 Mar 2021 16:54:56 +0000

In reply to Bruno Ambrozio. Thanks Bruno, I've updated with that clarification now :)

By: Bruno Ambrozio

Bruno Ambrozio — Mon, 29 Mar 2021 19:57:39 +0000

Hey, thanks very much for another great and useful post! I didn’t know myself about it and I had some minutes of panic as I have never paid nor filled this RTS01, and I have ESPP from my company.
However, I digging over my company’s intranet and I found out that they are looking after it for us. Thus, I think worth to mention that some companies are dealing with the RTS01 through the payroll, and the employee don’t need to worry about it themselves (they have to worry about dividends taxes and CGT, of course). Here’s what my company says in our ESPP info page: “(…) the tax on the discount of ESPP shares will be collected directly by (company name) Payroll and submitted to Revenue – as the 5% discount is now also liable for PRSI and USC payroll will also make this deduction. Therefore Tax, PRSI and USC on the 5% discount received on the purchase price of ESPP shares will be sent directly to Revenue on your behalf and you will no longer have to submit Form RTS01”.
Therefore, before paying the taxes through RTS01, make sure your company has not already done it for you 🙂