A reminder to readers that Finance Bill (No.2) 2023 introduced an amendment to the collection and reporting requirements for taxes related to share options. The taxation of a gain realised on the exercise, assignment or release of share options no longer falls under individual self-assessment. Instead, taxes must be accounting for through the payroll system. This means that employers will be responsible for collecting income tax, USC and PRSI from employees on share option gains and remitting those taxes to Revenue as part of the payroll process. This treatment will apply to gains realised on or after 1 January 2024.
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