From 1 July 2012, employees and former employees are obliged to account for employee PRSI, in addition to tax and USC, on share option gains in their Relevant Tax on Share Options (RTSO1) returns.
As members will recall, since 1 January 2012, employee PRSI has been payable on all share option gains. However, employers have withheld PRSI through the payroll. Section 9 of the Social Welfare and Pensions Act 2012 transferred responsibility for accounting for the PRSI to the employee with effect from 1 July 2012.
For more details contact our office.
