Employee PRSI on Share Options – Change in Practice from 1 July

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.

New Business Regulation Website

The Department of Jobs, Enterprise and Innovation has recently launched businessregulation.ie, a web portal aimed at reducing the burden of red tape on business by bringing together in one place clear information on regulations imposed by over 30 Government bodies. Businessregulation.ie was developed to address a clear need identified by business for a single source of information on regulatory requirements; by providing users with over 150 separate links to information, guidance and contact details, the portal reduces the need to trawl through multiple pages on different websites in search of the right information.

 

Website address:  www.businessregulation.ie/