Revenue eBrief No. 241/21
31 December 2021
Share Schemes Manuals
A number of updates have been made to the Share Schemes Tax and Duty Manuals. The main changes are highlighted below.
Chapter 2 – Restricted Stock Units (RSUs)
- Additional information is included in section 2.6 regarding the exemption from Employer’s PRSI.
- Section 2.7.4 is updated in respect of the temporary filing concessions due to COVID-19 for cases where real-time foreign tax credits are claimed.
- Confirmation of the optional RSU reporting fields is included in section 2.8.
- A link to Chapter 15 – Filing Guidelines for Share Scheme Reporting is included.
Chapter 3 – Unapproved Share Options
- The examples contained throughout have been refreshed.
- A link to Chapter 15 – Filing Guidelines for Share Scheme Reporting is included.
Chapter 8 – Restricted Shares
- The examples contained throughout have been refreshed.
- Section 8.5 is updated to confirm changes to employer payroll obligations where additional tax is due on the lifting or altering of blocking/clog periods by the employer.
- Reference is included to the United Kingdom as an allowable location for a trust and trustees used for the retention of restricted shares, within the meaning of section 128D TCA 1997 – as provided for in the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020.
- A link to Chapter 15 – Filing Guidelines for Share Scheme Reporting is included.
Chapter 9 – Key Employee Engagement Programme (KEEP)
- Sections 9.1 and 9.3.2 are updated to reflect the amendment to the definition of a qualifying share option, including changes to the award criteria.
- Due to the name change, references to the”Enterprise Securities Market” are amended throughout to the “Euronext Growth Market”.
- References to “a similar or corresponding market of the stock exchange” is amended to include the United Kingdom – as provided for in the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020.
Chapter 15 – Share Scheme Reporting (SSR)
- Examples of common filing issues/errors in respect of form ESA have been included – see section 4.3.10.