Ireland: Guidance on 2020 employee share award returns, reporting

Guidance on 2020 share incentive arrangements and associated reporting obligations

Guidance on 2020 share incentive arrangements and associated reporting obligations

Irish Revenue released guidance concerning share incentive arrangements and associated reporting obligations.

One release sets out updates made to the share scheme manual, to reflect the new reporting requirements for unapproved share arrangements and also concerning awards when sell-to-cover rules apply.

The second release concerns employee share awards and the returns to be completed by employers. The form sets out the information to be returned for employees and directors in the company in relation to all unapproved employer share awards and that also must include cash payments that derive their value directly or indirectly from shares. Prior to this release, there was no prescribed format for the reporting of unapproved equity arrangements other than for share option-related transactions. The filing will apply retrospectively for the 2020 tax year with the deadline for the 2020 tax year being 31 August 2021.  

Read a June 2021 report prepared by the KPMG member firm in Ireland


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