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.