The Sunday Times: Money Q&A: How are unapproved discounted share option schemes taxed?

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According to Joanna Murphy, Chief Executive of Taxback.com,  any income from share dividends is taxable and should be declared to Revenue using a form 11 or form 12 tax return. A credit for any tax withheld at source could be used against your tax liability. If you decide to sell your shares, capital gains tax (CGT) may be due, at 33%. The amount liable would be the difference between the proceeds and the acquisition cost. There is an annual exemption of €1,270, which could reduce the CGT bill.

https://www.thetimes.co.uk/article/money-q-a-how-are-unapproved-discounted-share-option-schemes-taxed-hnvzz0hfw