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Questions about opening account up North

  • 06-12-2010 12:04pm
    #1
    mcbert
    Registered Users, Registered Users 2 Posts: 460 ✭✭


    Hey, I have some savings, and want to spread the risk around a bit, so I'm thinking about opening a sterling bank account up north. From other threads here, it sounds like they will accept a southern address.

    So for anyone how has already donr this, is it as easy as dropping into any bank, bringing a few bits of id & proof of address etc, and filling out a form?

    And do I need to notify Revenue here that I've done this? Or file a tax return for any interest earned? Would I have to do this if I opened a current account paying little or no interest?

    I'm not trying to avoid tax, just hedge my bets against a collapse in the euro and/or Ireland being kicked out of it, and savings in the state being converted to a worthless 'Punt Nua' as others have called it.

    Now that I think about it, I suppose whenever I do finally withdraw whatever I lodged, if I make anything on exchange rate differences, I will have to pay capital gains tax on that...

    Thanks.


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