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Live and work in UK, savings in Ireland.

  • 07-01-2016 2:25pm
    #1
    discus
    Closed Accounts Posts: 3,049 ✭✭✭


    I have a lump sum that I'd like to put into a 3 year account. I'll likely be working in the UK for the duration of that time. If I put my savings into an account in Ireland, am I subject to more or less DIRT? It's currently 41%, which is a lot of the interest wasted, hence why I'm not looking to pay more!

    Also, what are the advantages or disadvantages of leaving money in an account overseas?


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,761 ✭✭✭✭Atlantic Dawn
    M


    You normally fill in a non resident form with the provider so you pay no DIRT here but I think you are then liable for tax on the gain in your country of residency.


  • #3
    discus
    Closed Accounts Posts: 3,049 ✭✭✭discus


    Excellent. Cheers!

    Can I ask a follow up question? Are there any resources out there for figuring out the best time to change from Euro to Sterling? Or vice versa as the case may be? I was quite lucky a while ago, and made a good bit of spare change transferring a few thousand into euros, don't want to lose my gains.


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