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Tax on tax free BTWEA

shugy · 2016-09-24 12:24:17

Hypothetically question but what if one accumulated 20k while on the BTWEA scheme. He's tax free on these earnings for 2years while on the Scheme. Come 6montgs after off the BTWEA, if he takes wages out of 5k to pay for some house improvements, will he be liable for 20% of the 5k seeing as he's not on the Scheme anymore or…

24-09-2016 12:24pm

#1

shugy

Banned (with Prison Access) Posts: 409 ✭✭

Join Date: September 2015

Posts: 327

Hypothetically question but what if one accumulated 20k while on the BTWEA scheme. He's tax free on these earnings for 2years while on the Scheme. Come 6montgs after off the BTWEA, if he takes wages out of 5k to pay for some house improvements, will he be liable for 20% of the 5k seeing as he's not on the Scheme anymore or will these earnings be tax free because gained in those 2 years.

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