'UK' Joint Bank Account

Nukes

Any advice appreciated.
Moving to Eire in a week, alone. I have a joint bank account, also a joint building society account in england with my wife. She will stay here whilst I am in Eire for 3-5 years. We obviously access the account for day to day living and being the bank of mum and dad for three adult boys/men. In Eire I shall use the bank account on a daily basis. I have no income but will get a taxed 'UK' pension from April which will be an annual lump sum of £20000, this will go into one of the above accounts. My wife has a monthly pension paid into one of the above. What is the impact of any of the above being taxed in Eire, if at all.
Bearing in mind a post from another user and a request for bank statements and transactions etc over three years, should this be asked of me, in the light of a three year activity in the 'UK' from my wife and the thousands of transactions over that time, will it look odd and dubious to say the least for the authorities in Eire.

Victor

Welcome to Ireland. We can't give legal advice here.

Nukes wrote: »

Moving to Eire in a week, alone.

"Eire" often doesn't go down well with the locals, It comes across as 1930s-style patronising. In the English language, the name of the country is "Ireland". Only use "Éire" (note how it's written) when speaking Irish (the Gaelic version).

I shall use the bank account on a daily basis.

This may subject you to excess bank charges.

What is the impact of any of the above being taxed in Eire, if at all.

It would be something along the lines of you would liable for Irish tax on all your income, but with a credit for any tax paid in the UK. Alternatively, you pay tax here and get a credit in the UK for any tax paid here. Because the two tax systems are different, with different rates, credits, allowances, etc. a one-off discussion with an accountant might be useful.

Bearing in mind a post from another user and a request for bank statements and transactions etc over three years, should this be asked of me, in the light of a three year activity in the 'UK' from my wife and the thousands of transactions over that time, will it look odd and dubious to say the least for the authorities in Eire.

I'm not sure what this means.

Nukes

Thanks Victor. To clarify. I receive my lump sum in April and it is taxed in Britain. It could be taxed again in Ireland (at 20%). If so I would get the secondary tax back as credit. When and how would this scenario occur? It is still possible from what you say I might not get taxed twice? Of course all documents need to be kept to show primary tax has occured.

nuac

Mod
Moved to Taxation

Nukes

Thanks Nuac