Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

UK Stocks and Shares ISA Returning to Ireland

  • 26-05-2022 10:01pm
    #1
    Registered Users, Registered Users 2 Posts: 1,040 ✭✭✭


    I've around 50k sterling in cash sitting in a Stocks and Shares ISA in the UK having worked there for the last 10 years. This is probably a stupid question, but I'm moving back to Ireland this year and wondering whether, if I keep the account active and invest, tax will be due on any future income once I'm making a tax return in Ireland.

    All I can see on the broker's website is that once I emmigrate, any income or gains are shielded from UK tax.



Comments

  • Registered Users, Registered Users 2 Posts: 2,847 ✭✭✭crushproof


    I could be wrong but as far as I know you can no longer invest, but the money that is currently in the ISA can continue to accumulate profits.

    Probably best asking or searching on reddit - r/ukpersonalfinance

    I'll probably be facing the same dilemma at some stage, not looking forward to it! Maybe set up some sort of home address in NI to continue reaping the benefit of a generous tax system.



  • Registered Users, Registered Users 2 Posts: 10,454 ✭✭✭✭Marcusm


    ISA has no relevance for Irish tax purposes, especially if you are Irish origin, i.e. domiciled. If you have any latent gains ont he portfolio in the ISA you shoukld crystallise them before coming back to Ireland as otherwise the gain from original base cost will be taxable here at 33%.



  • Registered Users, Registered Users 2 Posts: 1,040 ✭✭✭onrail


    Pretty much what I thought. I'd sold everything back in Jan/Feb for a small gain, so everything is sitting in cash. I'll be moving within the next couple of months.

    So as I understand it, there is zero tax benefit in keeping the finds there?

    EDIT: Is divident income treated the same?



  • Registered Users, Registered Users 2 Posts: 10,454 ✭✭✭✭Marcusm


    Depending on when you are moving to Ireland you will need to exercise caution. Any gains arising on disposals in Jan/Feb 2022 would be subject to Irish CGT if you spend more than 183 days here during 2022 as you would be resident here for the full tax year. Split year treatment only applies to income from employment meaning that UK employment income would not be taxable here if it arose prior to the date of your arrival irrespective of whether you are resident. Capital gains and investment income is treated differently.



Advertisement