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Tax credits for future years reduced, but am leaving the country

  • 20-02-2021 1:45pm
    #1
    AAAAAAAAA
    Registered Users Posts: 255 ✭✭


    Hi there guys, last year I was on the TWSS scheme and as a result racked up €1500 in unpaid tax over the period. I also lost my job, so there is no reclaiming the money from the company now.

    Due to the size of the sum, Revenue's method of restitution has been to reduce my tax credits by around €375 a year for the next 4 years. However, I have emigrated in the last couple of weeks and will be switching to tax resident in another country (hopefully) soon.

    Will revenue be chasing me for the money (which, in all honesty, I can't really afford) as I am no longer going to be paying taxes in Ireland during the coming years, or does the fact that they have already reduced future tax credits mean the underpayment is "settled" so to speak?


Comments

  • #2
    athlone573
    Registered Users, Registered Users 2 Posts: 724 ✭✭✭athlone573


    AAAAAAAAA wrote: »
    Hi there guys, last year I was on the TWSS scheme and as a result racked up €1500 in unpaid tax over the period. I also lost my job, so there is no reclaiming the money from the company now.

    Due to the size of the sum, Revenue's method of restitution has been to reduce my tax credits by around €375 a year for the next 4 years. However, I have emigrated in the last couple of weeks and will be switching to tax resident in another country (hopefully) soon.

    Will revenue be chasing me for the money (which, in all honesty, I can't really afford) as I am no longer going to be paying taxes in Ireland during the coming years, or does the fact that they have already reduced future tax credits mean the underpayment is "settled" so to speak?

    You'll still owe the money. They won't be stopping you at the airport for it but whether they'll write it off, or roll it up and take it off your pension eventually, who knows?


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