Postby funcrusherbill » Thu Mar 06, 2008 8:53 am
In Dec 07 The irish government outlined changes effective from 1 Jan 08 as a result of EU intervention. I believe that the UK has/will reciprocate. Can anyone clarify how these will operate in practice? Previously undere the double tax agreement,UK deposit interest of an Uk domiciled/irish resident was taxed only in Ireland, irrespective of whether remitted. It appears that henceforth the remittance basis will apply. So what will be the UK tax position, under the EU savings directive? Is there going to be a separate UK tax liability imposed, which can be off-set against irish tax if the interest is remitted? And if it is not remitted, will it be tax-free, or taxed subject to personal allowances etc, or what?