Remittance basis assesment

Shiena

Registered User
Messages
3
I am looking for some information on remittance basis assessment and hope that someone here may have faced a similar situation that can provide some help or suggestions.

I am a non-domiciled Irish resident who has been living in Ireland over 15 years. I do not own any property and I do intend on returning to my home country in a few years. As I am a non-domiciled resident, the website stated that under remittance basis assessment am liable to pay tax on any income remitted into the country and there, it did mention that capital being remitted is not liable to tax.

The money I would like to remit is capital and not income. As for the source of the cash, it is from a court action against an insurance company for a car accident I had suffered 3 years before arriving here. Due to the seriousness and the consequences of the accident, the case was judged in my favor 4 years after the accident while I was a 2nd year student in Ireland. Those years, foreign students were not allowed to work at all, even on part –time basis without a work permit.

I rang revenue looking for information and advice but have had no luck. I was asked to write in to them for them to evaluate. I am a little apprehensive of doing so without gathering more information. All I want to do is to obtain something from the revenue in writing, clarifying that this remittance is not liable to tax, be it under income tax or CAT. (I hope I am not wishful thinking here)

Any advice or suggestion as to where I can look for further info or where I could find a tax advisor that may with this particular issue, would be much appreciated.

Thanks.
 
Hi

Not at all straight forward. Firstly as you as resident and non domiciled you are subject to tax on income arising in the state and foreign income to the extent remitted to the state.

The proceeds of a personal injury claim are infact income but are exempt from income tax.
http://www.revenue.ie/en/tax/it/leaflets/it13.html

So I think you have no issues with that.

Hope that helps.
 
Hi Shiena,

I'd be happy to assist you. I specialise in advising both Foreign Nationals and Personal Injury settlements.
 
Hi Marc,

Unfortunately I can't seem to be able to access private messages on this as yet, nor am I on twitter. Any ideas how I can get in contact?
 
Back
Top