Notifying revenue tax bands , credits and domiciled

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BiddyMaggie

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Question before we get down to submitting our tax return for 2022.

I came off payroll in first week of Jan 2023. (Career break) Should we amend our tax bands and tax credits for 2023. I have a band of €39,000 and my spouse is €31,000. Plus our personal employee tax credits.

Do we wait till October 2024 for a true up or should we contact revenue now so my spouse uses my tax credits and tax band for this year.

Also informing revenue of our position as domiciled here in USA does that need to happen now and show proof.

Would we be at a loss if we waited till next year’s return to notify revenue of these changes ie tax bands, credits and domiciled.
 
BiddyMaggie said:
Question before we get down to submitting our tax return for 2022.

I came off payroll in first week of Jan 2023. (Career break) Should we amend our tax bands and tax credits for 2023. I have a band of €39,000 and my spouse is €31,000. Plus our personal employee tax credits.

Do we wait till October 2024 for a true up or should we contact revenue now so my spouse uses my tax credits and tax band for this year.

Also informing revenue of our position as domiciled here in USA does that need to happen now and show proof.

Would we be at a loss if we waited till next year’s return to notify revenue of these changes ie tax bands, credits and domiciled.
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You'll end up in the same position after you file your tax return either way. It's a matter of whether you want the money now or in a year's time. By the way, you seem to be 10,000 short in your ratebands. They should total 80,000 in 2023 normally unless there's some reason for the difference.

There's a section on the form to indicate your domicile. You should be able to enter that information there.
 
Hi Ciru75
Yes that was my typo €49k and €31k. Question is as spouse is breadwinner and I’m not earning on career break do we lose out by not transferring tax credits and increasing spouses band to €80k now rather than waiting for tax return.
 
BiddyMaggie said:
Also informing revenue of our position as domiciled here in USA does that need to happen now and show proof.
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Just make sure you know exactly what you mean if making any such declaration to Revenue. It's generally extremely difficult to change one's domicile for tax purposes.
 
@T McGibney
We are living in USA on spouse job secondment possibly for 2-3 year’s minimum and have 2 rental properties at home. Spouse still paid in euro and taxed in Ireland.
 
Thanks @BiddyMaggie. That's not a change in domicile. Basically to rid yourself of Irish domicile, you'd have to sell your assets and shut your bank accounts here and act as if you were never ever coming back.

If the terminology is confusing you, your spouse should ask their employer to find an advisor to advise you formally on all the tax and other issues arising from the secondment.

Much better to do that now than wait for mistakes to be made with Revenue.
 
You are not currently tax resident in Ireland but you are still likely to be tax domiciled in Ireland. But you will be a non-resident landlord and so will have to declare your Irish rental income to Revenue each year you are abroad. There are also extremely cumbersome new rules for non-resident landlords in since July 2023 which mean you have to pay tax on rent received in real time (each month) via ROS.
 
Sorted the rent via an agent who previously did our taxes. We may end up staying in USA and is it tax beneficial being non domiciled.
 
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