I have a small pension on top of old age pension and my wife's old age pension. We qualified for tax free status as our income is below 36K.
However, we also have post office savings which are supposedly tax free and when applying for tax free this was not queried, there was no mention anywhere on any form regarding this. I saw an article recently stating that the revenue take this interest into account when assessing qualification. The interest on these savings would take us above the 36K but this is extremely difficult to work out as the interest rate is over 3 or 5 years.
Does anybody know what the situation here actually is?
However, we also have post office savings which are supposedly tax free and when applying for tax free this was not queried, there was no mention anywhere on any form regarding this. I saw an article recently stating that the revenue take this interest into account when assessing qualification. The interest on these savings would take us above the 36K but this is extremely difficult to work out as the interest rate is over 3 or 5 years.
Does anybody know what the situation here actually is?