When my SSIA account matured a few years ago I decided to leave it in place ( Irish Life Scope ) and continue my contributions of approx E250 per month. For the first few years it took a hammering for the reasons we are all aware of and lost a considerable amount. However over the past two years it has produced a return of 8-10 % and it has occurred to me that I am probably liable for DIRT tax on this profit.
My tax affairs are very straightforward as I am a PAYE employee in the public service with no other investments to complicate things. My basic question just to clarify is am I due for DIRT tax on profit earned .
Thanks in advance for any advice and yes I know that most people who know such things would shudder at my poor investment practice in leaving the account open but I was simply hoping that eventually things would improve .
W200
My tax affairs are very straightforward as I am a PAYE employee in the public service with no other investments to complicate things. My basic question just to clarify is am I due for DIRT tax on profit earned .
Thanks in advance for any advice and yes I know that most people who know such things would shudder at my poor investment practice in leaving the account open but I was simply hoping that eventually things would improve .
W200