Just completing form 11 for 2007 (for the first time). I'm a PAYE employee.
I have a deposit savings account in Northern Ireland where I receive deposit interest without tax deducted. Do I have to pay dirt on this gross interest at the current dirt rate in the republic of Ireland of 20% or do I have to pay income tax on this interest at my marginal rate of 41%. The local Revenue office was not sure and informed me that they would look into it!.
Not clear on this. If after including the interest earned in Northern Ireland I am still in the 20% tax band surely I pay tax at 20% on the lot and not tax on the interest at 41% - or have I missed something?