Interest on deposit not submitted in tax return

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Maximizing feed

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I have never declared the interest on deposit whed doing my tax return. I stupidly believe my ex husband who told me because dirt was deducted you don't need to include it in the tax return. I only realize today that they need to be declared because i was searching how to declare the interest on foreign bank account when dirt is not deducted so my past return are wrong for a good amount of year. How do i go to correct it? Thanks
 
How much are you talking about and over how many years? If it's only, say, a few hundred euro I wouldn't worry about going back to correct anything as there shouldn't be any outstanding tax liabilities and kicking that sleeping dog might just cause unnecessary confusion or even hassle with Revenue. However if the sums are larger (e.g. in the thousands and, in particular, over €5K p.a.) then you may need to address this and might need to get professional advice in my opinion (as a non tax expert).
 
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Up to now was this interest subject to DIRT at source? If so then I wouldn't bother about going back to declare it as there shouldn't be any further tax liability. But if it was paid gross without DIRT being charged at source then you might want to deal with it - e.g. by updating your myRevenue records for 2022 to 2025 with the relevant details as you probably do have some outstanding liabilities. (I'm assuming that you're not self-assessed).

Just to clarify, in no case am I recommending tax evasion but if you received nominal amounts of interest which were paid net of DIRT then your tax liabilities have almost certainly been discharged and recording this historically really doesn't serve much purpose.
 
I do declare the interest saving when dirt was not paid in my declaration . It is the interest saving where dirt was paid that i did not declare. Going forward i will declare them. Thanks a lot for your reply, really appreciate
 
If DIRT has been paid on interest earned from a deposit in an Irish bank, that is the final liability.

There is no need to declare deposit interest earned from normal deposits in Irish banks.

Otherwise, loads of people would have to submit annual tax returns!!
 
If you are a self-assessed taxpayer (Form 11) you are supposed to declare Irish deposit interest even when DIRT is already paid so that PRSI can be charged on it.

If you have paid DIRT, you do not have to pay any further income tax or Universal Social Charge (USC) on the interest, but you must declare the interest as income if you are making an income tax return.

In some circumstances, you may have to pay PRSI on deposit interest.
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Didn't they use to charge prsi on it even when DIRT fulfilled the tax liability?

Either way if it's very little I'm not sure I'd bother, I know I haven't with mine in recent years as its buttons in the overall scheme of things.
 
Corola said:
If you are a self-assessed taxpayer (Form 11) you are supposed to declare Irish deposit interest even when DIRT is already paid so that PRSI can be charged on it.
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Technically you're also supposed to declare it if you're PAYE and use myAccount but many people don't and for nominal amounts, especially under €5K, it ultimately doesn't really matter.

How do you declare Deposit Interest?

How do customers submit Deposit Interest Retention Tax on their tax returns
www.revenue.ie www.revenue.ie

If you are a PAYE taxpayer​

You should include any DIRT on your Income Tax Return (Form 12). Use myAccount to submit your Form 12 online through 'PAYE Services'. This only applies if your taxable non-PAYE income (including income subject to DIRT) is less than €5,000.
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Maximizing feed said:
It is the interest saving where dirt was paid that i did not declare. Going forward i will declare them.
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Yes, I wouldn't worry about previous amounts or updating the last 4 years of returns.
 
How do you declare interest that you have already paid DIRT on so they won't try and charge it again.
 
It balances out in the end.
I declared deposit interest, below 5k, which already had DIRT deducted.
It was added to my total income for 2025 and liability calculated at 33% DIRT

In the Credits section the 33% DIRT was added as a credit so effectively cancelling out the liability.
 
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