We are trying to downsize and have about €260,000 in cash but we are constantly outbid. We have about €800 a week in state pension coming in so I am thinking
of withdrawing about €40,000 from my ARF to get us across the line. I realise this will cause the fund to run out sooner, but are there any other obvious reasons for not doing this ?
You're taxed on withdrawals from an ARF as it it was earned income so you'll pay tax and levies on the €40,000 as if you had earned an additional €40,000 this year.
You're taxed on withdrawals from an ARF as it it was earned income so you'll pay tax and levies on the €40,000 as if you had earned an additional €40,000 this year.