Hi,
I am a bit confused about the following:
I am just trying to compare the tax treatment of monies held within two funds: Fund A and Fund B. Both funds have the same amount of money invested in the same assets producing the same rate of return. The only difference is Fund A is a pension fund and Fund B isn't.
It seems that one of the big advantages of investing in a pension fund is that within the fund your investments will be exempt from CGT, DIRT and income tax.
However, if you take a personal investment fund (that isn't a pension fund), e.g. a typical gross roll up fund (e.g the Freeway Investments products offered by Quinn Life), am I right in saying that no tax is payable within the fund either (you just pay tax of 23 % on exit)?
So where is the tax advantage of the pension fund in terms of how monies grow within it?
Many thanks,
Auburn
I am a bit confused about the following:
I am just trying to compare the tax treatment of monies held within two funds: Fund A and Fund B. Both funds have the same amount of money invested in the same assets producing the same rate of return. The only difference is Fund A is a pension fund and Fund B isn't.
It seems that one of the big advantages of investing in a pension fund is that within the fund your investments will be exempt from CGT, DIRT and income tax.
However, if you take a personal investment fund (that isn't a pension fund), e.g. a typical gross roll up fund (e.g the Freeway Investments products offered by Quinn Life), am I right in saying that no tax is payable within the fund either (you just pay tax of 23 % on exit)?
So where is the tax advantage of the pension fund in terms of how monies grow within it?
Many thanks,
Auburn