Hi there,
A quick question. Resident and ordinarily resident in Ireland, but non-domiciled. Spouse is an Irish national, so Irish domiciled. We're taxed on joint assessment basis. I received an inheritance before 5 years of consecutive residency in Ireland. As non-domicile, am I correct that I cannot be charged CAT on this? Am I obliged to disclose this amount to revenue? My understanding was that as I was not "resident" yet for CAT purposes, I had no tax liability/obligation to disclose. I was advised by accountant that my understanding was correct, but received other conflicting info and am now confused. I thought the law was fairly straightforward.
As am not domiciled, my bank accounts are in my home country and inheritance was received and deposited there - planning on moving back home within a year, so no reason to transfer it to Ireland. In terms of the interest earned, I have remitted some of this interest with my capital - was stupidly unaware of this basis of taxation. We file as PAYE. When determining if under the €3,000ish amount to qualify for PAYE and not have to do a self-assessment, do I only count the interest I've remitted, or the total interest I've earned? Further, if I do have to go the self-assessment route and file the return late, does this have to turn into a voluntary disclosure - or can it just be a late filing? I will be fully compliant, just nervous of what I'll face if this has to be a voluntary disclosure.
A quick question. Resident and ordinarily resident in Ireland, but non-domiciled. Spouse is an Irish national, so Irish domiciled. We're taxed on joint assessment basis. I received an inheritance before 5 years of consecutive residency in Ireland. As non-domicile, am I correct that I cannot be charged CAT on this? Am I obliged to disclose this amount to revenue? My understanding was that as I was not "resident" yet for CAT purposes, I had no tax liability/obligation to disclose. I was advised by accountant that my understanding was correct, but received other conflicting info and am now confused. I thought the law was fairly straightforward.
As am not domiciled, my bank accounts are in my home country and inheritance was received and deposited there - planning on moving back home within a year, so no reason to transfer it to Ireland. In terms of the interest earned, I have remitted some of this interest with my capital - was stupidly unaware of this basis of taxation. We file as PAYE. When determining if under the €3,000ish amount to qualify for PAYE and not have to do a self-assessment, do I only count the interest I've remitted, or the total interest I've earned? Further, if I do have to go the self-assessment route and file the return late, does this have to turn into a voluntary disclosure - or can it just be a late filing? I will be fully compliant, just nervous of what I'll face if this has to be a voluntary disclosure.