Remittance basis question

[MK1112]

Wondering if anyone on this forum can help me with this query as I can't seem to find the answer on Revenue guidelines or on this forum.

It relates to remittance basis of taxation. I am a tax resident in Ireland (PAYE) but domiciled in the UK with investments in a UK investment account. Does remittance basis of taxation still apply if I transfer money earned from employment in Ireland to my UK investment account and invested in eligible investments provided it's not remitted back into Ireland? Thanks in advance.

 

[edmondantis12]

I don't see why it wouldn't apply. If you are PAYE normally the tax is taken at source. Once you have paid the tax I guess you can do whatever you want with your money, reinvest it, buy a car, splurge it in a casino in Las Vegas etc etc. As a non-domiciled if you reinvest abroad the money on which you have paid taxes already in Ireland and never ever remit that money and profits that you eventually make into Ireland, I don't see why the remittance basis of taxation wouldn't apply.