Revenue have done a compliance risk review of the above and have concluded that any gain is subject to income tax and not cgt. But they have also stated if it transpires their position as outlined is incorrect and transactions are not considered a disposal of a material interest in offshore fund which is subject to income tax, prsi & usc, then my original assessment of cgt will stand.
I believe this letter is gone to all investors in the fund
It was a non distributing offshore fund, revenue saying I had a material interest in it. In memorandum, this was not the case, and cgt was advised would be payable.
Anyone else received this letter ?
I believe this letter is gone to all investors in the fund
It was a non distributing offshore fund, revenue saying I had a material interest in it. In memorandum, this was not the case, and cgt was advised would be payable.
Anyone else received this letter ?