grandad089
Registered User
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Apologies if this is the wrong forum, if so please move.
My wife and I bought a house in the UK 25 years ago using an endowment mortgage.
We sold the house over ten years ago when we moved back home but kept the endowment policy going for life insurance and we would have lost heavily if we cashed it.
Every month I transferred about £85 to my UK account to keep up the payments.
It matures this year and will be worth about £30K.
Will I have an Irish tax liability on this when it matures?
Can I keep the money in my UK account as I'd rather keep it in Sterling than lose out in the exchange rate?
I've already paid tax on every penny I've put in there and basically little more than I've paid in over the years.
Do I need to even tell them?
I'm a normal PAYE earner.
Thanks
My wife and I bought a house in the UK 25 years ago using an endowment mortgage.
We sold the house over ten years ago when we moved back home but kept the endowment policy going for life insurance and we would have lost heavily if we cashed it.
Every month I transferred about £85 to my UK account to keep up the payments.
It matures this year and will be worth about £30K.
Will I have an Irish tax liability on this when it matures?
Can I keep the money in my UK account as I'd rather keep it in Sterling than lose out in the exchange rate?
I've already paid tax on every penny I've put in there and basically little more than I've paid in over the years.
Do I need to even tell them?
I'm a normal PAYE earner.
Thanks