The tax revenue in Ireland is called the Irish Tax and Customs which has a very similar tax system than the UK. Ireland is known for its very generous corporation tax rates and tax-free lump sum allowance on pensions. Ireland is home to 300,000 British Expats, many whom have UK pensions. This text will illustrate what your best options are for your UK pension as well as explaining what the local tax rates are and who they apply to. The areas we will cover include:
- Defining a Tax Resident in Ireland
- Resident and domicile
- Resident and non-domicile
- Ordinary Resident and Domicile
- Non-Resident and non-domicile
- Income Tax in Ireland
- Universal Social Charge (USC)
- Tax Credits and Tax Allowances in Ireland
- Capital Gains Tax (CGT)
- Deposit Interest Retention (tax on bank accounts and savings accounts)
- Capital Acquisitions Tax (Gift Tax, Inheritance Tax and Discretionary Trust Tax)
- Corporation Tax
- Options with your UK Pension
- Leave your Pension where it is
- SIPPs in Ireland
- Taxation of a lump sum
- Transferring to a QROPS for Irish Residents
- Overseas Transfer Charge
It is important to note that the information provided on this website is just a guide, hence before making any decisions it is always advisable to talk to a tax adviser.