I am (although a UK citizen and resident) an Irish tax payer for various reasons, few of which I understand. Technically exempt from UK tax under the dual-tax treaty, what stops me from putting £7,475 in an Irish ISA and then transferring it to the UK?
No Irish tax paid, no English tax paid as it's under the personal allowance. Somewhere along the lines I think someone from the IR will be along to break my thumbs with a hammer, but not sure whether they'll be English or Irish!
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Having some ongoing (for years) property negotiations 'tween here and Eire i have come across this type of thing, there are reciprocal arrangements between the Irish and UK inland revenues, i imagine they have worked together for many years as Irish workers have flitted between the two.
If one don't get yer the other will.
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Sort of a moot point because I think I've misunderstood the whole point of ISAs!
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Not sure I understand you.
It is not possible (of this I am 99% certain) to "transfer" an Irish ISA to the UK ISA system.
You put cash into a pot that the Irish tax authorities regard as tax free. Why would the UK taxman regard it in the same way?
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MM - like I said, I think I misunderstood how ISAs work...
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Irish tax conundrum - -
