UK bank account - living in Ireland

BarneyMc

I worked in the UK 25 years ago and had a bank account there. I've kept it open as it's handy to withdraw cash when over there or up north. I've got a letter in the last few weeks asking me to confirm place of residence - required to share with tax authorities in the UK and Ireland.

I've never more than £1,000 in it (at best of times) and earn little interest - as I said it's just handy to have. However I'm beginning to realise I might be liable for tax on my (tiny) earnings! Should I close my account or is there another way to declare this formally to Revenue?

GerardKeating

BarneyMc wrote: »

I worked in the UK 25 years ago and had a bank account there. I've kept it open as it's handy to withdraw cash when over there or up north. I've got a letter in the last few weeks asking me to confirm place of residence - required to share with tax authorities in the UK and Ireland.

I've never more than £1,000 in it (at best of times) and earn little interest - as I said it's just handy to have. However I'm beginning to realise I might be liable for tax on my (tiny) earnings! Should I close my account or is there another way to declare this formally to Revenue?

Revenue did a publicity campaign on issues like this earlier this year.

BarneyMc

GerardKeating wrote: »

Revenue did a publicity campaign on issues like this earlier this year.

So contact Revenue?

gustafo

i got a coulple of those letter aswell because i have an account in ulster bank in the north, they were handy for lighting the fire, it's none of there business where i'm tax resident.

OldMrBrennan83

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The Nutty M

If you have been a PAYE worker in the UK or self employed and payed tax there, what would revenue be going after you for? How can they tax money twice?

gustafo

Patww79 wrote: »

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my account in the north is free no charges what so ever.

GerardKeating

BarneyMc wrote: »

So contact Revenue?

Perhaps read this first...

server down

What tax would be owed? Dirt? The amounts round be minuscule.

Bubbaclaus

gustafo wrote: »

i got a coulple of those letter aswell because i have an account in ulster bank in the north, they were handy for lighting the fire, it's none of there business where i'm tax resident.

Actually it is, because there are tax withholdings on the interest income which are dependant on residence position.

server down

Bubbaclaus wrote: »

Actually it is, because there are tax withholdings on the interest income which are dependant on residence position.

Given present interest rates revenue probably isn’t going to investigate people with a messily grand and the 1€ a year they make.

Chris_5339762

I declared mine and paid about 4c in tax through revenues website.

Ulster Bank keep sending me letters that I need to send a signed photocopy of my passport to them to prove residency. I've refused point blank to send a copy of my passport through standard mail in their freepost envelope.