K
KarlC
Guest
I have an ARF with a Life company within the Irish market.. My 5% deemed withdrawal as per revenue rules went through in December 2010.
However unlike any other provider i deal with, my payment was not made to me until Januray 2011, and i was therefore charged the USC on my payslip.
My issue is why am i being charged the USC when my withdrawal and income from ARF was for the 2010 Tax Year, therefore i was subject to differnet rules/levies..
The USC was introduced on income earned from 1st January 2011.
Do you think if they had decreased tax rates i would have been charged the lower amount.. Don't think so??
Thoughts and views welcome??
Has anyone else been caught in this trap??
However unlike any other provider i deal with, my payment was not made to me until Januray 2011, and i was therefore charged the USC on my payslip.
My issue is why am i being charged the USC when my withdrawal and income from ARF was for the 2010 Tax Year, therefore i was subject to differnet rules/levies..
The USC was introduced on income earned from 1st January 2011.
Do you think if they had decreased tax rates i would have been charged the lower amount.. Don't think so??
Thoughts and views welcome??
Has anyone else been caught in this trap??