I have a SIPP in the UK and am unclear as to the tax treatment in Ireland, particularly if I take a lump sum. I could take 25% tax free by HRMC rules but I am now Irish tax resident and domiciled. Would Irish revenue regard this as income or would it count against my Lifetime Irish limit of €200k tax free? Assume income is more straightforward? I can apply to have it paid gross to HMRC and then pay tax in Ireland?
Seems to be little online about this apart from one technical article which suggested that the lump sum payment from a UK SIPP should not give rise to a tax charge in Ireland nor should it impact the tax free limit. It also suggested that while this was correct legally that Irish Revenue practice differed.
Thanks.
Seems to be little online about this apart from one technical article which suggested that the lump sum payment from a UK SIPP should not give rise to a tax charge in Ireland nor should it impact the tax free limit. It also suggested that while this was correct legally that Irish Revenue practice differed.
Thanks.