Do I have to pay exit tax?

[tallpaul]

Grateful for any help on this.

I have a Prospects Savings product with Hibernian which has performed poorly over the past while (to say the least). I going to cash in the policy and I note from that as I took out my policy before Dec 31 2000, I should not have to pay exit tax.

However I have looked around the Revenue site trying to find something official on this. Can anyone assist? I am not 100% sure under what category on the Revenue site I should be looking.

 

[Brendan Burgess]

Hi

The link to the Indo article doesn't work.

Brendan

 

[GSheehy]

The 'new' Gross Roll-Up taxation regime was introduced 01/01/2001. You do not have to pay 'exit tax' on your policy as it was taken out before this date. The relevant tax on your policy would have been deducted by Hibernian and paid to Revenue on an annual basis.