Special Savings Accounts in Form 11?

S

splotch

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I've been slaving over my 2007 Form 11, and was hoping someone could clarify something for me.

In section F, line 403c there's a place for gross interest for "Special Accounts". Does this relate to SSIAs or just to the special savings products which the banks marketed as a place to put the SSIAs on maturity ? Or does it cover both ?

Any help on this much appreciated.

/John
 
Note: SSAs are not the same as SSIAs.

SSAs are older, you don't really see any being advertised these days.
 
So are you saying that i don't need to enter the interest on the SSIA in Form 11 ?

/John
 
Just to be more specific on my previous query; i realise that the SSIA gains aren't liable to income tax but am concerned that the interest and tax credits i received could be liable to PRSI, and thus might need to be included somewhere in Form 11.

Can anyone clarify further ?

/John
 
splotch said:
Just to be more specific on my previous query; i realise that the SSIA gains aren't liable to income tax but am concerned that the interest and tax credits i received could be liable to PRSI, and thus might need to be included somewhere in Form 11.

Can anyone clarify further ?

/John
Click to expand...

Provided you fulfilled all of the conditions on maturity of the SSIA and the relevant exit tax was paid then there is no further liability on it, either to tax, or PRSI, or levies. Depending on how it was subsequently invested or utilised then those subsequent investments may, depending on their nature, be subject to declaration, tax,PRSI,levy.
 
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