Key Post The Tax Treatment of ETFs for Irish residents

Well it means you can reinvest dividends without incurring additional brokerage costs but bear in mind that the dvidend is still taxable as income. Make sure you keep good records as to precisely when, and at what cost, you acquire all shares - you'll thank yourself when you eventually have to make a CGT return.

I saw people here recommending de giro their fees are really good but I notice they don't do dividend reinvestment. I have two accounts a US etrade one which is cheap enough $9 per trade with no other charges and a UK selftrade account charges £12 per trade but no other charges also. They both do dividend reinvestment. But if I was to transfer all my shares to de giro it would be expensive as both selftrade and de giro would charge for the transfer. I think all I can do is sell my shares slowly and re buy them with de giro. What about records and statements with de giro are they fairly good as this is important in relation to tax returns

joe sod said:

I saw people here recommending de giro their fees are really good but I notice they don't do dividend reinvestment. I have two accounts a US etrade one which is cheap enough $9 per trade with no other charges and a UK selftrade account charges £12 per trade but no other charges also. They both do dividend reinvestment. But if I was to transfer all my shares to de giro it would be expensive as both selftrade and de giro would charge for the transfer. I think all I can do is sell my shares slowly and re buy them with de giro. What about records and statements with de giro are they fairly good as this is important in relation to tax returns

Click to expand...

Joe sod, first, thanks for yours and all others' posts here, I'm slumped in a depression here since reading through this entire thread! I opened a Degiro account recently but was unaware of the EU vs Non-EU ETF tax situation. Will now have to revisit, sell all UCITS and buy US or other non-EU equivalents. I've only started so it's not much to lose but just painful.

Anyway, I wanted to ask about your US eTrade account and/or UK Selftrade. Are there any restrictions on an Irish citizen holding these types of accounts? Are you funding your trading out of Euro bank accounts? If you can reinvest dividends (which is important as the other issue I'm hacked off about is that I chose all accumulating ETF's, but several posts suggest that non-EU ETF's that accumulate are not as common - so on that basis I'm nearly more drawn to eTrade over Degiro as the reinvestment potential is worth it? So I'm asking why are you considering the reverse?

Appreciate any time you take to respond, thanks.