What comes first UK or Irish Tax?

[shaun7579]

I am an Irish Tax resident and have a UK investment property, I have to declare my 2005 Irish Tax 31st Oct but don't have to report my UK tax until 31st Jan next, should I be seeking a tax credit in Ireland against my UK tax or the other way round, all suggestions welcome.

 

[Tenacious]

If you are tax resident in Ireland, you are liable to income tax on your worldwide income.

 

[Rhino 1]

Shaun,

If you have a UK liability you will have to account for that and take a credit for taxes "paid" when submitting your Irish form. (you should have paid preliminary tax in the UK by this stage if you have a liability there)

You may not even have a UK liability but have an Irish liability on the income.

Get someone to look at the UK for you. Available if needed.

Rhino

 

[bazermc]

Under the relevant Double Taxation Agreement the UK has taxing rights on a UK situate property, therefore, you will be seeking a credit for UK tax paid against your Irish liability. Please note the UK tax year is still April to April not a calender year - like in Ireland