P.R.S.I. on your Deposit Interest

If you are lucky enough to be making interest on your hard earned savings, then you are unlucky enough to be paying 41% DIRT on such interest.

Portrait of a pretty young woman with a look of shock on her face

From 01.01.2014 you must also pay P.R.S.I. on this interest at 4%. You may have thought this was being deducted by the banks but in fact you must make a tax return through the self assessment system to do so…

This basically means filing a tax return through the ROS system.

To ensure you are tax compliant and avoid any penalties or interest building up contact us today for a chat on this matter.

Tel Jason on 0874199204 or email jason@mcdowellaccountants.ie