Steph Wickham

Because, you know, the non-domicile remittance basis of tax is very advantageous if the client has no immediate or upcoming need or desire for the income or gains in Ireland.

But if they say to you, well, actually, we think we're going to build a house and we need the money to build a house.

This is a cautionary tale as well, because

There's exceptions to that.

Of course, like everything in tax.

And, you know, if we go back to my point there about the pension product, which I don't view as a pension product that's been sold to somebody, it's quite likely that that doesn't qualify for the remittance basis.

There's a specific out for an asset that is remittance.

an offshore fund in a certain jurisdiction that if somebody was to sell that the gain would be taxable in Ireland and perhaps most crucially the eight year deemed exit event can arise that doesn't get remittance basically so this is the type of

You kind of don't want to be so sharp.

You cut yourself.

You know, you kind of we do a portfolio review.

What have you got that we don't like before we start to talk about how the remittance basis might apply?

And then you start to understand from the client, what are your plans?

What do we want to do?

So, this would come up from time to time where people will very rightly identify that if perhaps one partner is working abroad, perhaps in a low-tax jurisdiction, being paid very well, that the family could live apart for a period of time.

The individual would break their Irish residency and their employment income.

would be outside the Irish tax net.

That would then give them the opportunity to potentially bring that money back to Ireland without there being an Irish tax charge.

So obviously it's very fact specific.

But what we were saying earlier, and we've seen lived examples of this, is that sometimes clients can become very excited about