Steph Wickham
๐ค SpeakerAppearances Over Time
Podcast Appearances
That's not how they work.
So, you know, clients will often come to us and, you know, the comments that we'll hear
which have an element of truth to them are, you know, well, there should be credit for the tax I paid or I already paid tax on that so Ireland doesn't get to tax it again.
And it's rarely that simple because when you actually look under, you know, the framework that the OECD has kind of drafted the treaties on,
It provides different articles in the treaty, articles being paragraphs or sections that apply to different income and gain types.
So normally in a standard treaty, you'll have an article for employment income, interest, dividends, rental income, capital gains, pensions.
government pensions, et cetera, et cetera, you get the gist.
And when you read each of those, you've got to be very clear when you read it as to where the individual is a resident for the purpose of the treaty, where the source of the income comes from, and then also how the credit mechanism works practically.
Different treaties, so for example.
So taxes are a necessary evil, really, aren't they?
And they serve such an important function in a society like what we live in.
But I'm a big believer in, you know, what do clients want?
They want to know that their taxes are in order.
But nobody likes to pay more tax than they need to.
So how we approach the tax return preparation is,
is we will use it, particularly if a client has come to us, as a way to kind of give them confidence that everything's in order.