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Hi, A new client disposed of material interests in Luxembourg domiciled UCITS during 2017 and did not include the payments received on his 2017 tax return which he submitted himself. We will amend the 2017 tax return under self-correction before 31st October 2019. My query is - the acquisitions of the material interests in these funds were not disclosed on Form 11 in each of the years of acquisition. Does this affect the tax liability arising on the payments received in relation to the gains on the disposal i.e. does PRSI or USC apply aswell as the income tax rate of 41%? Many thanks in advance for your assistance. Carol Fitzpatrick

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Asked on 3 October 2019 12:47 pm