Deposit Interest Retention Tax (DIRT)
Changes to the status of DIRT-free accounts
If your circumstances change, it may affect your exemption from DIRT. These circumstances include where:
- your total combined income exceeds the relevant exemption limit
- your total combined income exceeds your combined tax credits
- the person who owns the interest has changed and this new owner is not your spouse or civil partner
- your spouse or civil partner has died and you are under 65 years of age
- you have divorced or dissolved a civil partnership and you are under 65 years of age
- your spouse or civil partner has died and you are not permanently incapacitated
- you have divorced or dissolved a civil partnership and you are not permanently incapacitated.
If any of the above circumstances change, it is your responsibility to notify:
- the financial institution of any changes, if you are over 65 years of age
- and
- Revenue of any changes for permanently incapacitated individuals.
Next: Can you claim a DIRT refund?