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Deposit Interest

Changes to the status of DIRT-free accounts

If your circumstances change, it may affect your exemption from Deposit Interest Retention Tax (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
the deposit ceases to be an asset of the Pan-European Personal Pension Product
the deposit is no longer solely in respect of monies received under the Mother and Baby Institutions Payment Scheme.

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 or a Pan-European Personal Pension Product Provider
and
to notify Revenue of any changes if you are a permanently incapacitated individual or in receipt of Mother and Baby Institutions Payment Scheme monies.