In this follow-up to their in-depth conversation, Marc Westlake is joined once again by Irish tax expert and host of Taxbytes for Expats, Stephanie Wickham for Part 2 of their conversation. Together, they chat about more of the complex and often misunderstood realities facing expats and returning Irish citizens navigating the Irish tax system.

In Part 1, Marc and Steph discussed the mainstays of tax advice: what to do, what it costs, and why working with the right professionals matters, especially when you can get a team together.

This episode explores the real-world consequences of mismatched or incomplete advice, including probate delays, incorrect tax returns, and harsh surprises around U.S. estate tax and Irish capital acquisitions tax. And the anecdotes they share from their time working in tax and finance is invaluable. (Marc might even share a mistake he made that Steph fixed for him!)

Stephanie and Marc explore why joined-up thinking between tax and financial advisors is crucial, the costly risks of DIY compliance, and the challenges of coordinating non-Irish funds with the Irish system. Once again, having two experts in the room like this is rare - make sure you take notes!

Main Topics:

1. Common tax mistakes for expats and returnees: Many people unknowingly fail to file correctly or assume foreign income isn’t taxable in Ireland, leading to serious consequences.
2. The importance of joined-up advice between countries: When tax and financial advisors don’t coordinate across jurisdictions, clients can face unnecessary tax bills or compliance issues.
3. How Ireland’s offshore fund regime affects investments: Non-Irish funds can trigger punitive tax treatment, and most investors don’t realise the impact until it’s too late.
4. Why doing your own tax return can backfire: Even experienced professionals make mistakes, and DIY tax filings can result in costly errors and missed reliefs.
5. The real cost of poor or incomplete financial advice: Trying to save on fees often leads to higher tax bills and long-term problems that far outweigh the initial cost of expert advice.

Expat Taxes Website: https://www.expattaxes.ie/

Subscribe to her podcast: https://expattaxes.ie/taxbytes-for-expats-podcast/

LinkedIn: https://www.linkedin.com/in/stephanie-wickham-b4aba13b/

Expat Taxes is independent of Everlake and the views and opinions expressed by Expat Taxes are not necessarily the views and opinions of Everlake.

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This podcast is intended for information and educational purposes only and does not represent a specific recommendation or advice for an individual to follow. Speak to your financial adviser, in the context of your own personal circumstances, prior to making any financial or investment decisions.