Understanding tax when you use Wise Interest or Stocks in Ireland

Find general guidance about taxes and requesting tax statement when using Wise Interest or Stocks.

When you turn on Interest or Stocks, you’re investing in units in an accumulating money market or stocks fund. You can see more information about the funds here.

If you’re an Irish tax resident, you may need to pay income tax from your use of Wise Interest or Stocks. 

Income tax may be due on disposal of your units in the fund and you realise a gain — through spending, sending, converting or simply moving money within Wise or to an external account. This will trigger Wise to sell units in the fund, known as disposing.

You should note that a deemed disposal may occur when your units are held for a period of 8 years, and on each subsequent 8-year anniversary. The Market Value of the holding at the 8-year anniversary may form the base cost of the holding for the next 8-year anniversary period on which gains or losses will be calculated for income tax purposes.

Filing a tax return

Irish tax residents may need to report their income from the fund in their annual tax return.

You can find more information at the Irish tax administration website.

If you're a sole trader using Wise Interest passively, the guidance above may also apply to you.