Irish prize bonds

sasilverman

http://www.prizebonds.ie/index.asp

Does anyone know about these? I'm told they offer a better rate of return than UK Premium bonds, and that there are also weekly prizes.

I can't find anything on the site that says i am not eligable to enter...

...anyone had any experience with these?

Baldur

I hope that their tender was successful last month?

From http://www.prizebonds.ie/corpinfo.html

In 1999 the company submitted a successful tender to operate the scheme for a further 10 years until September 2009

glider3560

I've always wondered this too.

10 This form fully completed and signed can be
handed in with the appropriate remittance to any
Post Office, selected Banks or Stockbrokers.
Alternatively, you can send your application and
remittance by post to The Prize Bond Company
Ltd., General Post Office, O’Connell Street,
Freepost, Dublin 1. Purchases are accepted by
cash, cheque or by monthly direct debit. Credit
Card & Debit Card (Laser) purchases can be made
at Callsave 1850 67 1000. Irish residents only can
purchase through our internet site at
https://www.prizebonds.ie.

This sort of implies that non-Irish residents can buy bonds, but not online. https://www.prizebonds.ie/online/purchasing/Purchase_Notes.pdf

In fact, the application form even has a box for country.

I'm not sure what the UK tax implication of any prizes would be.

sasilverman

Thanks, hasn't considered the tax implications! Does this count as gambling or a savings scheme?

Jonbvn

sasilverman wrote: »

Thanks, hasn't considered the tax implications! Does this count as gambling or a savings scheme?

This from the form linked above.


In accordance with the provisions of the Finance Act, 2004 relating to interest paid to

non-residents, purchasers who do not already hold Prize Bonds will be asked to provide proof of (1) name, (2) address, (3) country of residence and (4) tax reference number (or place and date of birth if proof of a tax reference number is not available) in
the event of winning a prize.

This to me indicates that should you win any prizes, they will inform the UK tax authorities. I think winnings would have to be declared on your tax return.

Found this also;
http://www.thisismoney.co.uk/ask-an-expert/article.html?in_article_id=328062&in_page_id=92