Tax on Business Savings
What is DIRT?
DIRT (Deposit Interest Retention Tax) is a 33% tax on interest earned from savings in Ireland.
How it applies to your business
Sole traders: DIRT is automatically deducted from any interest you earn. You don’t need to do anything.
Limited companies: You won’t pay DIRT if your Tax Registration Number is added to your account. If it isn’t added, you won’t be able to open a Savings Pot.
Adding your Tax Registration Number
Open the Monzo app
Tap Settings
Tap Business settings
Tap Tax status
Enter your Tax Registration Number
Confirm and save
Why we ask for this
We’re required to follow Irish tax rules when paying interest.
Your tax details help us apply the correct tax treatment and confirm if your business is exempt from DIRT.
Key things to remember
DIRT is 33% of interest earned
Sole traders pay DIRT automatically
Limited companies don’t pay DIRT if a Tax Registration Number is provided
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