Moving to Ireland

byrneand

Hi Guys,

Just wondering if anyone can suggest any specific tax law differences between the Uk and Ireland that I should be aware of. I have flexibility over how, when and how pay is structured and so obviously keen to pay as little tax as possible.

Can anyone point out any rules they've come across that would be "deal breakers" so far I have:

- Total income tax + N.I payable. Efffective tax rate in UK would be 43%, Ireland = 48%.
- VRT: having to pay significant one-off tax payment if car is not owned for 6 months.

Any others people have seen?

Thanks

ak35

Byrneand,

Just checking that you have the right end of the stick with VRT - you have to pay VRT if you bring a car into ROI and have 24hrs to notify customs at your nearest entry point of doing so. Length of ownership has nothing to do with it. the get out clause is where you leave residency of ROI within the six month period and return to country of home residency taking said vehicle with you and subsequently return. its a loophole but they will close this. Also VRT is 21% of the value that customs put on the car not what you have paid for it.

My advice to you is do not bother going near ROI, I lived there for a number of years and its rotten to the core, if you think brown, cameron, clegg et al are bad trust me the !!!!! wouldnt have anything on the politicos on ROI.

byrneand

ak35 wrote: »

Byrneand,

Just checking that you have the right end of the stick with VRT - you have to pay VRT if you bring a car into ROI and have 24hrs to notify customs at your nearest entry point of doing so. Length of ownership has nothing to do with it. the get out clause is where you leave residency of ROI within the six month period and return to country of home residency taking said vehicle with you and subsequently return. its a loophole but they will close this. Also VRT is 21% of the value that customs put on the car not what you have paid for it.

My advice to you is do not bother going near ROI, I lived there for a number of years and its rotten to the core, if you think brown, cameron, clegg et al are bad trust me the !!!!! wouldnt have anything on the politicos on ROI.

Thanks for the input mate.

My interpretation of VRT was that its based on a sldiding percentage scale on Co2 emmisions and a theoretical open market price for the vehicle. I was looking at taking a 911 over and so it was looking at something like €27k.. nightmare!

Apparently you don't need to pay it though if you've owned the said vehicle for 6 months before you move over to ireland. I'm in the process of trying to get some clarification on exatlt when that 6 months kicks in (e.g. day you start to get paid by irish company vs day you move to ireland vs day car comes vs what if you split your time between England and ireland).

http://www.vrt.ie/vrtInDetailIndex.php

The main thing I'm trying to acertain before negotiating contracts and salary etc. are major tax differences: e.g. income tax+equivalent on national insurance would be 48% in Ireland vs 43% in the UK.

- If anyone knows of any other big differences, it would be great to hear about them.

Thanks.