Moving to Dublin

kevpur

Hello,

I'm planning to move to Dublin over the coming months to live with my partner (an academic with no family ties to Ireland) and have recently become a bit more financially aware and was wondering if I could get some opinions on my current savings and what to do. I currently have about 19k savings spread across a current account, H2B ISA (4k) and a S&S ISA. I understand that moving to the ROI means i'm not a tax resident anymore and cannot contribute further to any ISAs once I move.

I currently believe that my best option if i return to the UK in a few years and buy a property is to transfer my H2B ISA in to a LISA (cash or S&S) and turboboost it by depositing a lump sum annual allowance before the financial year ends since I won't be able to contribute to the H2B ISA once i'm in Ireland, and potentially a further 4k lump sum after the financial year starts depending on when i fully move to Dublin.

I'd say it's likely i'd come back to the UK, however I realised there is a chance that I end up staying in Ireland (happy life + brexit goes really badly etc) and the exit penalty of a LISA seems pretty painful if I had about 10k+ in it... I would put it all into my Vanguard S&S ISA, but my understanding is that large lump sums + S&S ISA are a bad mix and it's better to dripfeed, which i wouldn't be able to do. So I was wondering what people would recommend to make the most out of the savings i have and if i plan to buy a property but unsure if it would be in the UK or Ireland?

Thanks