Moving up north

iremex

hey all,

just wanted to flag something past you all.
I am seriously thinkin of moving to newry for various reasons and wondered if anyone made the move?

what i would like to do is either build a house on a site on the outskirts of newry of move up to belfast and buy an apartment. work is EXTREMELY flexible with both offices in dublin and belfast but i wouldnt be moving because of them. i am currently working on setting up my company and newry would be a great place to locate..

another family member is also getting taxed (irish tax rates) because he resides in ireland but paid into his english account even though he is out of the country for 6months a year. the company have said if he lives in the UK, the no longer have to pay the irish tax (dont ask me how that works!)

plus with the M1 motorway, the hopeful peaceful agreement and the rate of the property increasing up there over the past few years makes it a tempting avenue.

what problems lie ahead? hit me with it.........
cheers

The_Conductor

iremex wrote:

another family member is also getting taxed (irish tax rates) because he resides in ireland but paid into his english account even though he is out of the country for 6months a year. the company have said if he lives in the UK, the no longer have to pay the irish tax (dont ask me how that works!)

There are a couple of different rules regarding determination of where someone is tax resident.

If you are absent from the country for greater than 183 consecutive days in a calendar year you *may* be entitled to be treated as non-resident for tax purposes.

Your economic activity is also taken into account however- i.e. if your children are in school and your house with all its utility bills are in jurisdiction x, then irrespective of your physical presence in jurisdiction x- you are considered tax resident in jurisdiction x.

Payment into a bank account in another EU (or third) country in no manner absolves a person of their obligations from a tax perspective in the country in which they are nominally resident (for tax purposes). These payments should be declared in an annual personal tax return- failure to do so may result in investigation by the Revenue Commisisioners (who are now entitled to details of bank accounts of any Irish tax residents irrespective of where these accounts may be (in the EU, or EEA). You could get paid into an account in a country where we have no reciprochal tax arrangements, The Maldives or where-ever, but do you really want to go to that trouble?

The information being given by the company your family member is employd by seems seriously circumspect. I seriously advise he/she contact a reputable tax consultant.

Shane

Zambia

I would have a chat to InvestNI they are dying to here from start ups plus I think for sole traders there is a year tax free on starting.

Property in Newry is savage expensive and rising , its comparable to London and Belfast.

Property here can be as expensive as down south after the effect of last years 44 % rise in property value. This is due to the peace process and the peaking of the Irish Housing Market.

Have a look on www.propertynews.com for details on house look outside Newry.

If you are imagining spending your social life as a salt pieter (person who trys to live with a foot in two countrys) I wouldnt either move up and embrace life up here or contend with life in the South which cant be that bad.

When I think of more I will add more, I did this so feel free to PM me if you would like to.

iremex

shane, thanks for that. i'll forward your information on to him and let him make a call to his company to ask the relevant questions. he is willing to move as his collegues dont pay tax and they reside in belfast. (it is for the reason that he/they is out of the country for over 6months a year)

zambia, thank you for the info, i'll get in touch with the investni group as soon as i get a chance.
cheers guys