Pay tax to UK but Irish Income

[LByrne]

Hi All,

I was wondering if someone could offer some advice. I am trying to do a calculation to see how much tax I would be liable for in the republic of Ireland. I currently live in the republic of Ireland but recently started working in Northern Ireland. I am wondering if someone could help me with calculation of how much tax I would be liable to republic of Ireland.

My salary is 36000£ and I have an additional Irish income of 8,400€
I am a single person no dependants.

Would anyone know how much tax I would be liable for in the Republic?

I would really appreciate any advice as I am wondering if it is worth while to rent out my property.

Thanks

 

[GabbyTheKing]

Just to mention a few things

Just in relation to the rental aspect. I'm not going into the double tax relief elements, exchange elements, and over all taxable income.

Are you getting TRS on your property?
1) You will lose this if you rent
2) It may also effect your PPR Relief if you make a capital gain on disposal in the future. Depending on the terms of your employment maybe not.
3) Using rent a room relief and keeping a room in the house for yourself is often a better idea than renting to avoid losing TRS while also making the rent tax free
4) There is one clause that might effect you and it states the house must be used as your main or principal residence. S216A(1) legislative extract:

“qualifying residence”, in relation to an individual for a year of assessment, means a residential premises situated in the State which is occupied by the individual as his or her sole or main residence during the year of assessment;

Interpret by that what you will.

The tax briefings state ie Revenue Guidelines or their interpretation have a look extract "In general, an individual’s sole or main residence is that individual’s home for the greater part of the time and where friends and correspondents would expect to find him/her" I would be curious as to the the word general and where your friends and correspondents would expect to find you ie. your bank statements, bills, would your friends visit while your there for the weekend/holidays, where would you spend days off etc and see if the balance would indicate if your home is your "main or principal residence". It also states premises situated in the state, taken quite literally you could feasibly take that as your main residence in this state could you not?

Just an observation.