Resident / Non Resident Taxation

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Pergo

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Hi,

My name is Rob I am English and currently live in the UK. I am planning on purchasing a house in Ireland in the coming 6 months as my son and his wife are expecting a baby and we wish to be closer by. I wish to know a couple of things so any help would be greatly appreciated.

1. Is the buying process of a house more complicated for someone who lives outside of Ireland?

2. What are the taxation issues with regards to how many days can I live in Ireland before I am classed as resident and have to pay tax. Or would I be better to split my time between both countries and remain a UK resident?

3. Are there any other issues that I may need to know about?

Thank in advance for any replies.

Best regards,

Rob
 
1. If u can travel back and forth then it is no great problem.

2. If u live 183 days in Ireland then u are classed as resident for tax purposes. Tax rates here are 20% and 42%.

the above are the simple straightforward answers, here are a few complex bits.

buying a house can be a nightmare, once it is known u are moving from uk, the price will go up and up, u may end up bidding against yourself, getiing surveys done can be a total waste of money, the price u see is never the price u pay, u have to pay stamp duty on a sliding scale, the holding deposit is usually in the thousands, i paid 13, 000 and when the deal fell though they were slow ie the estate agent, or auctioneers as they are called here, to give me my money back, eg it will take a few days to go through accounts, i protested and said my solicitor said u must pay me now, got cheque within minutes.

solicitors can charge u a %age of the price if u let them, there are quite a few on the net now who are cheap.

I could go on but you may be paying cash and as always cash is king.

I have come from uk as well and learnt the hard way.

pm me if u want more help.

noah
 

Responding to your first point - there is nothing significantly different to the house-purchase process in Ireland; as Noah says, estate agents tend to be known as "auctioneers". Survey on a property you decide to buy is vital and I would advise having a builder quote for anything that requires changing/fixing in advance of signing contracts as building costs are high and the commitment to a massive house-building programme in Ireland means finding builders/tradespeople to do small domestic contracts can be difficult. If you own your home in UK you won't be a first-time buyer when it comes to purchase in Ireland and you will be eligible for stamp-duty on a second-hand house (anything that isn't new-build is referred to as 'second-hand').

On your second question on tax there is useful information here:- [broken link removed]

Lastly Ireland is a wonderful place to live. There are big differences between Irish and English culture masked by a common language all waiting to be explored. If you are open and adaptable you will enjoy what's on offer including the wonderful countryside and Irish heritage..........and be close to your growing family.
 
Thank you for your comments and advice. I shall look up on the revenue website for more information. Been to see quite a few houses now and have been impressed with selection available and hoping to put a bid on a brand new house. So if anyone has anymore relevant advice thank you in advance.

Looking forward to sampling the Irish Life soon.

Rob
 
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