Need some tax advice, anybody have a good adviser?

Need some tax advice, anybody have a good adviser?

Author
Discussion

aspender

Original Poster:

1,308 posts

267 months

Wednesday 20th May 2009
quotequote all
Especially if you know anybody with good knoweldge of UK and Irish tax law... (Wait for everybody to saw EricMc!)

I am domiciled in the UK (through birth) and worked in the UK until June 2007 when I moved to the ROI to work there. Whilst working for the same multinational, I effectively ceased employment with the UK Ltd company to join the Irish Ltd. company. I'm a permanent employee taxed in Ireland. I have lived in here since June 2007 to present with very limited travel back to the UK (4-5 weeks in total over two years)

I am considering the possibility of moving back to the UK this year. One scenario under consideration is remaining working for (and paid by) my current Irish employer, but working remotely. I would effectively be a home worker with fairly limited trips over to Ireland (e.g. 2-3 days per month)

I own no property or have any other significant assets in either the UK or Ireland. I am married, my wife is Irish and would likely be employed in the UK if we move over. No kids.

I've been reading up, but have a few questions on the tax implications of the above option:

- I will effectively continue to be paid by my Irish employer and pay Irish tax at source. However, almost all of my income will be transferred back to the UK. How will this play out in terms of UK taxation?
- What are the implications of the fact that I will actually be working from the UK, as opposed to just being resident in the UK but commuting and carrying out my work in Ireland? From what I've read of the UK/Ireland DTA this isn't going to help me and may be the deal-breaker for such an arrangement.
- What are the implications of the fact that my employer is a multinational company with offices in the UK and Ireland? Does the fact that the Irish and UK companies are distinct limited companies have any bearing?

I want to get some advice from a specialist, so this thread is more about recommendations rather than looking for answers, but the PH collective can bring useful information to bear then so much the better :-)

aspender

Original Poster:

1,308 posts

267 months

Thursday 21st May 2009
quotequote all
Eric, thank you! That's the best layman's terms description of the situation I've had so far.

aspender

Original Poster:

1,308 posts

267 months

Thursday 21st May 2009
quotequote all
Incidentally, from what I've read there is no PRSI equivalent to the UK SERPS opt-out. I would certainly want to pay voluntary UK NI contributions (and pay the backdated contributions from June 2007)

So, I'd be in the situation of:

Paying ROI income tax
Paying full ROI PRSI
Paying the income levy
Having to continue to pay into my Irish company pension to avail of the employer contributions
Not continuing company subsidised health insurance which I would not be in a position to use

Pay voluntary UK NICs
Take out (or not) private health insurance in the UK
Think about a private UK pension as well (or other vehicles)

Be subject to the whims of the €/£ exchange rate (although a UK based € account will help here a bit)

Not looking like an option really.