Moving to and from Ireland
Tax guidance for moving to and from Ireland
Moving to Ireland
Each year, we assist clients in structuring their assets before they become tax resident in Ireland. We typically advise expatriates who have been working abroad for several years or individuals who have lived abroad either for family or tax reasons.
Our team also frequently collaborates with foreign individuals moving to or living in Ireland, ensuring they maximise the benefits of the special rules applicable to foreign domiciled individuals residing in Ireland. This often involves structuring or restructuring investment portfolios, bank accounts, and employment arrangements. Correctly structuring these matters in advance can lead to substantial tax savings.
Moving from Ireland
Our expertise in advising Irish individuals living abroad on minimising their tax liabilities has proven invaluable to many of our clients.
One of the primary concerns for our clients recently has been minimising inheritance tax on Irish property. We have advised numerous clients with substantial Irish property holdings on how to structure their Wills, ensuring that in the unfortunate event of their passing, there is little to no inheritance tax payable on their property.
Additionally, we have been assisting wealthy Irish individuals living abroad in navigating the domicile levy, which has been in effect since 2010. This levy imposes a tax of EUR200,000 per year on certain Irish-domiciled individuals with Irish assets of EUR5m and worldwide income of EUR1m. We have helped many clients restructure their affairs so that they are not liable to the domicile levy of EUR200,000 per year.
When it comes to advising clients on the tax implications and opportunities of leaving Ireland and taking up tax residence in other jurisdictions, we have extensive experience. We have successfully guided numerous Irish individuals moving to jurisdictions such as Malta, Portugal, Italy, Cyprus and the UK. Our expertise in this area ensures that clients can navigate the complexities of tax planning and residence changes with confidence and ease. By structuring affairs appropriately before and after the move, significant tax savings can be achieved. Our tailored advice covers everything from investment portfolios, pension planning and employment arrangements, to company matters for shareholders and property ownership.
Irish property
At KTA Tax, we specialise in advising both Irish resident and non-resident individuals on the structuring of the purchase and ownership of Irish commercial and residential property. Our comprehensive advice covers various important aspects to ensure our clients make informed decisions. We provide guidance on the optimal tax structure for holding property, helping clients minimise their tax liabilities and maximise their returns. Additionally, we offer insights into the tax costs associated with property purchases, funding and sale, ensuring that our clients are well-prepared for all associated tax events.
Expatriate tax services
For many years we have been at the forefront of providing specialised tax advice to expatriates, including both individuals and executives moving to and from Ireland. Our expertise includes navigating the complexities of the remittance basis of taxation, ensuring that our clients are always in compliance while maximising their tax benefits.
We offer a comprehensive one-stop shop service for expatriates, covering all their tax compliance needs including a specialist payroll service.
Our services include handling all necessary tax registrations, assisting with PPS number applications, and managing any internal audit procedures required by companies. We ensure that all internal controls are adhered to, particularly in relation to banking, new employees, payroll processing procedures and systematic updates.
For outbound employees, we assist with tax refunds and issues related to split-year residence. For those moving to Ireland, we provide advanced planning support before they take up residence, ensuring they can effectively operate under the remittance basis of taxation while tax resident in Ireland.
We are always happy to have an initial consultation with any prospective clients interested in our services, particularly those who are highly mobile executives. Our goal is to provide a seamless and efficient tax advisory service, tailored to the unique needs of each client.