Moving to the UK - what needs to be sorted taxwise?

seamus

Probably better suited elsewhere, but there are a couple of people here who've done this already.

Anywho, as the title says - There's a good possibility I'll be moving to London early next year, and I'm just curious as to what I'll need to tie up/get sorted.

It'll be a quit job, go to London, find job affair, so do I need to register with the Revenue over there for a PRSI no, or whatever the equivalent is?
I'll still have an Irish postal address, so P60's and the like will go there, but will the Irish Revenue come knocking if they notice I've paid no tax and claimed no social welfare?

In addition, I'll be doing some work in my spare time as director of an Irish-registered company, with all proceeds going back into the company in Ireland - do the UK Revenue need to know about this - I'll be buying certain equipment/software in the UK at the expense of the Irish company?

I don't forsee me being much more than a year over there - is it worth holding onto my Irish bank account, or should I pay off all loans and close up the account before I go?

Any other tips or advice would be more than welcome, I'm hoping I won't have to do it in the end

BuffyBot

Can't answer all the questions but here goes..

It'll be a quit job, go to London, find job affair, so do I need to register with the Revenue over there for a PRSI no, or whatever the equivalent is?

Yes, you need to get a National Insurance number..be warned, its a long, drawn out process, but you do get it eventually.

will the Irish Revenue come knocking if they notice I've paid no tax and claimed no social welfare?

Well they didn't contact me when I left Ireland. When I came back from the UK, I signed on to the dole and they took my NI number so they could link it to my Irish details. I'm sure you could let the Revenue Commisioners know in a similar manner.

is it worth holding onto my Irish bank account, or should I pay off all loans and close up the account before I go?

Personally I would hold on to it, save you the hassle of re-opening it again when you return. It'll also help you keep your existing relationship with your branch, which might be useful when you come back

WizZard

I'm thinking of the same thing seamus, moving to London early in the New Year. However I won't be closing my bank account - partly because I can't afford to pay off all my loans immediately. However, I don't pay fees on my account so that is a factor for me too.

d-arke

hi seamus, im in the same boat. moving to london mid january or so.

theres a couple of good forums regarding moving to london under the work section in the biz thread and the travel thread if that makes sense.

from what i can gather, you'll have to make an appointment with the local dss office. you'll be giving a temporary ni number and issued with the real deal about 6 weeks later, though they tell you it could take 9 months.

the main problem seems to be setting up a bank account, though you probably wont have that problem if you've already got employment as you can get a letter of referral from the employers.

ps. any temp jobs on the go.

Alun

d-arke wrote:

the main problem seems to be setting up a bank account, though you probably wont have that problem if you've already got employment as you can get a letter of referral from the employers.

Just as an aside, it's not exactly the easiest thing in the world to get established with the banks here in Ireland when you move here from "abroad" either. We had a devil of a time getting credit cards despite reams of letters of recommendation from all and sundry. Just to show that this isn't unique to the UK.

incisor71

Advice from a mate in the financial sector who made the move to London three years ago:

If you're intending to set up a UK account, it helps a lot to have an Ulster Bank account in Ireland, as you'll be able to set up an account with NatWest - they're part of the same banking group. You will still need proof of address so get your name on a household bill - even if the service provider has to re-issue a bill for £0.00 - and present it to the bank. You can always change the name afterwards.

Hope that tiny fragment of info is of some help.

d-arke

Alun wrote:

Just as an aside, it's not exactly the easiest thing in the world to get established with the banks here in Ireland when you move here from "abroad" either. We had a devil of a time getting credit cards despite reams of letters of recommendation from all and sundry. Just to show that this isn't unique to the UK.

i can only imagine its the same problem in most countries throughout the world when trying to set up a bank account. i never said that this problem was unique to the uk. the only reason i brought up the banking issue up is that the OP was asking about tax issues and setting up national issurance number which is apparently quite easy when compared to opening a bank account.

Alun

d-arke wrote:

i can only imagine its the same problem in most countries throughout the world when trying to set up a bank account. i never said that this problem was unique to the uk. the only reason i brought up the banking issue up is that the OP was asking about tax issues and setting up national issurance number which is apparently quite easy when compared to opening a bank account.

Actually I have moved a lot around mainland Europe during my career, and nowhere was this process as difficult as it was when moving here. Elsewhere, a letter of recommendation from your bank / mortgage provider / credit card company is all that's required to get you up and running in a week or so. When I moved here I felt as if I was being treated like I was a student applying for my first bank account rather than someone in my late 40's with a perfect verifiable credit history reaching back over 25 years.

Civilian_Target

Setting up a bank account is easy enough in the UK - you just need your passport and proof of address.

Actually, there's a very simple but poorly advertised way to get a National Insurance Number. When completing your job application, quote your NIN as follows:
GENDER+6 DIGIT DOB+T ie. M290296T if you are a male born on 29/02/96

The national insurance people will then contact you after you receive your first paycheque. The problem with this is that your first paycheque will be taxed at 35%, and it won't be refunded for up to 6 months.

Otherwise you have to be interviewed and stuff....