ROI or NI??

mrfusto

Hi lads,

first thread for me so don't really know if it's the right section...

I have a question in my mind and I have no clue about the right answer..recently I went to a job interview and 90% I got the job...

now the job is right on the border between ROI and NI...I live in Ireland since 5 years and I know pretty much how is working with tax, car, insurance, rent etc. etc.

now with that job I have the possibility to move in NI (UK) so I don't know eventually how is working there regard tax and other things...

is the car insurance cheaper in the north? how is the tax rate there? I guess they follow the UK tax rate isn't?

In addition I would like to open a partnership company here in Ireland and now I have also the possibility to open it in NI-Uk...how is the tax rate for soletrader or partnership there? is 21% like in ROI?? is it easy like in Ireland (I mean CRO website and TR1 form) ??

If you have make a choice where to live between ROI and NI what do you choose and why?

I hope to get a lot of answers helping me with my questions...

If this is not the right section I'll ask to the MODs to move it into the proper one...

Thanks guys

Mr. Loverman

I can't answer all your questions, but the dole is much higher in Ireland and you will only be entitled to it if you are paying your tax here (for the past two years I think). So this could mean if you get laid off in three years you could be forced to take the low NI dole.

mrfusto

well sincerelly I don't care much about the dole...I'm/was here to work so... what about the other questions?

cheers

Mr. Loverman

mrfusto wrote: »

well sincerelly I don't care much about the dole...I'm/was here to work so... what about the other questions?

cheers

You might need it if you can't get a job in three years though!

Best of luck whatever you decide.

Delancey

Depending on age there can be big differences in car insurance - NI is very , very expensive for young drivers - possibly dearer than the Republic.

If residing in the Republic then you have to pay Tax here - in effect you will pay UK Tax as your employer is UK but for example if your Irish Tax bill was 10,000 euro and you had paid the equivalent of 9,000 to the UK then you would only owe 1,000 in the Republic.
If the sums were reversed unfortunately you would not , I believe , be entitled to a tax rebate from the UK.

Your questions may be better answered in the Tax forum.

mrfusto

ok I'm 30yo...so I guess the car insurance could be cheaper than ROI...

another thing...about setting up a company...can I set up an irish company if my physical address is in NI? and what about the taxation in UK for the soletraders?

it's strange but most of my friends say it's cheaper in NI (food, to buy a car, electricity etc.) is it true?

help!!

doolox

I have on two occasions used window installers from NI to do jobs for me and they are always cheaper than the ones in the south. The local council here used NI contractors for road works etc so they must find them less expensive as well.

mrfusto

brilliant...thanks...

anyone knows how is the taxation for sole trader companies there? I know in ROI is around 21%...

then where I can find all the info how much cost to open a new company?? in ROI though the CRO website is 20€ for the online applications...

cheers

Delancey

mrfusto wrote: »

brilliant...thanks...

anyone knows how is the taxation for sole trader companies there? I know in ROI is around 21%...

then where I can find all the info how much cost to open a new company?? in ROI though the CRO website is 20€ for the online applications...

cheers

Yoiur question is unclear , there is no such thing as a ' Sole Trader Company ' - a business is either incorporated with Limited Liability and thus subject to Corporation Tax or it is operated as a Sole Trader and thus liable for Personal Income Tax as opposed to Corporation Tax.

Apart from perhaps registering for VAT there really is very little paperwork involved in starting up a Sole Trader.

mrfusto

well I was talking about a sole trader... I know that in ROI you need to register the name of the company (CRO website) for 20€ and then associate the company to a bank account and that's it... really easy...the taxation for ROI is 21% as far as I know and no VAT till 35k of sales...

now that is the process for ROI...what about NI? taxation? how much to set up a sole trader? what's the process?

cheers

bain_triail_as

http://www.businesslink.gov.uk/bdotg/action/layer?r.s=tl&topicId=1073858805

pakb1ue

I had lived in ROI all my life until March last year when I moved to Belfast.

I pay 32% tax (12% is for "Free" health care) and my company has an office in Dublin so for the same position I would be €5,000+ better off. If you live in the south but work in the North you can claim back that 12%.

It is a lot cheaper living in NI like my rent is only £240 a month and any time I head down to Dublin (which is a lot) I am always shocked at the price of stuff.

mrfusto

pakb1ue wrote: »

I had lived in ROI all my life until March last year when I moved to Belfast.

I pay 32% tax (12% is for "Free" health care) and my company has an office in Dublin so for the same position I would be €5,000+ better off. If you live in the south but work in the North you can claim back that 12%.

It is a lot cheaper living in NI like my rent is only £240 a month and any time I head down to Dublin (which is a lot) I am always shocked at the price of stuff.

fantastic this is the kind of info I need...

do you suggest to live in NI or ROI? I mean if your job is close to the border where do you live in ROI or NI? How much high is a medium stipend? I mean in ROI a good stipend is around 30k which you can live good in my opinion...

how is in NI? 25k? can you survive with 25k sterlings?

cheers

Mance Rayder

25 K Sterliing is plenty if you don't have any major responsibilitys. Your weekly grocery bill will be MUCH lower than here. Going out for a pint will be much cheaper etc etc I'm speaking from someone who has lived in England, although I am sure NI is similar. Also the NHS is much better than our HSE.

mrfusto

CiscoStudent wrote: »

25 K Sterliing is plenty if you don't have any major responsibilitys. Your weekly grocery bill will be MUCH lower than here. Going out for a pint will be much cheaper etc etc I'm speaking from someone who has lived in England, although I am sure NI is similar. Also the NHS is much better than our HSE.

good but don't you think 32% of tax on your stipend is a bit high? another question...I would like to have a child...do you think that 25k is good enough? in ROI for example you have good money back if you have a child...what's the situation in NI-UK? If I'm not wrong every year you can get around 3200€ on your tax back if you have a child...isn't? how is in NI?

thanks man

Mance Rayder

Well tax may be high but at least you get a decent police service, fire service and health service for that.

POCKET.ROCKET.

Check out http://www.nibusinessinfo.co.uk

A government run website for everything business related in Northern Ireland.

Delancey

CiscoStudent wrote: »

Well tax may be high but at least you get a decent police service, fire service and health service for that.

+ 1 , NHS is 10 times better than the excuse for a Health Service the HSE is.

mikemac1

So you're renting OP?

Rent in NI, well at least Belfast when I was there is far cheaper then here.

Maybe that's down to rent allowance keeping rent higher while housing benefit is lower.
I suspect so but that's for another thread

I'd stay up North if I were you.
Cheaper cost of living

writhen

Check out this site -

http://www.borderpeople.info

May be of help.

pakb1ue

mrfusto wrote: »

fantastic this is the kind of info I need...

do you suggest to live in NI or ROI? I mean if your job is close to the border where do you live in ROI or NI? How much high is a medium stipend? I mean in ROI a good stipend is around 30k which you can live good in my opinion...

how is in NI? 25k? can you survive with 25k sterlings?

cheers

I would live in NI tbh seeing that you will be working there but that said my home town is 10 minutes drive from NI and if I got a job 10minutes away I would live in ROI.

I am in a graduate position which in the Dublin office the starting wage is €30,000 but in Belfast its £21,500 and I can survive on that quite well like so far I have gone on two holidays, got a new laptop, new smart phone, got a bike with enough money to buy a car (well a crappy car). That said guys I work with (who are on the same wage as me) are living on pay cheque by pay cheque but its just down to how you manage your finances.

mrfusto

wow thank you guys...you're precious...really..

I'll let you know what i'll decide...in the meanwhile if I need to work close to the border do you suggest Belfast for living? I would like to stay in a city where there is something to do instead a dead town close to work...

which is the best website for renting? daft?

cheers