Leaving the country - obligations with the house

pasquale83

Folks,

I am considering the option of leaving the country for a job opportunity in the EU.

I have my own house here, bought just last year with a mortgage on it, so I would like to keep it.

My question is: do I need to tell Revenue/Bank I am leaving?

I might rent the property out, maybe just some rooms keeping one for me as I would like to come back home every now and then. What is the taxes I will have to pay as residing outside of the country?

Also: I have a car. Can I keep it here in Ireland registered and keep paying insurances/motor tax as I am living here?

In general: do I need to officially communicate to someone I am leaving the country to work abroad?

Sorry for the multiple questions!

Thanks!

Claw Hammer

pasquale83 wrote: »

Folks,

I am considering the option of leaving the country for a job opportunity in the EU.

I have my own house here, bought just last year with a mortgage on it, so I would like to keep it.

My question is: do I need to tell Revenue/Bank I am leaving?

I might rent the property out, maybe just some rooms keeping one for me as I would like to come back home every now and then. What is the taxes I will have to pay as residing outside of the country?

Also: I have a car. Can I keep it here in Ireland registered and keep paying insurances/motor tax as I am living here?

In general: do I need to officially communicate to someone I am leaving the country to work abroad?

Sorry for the multiple questions!

Thanks!

If you have another income outside of Ireland you will have to tell the Revenue as otherwise you would be taxed on the foreign earnings. You would have to tell your motor insurer where you live as if it comes to light that you are living abroad any claim against the policy may be invalid.
As you will not be ordinarily resident in the house you may have difficulty trying to use the rent a room scheme. In general, unless you are coming back very frequently it would be better for you to rent the entire house out, sell your car and when you come back, rent a car and stay in a hotel.
The costs of taxing, insuring and maintaining a car for a year would be massive compared to car rental costs. The costs of a hotel would likely be less that the rent foregone on keeping a room. It will also be far easier to get the property managed professionally as no agent will want to deal with a room letting arrangement.

What is your tax residency status likely to be? - If you are leaving Ireland, it is likely you will be resident elsewhere.
http://www.citizensinformation.ie/en/money_and_tax/tax/moving_country_and_taxation/tax_residence_and_domicile_in_ireland.html

If renting the house, and tax resident elsewhere, ensure that your tenants are paying Revenue directly the tax due on that rental income.
https://www.taxback.com/blog/non-resident-landlords-and-tax

If the car is not going to be used, you don't need to tax nor insure it so long as it is not on a public road.
http://www.housing.gov.ie/local-government/motor-tax/vehicle-road/qa

Nope, don't need to tell anyone anything really!

68 lost souls

Deleted User wrote: »

If the car is not going to be used, you don't need to tax nor insure it so long as it is not on a public road.
http://www.housing.gov.ie/local-government/motor-tax/vehicle-road/qa

I would look at insuring the car though for Fire and Theft for 2 reasons. One is if someone see's its siting up and sets fire to it or steals it. The second reason is if you have a good no claims bonus and you intend on returning at some stage. If you laps your insurance for 2 years then you will lose and NCB you had.

EDIT:A third I just thought of is that if its not insured and you want to use ti when you come home?

I would declare it off the road though and then you dont need to tax unless you come home and want to use it.

EDIT EDIT: I know when every one was headed off to greener pastures in OZ a lot of people kept log bogs and scrapped cars so the could hold insurance on say a 1l micra and keep their insurance NCB

uck51js9zml2yt

House insurance normally has a limit on how long it can be vacant.
Re the car. In the last month of taxation , declare it off the road and make sure it is off the road! No need to tax it then but you should keep your insurance on it.

Mrs OBumble

pasquale83 wrote: »

What is the taxes I will have to pay as residing outside of the country?

We cannot tell you, because it depends on the tax-rules of the country you are living in. Most likely that country will have a double-taxation agreement with Ireland, so that any tax you pay here (due at 20% I think) can be claimed as a tax-credit where you are living.

pasquale83 wrote: »

Also: I have a car. Can I keep it here in Ireland registered and keep paying insurances/motor tax as I am living here?

I guess you mean "as if I am living here".

You can leave the car in Ireland. If it's parked somewhere long term, make sure your insurance company know about that.

Also to keep the car in running order, you may want to arrange for someone to drive it every so often.

pasquale83 wrote: »

In general: do I need to officially communicate to someone I am leaving the country to work abroad?

You don't HAVE to tell anyone. But you might want to tell Revenue, as you may get a tax refund for this year.

uck51js9zml2yt

Modern cars don't need a run around. A good service when (if) you come home will do. Just make sure your insurance know. 3party fire and theft may do but if anyone vandalises it, it's not covered. Your call . Where it's being stored should decide it for you.

68 lost souls

Analia Substantial Returnee wrote: »

Modern cars don't need a run around. A good service when (if) you come home will do. Just make sure your insurance know. 3party fire and theft may do but if anyone vandalises it, it's not covered. Your call . Where it's being stored should decide it for you.

Probably an idea if you can leave it somewhere secure to leave the handbrake off so it doesn't seize? Diesel cars generally still need a run around no? Or at least the battery might need a charge when you return to it.