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Irish working in UK - should I take all my savings with me?

  • 24-07-2018 05:09PM
    #1
    rinnin
    Registered Users, Registered Users 2 Posts: 179 ✭✭


    Working in the UK for the past few years, I'm now considered "non-tax resident" and as such, I can't setup any new bank accounts in Ireland.  I was hoping to transfer my Irish life savings to another savings account in my same Irish bank that had a better interest rate than my existing savings account (0.02%!). Not sure when I'm planning to return home. Was wondering if anyone here had a similar experience and would I be better just wiring it all over to the UK (with the current rubbish exchange rate - thanks Brexit!) or would I be better off pretending I'm still permanently at my parents address and try to setup a fresh account? Also thinking of divesting from pure savings to some investing (ETFs, Bonds & the like) but again I'm in the same situation with setting up an account and afraid of doing something illegal (even though its my (damn) hard earned cash). Haven't registered for dual taxation purposes to claim back DIRT etc. Thanks in advance.

    Should I move all my savings to the UK? 0 votes

    Yes
    0% 0 votes
    No - you'd be better off keeping it where it is
    0% 0 votes
    Yes - you might get in serious trouble from the tax man otherwise
    0% 0 votes
    No - should be grand trying to set up a new savings account when home next
    0% 0 votes


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