Non-domiciled individuals can reside in Ireland tax efficiently. However, failure to plan your move before establishing tax residence in Ireland can have adverse tax consequences.
Here we share some insights on work we have done for non-Irish domiciled individuals over the past 6 months.
Advice to a UK domiciled, Irish tax resident individual on the exercise of share options in his employer’s company, which included liaising with the clients US tax advisor regarding the performance of employment duties in the US.
Advice to an Irish tax resident, US domiciled individual on the drafting of her Irish and US Wills to mitigate the exposure to Irish inheritance tax on the passing of assets to her daughter under her Will.
Advising a UK domiciled, Irish tax resident individual on the remittance of a non-EU life assurance product into Ireland and on the sale of their UK home.
Advising a senior executive on the Irish tax implications of receiving a termination payment from his US based employer including the tax implications of the buy-out of unexercised share options.
Advising a US tax resident, Irish domiciled client on the Irish tax implications for himself and his US domiciled wife of becoming Irish tax resident including advice in relation to the potential restructuring of his US business.
Talk to us about how we can help you. For more details, please contact Tom Mahon, Olga Miller, or Sinead Scanlan.
Please note: The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.
Warren & Partners are a boutique Irish tax and business advisory firm based in Ballsbridge, Dublin. Our experienced-team of tax advisors will create unique tax solutions for your specific business needs.
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According to the CSO, the year to 30 April 2020 saw the highest number of Irish ex pats (28,900) returning to Ireland since 2007. It is vitally important that the ex pat’s financial affairs are managed in a way that the move to Ireland is tax efficient, particularly if they are currently living in a tax jurisdiction with low personal income tax and capital gains tax rates. There are many relevant tax matters which should be considered prior to moving back to Ireland. Our experienced tax team can provide important assistance in this regard.
There are several annual reporting obligations for employers who operate share schemes for their employees which are due for filing with Revenue by 31 March following the year end.
Despite Covid, our corporate tax team have had a very busy 2021 working with clients to achieve their commercial goals tax-efficiently.
