Contracting in Dublin

[kaseyjones]

I'm resident in England and have the opportunity to contract in Dublin. It's a really good opportunity - however, I would get paid in Euros. Does anybody know if I can use my existing business bank account and ltd company- registered in England - or is it beneficial to start up a new company in Southern Ireland. Any advice would be appreciated.

Thanks alot

[Fishface]

you can get a Euro account attached to your sterling business account.

I have one for dollars USD with HSBC - they said they could provide Euros if needed.

It not trouble at all - they give you an IBAN number and that you provide to accounts payable of your client when you invoice.

Your accountant may be a tit and say 'all the extra work...blah blah' - what to calculate the exchange?? but its cheaper than incorporating again - and I bet the Irish will do some withholding tax bullsh!t also.

[meridian]

How long is your contract? Will you become a resident of Ireland?

A company in Ireland is not difficult or expensive to set up (see here for further info), but non-residents are required to pay a bond.

Weigh up the differences (hassle of setting up an Irish bank account vs cost of your client sending Euros to a UK account - will they bill you for the expense?) (Irish corp tax rate of 12.5% and Dividend Witholding Tax rate of 24% vs UK rates of 20% and 10%) etc.

How beneficial anything will be all depends on your circumstances, length of contract, and willingness to deal with the hassle of another ltd in another jurisdiction. Seek proper accounting advice if you want to take it further!!