Contractor Tax Planning Ireland

webadviser you are taking the piss big time. Just declare and pay the tax on the money that you remit and leave the rest offshore for the duration. As you say, the non remitted funds will not be taxable in Ireland but trying to got the lot tax free really is asking too much.

tim

Your best bet would be to contact an irish accountant - they'll set you right.
Or you could use a management company like chesterfield
They have a dublin office. I used them with no complaints. They set up irish bank account- offshore euro and sterling accounts and handled all invoices,vat etc.and irish tax return. I basically sent a timesheet and the money ended up in my account. They used to take 5% of invoice as fees.

I'm looking to start contracting in Dublin soon for a period of up to 3 years.

I'm a UK national with no Irish connections (but I love the country!) and I'm

looking to take maximum advantage of the non-remittance tax rules for

non-Irish domiciled people.

Would anyone like to comment on the following:

- Set up a VAT registered Isle of Man company

- Set up a Euro denominated bank account in IOM for the new company

- Raise invoices to the agency/client in Dublin in Euros from the IOM company

- Remit all invoiced funds to the IOM company's IOM bank account

- Arrange a separate personal loan account (with drawdown facility) from the

company's IOM bankers secured against the funds deposited in the IOM

company's account

- Cash withdrawn or cheques written on the personal loan account provides

funds to live on in Dublin but should not count as "income" for Irish tax

purposes as it a loan.

Would this work?

It's sounds easier to rob the bank.

Make sure you don't confuse residency with domicile. It sounds like you will become resident in Ireland after 183 days but remain domiciled in the UK. A lot will depend on the residency of the directors. The Irish taxman might also be interested in the residency of the promotors of the company - that will be you!

By the way there is NO COUNCIL TAX IN IRELAND and up until recently there was a culture of tax evasion.

Good luck with your venture.

IOM

Not entirely sure what you're trying to do. Why the IOM registered company? Are you trying to avoid paying company tax or personal tax? If you're resident in Ireland (which you will be if you work there for 3 years) then you have to pay tax there no matter where your company is registered & as long as your company pays all its earnings to you as wages, it doesn't have to pay any tax at all.

Over the last few years the Irish papers have been full of stories & exposures on people trying to avoid tax by moving money offshore. I wouldn't recommend it.

I'm looking to start contracting in Dublin soon for a period of up to 3 years.

I'm a UK national with no Irish connections (but I love the country!) and I'm

looking to take maximum advantage of the non-remittance tax rules for

non-Irish domiciled people.

Would anyone like to comment on the following:

- Set up a VAT registered Isle of Man company

- Set up a Euro denominated bank account in IOM for the new company

- Raise invoices to the agency/client in Dublin in Euros from the IOM company

- Remit all invoiced funds to the IOM company's IOM bank account

- Arrange a separate personal loan account (with drawdown facility) from the

company's IOM bankers secured against the funds deposited in the IOM

company's account

- Cash withdrawn or cheques written on the personal loan account provides

funds to live on in Dublin but should not count as "income" for Irish tax

purposes as it a loan.

Would this work?

thanks

Bob