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Home > Ireland - Overseas Factsheet
Ireland - Overseas FactsheetIrelands proximity to the UK has made it one of the most popular contract locations for UK contractors since the introduction of the IR35. Irelands economic boom dubbed the "Celtic Tiger" has made it one of the most vibrant and technology driven economies in Europe. Many multinational companies have used Ireland as their European base because of the favourable corporate tax regime and its position within the Eurozone. Ireland is Europe's largest exporter of software and is second only to the USA. Compaq, Dell, IBM, Intel, Oracle and Microsoft are just some of the multinationals that have operations in Ireland. The international financial service centre, which is based in Dublin's docklands, also holds some of the worlds major financial institutions where groups such as Citibank HSBC and Axa all have a presence. While contract rates are not as attractive as the UK, the absence of IR35 or its equivalent makes it a very attractive location of contractors.
The "Standard Rate Cut Off point" is the level to which an individual pays the standard 20% rate of Tax. All earnings in excess of this are taxed at 41%.
As with most European capital cities accommodation is more expensive in the capital Dublin than elsewhere in the country. Rental costs for a 1-2 bedroom apartment in Dublin city are in the region of €750-1,500 where as in the regions of Cork, Limerick and Galway the equivalent apartment would cost €525 to €1,275 per month. Ireland has a very good public transport system and it is considerably cheaper than its London equivalent. Dublin also has a suburban Rail System called the Dart. If you are an Irish citizen or an national of another EU state, Norway, Iceland or Lichtenstein you will not require a work permit or visa to enter or work in Ireland. All other nationals will require a work permit or a visa. Dublin is less than one hours flight from London. It is one of the most competitive routes in Europe and there are always special offers available. You should expect to pay in the region of €150 for a return ticket, sometimes considerably less. Most major UK Airports have scheduled services to Ireland.
For more information you could try the guides "Go contracting in Ireland" and "Living and Working in Ireland", both of which are available online.
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The Tax year in Ireland corresponds to the calendar year. In general, you will be subject to the Irish Tax system once you have been in the country for 183 days or more. Under the new tax system which came into force in April 2001 – "Tax Free Allowance" and "Tax Tables" have been replaced by "Tax Credits" and a Standard Rate Cut Off Point. Tax credits can vary and are based on each individual’s personal circumstances.