Living in the North, Working in the South

Started by Tony Baloney, October 14, 2019, 07:10:12 PM

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Tony Baloney

Anyone on here travelling south over the border for work? I'm considering taking on contract work in the south and continuing to live in the north. I have been told a different story by 2 accountants about the tax burdens etc. whilst operating as "a company". Anyone got the actual FACTS on the most tax efficient means of operating or recommend an accountant who knows?! I would have thought this would be simple as I'm sure it's a well trodden path.

laoislad

Typical Nordies coming down here taking our jobs....
When you think you're fucked you're only about 40% fucked.

laoislad

Send Shamrock Shore a PM no better man to help.
When you think you're fucked you're only about 40% fucked.

Tony Baloney

Quote from: laoislad on October 14, 2019, 07:34:47 PM
Typical Nordies coming down here taking our jobs....
If youse start building a wall I'll be staying up here.

Milltown Row2

Quote from: Tony Baloney on October 14, 2019, 07:10:12 PM
Anyone on here travelling south over the border for work? I'm considering taking on contract work in the south and continuing to live in the north. I have been told a different story by 2 accountants about the tax burdens etc. whilst operating as "a company". Anyone got the actual FACTS on the most tax efficient means of operating or recommend an accountant who knows?! I would have thought this would be simple as I'm sure it's a well trodden path.

A work colleague of mine did it, had a clinic in the north one in the south, paid tax through the company, as far as he was aware all good, ended up with a hefty tax bill that he had to pay straight away! Had no idea.

What was very lucrative at the start turned out to be pretty expensive in the end, must be a good few accounts on here, due how f**king boring the site has become  ;)
None of us are getting out of here alive, so please stop treating yourself like an after thought. Ea

balladmaker

I'd assume that if you're based in the north, have income incoming from the south ... as you're tax resident in the north, you declare your southern income via your yearly self assessment tax return to HMRC?  As for a company, no idea.

Enlist an accountant for sure to keep you right.

Tony Baloney

MR this is my issue. A fella I know is doing it and says it's all gravy, but when I explained his setup to an accountant, the first thing he asked me is "has he been doing it for a full year?" He also reckons he'll be in for a shock!

Leonardo

I work in construction- main contractor takes 35% RCT Tax off my invoice and pays to ROI Revenue. I then have to reclaim it.

marty34

Quote from: balladmaker on October 14, 2019, 07:49:22 PM
I'd assume that if you're based in the north, have income incoming from the south ... as you're tax resident in the north, you declare your southern income via your yearly self assessment tax return to HMRC?  As for a company, no idea.

Enlist an accountant for sure to keep you right.

If you were working in south and living in south during week but coming home at week-end, would you have to declare that to HMRC?

Rossfan

Quote from: laoislad on October 14, 2019, 07:34:47 PM
Typical Nordies coming down here taking our jobs....
And trying to not pay tax then ::)
Davy's given us a dream to cling to
We're going to bring home the SAM

balladmaker

#10
Quote from: marty34 on October 14, 2019, 08:00:57 PM
Quote from: balladmaker on October 14, 2019, 07:49:22 PM
I'd assume that if you're based in the north, have income incoming from the south ... as you're tax resident in the north, you declare your southern income via your yearly self assessment tax return to HMRC?  As for a company, no idea.

Enlist an accountant for sure to keep you right.

If you were working in south and living in south during week but coming home at week-end, would you have to declare that to HMRC?

I'd say you will pay in the south, then claim back via double taxation in the north .... if southern bill is less than northern, you'll have to pay different to HMRC .... I assume.  Either way, you have to pay.

Armagh18

Quote from: Leonardo on October 14, 2019, 07:58:39 PM
I work in construction- main contractor takes 35% RCT Tax off my invoice and pays to ROI Revenue. I then have to reclaim it.
Speak to your accountant, should only be 20% you are losing.

Armagh18

Quote from: marty34 on October 14, 2019, 08:00:57 PM
Quote from: balladmaker on October 14, 2019, 07:49:22 PM
I'd assume that if you're based in the north, have income incoming from the south ... as you're tax resident in the north, you declare your southern income via your yearly self assessment tax return to HMRC?  As for a company, no idea.

Enlist an accountant for sure to keep you right.

If you were working in south and living in south during week but coming home at week-end, would you have to declare that to HMRC?
As far as I know, if you're in the south after midnight you're classified as tax resident down there.

marty34

Quote from: Armagh18 on October 15, 2019, 08:11:05 AM
Quote from: marty34 on October 14, 2019, 08:00:57 PM
Quote from: balladmaker on October 14, 2019, 07:49:22 PM
I'd assume that if you're based in the north, have income incoming from the south ... as you're tax resident in the north, you declare your southern income via your yearly self assessment tax return to HMRC?  As for a company, no idea.

Enlist an accountant for sure to keep you right.

If you were working in south and living in south during week but coming home at week-end, would you have to declare that to HMRC?
As far as I know, if you're in the south after midnight you're classified as tax resident down there.

Be hard to be taxed twice!