Moving from UK back to Ireland to work

trojan

Registered User
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Apart from dealing with Social Insurance and closing bank accounts are there any other material issues that should receive attention before leaving. I know this query may sound a bit vague but i always look forward to the knowledge of AAM contributors.
 
I wouldn't fully close a bank account in the UK until a minimum of one year has passed in case payments or outgoings that you've forgotton about are fully dealt with. For example a UK revenue refund, insurance refunds etc.
 
I wouldn't fully close a bank account in the UK until a minimum of one year has passed in case payments or outgoings that you've forgotton about are fully dealt with. For example a UK revenue refund, insurance refunds etc.

I would go a step further and tell you to leave a bank account open with a few pound in it. You never know you may want to return one day and it will be one less hassle to worry about.
 
+ 1 on leaving a bank account open, just make sure you have signed up to electronic statements so you don't have to worry about mail being forwarded. Review your banking as well and make sure any relevant direct debits are cancelled

Suggest you give you current employer and pension provider (if any) a new Irish address for any future contacts

Set up mail forwarding from your current address or arrange for someone to send it on

Check any subscriptions you have for things like mobile phones, broadband etc for the impact if you close any of them early.

Have a clear out, don't bring a pile of stuff home that you'll end up dumping in 12 months time anyway.
 
Contact HMRC and see if it is worthwhile for you to continue paying voluntary national insurance towards your old age pension.
 
Suggest you give you current employer and pension provider (if any) a new Irish address for any future contacts

.

Further to this just a month ago I enquired of my OH's old pension provider if he's entitled to anything. It took a bit of chasing but I got onto a couple of companies in Dublin and was delighted to find out he's entitled to nearly 3K annually from 65 or a lump sum. Not bad for a couple of years contributions. So the OP ought to make a file and label it 'Pensions' and put in any documentation he has and write a summary of where he worked and when.

(Now I've to chase an AVC he contributed to for about a year as far as memory tells me)
 
+1 on the pension. My father worked in England for a few years in the 60's. It took less than a week to sort out the UK pension. He just phoned them with his UK National Insurance number. He got through to a person who gave him their first and second name as well as a direct phone number to contact them on if he had any issues. It was much easier than dealing with the people here where no contact details or second names are given.
 
Do you have an Individual Saving Account (ISA)? it might be worth thinking about leaving it in place if you don't need the money right now. You will always be free from UK tax from gains on this account, so if you ever go back that'll be a thing. I don't think there is an equivalent in Ireland, AAM peps is that right?
 
Do you have an Individual Saving Account (ISA)? it might be worth thinking about leaving it in place if you don't need the money right now. You will always be free from UK tax from gains on this account, so if you ever go back that'll be a thing. I don't think there is an equivalent in Ireland, AAM peps is that right?

You have to be an UK resident to hold an ISA.
 
"You have to be an UK resident to hold an ISA.". Are you sure about that? My understanding is you have to be resident to CONTRIBUTE to ISA but not to maintain it.

This is from www.gov.uk

6. If you move abroad or die
If you move abroad

If you open an Individual Savings Account (ISA) in the UK and then move abroad, you can’t put money into it after you move (unless you’re a Crown employee working overseas or their spouse or civil partner).

However, you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it.
 
"You have to be an UK resident to hold an ISA.". Are you sure about that? My understanding is you have to be resident to CONTRIBUTE to ISA but not to maintain it.

This is from www.gov.uk

6. If you move abroad or die
If you move abroad

If you open an Individual Savings Account (ISA) in the UK and then move abroad, you can’t put money into it after you move (unless you’re a Crown employee working overseas or their spouse or civil partner).

However, you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it.


yes I stand corrected there however, the rates for ISA are set once a year and if someone is resident abroad they cannot upgrade to a better rate. Currently some of these accounts drop back to as little as 0.01% at the end of the year so really a total waste for anyone living abroad to hang on to them. Overall cash isa's are paying paltry interest rates now and their popularity has dwindled in recent years. http://www.theguardian.com/money/2015/feb/07/cash-isas-fail-to-provide-rich-pickings
 
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