leaving ireland questions

[zorro]

Age: 30
Spouse’s/Partner's age: None

Annual gross income from employment or profession: Currently 72000 - next year maybe nothing
Annual gross income of spouse: n/a

Type of employment: self-employed

In general are you: saving

Rough estimate of value of home 0
Amount outstanding on your mortgage: 0
What interest rate are you paying? 0

Other borrowings – car loans/personal loans etc 0

Do you pay off your full credit card balance each month? yes
If not, what is the balance on your credit card? 0

Savings and investments:
20000 (approx) credit union
10500 given out on loans to family (mortgages)
9000 BOI Easy Saver account
car (approx 5000)

Do you have a pension scheme? 0

Do you own any investment or other property? no

Ages of children: none

Life insurance: none

Hi all,

Ok ive got a few questions.
I was saving up for a house but plans have changed signficantly this year.
My contract runs out at the end of this year and its not going to be renewed. Have been in touch with a few recruitment agencies and the feeling im getting is there is not much around so im jumping ship and leaving for a year.


Question 1.
OK so the 20k i have in the credit union i want to put somewhere while im away for the year. Its currently making no interest at all as far as i can see. Could someone recommend some where to put it (or do you think i should bring it with me and put it in a savings account abroad)

Question 2.
The 9000 i have in BOI im going to bring with me (rate went from 7% since i opened it to 3.2%) it hasent matured yet so if i take it all out now
would i get any interest at all?

Questions 3.
Ive got a Limited company here. What should i do with it while im away should i close it down altogether or should i write to revenue and say its not trading for 2010. If i come back after a year and look to get a mortgage ill need 3 years accounts - will the banks just refuse me because of what im about to do? As in when/if i come back will i have to wait 3 years before i can apply for a mortgage again?

Question 4.
Ive got health insurance here - can i take a break from it for a year or is it any use to me while abroad. Ive being paying into it for the last 3 years and never even seen a doctor but will i lose all the benifits if i cut it off for the year.

Question 5.
Accountant fees - ive been paying 2200 per year for my accounts - Its too late now but for future reference was this too much to be paying?
I get no advice what so ever from this accountant - rarely replies to my emails plus missed two vat returns during the year (revenue didnt fine me or anything though).
12 invoices a year + vat returns - no employees.
Have been told it will cost 800 euro to shut down the company.

I may have more questions but this is what springs to mind
Many thanks

 

[Mpsox]

I can't comment on your company issues, but re the funds, I would suggest you have some of it in a place where you can access it and potentially transfer it online in case you need "rainy day" money when overseas, Perhaps split it and put €10k you can access and €10k away safely. You are unlikely to earn more then 4% ex DIRT anyway so on the sum you are going to get back is likely to be small whereever you put it

Re Health insurance, worth discussing health cover with your provider whilst you are overseas and what travel insurance you will require and what cover you will have overseas if you continue to keep paying in

 

[Pope John 11]

Question 2.
The 9000 i have in BOI im going to bring with me (rate went from 7% since i opened it to 3.2%) it hasent matured yet so if i take it all out now
would i get any interest at all?

Anything over €5,000 & you only make 1% interest
[broken link removed]
Move it elsewhere

 

[chlipps]

Q3... i think you can contact revenue direct and they can make company dormant for one year and therefore no cost. Your accountant should be able to answer that also

Q4.. probably best to contact health insurance here and get yourself covered for the year away

best of luck

 

[UFC]

Question 1.

Personally I would put it in Rabo. The interest isn't the best but they made 1 billion profit this year and have an excellent rating. Peace of mind is valuable to me at the moment.

Question 4.

I'm not an expert, but I think if you leave and come back, any existing health problems won't be covered anymore. For example, I just had septoplasty but will probably need rhinoplasty at some stage (due to a broken nose). I am going abroad in a few months for a year or two, but will probably keep my health insurance as my rhinoplasty won't be covered by new policies as it is an "old" problem.

Question 5.

Seems excessive. Accounts are fairly straightforward. I used to do everything except the audit. It really is a case of ringing revenue and making sure you are filling out the correct forms.

 

[emma2010]

hwz a loan...lol