Tax on Small Buisiness UK Live in Ireland

B

B1e2r3n4a5rd

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If one has a small buisiness in the Uk as a sole trader but live in Ireland what TAX does one have to pay in respect of this buisiness.

Where does one have to pay tax

What about tax credits and Tax free allowances etc?
 
An Irish resident is subject to tax on their worldwide income.

If the UK business has a "permanent establishment" in the UK the profits will be liable to UK tax aswell.

The UK tax paid will be allowed as a credit against Irish tax on this income. The credit cannot be higher than the Irish tax on the UK income.

An Irish resident is also entitled to the normal tax credits and SRCOP,
 
Thank you very much Eldorado.

If I take a salary from the buisiness, while I am still resident in Ireland, can I chose in what country to pay tax on it or am I committed to pay tax in one country or in both countrys?

Thank you again.
 
As a sole trader you cannot take a salary. You are subject to income tax on the profits the business makes.
 
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