Professional Accounting Services in Dublin - Tax Saving, Company Secretarial and Business Planning
Are you considering a move to Ireland for work/business?
You probably have lots of questions about life in Ireland, average salaries and cost of living.
Firstly average salaries in Ireland are €45,000 per year. However salaries in the IT sector are higher at an average of €57,000 per year. At €57,000 per year you will bring home €40,000 assuming a single persons allowances. If you are contracting then salaries are also higher, due to the nature of contracting. Here is a longer article about contracting https://osamcquillan.ie/resources/accounting-tips-from-dublin-accountants/advantages-of-contracting/
Accommodation is relatively expensive in Ireland, and in Dublin you will pay rent somewhere between €750 and €1,000 per month. This is for a room in a house or apartment sharing with others. You should be close to transport to the city centre for that price. You can live outside of Dublin but jobs are difficult to come by and you will face longer commutes in to the city centre.
Getting a personal tax number is relatively easy. You need to go to an Intreo office with your passport and a job offer. Intreo is a single point of contact for all employment and income supports. You will also need a permanent address. Your tax number is used to access all your tax details and you will need to give it to your employer.
Transport in Ireland outside of Dublin is largely car-centred. However in Dublin there are 3 forms of public transport – commuter train ( DART ), tram ( LUAS ) and bus. Most large employers are close to one or more of these forms of transport, however you should check your accommodation and ensure that you can get to work by public transport.
In relation to tax, Corporation Tax is relatively low in Ireland at 12.5% on limited company profits, and so are Social Insurance contributions for employers at 10.95%. Many contractors use a limited company to work through, which means they can shelter income at the 12.5% rate.
Payroll tax ( PAYE ) is charged at 20% and at 40% and this tax is relatively high because it starts at low levels of income compared to other countries. There is also Social Insurance on employees income, which comprises from 4% up to 11% ( This is called PRSI and USC ).
if you are based outside of Ireland and would like to learn more about opening a business click here to order a copy of our guide