einrac

Brexit may have had individuals considering a move to ireland but as a new forum member , i would like to add my tuppence worth to anyone contemplating the move.
My comments are obviously my own personal views and are restricted to those Brits choosing to retire to ireland with no intention of working.

First consideration is income. which the irish revenue state . is payable in your country of residence i.e. Ireland (unless earning below any tax threshold )

For year 2016: calculated before any allowances
Personal income tax rates
Single person 20% on first €33,800 Balance at 40%
Married couple (one income) 20% on first €42,800 Balance at 40%
Savings accounts _ Deposit Interest Retention Tax (DIRT) 41%
Universal Social Charge 1% €0 to €12,012
3% €12,013 to €18,668
5.5% €18,669 to €70,044
8% €70,045 to €100
Tax credits (only allowable after gross tax calculated)
Single person €1,650 Married couple €3,300
Tax relief for private health insurance capped at €1000
other Medical expenses allowable only at 20%

Standard VAT rate 23%
Excise duty 58 cents per litre petrol (currently 1.17 euros in co. Donegal)
excise duty spirits €17 per litre
excise duty beer €0.8 per litre
excise duty wine €4.24 per litre
Vehicle registration tax (VRT) On the cost of a new car purchase and carried into second hand car prices is considerable

vehicle taxation rates are considerably greater than the UK
All insurance car, home, health are approx 30% higher than current uK rates


Consequently it is easy to state Ireland is a high tax economy for pensioners

On the positive side currently water charges are suspended and property tax for owners is appropriately low as waste collection has to be paid for privately.

Another positive is free bus and rail travel if over 66 and receiving a UK state pension. However I live in Donegal and there are no rail links in the county and the nearest bus service is 25 miles distant.

If there are any British pensioners out there living solely on a British pension , they have my commiserations. with a euro rate currently £1 = €1.10

I would be interested to hear any views on how to mitigate expense of living here - (do not suggest moving back to the UK as I am Irish)

regards
john

Moses2013

When you say "Consequently it is easy to state Ireland is a high tax economy for pensioners" what do you mean by that and where do pensioners pay absolutely no tax? I would never look at taxes and just look at how I personally can live in that country and how I personally spend.


Even if a country has a higher standard VAT rate, doesn't mean you automatically pay more for a product. Best example was when I bought a German washing machine and although Germany has 19% VAT, it was a lot cheaper here in Ireland than on any website in Germany. If you live in Donegal, you will obviously have less choice than someone living in Oxford, so certain things like food shopping (especially processed food) will probably seem more expensive in Donegal. Then again you can probably buy fresh food and get better quality a lot cheaper in Donegal than in Oxford, not to mention housing costs. At the end of the day every location will work out different for each person.

einrac

high taxes means: that your after tax income in Ireland will leave you with precious little to buy your washing machine whatever the base cost of the appliance.
I have worked in saudi arabia no tax and sweden 95% tax and the cost of daily living in both cases balanced out.
Ireland in the sum total of its taxes and not just one tax e.g VAT is a high tax country.
Retiring pensioners usually have the means to buy a house if they sold eg. their UK property selling prices are not all London based and properties in Ireland do not necessarily work out cheaper.
Food quality in UK is the same as in Ireland if one takes the time to source the products.
The bottom line of living as a pensioner is can one meet the basic needs of housing, heating , mobility and food and Ireland is considerably more expensive than the UK.
You cant live on "quality of life" or the craic it takes more of ones money to live in Ireland

Moses2013

But again it will depend how you spend your money, where you live and where your priorities are. I work and coming from the UK I end up with far more money here than back in the UK. I earn Euros and spend Euros, but it is of course different for people with a UK pension now the pound has dropped. But even if you are living in the UK, the person from Scotland will probably find living around London a lot more expensive than back in Inverness depending on their priorities. If I look at the basics red peppers at ALDI UK £0.45 https://www.aldi.co.uk/loose-red-pep...58389005633200


ALDI Ireland €0.39 https://www.aldi.ie/loose-peppers/p/052458004552800


Just one example and if you are trying to buy UK products in Ireland, it will obviously be more expensive here after shipping. Easy to avoid if you buy local or source from other countries. Can't agree with the housing cost, as my mortgage for a 4 bed house is half of what I paid for rent in the UK for a smaller apartment + lower property tax and regarding heating I also don't agree. I spoke to a friend in the UK and he paid a lot more for fire wood than I do. I use a Norwegian wood burning stove and the store easily matched the UK price but in € when I bought the stove. Since I don't smoke and am not a heavy drinker, higher taxes don't affect me.


Reality is that most pensioners are feeling the pinch. Look at Germany where around a third of pensioners only have €700 a month and then many don't own homes and have to rent.


Saying all that, of course it is great for pensioners with a Euro pension who want to buy products from the UK.
If the pound drops further, maybe a lot of Irish pensioners will move to the UK:-).

EndaKenny

Do you have a policy of spamming every single thread on here with nonsense? But then again, you are omniscient as you work in IT in Galway; in other words utopia.
You do realise VAT means; Value Added Tax, don't you?
Pensioners pay the same rate of VAT (tax) as the rest of us; working, retired, on the dole; etc.
UK v Ireland, the latter is higher taxed then the former. You may need to Google the word latter; as English isn't your first language.
Do you know what pisses me off? Polish immigrants like you that come to our country, then think they are in an omniscient position to talk down and patronise an Irish man, living in his own country; and lecture them about tax. Bore off lad.
The OP is 100% correct in what he states. You on the other hand are contributing nothing to the facts he states.
I would show you up more, but you are already doing a great job of that yourself as it is; spamming every thread with your pearls of wisdom.
Living in Galway after a few years, you now know it all about the whole of Ireland don't you? You know more than the Irish born here don't you?
Deluded.

EndaKenny

Welcome home. Take no notice of the fool and his nonsense.
You speak the truth 100%, and anyone retired would do very well to read and think deeply on what you have stated. Its a valuable heads up.
Nice views don't put food on the table, that's a fact.
One other big consideration for pensioners coming home; is the lack of NHS here. In that regard the UK is far better. Here the standard of healthcare is lower than the UK. Health insurance is another tax effectively; something one often overlooks, having had years of free NHS in the UK.
All things considered; as a working man, I was better of in the UK than Ireland. 7 years home and I hate to admit it, but the UK is better than Ireland in many ways. It's only after one has lived and worked in both the UK and Ireland, that one is in a position to weigh them both up.
Anyway, I wish you all the best. Donegal is a lovely place to enjoy your retirement.

Moses2013

Show me up LOL. You've contributed nothing here apart from telling people that Ireland has immigrants. Yes I do know that and it still doesn't mean everything is more expensive. It's a tax and even with a higher tax a product can still be bought cheaper. Just because some countries have a higher income tax, doesn't mean the job in a country with a higher income tax pays less than a country with a lower income tax. As I stated, it's pretty obvious that buying UK products will be more expensive in general. You say the following "Living in Galway after a few years, you now know it all about the whole of Ireland don't you? You know more than the Irish born here don't you?"


And you seem to now know it all about the UK & Europe I assume.

mrhappygolucky

Moses still has his rose tinted spectacles firmly stuck on his head. He's living his dream, let him at it, just hope it doesn't collapse all around him.

Moses2013

Maybe you and Enda should start a house share. You would save money and could rant all day. It's not a dream and just common sense. I know you are a pensioner with a small pension, but I have no sympathy for someone like EndaKenny who moans about foreigners and is too good to take any sort of job. If he's so proud to be Irish, what does he actually do for the community to keep the heritage alive????

EndaKenny

This one is for you.

EndaKenny

Living the dream, working in an IT job in Galway.

Moses2013

I know the song and it's about Phil Coulter's first son with down syndrome.
Sinead O'Connor also did a version.

EndaKenny

You don't say.
Next you will be telling us water is wet.

Moses2013

Not a dream but a job. I certainly don't earn as much as you if you can afford to live in a place like Dalkey. Yes I am the monkey and not the organ grinder like yourself, but hey it's a job.


You can keep whinging about how bad everything is, or get on with life.
You don't want to move to the UK or any other country, so why don't you start your own business in Ireland and offer something to the Irish?

Moses2013

No, water is life.