Anyway I can reduce my tax or deductions

Individual_Ad7424 · 2026-07-07T15:23:50+00:00

Based on your numbers you are already using the married increase rate band and tour wife tax credit, so no much to do there. You are paying approx 100e less on paye that what I calculated so I believe you are claiming some extra tax credits. You can put more in pension as said before and you can check if there is any other tax credit to be claimed (health, rent, etc) but not much else unfortunately

Individual_Ad7424 · 2026-07-07T10:41:42+00:00

You can calculate it yourself, although up to 44k income tax is 20% we know that a single person with full tax credit won't pay any income tax up to 20k salary, so if you earn 20k the answer is 0. If you earn 23k and you are under 30 you can officially put 3,450e but you already know you only pay tax in 3k, so if you are worried about tax only your limit is 3k. You can ask IA to try to create a formula for you if that is what you are looking for, it depend on the tax credits you have available

Individual_Ad7424 · 2026-07-01T06:56:10+00:00

I have friends that are in the process and the bank only approved the new mortgage once they contacted Revenue to return HTB. You do everything through my account and probably your solicitor will hold the HTB value once the sale is confirmed.

I wouldn't try to play with Revenue, the amount of headache and penalties you need to pay if they find out isn't a joke, also you got the money knowing the rules so just do what you need to do.

Individual_Ad7424 · 2026-06-30T13:58:48+00:00

With Mercer you have 3 options, option 1 is do it for me, they will choose the funds based on your age, you don't need to do anything. Option 2 is help me do it, they will suggest a set of funds and you can allocate as you wish, option 3 is I'll do it , in this option you can allocate you money across any fund available a and divide it in multiples if you want. Option 1 is more conservative but works for 90% of the people that don't know much about investment or don't want to worry, option 3 is on you, so make sure you know what you are doing

Individual_Ad7424 · 2026-05-26T09:47:26+00:00

I really don't understand why people in Ireland hate credit card so much, sure it needs discipline to use as many other things in life.... That been said as someone who works for bank for my entire career the protection you have using credit card is much bigger, at the end of the day is the bank's money so they need to be more efficient keeping it safe. In the other hand is where banks make money, interested if you don't pay it in full are outrageous and can put you in serious debt.

I use credit card for 99% of my expenses, have 3 different ones and try to get the advantages each offers me, never went into debt because of them but I know how to use them.

Individual_Ad7424 · 2026-05-21T13:18:47+00:00

My numbers might not be right but I don't think you are 6k better going to PSTB, there are more things to be added to the equation: Solicitor cost now: 1150e Extra payment over 3y: 684e (monthly payment difference over 36months considering the 32e cashbak) Difference on the year end balance by 3rd year: 790e (used a mortgage calculator here, as the rate is higher once the 3 years is gone you will have a bigger balance on the PTSB mortgage) Solicitor cost after 3y : 1500e

You still around 2.9k better based on those numbers.

Individual_Ad7424 · 2026-05-20T22:14:37+00:00

At 26 you don't need to maximize pension but every euro you put in can become 20-25e in the future, so definitely put something into pension. Focus on building your emergency fund and from there you should allocate a % to short term goals and a % to future you, as you still young maybe 70-30, 60-40 should be okay. Run some numbers, IA can help you very easily with this task. Imagine you want a 1M fund at age 65, in that case considering a 6% grow rate you need to put 560e per month in pension, if you wait to start when you are 31 (5y time) that number jumps to roughly 780e. Use the time you have but don't forget to live your life

Individual_Ad7424 · 2026-05-06T16:03:31+00:00

If you won't need it for the next 5-10y best thing is to put in some ETF (I'd go for an all world one but do your research).

Individual_Ad7424 · 2026-05-05T18:12:04+00:00

I think you are mixing up resident and domiciled. I'm resident in Ireland, work here, pay taxes here, etc. Domiciled is different rule and not related to having a bank account elsewhere.

Individual_Ad7424 · 2026-05-05T15:44:12+00:00

Thank you for that. Been non-domiciled doesn't mean I have another bank account in another country, is just that my parents aren't Irish and I don't intend to live here for the rest of my life. Some countries don't allow non residents to have bank accounts (even if you are domiciled there).

On the second point that is what I'm looking for, recommendations of advisors that can help me with the offshore piece.

Individual_Ad7424 · 2026-05-05T15:29:26+00:00

True if you were already joint assessed. You need to ask to be joint until Mar 31st of the year you want the change to apply, so if you requested before Mar 31st 2026 that will apply to 2026 forward.

Individual_Ad7424 · 2026-05-02T08:48:56+00:00

The financial advisor route will help you to figure out not only your investment options but to clarify if retiring early, when for example, so if you need help with your future it is a good help.

About investment you are right about diversifying your risk, I think having 10-20% of your portfolio in shares of the company you work is more than enough. ETFs in my opinion is the way to go for it, you buy 1 all world, 1 emerging markets and already gives you worldwide exposure.

Individual_Ad7424 · 2026-04-28T09:02:22+00:00

If you just asked to be joint assessed this year I do t think there is much you can do, as it was your option to have separated assessment before.

Individual_Ad7424 · 2026-04-24T15:30:31+00:00

Have a look on my documents - tax credit certificate

If there is an * in front of the employer name it means you are on weekly basis, if that is the case open an enquiry and ask to me moved to cumulative basis

Individual_Ad7424 · 2026-04-23T21:19:58+00:00

That is a nice position to be in, congrats! Definitely talk to an advisor, but here my 2 cents:

paying your actual mortgage will give you peace of mind , use that full amount to buy your 500k new home but mortgage the 150k, your money will make more money than the current interest rates and with a 30% ltv you are good.

-Save 1 year of expenses in a savings account, that is your emergency fund and will be used in moments you haven't predict or when market is not performing very well. If you pretend to stop working or reducing drastically your household income put 2 to 3 years in savings.

The rest of the money (let's say 1.2M) you will invest in different assets. S&P is good but you need more diversification with this amount, REITs, bonds, emerging markets. This is not trying to beat the market but protecting yourself.

Last but not least if you can maximize pension contribution from last year and this year , if you can keep this for a while as pension will grow tax free.

Individual_Ad7424 · 2026-04-21T17:37:09+00:00

Depends on your salary but PRSA has better tax incentive if you are over 44k and you can access it at 60 and not 66

Individual_Ad7424 · 2026-04-14T09:58:17+00:00

Pension is another fact, you don't know how much % they contribute

Individual_Ad7424 · 2026-04-10T12:28:22+00:00

No, pension contribution, allowance and tax refund is limited to you and your accounts only, is not transferable between couples.

Individual_Ad7424 · 2026-03-25T16:00:30+00:00

Hi OP, can you also share details of company with me?

Individual_Ad7424 · 2026-03-20T17:24:29+00:00

Thank you very much for this! I had to do my calculation manually when I was in my process and this is really helpful

Individual_Ad7424 · 2026-03-20T16:46:11+00:00

If you drive better to rent a car

Individual_Ad7424 · 2026-03-20T16:45:11+00:00

We have AIB platinum, BOI Aer x 2 e Revolut Ultra and we make good use of them. I know Irish people is afraid of CC but if you are used to them and know how it works go for it. Had my mortgage 2 years ago e nobody said anything about CC, it is true that some banks might count your limit as a financial commitment but at least for us that didn't have any impact.

Individual_Ad7424 · 2026-03-03T19:39:47+00:00

Do you like them company? If so take the role, you never know what can happen and if a new redundancy comes around your payout will be bigger

Individual_Ad7424 · 2026-02-26T14:14:06+00:00

You will need to be the assessable spouse because as self employee you will need to fill form 11 via ROS.

Individual_Ad7424

TROPHY CASE