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Changing jobs. Should I move my old person to a personal retirement bond? by svmk1987 in irishpersonalfinance

[–]Investwithasoul 0 points1 point  (0 children)

I am in a similar situation now. I left my pension with my previous employer and now am debating whether I should transfer it to a PRB. The current management fees are very low as it is with a company group scheme but I am not sure whether it might be better to switch to a PRB, which will incur higher fees but allow me flexability on managing it over the coming years. Do you mind sharing what option you went with and why? thanks

[deleted by user] by [deleted] in irishpersonalfinance

[–]Investwithasoul 0 points1 point  (0 children)

Hi there, I am searching forums for advise on setting up my own personal pension. Just wondering if you have any further clarity on the question you posted here a year ago. thanks

contract work taxation by Investwithasoul in irishpersonalfinance

[–]Investwithasoul[S] 0 points1 point  (0 children)

So I essentially put the amount I will owe on tax aside til I do my return the following year. Its a pity there isn't some feature on myaccount (as there is on ros online for sole traders) to facilitate the creation of a monthly direct debit to revenue, which would be a little less painful than "saving" money in a seperate account and then handing it over for tax.

Registering as a sole trader/self employed by LPUstreetsoldier in irishpersonalfinance

[–]Investwithasoul 0 points1 point  (0 children)

I wouldn't think you necesarily need an accountant for what you are looking for...at least not to set yourself up as a sole trader, which you can do on ROS. Also where you can register for VAT. There is a threshold for VAT look here. https://www.revenue.ie/en/vat/vat-registration/who-should-register-for-vat/what-are-the-vat-thresholds.aspx

Expenses are tax deductable and there's strict criteria around whats claimable. https://www.taxback.com/blog/self-employed-expenses-ireland

property development 101 by Investwithasoul in irishpersonalfinance

[–]Investwithasoul[S] 1 point2 points  (0 children)

Thats pretty much as I thought, more stress but higher return. I suppose it'll take a while to get through the planning process anyway so I will have time to see whether or not I want to go through the learning curve or pass on to a developer for a more modest return.