1st June 2018
Ireland is certainly a hot spot for contractors at the moment. With the latest reports from the European Commission seeing the country’s growth predictions significantly revised up to 5.7 and 4.1 per cent for 2018 and 2019, there’s certainly going to be an increase in demand for professionals across a raft of specialisms. And with skills shortages an on-going challenge in Ireland, contractor experts will likely find themselves in high demand.
While Brexit negotiations continue to cast concerns on the stability of the country’s economy further down the line, there’s certainly a lot to capitalise on in the more immediate future, particularly across some of Ireland’s leading sectors.
The technology field in the country is currently booming as a growing number of firms choose this destination to set up European headquarters, with the likes of Amazon, Facebook and Google tapping into the Irish tech sector. However, with a startling shortage of STEM talent, contract professionals continue to be highly sought after.
Specialist contractors from within the pharmaceutical industry are also in demand across the country, particularly those with experience in the biologics specialism which is one of the fastest growing fields in pharma at the moment.
Contracting in Ireland: the legal bit
When it comes to contract work requirements here, Ireland has a relatively similar set up as the UK, however professionals should not be lulled into a false sense of security as a result of this. As part of its commitment to preventing fraudulent activity, the country has signed up to the Common Reporting Standard, allowing for the automatic exchange of tax information across borders. For freelance professionals this means they could find themselves on the wrong side of the law or facing a possible penalty due to incorrect tax reporting overseas.
Contractors should also be aware that they will need to apply for a Personal Public Service (PPS) number once they have entered the country in order to have access to a medical card, social welfare services and public health services. It’s important that professionals are aware that without this number, they will face a 50 per cent emergency tax on their pay. Once a contract comes to an end, tax authorities must be notified in order to de-register the individual.
Of course, the easiest way to remove much of this administrative burden, reduce risks of non-compliance and free up your time to get on with the job at hand is to use an expert international contractor management organisation. Get in touch with the team today to find out more: