Money - Banking and Tax

There's a few things you need to sort of when you move to London in regards to your money.

You'll have to get a UK Bank account.

You'll have to transfer your money from your home account to your new UK one eventually.

Here we go through the types of UK banks and what accounts you can open, what companies can help you transfer your money from home to the UK and ways you can save money when over in London and when you come home.

You can however organise a UK Bank Account before you move over to the UK, get access to your cards and then transfer your money over so it's there for when you arrive.

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UK bank accounts (4)

Ways to transfer your money (9)

Travel Money Cards (1)

Tax refund companies (5)

National Insurance Number: Tax & Superannuation

You will need a National Insurance number when you start work, so that
a. You are taxed at the right amount
b. Your National Insurance Rebate, which is similar to Superannuation, is claimable once you leave the UK and return home.

Cost of Living in London : London Prices

ok so firstly the best thing to do is grab yourself an Oyster card, which is the cheapest way to travel by bus and tube around London. you can top up an Oyster card with as many pounds as you want, and can get them online, at tube stations and other easy locations. Oyster cards are used in conjunction with tube and bus tickets (not instead of).

Opening a UK Bank Account

Opening a UK bank account is not as difficult as it use to be, that’s for sure. Once apon a time it use to be horror story after horror story but these days, the UK banks have gone ahead and decided to make it a little easier on expats.

Getting Good Financial Advice

A good financial advisor will demystify the financial market and break down all the jargon into concepts that you can understand, guiding you through the huge range of products so that you can make the best use of whatever resources you have and understand the impact of the financial decisions you make.

Moving to the UK: your credit rating

Your credit score is the result of the 'credit check' potential lenders carry out before making a decision on an application for a financial product (a bank account, a credit card or a mortgage, for example). They base this score on your previous experience with credit, as recorded in your credit history.

Getting a UK Credit Rating

When you apply for credit with a company in the UK, it will (with your consent) check your UK credit score through a credit reference agency of which the three main ones in the UK are Experian, Equifax and Call Credit. These companies hold your credit report, in which the information about your credit status comes from banks, finance companies, credit card suppliers, department stores, etc

The Hard Stuff (Part 1)

One of the most difficult things to get in the UK is a bank account. Because it’s a financial hub, the country is very careful about whom they give accounts to. When I got here, I had to open a Passport account at HSBC because I had no previous credit history in the UK. I also had no fixed address because I was living at a friend’s house.

Saving for many rainy days.

As I’m just about to get ready for another day of work at my post-exam, pre-graduation job in hospitality, I again have to remind myself that all these long days and nights spent serving others food and being lovely all the time, despite the disgusting humidity, will totally be worth it in the end. It’s all in the name of moving to London.

1st Contact National Insurance Number Application

The National Insurance Number (NINO) is the number used by the government to track your taxes and national insurance contributions. Everyone who wants to work in the UK needs one and you must be in the UK before the government will issue your number. If you do not have your NI number you will be paying emergency tax.

Saving Money on International Calls

Calling friends and family 10 years ago was always a rushed affair due to the mammoth phone bills one could rack up after 10 minutes of chatting. Nowadays, with the proliferation of the internet and smartphones, calling abroad has become extremely cheap, and in some cases, completely free! If you still find yourself spending loads of money making international calls, using VOIP could help you save considerable amounts of money.

Saving money in London

Everyone is under the assumption that London is an expensive place to live in.

However we got advice from the UKs number 1 voucher site MyVoucherCodes.co.uk to understand how to make bigger and better savings, how to find them and how to make the most out of them without a decrease in quality of life.

10-point guideline for choosing an umbrella company

By choosing an umbrella company, most of admin duties are taken care of for you. All you need to do is register online with your chosen umbrella service, then log your timesheets and send in expense claim forms. Your umbrella company takes care of all the administration and legal compliance issues, including processing your payment after making the correct deductions and paying the correct taxes to HMRC. This allows you flexibility so that you can focus on finding opportunities and do the actual w

when you sign up to Tranzfers to get your money over to the UK you get your

1st Transfer for FREE.

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