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 Working in UK, possible?

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fonatic
post Feb 13 2008, 05:55 PM

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QUOTE(gtghost @ Feb 13 2008, 09:46 AM)
Would someone from the UK confirm if the taxation braket is true? I mean if you salary per annum is higher than 34,600 pounds, you will be tax on the 40% bracket.

http://en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom.
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Yes, that is right. Although the brackets shift annually with inflation, but not by much. Come April 6th, the 10% bracket will be removed and taxation will just start from 20% till the higher 40% rate.

On top of that, there's also National insurance and Council tax to fork out. UK government has also recently announced an increase in council tax (depending where you live, for example London will be just under 2%). Energy prices has also increased over the new year, with various providers announcing 7-15% hikes.

It is a depressing time to be earning pounds with GBP exchange rates and UK interest rates dropping. sad.gif
fonatic
post Feb 13 2008, 06:40 PM

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QUOTE(mIssfROGY @ Feb 13 2008, 11:05 AM)
hmm...so much so how much taxes n etc one gotto pay from their salary? Whats the nett salary after all deductions? Dun sound very good working in UK at all...unless illegally...
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Well it's not all that bad working in UK, if you're thrifty you can afford to safe a fair amount even though you're slapped with taxes left, right and centre. Oh, I missed out the 17.5% VAT in UK.

But to answer your question, a Graduate trainee in Accountancy for example; will earn approximately a gross salary of £22k p.a. The net salary after income tax and national insurance would be just shy of £1.4k per month.
fonatic
post Feb 13 2008, 08:29 PM

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QUOTE(mIssfROGY @ Feb 13 2008, 11:53 AM)
wahhh......lets see, if include makan n rental and transport...left around 400pounds or less?? Hmmm singapore sounds so much better and nearer lehh...
btw...is that good money?? dun sound appealing to me at all  sweat.gif
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I would think £400 would be a fair estimate. I guess if you saved that much a month, that's already more than what most freshies would earn a month in Malaysia. Also, the experience of working in a different culture can be beneficial too. Yeah, living in UK maybe far from family and friends in Malaysia, but the Malaysian community in London is massive and always a house party/drinking/clubbing going on.

I am glad I have moved to Switzerland since January, more benefits and no major bills to pay once I get my salary. thumbup.gif Downside is I can't speak German "yet" and it can prove troublesome at times.
fonatic
post Feb 13 2008, 09:23 PM

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QUOTE(gtghost @ Feb 13 2008, 01:46 PM)
So what do you do in Switzerland?  icon_question.gif
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Getting fat on Lindt and Mövenpick biggrin.gif

On a serious note, training to be an actuary.
fonatic
post Feb 13 2008, 09:58 PM

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Yeap youngkies' way to calculate UK taxes is accurate. Hmmm, but I thought NI is 11% and NI is calculated on your income less the £5225 tax-free allowance if I'm not mistaken.
fonatic
post Feb 13 2008, 10:20 PM

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QUOTE(gtghost @ Feb 13 2008, 03:04 PM)
I think the agents will charge no less than 10k, if I am not mistaken. You can fill up the HSMP form for 2-3k on conversion (400 pounds), with full supporting documents and pray  sweat.gif
According to fonatic, coming april they will go flat out at 22% and 40% removing the 10%. Ouch sad.gif

Anyhow, might try my luck on HSMP. Gotta go take the IETLS first  sweat.gif

EDITED: I think can skip the IETLS if the degree is from UK  rclxub.gif

No professional jobs for Working Holidaymakers?
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Flat 20% smile.gif It actually benefits people earning more than £17k p.a. if I recall correctly.

I have a friend who's been here about 3-4months on a Working Holiday visa, and she's not been able to find anything professional. Mostly, temp jobs involving clerical duties etc. unsure.gif

And IELTS requirement isn't too high I think, you will probably only need a band 6 or 6.5 for work(?) since that is the level most British universities admit students on.
fonatic
post Feb 13 2008, 11:55 PM

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QUOTE(mIssfROGY @ Feb 13 2008, 04:22 PM)
sounds to me after tax and living expenses uk and singapore makes nearly the same? Hmm....dunnoler...if i were u guys, i do contract work becoz of the high pay. MY fren was earning like 300 pound a day as a contractor in HSBC uk. But dunno la...maybe she was just lucky, not so easy.
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IT contractors earn anything from £50/hr and up. Sure it's good money, but you do not get company benefits, pension plans etc. smile.gif And of course the risk of not being "employed" or out of contract for prolonged periods.

This post has been edited by fonatic: Feb 13 2008, 11:55 PM
fonatic
post Feb 14 2008, 02:47 PM

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QUOTE(mIssfROGY @ Feb 14 2008, 06:30 AM)
i agree on this  thumbup.gif
btw...how much is the interest over there? do they tax on savings/fd/unit trust over there?
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Official Bank of England interest rate is at 5.25%, although this varies from bank to bank.. Building societies usually give better rates than banks as well. Of course interest is taxed in the UK, unless you have no income or are non-domiciled i.e. live in UK less than x-days.
fonatic
post Feb 15 2008, 12:35 AM

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QUOTE(simon_wks @ Feb 14 2008, 04:44 PM)
If I'm not mistaken, one of the pre-requsites for a UK employer to employ you with a UK work permit is that you are a UK degree holder.

The whole process of getting a work permit is a nightmare, it took me around 2 months to get it then still you are required to apply for UK entry clearance and stuff.

For those who just want to know how much (net) you will get for each month/year, just go to www.i-resign.com and use the tax calculator.

It's not bad working in UK, I think it's not always about money. At least it's not my motivation to work in the UK.

Regards,
Simon


It's true... However, with £3.80 I can even cook myself a salmon steak with side salad and a glass of diet coke all under 15 minutes too...
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It is true that as a fresh graduate, it will be difficult to get a job if you did not graduate from the UK. But if you have fall under the definition of the Highly Skilled Migrant Program, it is fairly straight forward to get a work permit I think. Below is an excerpt of an article on the Star a year ago:

» Click to show Spoiler - click again to hide... «

fonatic
post Mar 12 2008, 04:59 AM

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QUOTE(ZZZzzz... @ Mar 11 2008, 06:47 PM)
Haha I found this threads seems to be informative,

BTW, I have questions to you guys,

If you see some of the jobs, when they stated this in their requirements:

Excellent Salary + Benefits + Relocation
What does it means by relocation? Are they going to sponsored flight ticket and accomodation there?

OR

Or this simply just meant to be helping you applying for permanent or working permit there?

Actually it is both of them?
Just curious btw.
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Relocation, usually means moving costs for furniture, personal belongings etc. Accommodation will usually be provided in the form of Hotel/B&B till you secure your own house/flat etc.

 

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