Permanent Employment
Employment Solutions
There are no choices to make. With the NI number you've received from a National Insurance office your employer will deduct PAYE and National Insurance (your contribution to the NHS and government superannuation scheme)
The UK operates a self-assessment tax system. If your employer (the company you physically work for) has been deducting the correct amount of tax you should have nothing further to do. If you have non-employment related income (i.e. dividends, interest, etc) then you may need to complete a Self-Assessment tax return.
2008-09 taxable bands
| Band | Rate of Tax |
|---|---|
| £6,035 | 0% |
| £6,035 – £34,800 | 20% |
| > £34,800 | 40% |
Other Financial Considerations
If you are moving abroad to take up your next job this will require careful tax planning. Not only do you need to ensure you are compliant with your country of domicile (i.e. where you consider your permanent home) but also your country of residence (i.e. the country in which you are working and liable for tax). In the United Kingdom, for instance, you can arrange for your National Insurance contributions to be transferred back to your home country. You also have options with investing overseas to take advantage of your non-domicile status.
Irrespective of which country you are moving to myJobCaddy has strong connections with reliable financial advisors who we can put you in touch with. Please Contact Us to find out more.