Leaving the UK to move abroad? Don’t forget to tie up those loose ends.

It can be quite a chore trying to understand the tax consequences of leaving the UK. Every year thousands of people leave and most never give much thought to whether they still have obligations to HMRC; worse still, many leave and never reclaim overpaid tax. Here we’ve put together some top tips to help you avoid the most common mistakes:

One of the most common mistakes made by taxpayers leaving the UK is the failure to claim a refund of overpaid tax.

All UK taxpayers (and some non residents) are entitled to a UK Personal Allowance (basically a tax free allowance). For PAYE taxpayers, their personal allowance is split into weekly or monthly amounts and offset against their weekly or monthly wages. A taxpayer who leaves the UK part way through a tax year therefore does not get the full benefit of their personal allowance and in most cases, overpays UK tax.

To reclaim the overpayment a claim must be submitted to HMRC. Many departing taxpayers however are not aware of this and needlessly leave their money with HMRC.  The timeframe for making this claim was 6 years but it is being revised down to 4 years very shortly.

Self–employed (self assessed) taxpayers on the other hand are subject to a different method of tax collection. Rather than the tax being taken via PAYE, they must file a Tax Return annually, declaring their income and working out their tax liability.

The tax itself is paid as follows:

  • 31st Jan – 1st Payment on Account (POA);
  • 31st July – 2nd POA;
  • 31st Jan next – Balancing payment – the difference between the amount paid as POA’s and the final liability becomes due.

A self-assessed taxpayer who leaves the UK part way through the year may therefore have overpaid tax as a result of their POA’s. The POA’s are an estimate of the current year liability based on the prior year. If a trader ceases part way through a year therefore, the POA’s are likely to be excessive.

Any overpaid tax should come out in the wash when the taxpayer files his final Tax Return but it’s important to remember that the Tax Return must be submitted.

This is only relevant to taxpayers leaving the UK and letting their UK property. It is however an immensely common area of confusion.

The term non-resident landlord (NRL) is a misnomer; in reality someone is classified as an NRL if they let UK property and their usual place of abode is outside the UK.

The main consequence of being an NRL is that the tenant or letting agent is legally obliged to deduct basic rate tax (20%) from the rental income and pay it direct to HMRC. The problems with this are two-fold:

  1. As the 20% is deducted from the rents before any allowance is given for tax deductible expenditure (e.g mortgage interest), it will be in excess of the real tax liability.
  2. While this excess can be reclaimed, it will only be received after the Tax Return has been submitted. The result is a loss of cash flow.

The above scenario can be avoided by registering with HMRC’s NRL scheme. Once a taxpayer is registered, the tenant/letting agent is not required to deduct tax at source. The NRL can receive the rental income gross. A word of warning though, while the NRL does allow for gross rent receipt, it does not exempt the income from UK tax and the NRL will need to file a UK Tax Return annually and pay the corresponding UK tax due.

Finally, most countries operate a Residency tax system – this means they levy tax on their residents’ worldwide income. While some countries (notably Hong Kong) operate a Territorial system, the majority are Residency based. As such, a taxpayer departing the UK is likely to be subject to tax in his new home country on his worldwide income – including his UK rental income.

In these scenarios advice should be taken on the specific rules in the foreign jurisdiction but in general there should be some form of double tax relief available in that country for UK tax paid on the UK rental income.

  • Sort out your Bank Accounts

For those UK taxpayers leaving the UK but intending to retain their UK bank accounts, one aspect often overlooked is the fact that it is possible to receive interest without the deduction of tax.

Savers who are ‘not ordinarily resident’ in the UK can complete Form R105 to receive their interest without UK tax taken off. Unfortunately Banks are not required to accept a R105 so not all Banks offer this facility.

As in the case of the UK rental income discussed above, while it may be possible to avoid UK tax, advice should be taken in the foreign jurisdiction to which the taxpayer is emigrating as to the tax status of the UK interest in that country.

  • Pension Issues

The whole area of pensions is highly complex and confusing to many taxpayers and this is not surprising given the number of changes we’ve had since April 2006.

While there are many things we could say about the good and bad of migrating to a QROPS (Qualifying Recognised Overseas Pension Schemes), that would be an article in itself.

Instead we’re just going to focus on the scenario where a UK taxpayer is receiving a UK pension and moves overseas.

As a general rule, non residents of the UK are taxable on their UK source income. That said, many Double Tax Treaties (DTT) specifically address the topic of pensions. Double Tax Treaties do exactly what they say on the tin – they are bilateral agreements between countries which ensure the residents of those countries do not suffer double taxation.

The pension article in most DTTs allocates the taxing rights to the country of residence. A good example is the UK-Australia Treaty.

So as an example, consider a UK taxpayer in receipt of a UK pension who moves permanently to Australia: in the absence of the DTT, the UK pension would be subject to UK PAYE at source. However, because of the terms set out in the UK-Australia DTT, the UK pension is in fact exempt from UK tax but taxable in Australia.

In order to ensure the pension is not subject to UK PAYE the correct form must be completed. The forms are available for download at http://www.hmrc.gov.uk/cnr/app_dtt.htm

A taxpayer who has moved to Australia but has not filled out the correct form is likely to be receiving his pension net of UK Tax through PAYE. As a result, he will have overpaid UK tax. Fortunately a refund can be claimed so all is not lost. The deadline for claiming the refund is 4 years.


How Do New Graduates Get Jobs in a Down Economy?

The unemployment rate is on the rise. Nearly 25 million people in the European Union are finding it hard to make money as they have no jobs. Companies are not hiring as they were used to. How on earth are new graduates supposed to find jobs in this touch scenario?

7 Tips to Find Jobs for Fresh Graduates

#1: Try Harder
OK, this might sound clichéd, but how do you expect to find jobs unless you go seeking for them? When the economy is down, you can’t expect employers to come behind you with jobs. Agreed that most companies look for the best candidates, but when there are so many options available, why do they need to go out looking to hire people?
Now, most people might get the idea that going to job portals, submitting your resume and then waiting patiently for calls to come in is the key to get more exposure and better jobs.

However, it’s not that simple. Recruiters receive hundreds of resumes each day and to sort through all those resumes and finding the ideal candidate is just not that simple. So make it easier for them to identify your resume as a prospective candidate.
Instead of copy pasting your friends resume (who themselves might have copied it from elsewhere), try to create your own. Don’t try anything ultra creative unless you are applying for a very creative position. However, there are simple things you can do to a resume (like wording differently, reshuffling the format a bit, using a different yet readable font), and more. Customize your resume with the job title, position and even the industry of the company you are applying to.

#2: Use Social Media Smartly
Facebook and Twitter can be good ways to get in touch with your friends and relatives. However, you need to be careful about what you share on social media. Most employers now do a social media check of employees before they hire them. So don’t put out anything you might not want your potential employer to see!

#3: Take Up Internship Opportunities
Are you a fresh graduate looking for a full time job? Don’t be adamant that you’ll take up only full time positions. Part-time as well as internships are also good opportunities as most of the time you’ll be able to convert it into a full time position.

#4: Tap into Your Network
Most of the good jobs are gone before they ever come to the market. The best way to get job interviews even before hundreds of people start applying to the same opening is through your network. Tell your friends, ex-colleagues, and relatives that you are looking for a job. Even though they might not be directly having job opportunities for you, their network might!

#5: Go viral
Heard of Matthew Epstein who created a viral campaign called, Google Please Hire Me? While it may not have worked out for him, it did go viral which landed him 80+ job interviews with some of the top companies including Google and Microsoft. You don’t have to create anything that crazy, but you get the idea. Stand out from the crowd. Do something different.

#6: Improve Your Skill Set
What better time to better your knowledge. With tougher competition, you’d want to be equipped with a better skill set. Are you a C++ programmer? Try learning Java or Python. You’ll not only increase your knowledge, you’ll also vastly increase your chances of getting hired.

#7: Build Your Own Brand
You don’t have to start a business or be a marketing expert to build your brand. With technology making things simpler, all you need to do is spend some time and less than 50$ to make a personal website of your own. There are various things you can do to build a brand of your own.
1. Can you write decent English? Then start a blog and share your knowledge with the world
2. Are you a programmer? Build a web application to showcase your coding skills
3. Do you want to become a creative designer? Create info-graphics and viral cartoons that showcases your inner creativity
With blogging, your limits are actually endless. You can write about virtually any topic in this world and show people that you are actually passionate and knowledgeable in this area.

Over to you now:
What do you think is the biggest challenge graduates face when they are looking for their first job? Let me know in the comments.

About The Author
Adarsh is an early career expert at Jombay, a career guidance platform for students and graduates looking for jobs in India.

Recruitment Agencies Assist In Making The Right Choice For Your Career

Recruitment agencies are created to reduce the risks that are often linked to the hiring process. From simple front desk positions to engineering jobs these companies can help you to fill any position that you have. What you will find is that there are numerous considerable advantages to using these companies plus they could help to get you linked with an employee you can be proud of.

Possibly the biggest advantage of the recruitment agencies such as engineering recruitment is that they can reduce the amount of time that you spend looking for an employee. Generally, these firms will have a pool of candidates that are looking to work. They will have been pre-screened and tested to ensure that you have quality individuals working for you. On request, you will be offered a specific number of applicants and each will be matched to an open position you have which will help you to have access to employees that will better meet your requirements.

What you will have to keep in mind is that regardless of the perception of them, recruitment agencies do a lot more than entry level positions. They can connect you with chemists and even people looking for engineering jobs. Everyone actively seeking employment can enroll in their services, meaning there is a good chance you will find people who are perfectly qualified for the position you’ve got.

More importantly, workers are tested in their knowledge and you’ll have access to their test results. This may include straightforward keyboard skills for some positions or understanding of chemistry, engineering or any other advanced topics. That can help you to avoid individuals who say they are able to do a position and instead, leave you deciding on only from those who are truly qualified.

If you choose from one of the proven recruitment agencies, you will discover there is some peace of mind. Companies who rely on their status won’t send over just anyone to interview for an open position and they will do whatever they can to give you the perfect candidate.

If something does come up, recruitment agencies will deal with the termination of an worker for you. Usually, these companies will provide you with the opportunity to do a temp hire with them, which of course means if for whatever reason they aren’t going to work for you, you are able to end their employment. Since hiring the wrong employee can cost you thousands of dollars, this can be a less expensive approach to the process.

Any company looking to hire for positions from a receptionist to engineering jobs will want to consider hiring one of the qualified recruitment agencies. With satisfaction and a savings on time and resources, you will notice that they’re the most effective choices you will have for all your employment requirements.

Why Pick Great Charity Jobs?

Do you truly care about your career and how you will shape it in the future? Millions of people around the globe these days focus on their career because they want to make certain that they have better future tomorrow. Hence, most of the people look out for better jobs that can help them to get better income. Nevertheless, there are many people who think beyond obtaining better income because they think that obtaining growth is much more essential that obtaining better income because when you have the possible to grow you get much more choices and that is why much more people select Charity Jobs that can permit them to grow in the company.

There is no doubt that charity jobs permit you to grow as individual because you are working for the benefit of the people that the company supports. Hence, when you go for charity jobs you get to have better experience than in any other sector. Most people go for charity jobs when they are young and when they want to get some firsthand experience. This is why you will find youngsters going for charity job because they get good experience about how to work in the actual globe.

Apart from that charity jobs do provide with better income that you can go for. Even though, it is believed that charity jobs do not spend good but the fact is that people working in charity firm do get paid handsomely. This is because they have to work difficult for obtaining all the donors and sponsors and even work difficult for the cause they support. Hence, charity organizations make certain that they provide competitive payments to their staff that would encourage them to work.

Another good factor about such jobs is that you by no means truly have to deal with the same office kind of job all the time. Since you are working in charity organizations you may have to travel and meet different people depending on your job profile. There are many charity jobs where people have to meet different people and talk to sponsors and donors and even arrange events. Hence, the jobs are truly interesting because you get to deal with different things rather than just sitting in front of your pc. When you are handling your Charity Jobs you get to see the globe in a better view.

Perth Retail Jobs Rise in September

The Australian Bureau of Statistics has documented the fact that September retail product sales in Australia increased 0.4 percent to $20.9 billion from $20.8 billion in August. This was the third straight month of benefits after sales grew 0.6 percent in August and 0.8 percent in July, giving some hope to Retail Jobs In Perth and WA if the trend continues, especially if consumers which have started opening their purses keep them open.

Australian buyers have been holding back on investing for a time, after previous year’s interest rate hikes bought the country’s official cash rate to 4.75%.

Food selling is really a positive story, making up 40% of retail income as well as being a driver of retail jobs in Perth and WA. Woolworths recently announced the opening of new stores across Australia, including in WA.
The Reserve Bank of Australia, which has repeatedly cited the timidity of the Australian consumer in its recent announcements, has also been preoccupied with containing the potential for rising inflation related to the country’s current mining-investment boom.

The disparity from the much softer purchaser and fast-growing mining-related areas of the economy has led some to describe Australia as a “two-speed’ economy.
Although one data point is unlikely to have an outsized impact on interest-rate expectations, some observers believe that the recent run of mixed domestic data is building a case for the RBA to modestly trim rates by the end of the year.

The ABS found household goods sales and restaurant and take-away food sales drove the high retail figures in September. Perth Retail Jobs and WA were also helped by higher than expected consumer confidence and credit growth reports, which saw sales rebound from the weaker numbers reported in three out of four months in early 2011.

However not all retail sectors reported growth. Shopping centers and outfits shops reported less strong performance, with some attributing the weakness to on-line rivalry.

The Reserve Bank of Australia recently cut its benchmark interest rate 25 basis points to 4.5 percent, in light of a mining boom that is expected to generate $200 billion in annual investment. With the interest rate cut, experts predict retailers should experience a boost, given that the 90 percent of Australian mortgages set at a variable rate means many consumers will have more money to spend.

Get your Irish tax refund now!

Have you worked in Ireland? If so, then you could be due a substantial tax refund! Many temporary workers in Ireland don’t realise they are due a tax refund but they often are. You could be due a tax refund if you had more than one job, only worked part of the year or if you forgot to claim tax refundable expenses. The Irish tax refund is €840!

The Irish refund calculator will let you know in minutes how big your tax refund is! It’s an easy to use tool that will help you find tax refundable expenses you might not have realised you had. You can claim tax refunds in Ireland from the last 4 years. So even if it’s been a while since you were in the Emerald Isle it’s worth checking if you’re due a refund.

To apply for your tax refund simply register here. To apply you will need your P45 or P60, but don’t worry if you have lost them. It’s possible to get replacements from your employers.

HMV Jobs: What Working at HMV Is Like

People with a passion for music, movies, games and technology will find a good place to work if they pursue one of the many HMV Jobs available. HMV vacancies are available in-store, at the head office and in HMV warehouses. HMV recognizes that it is only as successful as its employees and the corporate culture represents that sentiment. Additionally, HMV continually contributes to charities through active involvement in fundraising activities.Within the company walls, the company makes an effort to be eco-friendly by reducing waste. .

At the head office, one can choose from a wide variety of HMV jobs. Within the head office, open positions are often available in marketing, maintenance, finance, HR, commercial, operations and IT. If none of the current vacancies are quite the right fit, then an internship is another possibility. HMV Warehouses and HMV stores also offer jobs.

HMV stores and warehouses are located throughout the UK and Ireland. The various head office placements include the Royal House in Solihull, the Princess House in London and the Windsor house in Marlow. The company has 259 retail locations including 250 HMV stores and 9 Fopp stores throughout the UK and Ireland. The three warehouses or fulfilment centres are another place where one can find HMV Jobs. They are in Canning Town in London, in Guernsey, and in Merlin Park in Birmingham. Regardless of the department or location, HMV Jobs come with considerable support and training.

HMV has many programmes available to help employees meet career goals. Learning is greatly emphasized as an important value for HMV and its employees. On-the-job training is not neglected; even at the start of an employee’s time at HMV. The company offers a one-of-a-kind induction programme. Nipperpedia is an in-house system that aids with career development and moving up the ranks. In addition, training is emphasized when a person joins the company and expectations for each role are clearly outlined. Performance reviews are a regular occurrence in an effort to ensure employees are prepared and have the opportunity for regular improvement in their positions. Another way in which employees are supported is through fast track programmes at four different levels. Senior management also benefits from development programmes.

HMV Jobs are a good way to begin developing skills toward a career path sicne they offer fast-track programmes and other types of in-house training. Having a strong affinity for and love of music, movies and tenchnology is an asset in filling one of the various HMV Vacancies. This is not forgotten at any time as each individual within the corporate team is considered a valuable player in the company. The company is special for other reasons besides training. Community involvement and social awareness are two things that add to HMV’s unique atmosphere. Youth cancer is one of the main targets of the company’s involvement in fundraisers. Corporate responsibility is also emphasized within offices, stores and warehouses in the company’s efforst to be earth-friendly through waste reduction.

How to become a Qualified Electrician

In order to become a certified electrician, you must go through proper electrician training courses. Naturally, it’s a good thing to evaluate whether you are really cut out to be an electrician and to ask why you would want to become one? There are, after all, many different awesome careers out there. Rather than choosing to be an electrician, you could be an engineer or work for the government.

Most importantly, it’s important to have a good understanding what exactly electricians provide and do on a daily basis. An electrician is a specialized tradesman, someone who installs and takes care of electrical installations. However, this definition is rather vague. You can find electricians committed to all sort of domains. For example, an electrician employed by an electrical company may wire lines on top of tall poles, whereas someone employed by another company might have the job of maintaining many installations inside offices.

There are numerous recruiters for electricians. Governments e.g. provinces and cities will employ electricians to take care of public items such as street lamps or high voltage cables. Big companies frequently hire electricians to take care of large electrical installations at the entrance of various buildings. Other companies hire electricians for domestic or business jobs. Finally, some electricians are freelancers, and frequently have contacts in the construction industry or with other businesses.

The huge variety in the electrical industry industry is the reason why selecting the right training is very important – check out electrician courses for extra content connected to this subject area. Colleges will probably be the place where many people get their training, but there are also courses offered directly by companies. That is why people interested in becoming an electrician should consider the sort of training offered, based on the job they would like to do once they graduate.

In addition, a big part of electrician training is qualifications. Since being an electrician can be dangerous, as a result of high voltage, the profession is strictly controlled. Ultimately, every electrician must be aware of local rules about electrical work.

Frequently, on building sites, the principles will vary based on the local town, and the contractor who is constructing the building.

The job of an electrician is enjoyable and very varied . In case you are considering becoming one, look into training, and make sure you investigate different schools providing courses.

Freelance Writing Jobs for Freelancers Who Want to See the World

Pursuing travel journalism as a profession can be quite lucrative once you know how and where to find the most rewarding travel writing jobs. Just like any other kind of journalism, travel writing calls for persistence, dedication, and above all hard work. Before you can get started searching for opportunities, ensure you make time to educate yourself a good deal more about how to get started in travel writing.

In recent years, travel journalism has experienced rapid growth as a result of the booming worldwide travel sector, and the growth of destination media online as well as old-fashioned media outlets. Thanks to this growth of travel media, you can now market your writing in your area as well as international markets like websites and blogs.

Travel Writing Career Paths:

Guidebook Writing
Becoming a guidebook writer for a company like Lonely Planet, Rough Guides, or Moon, is regarded as being one of the more profitable jobs for a travel writer. However, guide book writing is usually in form of a longer term assignment that could even require a year or so to complete. It sometimes involves extensive journeyling and thorough description of the visited locations. For example, Tom Brosnahan, a renowned guide book author for Lonely Planet and Insight has written more than 30 guidebooks. In his estimation, a writer will typically earn $30,000 for writing a guidebook.

Travel Columnist
Being a travel journalist for your local newspaper may be a good way to secure stable work as a travel author. What you must do is to determine the objective column where publish travel-related content. Once you determine the particular column you must communicate your interest by getting in contact with the editor in charge. You should be able to either get in touch with the editor by way of a phone call or send the editor a short, query letter with a sample of your writing. This prevents your content from being ignored as unsolicited.

Writing for Travel Websites
There are countless tourism websites which outsource stories to travel journalists. You may have to subscribe to some before you decide to submit your piece. In addition to that, it is essential to read their editorial recommendations before you can post your work. Furthermore, you must browse their prior publications so as not to replicate content and also to acquaint yourself with their style.

Best Places to Find Travel Writing Jobs
How to find jobs for travel writers?

  • FreelanceTravelWriter.com – This outstanding site posts suggestions for breaking into travel writing, in addition to details of travel journalism opportunities from internet and print media.
  • Matadornetwork.com – The Matador Network posts articles from global contributors. When you sign up and accept the submission guidelines it is possible to submit first-person experiences, interviews, narratives and pictorial content and get paid shortly after the release of your content.
  • Craigslist or Monster.com – If all else fails, there is still the old fashioned way. Journalist jobs are often published on traditional career websites including Craigslist or Monster.com. This might be the best site to look if you’re interested in staff assignments such as travel columnist or magazine editor, instead of freelance work.
  • WriteToTravel.Blogspot.com – Write to Travel regularly features brand-new options for both inexperienced and seasoned travel writers. For instance, the latest post detailed an exciting new opportunity to get paid writing for the website Travelllll.com.

Get European Tax Refunds

When working in a foreign country you will pay tax on your earnings just as you would in your home country. Tax rates vary from country to country and the amount you pay will depend on how much you earn.

In the UK, tax rates are currently 20% on earnings above £1830 and 40% on earnings over £36,401. Individuals working in Austria as employees pay between 10% and 15% income tax (Einkommensteuer) on their earnings. All employees and self-employed persons working in Belgium pay 25-50% income tax on their earnings. For Denmark the income tax rates revolve around 5-15% from the employees earnings. The income tax rates in Germany are between 10% and 20% from the employees’ earnings. If you are working in Holland then you would pay between 30-52% income tax on your wages, depending on the amounts you earn. The tax payers in Norway get 28% of their work related income deducted while also paying wealth tax on the things they own.

Many international workers end up overpaying tax while because they do not get put on the right tax code or they are not aware of credits and expenses they are entitled to claim.

The good news is that even though you are a foreign worker, you are still entitled to claim back tax you over pay. The Average UK tax refunds are £963 for PAYE workers while average German tax refunds are € 1020. The average amount of the tax refunds from Holland is € 850. The average Irish tax refund is € 840.

In most countries it is a legal requirement that you file a tax return every year.

Filing an international tax return can be complicated so it’s recommendatory to use a professional tax refund provider such as www.taxback.com.Completing your annual tax statement with incorrect information may result in penalties, lower tax refund amount or even money owe to the government. On the other hand, there are legal options to maximize your income tax refund such as taking advantage of credits, allowances, exemptions, tax treaties or expenses which decrease your income tax liability and allow you to receive a larger tax refund. If you have worked abroad you can use this free online tax calculator to estimate the amount of the tax you can bet back.

Should you decide to avail of your legal right and obligation to file a tax refund from your time working abroad you can submit your application online here!