Zahra29:
his analysis was not realistic. UK could be tough for married couples with kids who come to study except you have funds coming from Nigeria.

But is a bold good step.

Lol, this is gross earnings. The non-student's earnings will be subject to income and NI tax at source. For 40 hours a week and £10 an hour, tax deductions will be approx £200 a month and these deductions will increase the more they work/earn

Council tax depending on location might be anything from £100 - £200 a month. Inflation is currently hammering food prices, so unlikely that 2 grown adults will spend only £200 a month on food.

You've also left out other bills which add up - phone bills, water bill (fixed rate or meter greatly affects how much you pay), TV license and if you drive -car insurance, MOT and road tax

If young children are involved - child care costs/ after school club activities , school lunches etc can easily add up to hundreds a month

What about saving to renew their visas? A straight forward visa renewal (ie no solicitor involved) can cost over £2k per person.

Love800:
Can one set up a cooking business in the uk? Am a cook

hikiki:
Abeg oo,for those wen dey UK. As me and madam dey reason come that end. Madam Sha dey come for masters degree,me dey come into dependant. And I hear say Dem dey pay 10 pounds per hour. Make una no vex oo,with all this tax bills etc..Shea I fit still save up to #400k month? Pls I need mature ansaa. Me na full time hustle I dey come do. Pls I need honest ansas. Tanks in advance

naijatisumi:
My advise for everyone run your own race. I have never regretted coming to the UK. I came in last year with my wife and 2 daughter. It wasn't easy but I can tell you it was worthwhile. I worked with Access Bank for 11yrs and I had to be working at a warehouse when I came in. It almost felt like Jeeeeez but I never regretted any of those experience. Even with my warehouse job I could save £700 convenience that's like 665k in Naira after sorting everyone and bills inclusive. Many people travel out of the country for so many reasons. Nigeria is blessed truly but a country of over 200Million where there is no room for the poor masses to push it through in life. No basic amenities, security is a joke. Now I can boldly save £1000 that is 900k as my wife is working fully now. That's triple of my salary when I was in Nigeria. Many of us came from a very poor background. I got a 5yrs permit, have been to France , Spain and Germany. I don't need to know someone before I achieve anything. I just need to work hard. Living here won't make you become a Millionaire but you can become anything. Opportunity abounds everywhere. You can live a good quality life in peace. I got a lot to talk about but I will stop here. If your Papa get money or you rich stay in Nigeria. But if you dey hustle bro JAPA asap. Opportunity abounds over here compare to Nigeria. Just be hardworking and take good care of yourself the world is yours

lajid:


They can save at least 1000GBP monthly if they plan their finances well. Even those with family can save 1000GBP a month on this scale of income if they manage their money well.

Here ednut, trust you’re well. Don’t you think 45m to 60k pounds a year is low after removing tax and living expenses?

You commented on my thread when I asked whether to choose big four or IB (actually went for the big four reason being that I want to japa too.

But then the money paid looks small, how do they save with 45-60k pounds? After tax and living expenses?

Amarathripple0:

I read somewhere that the Government can pay you that percentage twice in a year if you pay in month twice between specific months. How true is this please?

Amarathripple0:

Great insight! Thank you for sharing. Have you perhaps thought about creating a special forum for your posts so it’s more targeted towards the people who really need your service as opposed to it getting lost on this thread. Something to think about.

koonbey:


As a non-dom (which most recent immigrants qualify as), you are required to pay taxes on the foreign income if (1) is true, but you are NOT required to pay taxes if (2) AND (3) are true.

Peerielass:


Again this post is misleading! The maximum amount of tax relief available from Marriage allowance is £252 i.e £1,260 @ 20% tax.

https://www.gov.uk/marriage-allowance

However, there is another relief called Married Couples Allowance where the tax relief ranges from £364 to £941.50. This is only available to people born before 6th April 1935 and I doubt anyone amongst us here will qualify for this relief.

https://www.gov.uk/married-couples-allowance

I operate in this space so know the difference between the two but the layman would probably not be able to identify the difference. To claim that people can obtain tax relief up to £940 from Marriage Allowance is very misleading.

Estroller:


Is this not for employees with income generating properties? Dustydee initial question to my understanding is can an employee with a single home seek tax relief on their mortgage payments like self employed individuals do?

eniola1010:


All the one he has been doing is deliciousness of ugwu?

peacenaija:


Good Evening Sir,
Are you Japhet Jev on linkedin an alumnus of Unimaid?

deept:


If you live in a 3 bed house and you use one of the rooms for your business, you can claim 33% of the interest on your mortgage as deductable.

Ps. Not an accountant or tax consultant but me done research on what and what is deductable as I'm looking at towing self employment line. Do your DD to confirm

Peerielass:


Like I said in my post, there’s no offence intended. This is a public forum and hardly the place to be seeking or giving professional advice. I am duty bound to advise any one seeking such professional advice to do their due diligence first before engaging anyone. You can interpret it anyhow you want but that’s me finished with this conversation.

Estroller:

I'm assuming he meant an employee and not a self employed person.

Peerielass:


You really need to tread carefully here, this is a public forum for people to share personal experiences and not intended for professional advise. If you need the services of an accountant or tax consultant, you can find one local to you using the ACCA, ICAS, ICAEW, ATT directory. UK tax laws are particularly complex and requires significant technical knowledge which can only be acquired through practise and regular exposure to complex cases. No offence intended but I do not think that someone who has spent less than two years in this country will have the requisite technical know how required for this line of work.

There’s also a reason why most accountants don’t advertise their services. Potential clients find them and not the other way round,

Peerielass:


Hello, can I ask which professional accountancy body you belong to and how many years UK tax experience you have?

dustydee:

Are you suggesting a private person can claim interest on a mortgage? Never heard this before. If that's the case then need to find me an accountant. Can it be claimed retrospectively?

CheesyTee:


Next time, call HMRC directly. I recently realised I was overtaxed for 8 months at my new job. I called HMRC and provided them the right tax code, and was refunded almost 2k.

You should know your tax code and all these information are on the HMRC page, down to calculating your tax payment for the year.

I have friends that overpaid tax and got refunded (without contacting HMRC) after the tax year.

rayralph:


Permit me to ask this question

I have a thriving multi million naira business in NGA, and as a UK resident, I’m expected to declare my earnings/profits to HMRC ?

Is it realistic and enforceable ?

ps: All transactions are done in naira.

lightnlife:
Thanks for the insight.

It's gets interesting with this twist.

Essentially, I'm trying to avoid paying tax on the funds. The contract was awarded in Nigeria and payment needs to be made to the workers in Nigeria in USD. I'm unable to transfer from my Nigerian USD account while here as per CBN/Forex issues in Nigeria. Having the funds taxed will be a huge burden on me as 80% is meant for workers - my profit would have been lost to tax and transaction fees.

If I decide not to declare the income to the HMRC, what are the consequences?

Or what alternatives do the advise to receive and send USD without being taxed in the UK. Thanks