UK TAX SYSTEM EXPLAINED IN SIMPLE WORDS | Income Tax in UK | National Insurance , Pension
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- Опубліковано 16 вер 2024
- UK TAX SYSTEM EXPLAINED IN SIMPLE WORDS | Income Tax in UK | National Insurance , Pension
In this video I am going to talk about the tax system IN UK.
How much will be the in hand salary after deductions.
What all deductions are there in UK.
How much is tax deducted from salary.
We are Indian UA-camr in England ( Indian Vlogger in UK / Indian vlogger in London ) and we are currently living in London.
#TAXINUK #indiansinuk #desicoupleinlondon
We will talk about the following in our video:
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Bro kindly help I have two full time jobs one is 37.5 hours a week in hospital and second is 40 hours a week in security job (excluding breaks )
I work on NIN ON BOTH JOBS
my job in hospital. they pay me every two weeks
my second job in security they pay me monthly. I have just started this security job recently.
now my question is how much will my tax go? if I have to pay the emergency tax in second job ? because both jobs are full time so there is no primary and secondary job , both are 40hours jobs
70K pounds years salary tax
Taxes are very high in UK
Useful information. Thanks. But apart from that any other way to save tax is by investing apart from donation.
SIPP is another option
Very informative!!Thanks for sharing.
Thanks Divya 💕
Very helpful and clear advice. Thank you
Glad it was helpful 🙂
Very nice and Crisp and to the point. Please make a video on pension and cover these aspects f possible - There are three types of pension - 1) State pension 2) Workplace pension 3) private pension. pros and cons of these options. How to transfer the pension fund to India if someone plans to retire in India? Is it possible to receive pension in overseas bank account directly? What is someone gets the ILR and then loose the PR status after being out of the UK more than 2 years, do they still be eligible for state pension? Thanks in advance.
Thanks viresh. We will try to cover this in a future video
Tax may be improve in Economy which gone down and TATA ready in England in big Area Industries give Boot in Economy
Thank you.
🙂😊
The Great thing about your video was it was too the point and i got answers for my all questions in a single video. Big Hug from London!!!
Thanku for the shearing video
Gald it was helpful
Hlo sir, abhi muje 3 months hue h aae hue or 5500 poumds total kamaya h, har week mera NI or paye tax dono debit hokr saleri aati h?????
yes
Great information nice background 🙂
Thanks 👍
Please also explain about corporation tax
Sure
This is a well crafted video with some useful information. Thank you for taking out some time in your weekend to create this. Few questions-
1) Are there any legitimate ways available to get tax breaks by investing like in India, If so what are these and how much will be waived off.
2) You didn't spoke of filing tax returns. When is this filed in UK.
3) when you are on a work permit are you obliged to put money in pension fund.
Glad you found it useful.
1. ) yes there is a ISA which gives tax less investment will soon make a video on it.
2. ) till 31 January of next year.
3.) Its not mandatory but its good way to save tax and save for retirement.
@@DesiCoupleinLondon Sir suppose I am earning 18000 pound per year so how much tax I have to pay 💰 yearly.
@@DesiCoupleinLondon I'm going to UK with Work permit, How to pay less tax? Please say
good information provided
thank you
😊🙏
Mere first month ki salary mese hi N.I. And PAYE deduct hoke aaya tha and every month katta he and my fast job he london me ye
sabki salary me se tax katta hai.. first job se farak nahi padta
His question is. Usne abhi tak 12500 kamaya nahi hai. Magr tax pehli salary se kat raha hai. Same with me also
Being student I was paid tax as well
tax is something everyone pays
Very good information
😊🙏
It's been only 4 months for me working in uk and they deducted tax from my salary. It's not even £12570 yet.
They deduct it based on your employer information the money you will earn in the whole year it's based on that
Thanks for the video! Is the National Insurance refundable on returning to India?
Hey Santhosh its the way you pay for NHS. so its not refundable
watching for interview
👏
This helped me to creak a interview ....
In crypto Tax of UK 🎉thanks a lot ..
Hi , really informative, great video, have question please
How does private pension works in the UK , is it always benefial ? private pension se murad kya hai, kya company ko kuch extra amount deni hoti hai monthly ?
Dusri bat , kya koi government job ki ho to kya uski pension zyada hai ya same 9000 per year hi ?
thanks
Good topic will make a video soon
Ager mai NI par job krta hun sath uber delivery bhi karma hun too kya tax ayega mere ko
Hi Nittin,
Thanks for this video. I got an offer from UK and the offer letter has this clause. Is it a usual practice to put this clause in UK's offer letter?
You agree to opt-out of the average maximum weekly working time of 48 hours in regulation 4(1) of Working Time Regulations 1998. You may terminate this opt out at any time by giving the Company three months' notice in writing
yes Its standard clause. Basically means
Unless they opt out, adult workers must not work more than an average of 48 hours per week over a specified reference period. A worker can opt out of the 48-hour working week by entering into an agreement with their employer. Workers may wish to opt out so that they can earn more money by working longer hours.
@@DesiCoupleinLondon oh ok. Thanks for your response.
But there is 1 more line in the offer letter which states "overtime will not be paid".
So i understood that the company would/might ask us to work more but without extra pay. This sounds dubious to me because I was under the impression that UK labour laws are more stringent and better than in India.
@@anuragnarang26 You need to complain to labour office, if you are forced to work without the overtime
Very informative video. I have a question. My daughter is a student and has started working with a company part time with a contract. I want to know her Tax liability and how she can save tax in UK? As example in India we have savings and expenses which we can claim that we have tax savings and obtain a tax refund.
Nice video. Is there any deduction for perspn having child?
Nop
Veer g wra swaal hai ki je koi 2 to 2500 pound par month kamauda ta tax kinna katega per moth salary kini milegi sab kat ke tax v insurance matlab sare katan to baad please jawab deyo🙏
Sat Sri Akal Veer, i saw your question is still unanswered, so 12570 di Personal allowance is saal applicable hai, 2500 de hsaab naal yearly 30000 bne, 12570 ddeduct krke remaining 17430 te tax lgega , te oh tuda employer weekly ya monthly wages jdo bhi pay krega kat ke pay krega, tuhada saal da tax tudai yearly income tax hoya 3486, te monthly tuhada 290.5 pound deduct honge tax de rup ch, provided tuhada koi hor allowance je nhi hai.
Thank you for the information
My pleasure
Thanks for the useful video. A question - if one transfers money from one’s savings in India to UK. So when money comes in our UK account, is that counted as income in UK and taxed as income in UK? Please clarify.
Yes but there is a way you don't need to pay there is a 7000 pound per financial year limit with no tax . And you have to show documents for that.
If you are sending money from India to the UK, you will have to pay a 5% tax on any amount above ₹ 7,00,000. There is a reduced tax rate for payments taken out as loans for educational purposes.
Im on spouse visa what should be my tax code ?
Hi, I am working as a part time and earn weekly. Most oftenly I worked 2-3 days per week.
When I got my pay slip which mention tax deduction amount and that was almost 10 💷 per day ND when I worked 2 days it's 20 above.
So I didn't get about this, bcz some one says it's too much diduct.
And I don't know to whom I ask about this.
check your tax slab and calculate there are many calculators available free to calculate tax
Really good knowledge 👍👍💖💝,
Can you make a video on "ACCOUNTS" job ???? I will thankfully if you do.
Sure soon
@@DesiCoupleinLondon really thanks sir👍
Hey Nitin, hope you're well! Brilliant compilation of tax and NI related info. I just got one doubt with regard to Pension - Suppose if i opt for an Employer Pension Scheme, I can't withdraw the funds from the pension pot before attaining the required age limit per the regulation. If in case i move back to India (without getting an ILR/Citizenship), would I still be able to withdraw the funds from the pot even after moving back to India? Or do I have to return back to UK after attaining the age limit to withdraw those funds? Kindly clarify. Thanks in advance.
Hi Kalyan, you can transfer your Uk pension pot to some pension providers in India when you leave UK. for example aviva is there in INDIA where you can move your fund and can access in INDIA once your reach age limit.
@@DesiCoupleinLondon Thank you so much for your reply and explanation. Which means I can withdraw these funds upon transfer in India without any restriction right (ofcourse after attaining the required age?
As you tell 12570/ this is yearly amount which is not tax deduction
Bro what about overseas income if someone have business outside UK and he is receiving money every month in uk in that case how much he have to pay income tax
Depending on visa you have to provide this info to hmrc
Very informative video. Already seen it twice. Can you throw some light on transfer of pension fund to a fund in India? Can we club nps and the transferred pension from uk in India, or how does it really work?
so there are few companies with which y0u can transfer the pension from UK to India but there is a clause that it can be taken out only at age of 65.
GOOD BOY ☺️🎉
U have not clarified how much tax one needs to pay on 2000- pounds. A rough figure of total percentage and take home from the salary advertised ? Please explain.
2000 a year ?
No tax
Thank you for your video. Though i had a doubt regarding pension. If I move back to India how can i transfer my pension amount and till what age can i not access it?
Check my video on pension explained with similar thumbnail
Texs code change Kaisy kareen maray 1257LX hai how to.change code
call hmrc
Is there any tax exemption for persons with disability?
Yes
Nice video.. can u please create a detailed video on Counsil Tax
Hi Nittin, Roughly how much should a software consultant working with a Big4 with 10 years of experience be paid in UK?
Did you check Glassdoor?
@@DesiCoupleinLondon yes it left with lot of confusion
Sir suppose I am earning 18000 pound per year so how much tax I have to pay 💰 yearly.
TaxBREAKDOWN £ 452.50
2022 Take Home £ 1,319.84
@@DesiCoupleinLondon thanks sir
Sir gambling tax rules in uk
bhi aapne ye nahi bartaya ki if you are paying rent can we save tax on how rent .. and if yes how much waht are the rules for that
No you can India wala HRA nahi yahan
House rent ko expense show kar sakte hin as company office
nope
Could have been better structured, but got the info. Thanks.
Please also make a video on how an indian chartered accountant can land up a job in The U.K
Sure we have few friends we can create a video with them
life insurance maturity in india is taxable in uk?
I have question..
First 12570 pe agar tax cut hua hai or yearly salary 24k he to jo 12570 pe tax cut hua h vo return hoga ya nahi????
Yes you can fill self assessment and get refund
No investments we can show to reduce taxable income...like we have 80c?
nope but you can use ISA check my video on how to invest and save tax
To sir jo pension ka paisa stocks men invest hota he wo profit k hisab sy wapis milta he ya fix pension ?
sir please watch my pension video explained
I have been taxed before I reached 12,500/- I’m new to this UK & my payslip shows YTD 3200/-.. please reply.
what is your question
UK has progressive tax system which states that as the income rises tax rate also rises ,
But then they should also consider inflation and reform the tax brackets
I am moving to UK soon, I have 20 years hospitality experience. Is there any course that I can do that would help me get a job there. If there is shortage of any particular skill
Suppose kisi ki salary 30 thousand per year hai. To tax 12 thousand ke upar yani 18 thousand pe lagega ya poore 30 thousand pe.
18 pe
@@DesiCoupleinLondon
Thanks for your reply.
Magr bhai idhar to shuru se kat raha hai tax. I don’t understand kaise refund kaise karna hota hai
@@DesiCoupleinLondonto jo refund hota wo employees k account m aata h ya employers ke ??
Online Earning pe tax dena padegaa yaa nahi ?
Earnings koi bhi ho tax dena hi padega
If anyone gets a chance for 1 year internship, What will be the tax parameters?
What's the best salary for a civil engineer with an experience of 2 years
Check Glassdoor for your specific field
Bai mai uk me new aya hu.
Meri ab tak 5 salary slip ayi hai.
An 5 aprail k vad meri new salary slip ayi hai . Usme se tax kata hai.
Tax to nhi katna cahiye na kyuk 12500 to abhi hua ni
UK Government charged property tax monthly or yearly
Sir 2 lakh income per month ho to kitna tax Katega Indian rupee me ??
80,000
Does initial first year is tax free for the person who is on skilled worker visa ?
would have been great but NO.
@@DesiCoupleinLondon for ICT or GBM?
Sir agr full salary se starting se se tax deduct ho rha hai to jo 12570 ki jo tax free income hai us income wala tax year k last mein refund hota hai ?
yes if you paid extra
So we will have to claim tax every year for this tax free 12570
Last me sab refund ho jaega return fill krne pe so don't worry
@@nri_raj kaise fill karna hai?
@@ravindersingh1730 self assessment link pe jao gov uk ki
Can international students allowed to Trade stocks/Forex in Uk?
Hllo Sir, i have a question i switched my tier 4 visa into tier 2 and my annually salary 26000 ( 2400 per month ) pounds but they don't deduct my tax which will be nearly 350 they only cut 158 pounds for National insurance. Why they don't cut my tax. I switched my visa 1 month ago. They will start deduct my tax or not?
Yes they will soon as your emploiyer will provide info to HMRC
Mujhe bhi london aana hai sir aapke ghar ka rent kitna hai
PAYE tax refund kaisey le skte hain?
I’m earning from tiktok live I’m international student I earned more I have to pay tax or not?
Check with a financial advisor there are rules around it. Yes it's taxable
URGENT... URGENT....I got an offer on 45000 GBP per year. How much amount will I receive in hand every month (After all kind of Tax deduction)
£ 2,885.20
@@DesiCoupleinLondon thanks for your reply.
Bro kindly help .I have two full time jobs one is 37.5 hours a week in hospital and second is 40 hours a week in security job (excluding breaks )
I work on NIN ON BOTH JOBS
my job in hospital. they pay me every two weeks
my second job in security they pay me monthly. I have just started this security job recently.
now my question is how much will my tax go? if I have to pay the emergency tax in second job ? because both jobs are full time so there is no primary and secondary job , both are 40hours jobs
Yes but share both details with hmrc so they can apply best tax code
Bro. I have 1 doubt. If I travel to the UK as onsite employee. Even then the tax would be applied right. But when I checked in HMRC, it was mentioned as not eligible to register and claim.
Could you give some insights.
Do you have a tax code and ni?
Very informative video Nitin, I have recently moved to London and I am facing some issue related to tax code right now. Can I discuss it with you in your insta handle?
lets catchup on insta would love to help
@@DesiCoupleinLondon Thanks 😊
Hello bro .. I have a question that I have already paid 2 year NHS registration fees i.e around 940 from India. Then why again some charges are deducted from my salary against National Insurance charges every month
That is one off but Ni is like a health tax you need to pay every month apart from one time IHS fees
Ager mai NI par job krta hun sath uber delivery bhi karma hun too kya tax ayega mere ko 7:21
yes if above personel allowance
Samja nehi 125 Pound Weekly earning se kiya 40% tax dena parta ha?
bro mai dependent vise pr hu tier 4 mai tax refund krwa skta hu ?
Ye salary slab yearly or monthly
Yearly
Hi
Hmrc se mera tax deduction hua or meri income 12570 pound se upar nai gai hai abhi tak mene uk me 8k pounds hi earn kiya hai.. to mere jo tax deduct hua hai woh vapis kese milega or next payment me or tax ma deduct ho us k liye kya karu..
you can call HMRC and tell how much is your yearly earning and to get a refund you need to fill self assesment?
Aap please pension pe ek video banaiye
Sure
If we are earning less than 12000 in UK as free Lancer which tax exempted and transferring this amount to India so will we pay tax there in India??
Nop you can be tax resident either India or uk where you spend more than 183 days
Hmmm Thanks for reply.
For whom who r staying there in rent any house allowance?
nope
Sir my name is also nitin bhaiya mujhe ye poochna tha ki sir supermarket ki job kaisi hai uk me karni chahiye ya nahi
Brother kuch better nahi milta to kar bhi sakte ho
Bro agar koi company hume weekly pay kar rhi hai aur payslip par tax cut kar aata hai....agar koi company 2 week ke hisaab se pay krthi hai to dono mein same tax pdega ja.... Weekly pay mein benefit hai??
Same tax
brother ak information chye mei uber pe kam karta hun food delivery ka to jo mei withdraw karta hun uber se apni daily income os pe maine tax dena hai ya woh kat k ata hai ??
I think you are self employed so you have to pay your own tax . But check with Uber so they deduct or not
okay if i have to pay my own tax how do i pay and where to pay details please
@@DesiCoupleinLondon
Sir I am not crossed my 12570 Amount and I recently came in UK but for the very first month my tax is deducting
Because they use it based on the forcast. So lets say you will earn 50k for the whole year based on th information that HMRC got from you employer so they will deduct this tax spread around whole year so you dont get the burden in one go hope this make sense.
Bro meri pay aai NI kat raha ebhi first week 17 pount next week 33 pound.... What is procedure for that
kya matlab?
@@DesiCoupleinLondon ist week me salry aai NI 17 kta.... 2nd week me salary aai NI 33 kta....
Is National insurance not deducted for anyone on tier 2 visa for the first year? Can you please confirm as no information available. Waiting for a revert!
Thankyou
It's is deducted
@@DesiCoupleinLondon tier 2 ict , now global mobility senior specialist won't get deducted
Is Council tax different from income tax ?
yes council tax is payed based on property that you live
Sir mera UK k. Liye hua 2000 pound salary hai to diduction kitna hoga
Around
Is there any tax exemption available for people on skilled worker visa?
Unfortunately not.
@@DesiCoupleinLondon in ICT visa, we get some tax exemption for first 2 years and no NI for 1st year. So, no such arrangement for skilled worker visa?
Mere ebi 12570 nhi aae account me.... 2 week ki payment aai bus first week me 17 pound ni kaat liya or 2nd week me 33....... Jabki dono week ki mila kar 1072 pound aae bus........ Iska kya chkar h bro btana
12570 slab hai tax free account me nhi aenge
@@DesiCoupleinLondon account se hi kta h bro NI kta h ..... Jabki ebi tak account me 12570 nhi aae sirf 2 week ke 1072 aae
Bro. I was new in uk and I started working in in feb 2022. But from april first week they started deducting tax. I was earning i was earning around 1500£ per month. Will i get refund in april 2023. Because they started deducting tax before i reached 12570£
thats not how it works they calculate the tax for the whole year and divide it in 12 months so that you dont have to pay all the tax in one month.
Yes if they have deducted they will refund but you need to fill self assement.
@@DesiCoupleinLondon still my query is not clear. 12500 ke upar ki income par tax deduct hota hai? Matlb 12500 tax free hai? If yes. It took me around 8-9 months to earn 12500. And they started deducting from 2nd month. April 2022 mein jo meri salary ayi. Wo after tax mili mujhe aur tab tak maine 3000 earn kiye they. Tabhi se aaj tak cut ho raha hai tax. You got my point bro?
I got your point bro you read my point again you will understand
Hlo sr Jasa open work permit liya ho kitna time period k baad hume tax pay krna pdta ha
PAYE k under to employer tax kat ta hai
@@DesiCoupleinLondonmra ek frnd ha usko 1 yr hogya but Bo tax hi n de rha to koi prblm n hoti agr tax na de
What about less than 50k?
Me gross salary was 1600 and pay e pais 336 please help
Bhai mai student hu mera first year hai aur mera taxcide1257L student code jo sbka lgta hai wo hai lekin mera tax ja rha hai mai tax refund kaise kru bhai?
call HMRC if you thik your code is incorrect
My code 1257L fir bhi mera tex cut raha h...
HELLO frd
Hi
Pls make a video on how to file tax return in UK.
good idea. will be put together soon