A couple of (legal) ways to gain some extra money when emigrating
 

For those about to leave the UK, here's two perfectly legal and good ways to pick up some more cash in the process -

1. Fill in your P85 tax form when you leave work. This form entitles you to a tax rebate on your income tax, as you would have been taxed as if you were going to work a full tax year. If you leave the UK at the end of March, this will not amount to anything, as you will have worked a full tax year, but if you leave round about now you should get a decent sum back. If you can earn around £7000 or so in between April 6th and the date you leave then you will maximise this benefit and probably get a couple of grand back.

2. Choose to shop at places that participate in the VAT refund scheme. If you are leaving the country for ever, anything you buy in your final 3 months in the UK from a shop participating in the VAT refund scheme is VAT-free, provided you take it with you when you go. I bought a heap of stuff from M&S, new work suit, shirts, even socks and pants. You then fill in one of their refund forms, they give you a stamped receipt. Here's the trick - you then present this at the VAT refund counter at Heathrow and they will give you all the VAT back in cash, any currency. In our case they did not ask to see proof that we were exporting the goods.

In these times when the exchange rate is not in emigrants favour, every little helps!

BB

Re: A couple of (legal) ways to gain some extra money when emigrating
 

nice post, I'm sure that the p85 part is pretty common knowledge, but the VAT refund isn't. As you say, at the moment the exchange rate is not ideal.

If you are in the UK right now and you're about to move over- listen to buzzy bee! When you get here, you will wish you had purchased x, y and z in the UK and packed it in your container.... well now's your chance, and you will also get a nice VAT refund for your trouble. :thumbup:

Re: A couple of (legal) ways to gain some extra money when emigrating
 

thanks for taking the time to post this, I have sent the link to a friend who is leaving in the next month or so - im sure he will find this very useful!
sue x

Re: A couple of (legal) ways to gain some extra money when emigrating
 

You can also claim back the unused portion of your TV license apparently...

Re: A couple of (legal) ways to gain some extra money when emigrating
 

Indeed. I didn't know that until I rang up to cancel it and the woman said she'd sort out the refund. :thumbup:

Re: A couple of (legal) ways to gain some extra money when emigrating
 

Yes to the TV licence AND if you are very lucky and give enough notice of termination, you can get some of your car insurance back. I read that on LloydsTSB somewhere so I phoned them and was told it was wrong. I had a nice long row with matey on the phone...a few days after I arrived in Oz there was a nice little refund into my account. Not all companies do this, nor do they have to, but it might be worth a go. :)

Re: A couple of (legal) ways to gain some extra money when emigrating
 

That is funny, when I left in Jan 2008 they told me that as I paid every 3 months for my tv licence, a payment had gone out 2 weeks before, that I could not claim any of that 3 months back. I kicked up a fuss, asked for the address of their head office etc. Had a look on their website and it did indeed say that they would not refund any money that had been paid already for a quarter when you moved out. Gits! I would have just cancelled the direct debit before it came out if i had realised!

Re: A couple of (legal) ways to gain some extra money when emigrating
 

2. Choose to shop at places that participate in the VAT refund scheme. If you are leaving the country for ever, anything you buy in your final 3 months in the UK from a shop participating in the VAT refund scheme is VAT-free, provided you take it with you when you go. I bought a heap of stuff from M&S, new work suit, shirts, even socks and pants. You then fill in one of their refund forms, they give you a stamped receipt. Here's the trick - you then present this at the VAT refund counter at Heathrow and they will give you all the VAT back in cash, any currency. In our case they did not ask to see proof that we were exporting the goods.

Does this apply only to goods that you take to the airport or could you, say, buy a fridge from M&S and take the receipt to the airport for a refund?

Re: A couple of (legal) ways to gain some extra money when emigrating
 

Is there any way to work out how much you're likely to get back? I plan on leaving work and being paid up to the 31st August, so would have been paying tax for the period 6/4/10 - 31/8/10. I thought it'd only be a few hundred refund, but a few grand sounds good to me!! :thumbsup:

Re: A couple of (legal) ways to gain some extra money when emigrating
 

If you pay your council tax by installments, these are usually done over 10 months, so it is likely that there will be some refund due there as well.
KJJ

Re: A couple of (legal) ways to gain some extra money when emigrating
 

I can confirm that too. I only got a few quid for what I had already paid but then the remaining payments were cancelled by the council and they confirmed it to me by email. :)

Re: A couple of (legal) ways to gain some extra money when emigrating
 

What a fantastic thread - Cheers Buzzy :thumbup:

Re: A couple of (legal) ways to gain some extra money when emigrating
 

I know plenty of illegal ways aswell, just pop £100.00 into this account i will forward on the details.;)

Account Name = Keith Moon

Bank Name = Barclays Bank

Sort Code = 24-83-61

Account Number = 08387769

Cheers Keith:fingerscrossed:

Re: A couple of (legal) ways to gain some extra money when emigrating
 

my money is on its way look foarward to not hearing from you.:huh:

Re: A couple of (legal) ways to gain some extra money when emigrating
 

1. Work out how much tax in total you will have paid on the date you emigrate by looking at a pay slip and multiplying the tax by the number of months of the tax year you will have worked (assuming you get paid the same each month).

2. Then look up the income tax threshholds for the tax year you are emigrating in. Work out the total you will have earned in the tax year you are emigrating in by multiplying your gross pay by the number of months in the tax year until you emigrate. Then apply that total to the income tax thresholds to get the amount of tax you should have paid.

The rebate will be approximately the answer to 1 minus the answer to 2.

BB