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Thread: Taxes and investments in the UK? How do they work?

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    Default Taxes and investments in the UK? How do they work?

    Guys, I am reading so much wisdom and good advice on this Dollar Den board, but it all seems to apply for USA strippers only. I will move to the UK soon (I'm from Germany) and when I do I'd like to start investing some of my earnings (so far I've only used it to pay for university, but I'll get my degree in an year and I'll be done with that). Does anybody know something about investing in the UK? Should I open a bank account when I get there?
    Also the tax system seems very complicated. Dancers are freelance workers, so they have to keep track of how much they earn (which varies basically every night) and then write it all down? The UK tax system website could be written in persian for how much I understood of its content.
    Do you have any tips to share? Thanks to you all

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    God/dess shanna dior's Avatar
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    Default Re: Taxes and investments in the UK? How do they work?

    You definitely want to open a bank account so you aren't just rolling around in piles of cash! You are also correct in wanting to track your earnings, along with any expenses, to make your life easier when it comes time to file. I would strongly recommend getting an accountant to help you file for your first year, as they will be able to help you make sense of it all and then you will be able to do it correctly yourself in subsequent years.

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    Banned Melonie's Avatar
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    Default Re: Taxes and investments in the UK? How do they work?

    ^^^ in regard to actual investments, the UK has a stock exchange of its own ... as well as brokerage houses.

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    Default Re: Taxes and investments in the UK? How do they work?

    I think the smartest think to do is to delegate the whole thing to an accountant once I'm there, like shanna dior says...

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    Veteran Member cairalis's Avatar
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    Default Re: Taxes and investments in the UK? How do they work?

    I live in the UK, but I am not a UK citizen...I have a great accountant who does everything for me...it gives me a lot of peace of mind, I would recommend you to do the same. Honestly if I wouldnt have had him I would have been completely lost! It is very complicated to get everything at first, so many different rules!

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