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#1
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Euros
I know a car forum doesn't seem like the best place for money advise but I am keenly aware that there a few people on here that are more finanically savvy then I.
So here goes, I have recently quit my job and will be starting a new one at the end of the month that will pay me in Euro's. So what is the best or most efficient way that you know of to get Euro's in to Pounds so I may pay the bills etc. I signed up for Revolut but thats not a euro account that can receive payment from employer that I'm aware of. So I'm all ears on others experiences of dealing with currency conversion, euro accounts or other services. Thanks Del
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Del |
#2
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I think we need to know more, such as where will you be working, where will you be paid and where pay tax?
Most people I know with significant Euro holdings keep separate accounts in the relevant country. Their tax situation can be complex.
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2003 D2 FL S8. Irish Green Pearl/Beige. Solar sunroof, auto-dim mirrors, electric rear seat functions and extended leather. Ski hatch retrofit. Aftermarket reversing camera. DVB-T and XCarlink now removed as redundant. 2016 Volvo V40 T5 Cross Country (4WD) with ALL the toys including adaptive cruise etc. etc. Osmium Grey with Blonde/Charcoal leather interior. Polestar performance "optimisation". (Even rarer than a D2 S8!) Oh, and a brand new engine at just under 30,000 miles on the factory one! Finally: gone, but not forgotten..... 1998 D2 PF S8. Agate Grey/Platinum. Every option (I think) except electric rear seats, Tiptronic steering wheel, ski hatch, towbar & dimming door mirrors. e.g. Cruise control, NavPlus/TV, Bose, GSM, Xenons, Solar roof, Parking sensors, Alcantara/leather everywhere of course. (internal dimming mirror added later) 1998 (very early) Ford Focus 1.8 Zetec; ABS/TCS, Heated screen/mirrors, Aircon. Added Auto-dim mirror, Leather seats, Trip computer, Cruise control, OEM Ford SatNav with CD changer. And before that a lot of Rover 800s, a few oddities, a lovely Triumph Dolomite 1850HL with Overdrive and way back in my schooldays an Austin Seven aka Mini 850! |
#3
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I'll be working all over the world and getting paid by an umbrella company based here in UK but in euro's.
I should qualify for Seamans tax which allows me to claim all my taxes back.
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Del |
#4
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I'd be talking to:
a) The new employer to see what others do b) You current bankers, most (all) major banks offer currency accounts with easy transfers to/from the base Sterling account There's always a penalty when converting currencies but I expect the majors will all be pretty much the same. Unless you're earning megabucks and can get a "premier" type account which may get better rates.
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2003 D2 FL S8. Irish Green Pearl/Beige. Solar sunroof, auto-dim mirrors, electric rear seat functions and extended leather. Ski hatch retrofit. Aftermarket reversing camera. DVB-T and XCarlink now removed as redundant. 2016 Volvo V40 T5 Cross Country (4WD) with ALL the toys including adaptive cruise etc. etc. Osmium Grey with Blonde/Charcoal leather interior. Polestar performance "optimisation". (Even rarer than a D2 S8!) Oh, and a brand new engine at just under 30,000 miles on the factory one! Finally: gone, but not forgotten..... 1998 D2 PF S8. Agate Grey/Platinum. Every option (I think) except electric rear seats, Tiptronic steering wheel, ski hatch, towbar & dimming door mirrors. e.g. Cruise control, NavPlus/TV, Bose, GSM, Xenons, Solar roof, Parking sensors, Alcantara/leather everywhere of course. (internal dimming mirror added later) 1998 (very early) Ford Focus 1.8 Zetec; ABS/TCS, Heated screen/mirrors, Aircon. Added Auto-dim mirror, Leather seats, Trip computer, Cruise control, OEM Ford SatNav with CD changer. And before that a lot of Rover 800s, a few oddities, a lovely Triumph Dolomite 1850HL with Overdrive and way back in my schooldays an Austin Seven aka Mini 850! |
#5
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The others that are doing the same as me are a mixed bag, some are just having it deposited into their normal account and accepting whatever rate plus fee's the bank decides.
One other has opened a Euro account but I don't know what fee's he get's charged but it allow's him to transfer when the rate has moved in his favour.
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Del |
#6
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Depending who you bank with something like this might be suitable:
It states no account fee and provides live FX rates and can be managed online. https://www.hsbc.co.uk/1/2/currency-account Are you going to be working offshore to claim the Seamans tax, if you are on land I would have thought you pay the tax where you earn the income. Rather than claiming the tax back though you might want to look into requesting an NT tax code and have the employer to pay wages without deducting?
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Cars... '93 Audi Coupe 2.0 Alpine White (sold) '99 Audi S4 Merlin Purple - K04 upgrade to 412hp (sold) '00 Audi S8 Agate Grey (Sold ) '11 Audi Q7 4.2tdi Unknown Red (Classic Red Pearl Effect - thanks MJ) |
#7
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I work on vessels offshore and everything outside the 12 mile limit of uk shores counts as days for qualifying.
I'll have a read through their details thanks.
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Del |
#8
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Do you mean seafarers? If so, maybe not. See: https://www.gov.uk/government/public...elpsheet/hs205
Which specifically says: Quote:
Quote:
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2003 D2 FL S8. Irish Green Pearl/Beige. Solar sunroof, auto-dim mirrors, electric rear seat functions and extended leather. Ski hatch retrofit. Aftermarket reversing camera. DVB-T and XCarlink now removed as redundant. 2016 Volvo V40 T5 Cross Country (4WD) with ALL the toys including adaptive cruise etc. etc. Osmium Grey with Blonde/Charcoal leather interior. Polestar performance "optimisation". (Even rarer than a D2 S8!) Oh, and a brand new engine at just under 30,000 miles on the factory one! Finally: gone, but not forgotten..... 1998 D2 PF S8. Agate Grey/Platinum. Every option (I think) except electric rear seats, Tiptronic steering wheel, ski hatch, towbar & dimming door mirrors. e.g. Cruise control, NavPlus/TV, Bose, GSM, Xenons, Solar roof, Parking sensors, Alcantara/leather everywhere of course. (internal dimming mirror added later) 1998 (very early) Ford Focus 1.8 Zetec; ABS/TCS, Heated screen/mirrors, Aircon. Added Auto-dim mirror, Leather seats, Trip computer, Cruise control, OEM Ford SatNav with CD changer. And before that a lot of Rover 800s, a few oddities, a lovely Triumph Dolomite 1850HL with Overdrive and way back in my schooldays an Austin Seven aka Mini 850! Last edited by HPsauce; 21st February 2018 at 01:53 PM. |
#9
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Quote:
I haven't been using Revolut long but, as far as I'm aware, it would also be free to exchange the funds from EUR to GBP and transfer them to your regular (UK) bank account.
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Mark ------------------------------------------------------ 2002 FE S8 Ebony Black Pearl ------------------------------------------------------ ------------------------------------------------------ Cars Owned: The Tesla Era: 2020 Model S Performance Ludicrous+ (present) (Black, with all black premium interior and carbon fibre décor, 21" sonic carbon twin turbine wheels and FSD capability) The Audi Era: '97 A8 4.2 (Ming Blue) --> '96 A8 4.2 QS (Dark Green) --> '02 FE S8 (present) The Citroen Era: '84 BX 1.6 RS --> '89 BX 1.9 DTR Turbo --> '94 XM 2.0L Turbo --> '96 XM 2.0L Turbo Exclusive --> '00 Xantia Activa 2.0L Turbo The Banger Era: '76 1.2L Lada VAZ-2101 (Ruski Fiat 124) --> '80 1.7L Morris Ital HL, finished in Ermine White and Rust |
#10
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Quote:
I will need to signup for the premium account though.
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Del |
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