Working Abroad
Working abroad can often be a fantastic opportunity. The chance to explore new parts of the world and develop your career at the same time is one that more and more people are seizing. Meeting new people, learning a new language and culture and of course, a better salary, are just some of the benefits of working outside the U.K.
Depending on who you work for, your working routine abroad may be little changed from what it was in the U.K. The majority of expats work as diplomats or for U.K./U.S. owned companies, meaning you will be working predominantly in English and with other British employees.
This may tempt you to socialise exclusively with other expats, especially during the initial adjustment period. But there is much to be gained from learning the local language and culture, and not only for social reasons, you’ll find that many new business contacts and opportunities open up to you if you are able to connect with the locals.
When planning on working abroad it is important to remember that you will pay tax in the country you will be working in. In Western Europe especially, you can expect to pay a higher rate of income tax than you would in the U.K., though this is often offset by the fact your company will usually pay for things like rent or your children's education fees.
Working abroad also gives you a choice with regards to your pension. While it is possible to retain a U.K. based pension while working abroad, choosing to transfer it over to your adopted home can yield a better tax rate and potentially help reduce you inheritance tax burden. However, this is only possible if you are planning on residing outside the U.K. for more than five years and is of course most appropriate for those considering retiring outside the U.K.
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