Whether you are moving to the United Kingdom or going for a predetermined period there, it is worth getting updated information about the UK and the process of relocating there as an expat.
Before we start our guide, it is worth noting what the difference between England, UK and Great Britain is. The United Kingdom includes the northern part of Ireland, Wales, Scotland and England. The United Kingdom is governed by a parliamentary monarchy whose capital is in London, also the capital of England. Great Britain is the name of the island.
Accommodation in United Kingdom
If you are moving to London or the United Kingdom in general, the accommodation you will get depends on the duration of your stay. That is to say, it is not the same to visit London for a predetermined time of 6 months or to move there permanently.
House Rentals to Live in the United Kingdom
The prices vary depending on the area where you want to live and, sometimes, depending on the landlord. As there is so much demand and so many variables, it is something that you will not be able to do from your country of origin. It is better to wait until you are already in the UK to start your search or get the help of relocation specialists.
When renting, keep in mind that in the UK they pay by the week and not by the month as elsewhere. Although there are plenty of offers to rent in the UK, don’t fall back; the demand is higher than you think and apartments are very liquid and can disappear in a matter of days.
Money and Banks in the United Kingdom
As you already know, the currency of the United Kingdom is the pound. You will need a bank to open a checking account. If you are going to work in the UK you need a bank account and transferring and exchanging your money via your bank is often easier than dealing with money exchanges. Moreover, if you open a bank account, you will be able to pay by credit card without commissions.
Taxes in the United Kingdom for U.S. Citizens
Working in the United Kingdom will mean you will be paying taxes in the United Kingdom, unless you stay at a company for short term only. Whether you are moving permanently to the UK or not, you will still have the obligation to file your taxes in the USA and in some cases pay taxes in both the USA and the UK. You may apply for the Foreign Earned Income Exclusion that will let you not pay taxes on foreign earned income up to a certain threshold. For tax year 2021 that threshold is $108,700 per person. In any case, you should consult a tax consultant specialized in U.S. expats in the United Kingdom. There are many stories of Americans forgetting to file in the USA and how costly that mistake was, make sure you keep up with regulations both in the UK and USA.