It depends how much money you have in them If there isn’t much it could be worth taking it out in cash and then shopping around on the high street to find a money-changing place that will do you a good deal. Remember you can haggle with them to get the best rate.

Or, you could set up a Paypal account, get the money transferred into that and then change it into Sterling that way – although you are at the mercy of their exchange rate.

You could also get the money paid into a prepaid currency card (FairFX, Lloyds, Caxton etc) and have it changed into Sterling when you put it into the card. Then you use that card to buy things here.

A number of banks allow you to transfer money to linked banks overseas without a fee; usually it’s just an overseas arm of the same banking group. Companies like HSBC and Citigroup have branches all over the world so if you can set up an account with one of those, get the money paid into a branch in Germany, it might work better that way.

But if that’s not possible and the amount is large you probably have to go with one of the big money-changers like Moneycorp, Currenciesdirect or UKForex

Well, it rather depends on whether you are going to be living here full-time or not.

The BBA (British Bankers Association) says:

“If new to the UK, requirements might differ slightly by firm but typically
– Proof of address UK – letter of introduction from employer or tenancy agreement
– Proof of address home country – will typically want a bank statement or ID card

This assumes they will be a UK resident.

A lot of banks will not offer Non Resident GBP accounts for through the main branch network, but available through international or Wealth banking divisions subject to meeting their qualifying criteria.”

So if you’re only here off and on you would probably be best with an international account.

Caroline, this is a tricky one without knowing the specifics.

However, I have spoken to Unison – the union that covers Council workers, as you know – and they say that they would need to know where your husband works and how this situation has happened in order to help properly. Therefore, they say, “we can’t give specific advice, other than to speak to their local UNISON representative and join the union – this type of advice is exactly what we are here for”

So if your husband isn’t already a member, get him to join and ask their advice.

Ooh interesting question Arabella.

I have asked Joe Sword at Nordens.co.uk and he says this:

“When you are renting part of your home, you should consider whether rent a room relief will apply
The scheme lets you earn up to £4,250 per year (the threshold) tax-free from letting out furnished accommodation in your home. You halve this if you share the income with your partner or someone else.

You are able to let out a room or an entire floor.

How it works

The tax exemption is automatic if you earn less than the threshold. So you don’t need to do anything.

If you earn more than the threshold, you must complete a tax return

You can then either opt into the scheme and claim your tax-free allowance. You do this on your tax return.

You can choose not to opt into the scheme and instead record your income and expenses on the property pages of your tax return.

The fact that no formal contract exists shouldn’t affect the tax treatment, although you should be aware of your legal obligations dependant on your lodgers tenancy type.

The link below to HMRC’s website offers comprehensive guidance on this area:

https://www.gov.uk/rent-room-in-your-home/becoming-a-resident-landlord

If you rent your property to two or more people it may be classed as a House in Multiple Occupation (HMO), further guidance can be found below:

https://www.gov.uk/private-renting/houses-in-multiple-occupation”

Hi there H,

I’ve checked with the nice people at the DWP and this is what they’ve sent me:

“I assume that it is her private / workplace pension – rather than the state pension (which is due to underdo changes from April next year).

If so I would suggest TPAS http://www.pensionsadvisoryservice.org.uk/
Or possibly her union if it is a workplace pension
Or https://www.moneyadviceservice.org.uk/en

If it is her state pension, gov.uk has all the info
https://www.gov.uk/yourstatepension?gclid=CK6cgOmX38MCFWNz2wod9G4AwQ”

It depends on a few factors:

– which banks are close to her university and where she lives. Sometimes it can help to have a branch nearby
– how much of an overdraft she would like. It’s a good idea to speak to a few banks to see what they would offer to students and how helpful they are.
– once she has found a few she likes then she could look at the incentives they offer to students. Some give good stuff like a free student railcard or an iTunes giftcard. Obviously this isn’t the most important thing but if all other factors are the same, the extra can make up your mind.

Take a look here https://www.lovemoney.com/currentaccounts/?site=MoneyMagpie&source=1004201 for a list of good bank accounts with decent in-credit interest rates (if she is going to have money in the account much of the time).

It’s fairly straightforward. Scott Harrison, Chartered Financial Planner and Director at Prydis Wealth, says that you should fill in a BR19 form, available online. You will get a response detailing the state pension that you are entitled to.

Handy!

It’s now much easier to get a bank account once you’ve been made bankrupt.

This is what Marc Cowley of Christians Against Poverty says: “The short answer here is that different companies have different policies on this matter.

Once a person becomes bankrupt, it is essentially at the discretion of their bank or building society as to whether they will continue to offer an account to them. Unfortunately some banks do seem to have an automatic policy of closing accounts, and it is very likely that any bank account that is in debt (e.g. overdraft) would be closed by the bank following the customer’s bankruptcy.

The advice we always give our clients is that if they are in debt to their current bank they should open a new basic bank account before proceeding with a petition for bankruptcy. It is sensible to have a bank account open with a company to which you do not owe any money, and this can often result in your bank account not being affected by the bankruptcy process anyway. (However, even in this instance some banks may still wish to close your account – it really does depend on their specific policies.)

If you find yourself in the position where you have had your bank account closed following a bankruptcy petition, your best bet may simply be to shop around until you find somewhere that will offer you an account. Don’t be discouraged if you find that some banks will not provide you with an account – you may have to try a few before you are successful, so just keep at it!”

Hmm, it depends.

I’ve spoken to Mark Cowley at Christians Against Poverty (www.capuk.org) about this and he has said: “Debt Relief Orders (DROs) are one of the solutions available to people struggling with unmanageable debt situations. At CAP we find that DROs are a really helpful route to recommend to many of our clients who are otherwise unable to repay the debt that they owe, and who also cannot afford the much more expensive upfront cost of bankruptcy. The DRO route brings hope and a solution to many many people, and enables them to become debt free without many of the negative effects of bankruptcy.

DROs are a type of formal insolvency, which does mean there are a number of restrictions and implications of this route. For example, certain jobs and other roles are off-limits for a person doing a DRO, and because the DRO is listed on the applicant’s credit report it may be more difficult to obtain further credit after the DRO. These restrictions will affect some applicants more than others (for example if the applicant is already employed in one of the restricted roles), but by and large in our experience we find that the impact on these restrictions is minimal. Overall, I am confident that the benefits of a DRO for the clients we recommend it to outweigh the often minor negative effects they may experience, if any.”

Lynne I asked Lee Healey of IncomeMax about this as he is a specialist in benefits. This is what he said:

“Talk to a specialist benefits adviser. They will be able to analyse your situation and can help you understand the rules and responsibilities around benefits like Jobseeker’s Allowance, tax credits and other benefits. Being self-employed doesn’t automatically mean you can’t get benefits or financial support – but self-employed earnings, benefit conditions and things like the tax credits working hours rules can can cause confusion and conflicting advice from government departments. The government are also introducing Universal Credit and have issued guidance on self-employed claims.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/322280/uc-and-self-employment-quick-guide.pdf So also talk to your Jobcentre – it’s likely they will have experienced many self-employed cases similar to you and your husband’s. “