# is 80,000 GBP per annum enough in London??



## huhahaha (Feb 20, 2011)

Hi

I have been offered a compensation of 80,000 GBP in London..
is it enough?
will i be able to live comfortably and have fun and at the end save few bucks too?? 

Kindly comment


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## huhahaha (Feb 20, 2011)

Added info

1) I am 24 year old male
2) would prefer living comfortably than living in crowded apartment
3) Loves to drink and socialize


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## Vegasgirl94 (Feb 12, 2011)

Your buck will go further if you live outside of the city. Is that an option? To me for a single person that seems to be more than enough, but would go further if your cost of living wasn't dependent on central London. 

Sent from my iPad using ExpatForum


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## InspectorClusoe (Dec 18, 2010)

You wont save any bucks as our currency is not the dollar I suggest you go and look at a map


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## 90199 (Mar 21, 2010)

£80,000 most English people can only dream of such riches!!

Hepa


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## jojo (Sep 20, 2007)

I'd say its a fairly comfortable amount, especially if you're single

Jo xxx


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## nauru (Aug 23, 2009)

With that salary you will be richer than the vast majority of British people. 80k is in roughly the top 3 or 4% of incomes in the UK.

Income in the United Kingdom - Wikipedia, the free encyclopedia


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## 90199 (Mar 21, 2010)

jojo said:


> I'd say its a fairly comfortable amount, especially if you're single
> 
> Jo xxx



A slight understatement!! £80,000 you will be stinking rich! I never earned anywhere near that much and I am very well off.

Take the offer and enjoy it,

Hepa


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## huhahaha (Feb 20, 2011)

But i was told that large part of the gross salary will be paid in taxes..Like 40% of it

will it still be enough after taxes???

Thanks guys for your help


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## xabiaxica (Jun 23, 2009)

huhahaha said:


> But i was told that large part of the gross salary will be paid in taxes..Like 40% of it
> 
> will it still be enough after taxes???
> 
> Thanks guys for your help


it would still be much more than the majority of people in London/the UK live on


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## Punktlich2 (Apr 30, 2009)

huhahaha said:


> But i was told that large part of the gross salary will be paid in taxes..Like 40% of it
> 
> will it still be enough after taxes???
> 
> Thanks guys for your help


If your employer is located outside the UK, you will, with proper planning, pay UK tax on only a fraction of what you earn, particularly in the first 5 years.

There are national insurance concessions in such cases, and non-domiciled benefits are still available. Plus you can opt for pension contributions, the more so if some of your compensation is attributable to work performed, say, in the United States during periodic business trips.

You will find consultation with a cross-border tax expert very worthwhile. But be careful: not all are equally competent.


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## nauru (Aug 23, 2009)

Can you please be more specific about these national insurance concessions?


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