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Full time arbers and national insurance/pension in UK.

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XxSMIL3xX
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Full time arbers and national insurance/pension in UK.

Wed Jan 15, 2014 5:41 pm

Can any one who lives in UK and is a full time arber tell me please what are you telling in the job center, to the landlords or even to the banks and of course to the HMRC when they are asking you , your job?

Is it possible for an arber to pay NI and how?As self employed ? As a director of his own ltd company?Maybe voluntary?
I ll ask my accountant but i would like to read some suggestions.

Thank you all!!!

XxSMIL3xX  !!!
I was living in Greece but now i have relocated over the UK.
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Re: Full time arbers and national insurance/pension in UK.

Wed Jan 15, 2014 6:22 pm

XxSMIL3xX wrote: I was living in Greece but now i have relocated over the UK.
Smart guy.
Lansky
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Re: Full time arbers and national insurance/pension in UK.

Wed Jan 15, 2014 10:42 pm

Gambling earnings are taxable if they constitute a business (ie. you're in the business of gambling full time). Those tax loopholes were meant for occasional winnings from pools and raffles. So some of you guys might be up shit creek without a paddle if your tax collectors ever catch-on and do an audit.

What's the statute of limitations for tax fraud in the UK? The deeper the debt hole gets the more inquisitive and farther reaching your MPs will get in the name of bringing in some revenue.
In Arbitrage, Percentages are Vanity and Turnover is Sanity.
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Re: Full time arbers and national insurance/pension in UK.

Wed Jan 15, 2014 11:20 pm

Lansky wrote: Gambling earnings are taxable if they constitute a business (ie. you're in the business of gambling full time). Those tax loopholes were meant for occasional winnings from pools and raffles. So some of you guys might be up shit creek without a paddle if your tax collectors ever catch-on and do an audit.

What's the statute of limitations for tax fraud in the UK? The deeper the debt hole gets the more inquisitive and farther reaching your MPs will get in the name of bringing in some revenue.
It seems to me they cannot constitute a business, even for professionals. http://www.hmrc.gov.uk/manuals/bimmanual/bim22017.htm
Last edited by qbet on Wed Jan 15, 2014 11:22 pm, edited 1 time in total.
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Re: Full time arbers and national insurance/pension in UK.

Wed Jan 15, 2014 11:47 pm

... but it's not so clear any more after reading the next case, as the practices of an arber resemble those of a bookmaker http://www.hmrc.gov.uk/manuals/bimmanual/bim22018.htm
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Re: Full time arbers and national insurance/pension in UK.

Thu Jan 16, 2014 6:39 pm

If ever a bomb-making unassimilated Muslim got picked up anywhere in the UK who was supporting themselves with the proceeds from arbitrage betting your revenue services' stance would likely change.
In Arbitrage, Percentages are Vanity and Turnover is Sanity.
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Re: Full time arbers and national insurance/pension in UK.

Fri Jan 17, 2014 1:29 pm

Fisrt of all thank you for your replies.

@bri999 to be honest mate i am already retired although i am only 32 years old.I managed to earn some money which i invested them in real estate in UK.So i had an reasonable income and i was travelling the world.
And suddenly the laws in Greece started to change every month.Every month new taxes.
So i came in UK to get rid the Greek state.

BUT if i want to be erased from greek tax system i need a paper from hmrc.
To get this paper i shall have the NI number.
To take the NI numbet i must go to the job centre.
There they asked me why i want it.
I told them lots of truths.But they wrote that i am just seeking for job.Cause all the others would make it more complicated and maybe my apply would be rejected.

So ok.99% they will accept it as i ve been told.But the guys there really helped me.And they didnt write the truth although i told it to them.

The landlrods now...
Although i have a few properties i didnt want to rush out any tennant so i rented i house.
Believe me...It was so so hard.And i have incomes from the properties and big bank account and i payed all the rents infront.They were asking for a paper from my boss all the time.
Someone without all these i dont know how he will manage to rent a house...

Same with the banks.They need a paper from my boss or to live here more than 12 months or or or or or or...
Especially hsbc...I am not going there again.
But next week  i ll be ok.


And the last one.
As i was travelling around the world i met lot of expats.All the youngs were lalala and lololo!!!!!
But the oldies...They all had a big problem...Healthcare insurance.
So yes.I am able to retire and i already have a good pension...But what about health insurance?
I ve searched a lot and a lot and a lot.
All the big companies like bupa etc etc are really tricky...Cause they cover you till the age of 65 or 70 and then they are re-examinating you.And they are telling you "Ohhhh you are a smoker...we do not cover you the cancer"...
And of course they double your fees.And they do it again every 5 years.

So in my head it sounds very nice to pay voluntary or i dont know how some money in UK so i ll be able to have a pension but also healthcare insurance.

Finally best country about this is Ecuador.You can take an ecuadorian passport after 3 years and they have private healthcare insurance till the age 120+.This is by plan B.

Thnaks guys.
Great to have you here.
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Re: Full time arbers and national insurance/pension in UK.

Fri Jan 17, 2014 2:48 pm

I like this forum a lot. It's a great pleasure to meet other Full Time Arbers :D
XxSMIL3xX
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Re: Full time arbers and national insurance/pension in UK.

Fri Jan 17, 2014 3:39 pm

@bri999
I am not intend to spend the rest of my life in UK...i do not like the mix of cold and rain.
I was in Thailand,Cambodia,Laos.Magical places!
And i ll do another trip in South America to decide which neighborhood of the world i like most.

So if i manage to have a company here or something and keep paying it will be awsome.

For example if you have an LTD company you can be employee of your self as a director of the company.
And with a wage of 600 pounds per month you pay almost nothing for pension and insurance.
The LTD is able to send you everywhere in the world for example to find new investment deals.
But...The ltd must not have properties under its name.
So an ltd will not suit me.
I must find something else.

P.S i already pay a lot of taxes in UK.I also pay an accountant,a solicitor and some management companies.

P.S 2 private healthcare insurance companies are always tricky.I do not want to have problems when i ll be old.
I ll solve this now.One way or another.I ll not wait for a clever goldenboy to discover a new idea on how he will not cover me or my wife.

P.S 3 nobody answered what he is telling when he is being asked about his job!!!
Last edited by XxSMIL3xX on Fri Jan 17, 2014 5:26 pm, edited 1 time in total.
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Re: Full time arbers and national insurance/pension in UK.

Fri Jan 17, 2014 4:54 pm

If you have a friend there with a firm he can employ you ,if you earn til 12k you will not pay any tax or you can be self employed like a webdesigner and declare your own income.
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Re: Full time arbers and national insurance/pension in UK.

Fri Jan 17, 2014 5:34 pm

XxSMIL3xX wrote: P.S 2 private healthcare insurance companies are always tricky.I do not want to have problems when i ll be old.
I ll solve this now.One way or another.I ll not wait for a clever goldenboy to discover a new idea on how he will not cover me or my wife.
You've got that right!

Social Insurance premiums in most countries are collected solely from earned income. Self-employment can be a real bitch because then you're held liable for both the employer and employee's amount of the premium (basically paying the same thing twice).

As for Arbitrage Betting itself a strong strong case could be made that it is no different from arbitrage in the forex and commodity markets: unearned income in the form of capital gains. In the states it's taxed as a blended 60% long term/40% short term.

Of course if you are paying tax on your arbitrage then you are also able to deduct losses and expenses. 
In Arbitrage, Percentages are Vanity and Turnover is Sanity.
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Re: Full time arbers and national insurance/pension in UK.

Fri Jan 17, 2014 6:07 pm

You can't declare arbitrage betting because of the friends part
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Re: Full time arbers and national insurance/pension in UK.

Sat Jan 18, 2014 12:11 am

The landlrods now...
Although i have a few properties i didnt want to rush out any tennant so i rented i house.
Believe me...It was so so hard.And i have incomes from the properties and big bank account and i payed all the rents infront.They were asking for a paper from my boss all the time.
Someone without all these i dont know how he will manage to rent a house...

Same with the banks.They need a paper from my boss or to live here more than 12 months or or or or or or...
Especially hsbc...I am not going there again.
But next week  i ll be ok.
Couldn't the letting agency that manage your properties help you at all? I find it very surprising that you had so much trouble, given that you have assets that generate income in the UK. Things used to be a lot easier for Greeks.

About the bank. Did you try to open a premium(premier) account? I think employment won't matter so much in that case but you will  have to make a sizable deposit and commit to that for a period of time. Later on you can convert to a more basic account if you no longer meet the requirements, but the account itself is for life, even after you are gone from the UK. After that they will never really ask you again about your employment details, unless you ask for credit. You might have better luck with Barclays.
Last edited by qbet on Sat Jan 18, 2014 12:15 am, edited 1 time in total.
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Re: Full time arbers and national insurance/pension in UK.

Mon Feb 03, 2014 10:14 pm

Thank you Qbet for your reply.I was back in Greece for a while.

-The agencies i am working with are not in the same area.Also we wanted the house we like most.
Not the one that our agencies had.
Finally some properties are under an ltd.
But this is over.As i said everything was easier when they saw the bank account.

-My wife is already a premier client.
About me now in HSBC they really pissed me of.
I went the 1st time and show them the tenancy contract.
They told to come again after 3-4 days.
When i went they told me that the contract was for 6 months and that they wanted a contract for at least 12 months.
I went again after a week with a bill.
Then they discovered that they want statements of my greek bank accounts...

Then because i didnt want to have money in greece i had send them in my wifes name abroad some months ago as she already had an account abroad.
So i had to send them back to my name ,take a new statement from the greek bank and and and and and and and....

So i went to others banks and i did my job.
But lloyds and natwest now telling me that i cant open a euro account.They stooped opening euro accounts.
So i only have a sterline account...

I ll try barclays.Maybe tomorrow.

So at the end everything is good.
But they really pissed me off.Oh i have and my NI number...

Maybe i am just used from greece and thailand where you are doing everything easier...
Even so in Greece things are hard too the last 2 years.


My point was if i could tell to banks,agents,jobcentres etc etc that "hello i am an arber,i am earning xxxxxxxx and i want this,this and that and show them the proves of course if they wanted to"
And not all this bla bla bla...
Last edited by XxSMIL3xX on Mon Feb 03, 2014 10:33 pm, edited 1 time in total.

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