Money and Banking

British currency has two units the pound and the penny with notes issues at 5, 10, 20 and 50 pounds. Visa and MasterCard are accepted at most cash dispensers but may not be the cheapest way to access your money.

UK Bank Account

We are affiliated with UK banks so we can assist you with setting up a bank account. This service is free and easy to set up. To apply it’s just a simple matter of filling out an application form and choosing from a wide range of accounts to suit your needs. Once you arrive in the UK you can activate your account by visiting your nearest branch with your photo identification to activate your account for use. For more information on setting up a bank account with Vision for Education, please contact us

You will be able to transfer your money electronically from your own account to your UK account at any stage for what is usually a small fee, but it is advisable to travel with a least a small amount of cash in British currency. It is better to exchange some cash in advance rather than doing so on your arrival at airports or exchange booths as the rates of exchange will be poorer.

Pay Structure

Vision for Education, unlike other agencies, offers a tiered pay scale. Our rates of pay and benefits are determined by your skills and experience, location and the UK national pay scale. They will vary according to the length, nature and location of the job and the level of your experience. We strive to ensure that our pay rates reflect the costs of living in the location where you are placed. Generally, you can expect to earn a higher rate of pay for longer term positions rather than supply teaching. For teachers seeking long term work, there are two ways in which you can be paid.

1. By Vision for Education on timesheet- This means that your first pay will be deposited into your account one week after you start work, and will continue on a weekly basis. Our rates of pay are constantly reviewed in order to remain competitive and in line with the cost of living.
2. By the School- This means the school will pay you directly. We will make sure that your yearly salary is in line with the British national Pay Scales and that you are awarded extra salary points where applicable. Your pay will be based on an annual salary and will normally be paid monthly in arrears.

For more information on UK Pay Scales please visit: http://www.teachers.org.uk/salary/pay_calc_2007_ew.php

Tax

Unless you have a UK tax exemption, it is a legal requirement that both Income Tax and National Insurance are deducted from your gross pay. Your net pay will depend on your personal circumstances. For more information visit the HM Revenue & Customs website at www.hmrc.gov.uk

Claiming Expenses through a Limited Company

Vision for Education is partnered with a company called FPS- Freelance Professional Services. If you have a visa which allows you to set yourself up as a Limited Company while in the UK you will be able claim back “Business Expenses” which minimize the amount of tax you have to pay and therefore increases your weekly pay. You can claim on all “Business Expenses” that you have incurred wholly, necessarily and exclusively in the performance of your employment duties. A proportion of Travel, Subsistence and Accommodation can be claimed.

Pre-Paid Travel Cards -A great, safe and easy way to travel with your money is with a pre-paid travel card which you pre-load with your funds before you travel. These cards are used in the same way as a regular credit/debit card to purchase goods but you cannot run into trouble as you are spending your own money! Both Visa and local Post Offices offer travel cards.

Traveller’s Cheques – A traveller’s cheque is a pre-printed, fixed amount cheque that requires a signature to pay for goods or services, however this method although safe and easy is a little outdated and not always widely accepted. The traveller’s cheques work in a similar way to the pre-paid cards which have tended to replace this as a safe method to travel with your money.

Debit/Credit Cards – it is a good idea to have a credit or debit card from your own country so you always have access to some funds. Charges for the use of your card may be high so it is always good to check with your bank about their administration and transaction fees before use.

Other Important Money Points

When applying for your visa you may be advised on the funds needed in your account prior to travel. Although in most cases you will be starting work soon after your arrival in the UK, you will need some funds to support yourself until your first pay. We recommend the equivalent of at least 2000GBP.

The main expense on your arrival will be to cover miscellaneous costs associated with your accommodation. To rent accommodation most agencies/landlords require at least 1-1 ½ months rent in advance as a deposit so you will have to pay this upfront.