LMS_First_things

It is very important to register with a GP as soon as possible, as you'll be registered with the NHS and will therefore be entitled to free medical services and discounts on dental services (though not when you are only a visitor, for more details about the Health Services) Do this, as you might need a GP sooner than you think. If you are interested in doing ‘Drug Trials’, registering with a GP might prove to be important in the long run.

DESPERATE FOR A JOB - Low on cash?

You might arrive in London very low on funds and will therefore need to find work as soon as possible. Good jobs can take a while to fall into your lap - so the best is to take what you can get for a start. Picking and Packing can be the best option to start with, but remember you will still only get paid a week in arrears and you will work long hours for peanuts. Extraman (opposite Earl's Court Station) in Earl's Court has work available most of the time. Security work is a popular option for many newcomers to London. Contact agencies regarding this if you are interested.

Getting hold of the TNT might be a good idea, but then you really have to phone up all the places as soon as possible, since the best jobs advertised here get snatched up very quickly. If you are willing to participate in Medical Trials, contact the units immediately. There is nothing that can give you as good a kick-start as these.

You can only apply for this once you've got a job. But bear in mind that you should do this as soon as possible. One day when you want to claim back your tax, you will need a NI number. It can take a few months before you get the number, so don't postpone - do it without delay. For more infor-mation, advice and contact numbers on National Insurance see here.

Remember: In London they cut red-tape sideways!

Opening a Bank Account

It is important to open an account as soon as possible, but you will find it very difficult if you don't have a job yet. You won't quite need a chainsaw, a crowbar or an underground drill with diamond bits to open an account, but it can be difficult.

The banks in England, and especially in London, are notorious for bad service and the problems they can give prospective clients in opening an account.

The main “High Street” banks are:

Barclays Bank, Lloyds TSB, National Westminster, HSBC

It can be difficult to open an account, but it should not be impossible. The banks are very rigid in their requirements for opening accounts - but these may be inconsistent from one branch of the same bank to the next. So if you have trouble with one branch, go to the next. It is a good idea to open an account with banks that will provide you with good international services, where you can (for example) withdraw money without hassles in other countries.

If you handle your account responsibly and there is a good cash flow, you can even apply for credit facilities. As with any bank, your service will largely depend on the personal relationship you build with your banker. Unlike the banks in Bitterfontein, London’s banks are likely to lack that extra special personal touch. You might find things better as you move out towards the countryside.

Be prepared to find all the transactions a day behind. Sometimes it can take a bizarre length of time for money that you've withdrawn to be debited against your account, allowing you to slip unknowingly into overdraft (you know, that thing that was devised by the devil). Penalties on overdrafts can be heavy, and in most cases are charged per fixed rate of e.g. £10 or £20 per day. Not nice! If you draw a balance enquiry today, it will show yesterday's balance. Similarly, if you deposit cash today, it will only be available for withdrawal tomorrow. Bank hours are slightly different from those of most banks in South Africa during weekdays (9h00-16h00) and most banks are closed on Saturdays. No service fees, apart from cash point (other than your own bank’s) and transfers charges, are a plus factor. Cheques take 4 working days to clear.

To open an account you will need:

•Proof of identity (e.g. passport);

•Proof of employment (your employer might be able to open an account for you);

•Proof of address (official letterhead or a bill in your name - depending on the bank);

•References of previous accounts may be required (e.g. letter from bank in South Africa).

Cashing Cheques

Forget it, unless you have loads of time to waste. You might get helped if it's a pay cheque and the company has made arrangements with the bank - or maybe if you’re the Queen.

Take note!

These days it seems easier to open an account at a building society (such as Halifax). You do not receive a cheque book, but rather a debit card. You will thus have an account into which you can deposit funds, or from which you can withdraw cash.

Loyds Offshore is also a new alternative to the conventional High Street Banks. www.lloydstsb-offshore.com

Transferring money to South Africa

Although you will be able to do this through most banks, they will require that you have an account with them. This could pose problems if you have just arrived and want to transfer money back home and you don't have an account yet. There is an ABSA branch in London through which you can transfer money to an ABSA account in South Africa. The advantage of this service is that you don't have to have an account in the UK, but you can only transfer money to any of the ABSA affiliates in South Africa. Transferring amounts up to £1 000 will cost £20, and for amounts of more than £1 000 it will cost £35. These rates compare well with Lloyds (£19 express, although it’s £13 standard) and Barclays (£28), but for these services you must have an account at the specific bank.

ABSA’s address: Second Floor 75, King William Street, London, EC4N 7AB, Tel: 020 7711 6400 Fax: 020 7711 6550. (Tube: Opposite Standard & Chartered Bank, Monument Tube)

Once you have an account in the UK and are in possession of a chequebook, the cheapest way to transfer pounds to South Africa is by depositing your pound cheques in your South African bank account. In practice this means that you send signed cheques via registered mail or with a friend (which is safer) to your relatives. If you want to transfer a certain amount, you simply ask the person in possession of your signed cheque to fill the amount in on the cheque and to deposit it in your account in South Africa. The advantage of this is that you don't pay service fees in the UK and that you will only pay a processing fee of approximately R80 in South Africa, which is still considerably cheaper than £15. While the cheque may take a few days (5-10 days) to clear in South Africa, it could take up to a few weeks to show on your account here - keep this in mind to avoid going over your limit.

If you send the pound cheque to South Africa with a friend, please ensure the friend completes the necessary Excon forms, i.e. the cheque must be deposited into your own account and the deal slip issued in your name.

Never transfer money to SA using your credit card (i.e. Master or Visa deposit in pounds for credit of a rand account) or facilitators (i.e. cashing pounds with friends and family visiting from South Africa). Not only does the facilitator face a jail sentence, your assets may also be forfeited. We live in a post-9/11 era.

Transferring UK- (foreign)-earned income and capital into South Africa is tax free and if done properly by a South African (Excon) Authorised Dealer will protect your “foreign”-based income. You may use a South African to carry your pound cheque to your South African bankers.

Funds officially transferred into South Africa and supported by a UK payslip (or any other evidence of a foreign source), together with the deal slip (showing foreign currency converted into rand), will effectively “increase” your R750 000 Foreign Investment Allowance, i.e. you can take the funds sent to rand back into Pounds without prior approval from SARS. This section B(5)(I) Ruling will therefore assist you in ring fencing foreign assets against the Excon rules of South Africa.

A tough topic but true! …

Should you be terminally ill, i.e. have a short life expectancy, transfer all your ex-UK funds held in rand back into Pounds. This right to freely “swop” between currencies is lost, i.e. upon death all your assets in rands will be trapped in SA unless your heirs live in foreign territories permanently (i.e. not temporarily abroad).