Your Questions About Money Making Schemes Uk

Mandy asks…

How do i get my room deposit back?

I was a tenant at this place and the landlady
did not give the deposit back.

Nagesh answers:

If your landlord lived in the same building, then you need to write giving 14 days to pay the deposit back or you will go to court. After 14 days claim at www.moneyclaim.gov.uk. In law the money is yours until the landlady proves she is entitled to any of it.

If your landlady didn’t live in the same building, your deposit should be in a protection scheme. If it is, contact the scheme and dispute the landlady’s claim to it. If you don’t know if it is in a scheme, you can use this form to email all 3 deposit companys http://www.snorkerz.com/deposit.html

If the deposit isn’t protected, follow my advice in the first paragraph. People will tell you you can claim 3X the value of your deposit in court for non-protection. However, it is really risky in terms of costs and a recent court case makes a tenants chances of winning very low.

Sandy asks…

What is the point of an off-shore bank account when working outside of the UK?

I currently work in Malaysia, and am considering whether to take part of my salary paid into an offshore account. I understand that the element of my salary which will be paid offshore will not be subject to Malaysian tax.
However when/if I return to the UK, if I want to move the money to the UK (which I would have to in order to spend it) will I have to pay UK tax on the money? Is there a legal way round this?
As I believe local tax on income is less than UK tax, I can not see the benefit on having any of my salary paid into an offshore acount. (Surely it makes more sense to pay (lower) local tax on my income, then I can move it into the UK with no UK tax implications)
Most expat financial advisors appear to be gearred towards setting up offshore accounts and presumealby they are handsomely rewarded for doing so. Therefore I am looking for some neutral advice on this matter. At this stage I do not know how long I will remain outside of the UK, however another 2 years is very likl

Nagesh answers:

Yes it is a tax thing.
Depends on how long you are staying outside of the UK
I moved to Ireland and until recently they operated a remit scheme. Whereby you only paid tax on the money you brought into Ireland. The rest whent offshore. To do it properly you have to de regester for tax in the UK. You then register for tax in the country you are working and meet thier tax obligations.
The money in the offshore account can then be sent to a UK bank account later or you can of course draw out the cash from a hole in the wall. You need to do it so it falls on UK tax periods. If you return to the uk inbetween a tax year you will have some messing about to do as part of your earnings will then be eligible for UK tax. There are other benifits but its a bit long winded

Susan asks…

Tips to travelling and working abroad?

I want to go travelling abroad. No plans yet, don’t know where to start. I want to work as I go to make money. I am going on my own. Anyone did it on their own? Anyone any advice on where to and how to start planning?

Nagesh answers:

Well working as you go could prove tricky unless you plan to spend the order of months in the same place. However if you dont want to pay much in the way of food and accommodation I’d suggest the WWOOF scheme http://www.wwoof.org.uk/how_it_works (http://www.wwoof.org/europe/). It seems to suit what you’re looking for. Alternatively you could do what a friend of mine did and go somewhere on a several month work visa (my personal choice would be in New Zealand) and work and explore the country on time off. Alone shouldn’t be a problem, I’ve done Italy (not working) on my own and you can easily meet people. However it’s more fun if you are able to meet friends at certain places or for a period of time.

I traveled Europe for 5 weeks this year and live in the UK. Started in London and took eurostar down to Brussels and went from there (via interrail), so whatever suits your geographical location! Also go to places you’ve always wanted to go to, that’s where you should enjoy it the most. Good Luck!

Lisa asks…

I am disabled and I need my fiancee in the UK with me. Right now I am in Canada and need to apply for settleme?

Right now we in Canada and we are trying to apply but we have little money to pay the $1059.00 processing fees. I need any advice on if we could go to the UK and apply within the UK based on my situation? We are on a very limited budget need every penny please advice me on what the options may be can the fee b e waived?

Nagesh answers:

Sorry no. You have to apply from your home country. The current fee is £644 and will be charged in the local currency (which sounds like the $1059.00 you mentioned). Having a disability makes no difference. The good news is that you do not need to pay for a certificate of approval which used to cost £295, but until the scheme is formally abolished you will still need to apply for one – remember both parties have to be over 21.

You will have to prove that once you are in the UK you can support yourselves without ‘recourse to public funds’ – moving countries is a long and expensive business.

Donna asks…

Where can I get funding to start a business?

I’m looking to start a business that requires the development of a large, complex web application. I’ve estimated that the development could cost anywhere up to £10,000. The problem is, I have very little of this money myself – so where can I source the required funding?

The options that I have thought of are:

– Business loan – but I have no real credit rating (Not bad credit, I’ve just not had much credit in the past) so not sure if this would be an option
– Funding from local authorities – I have received funding in the past from Business Link, but this was a number of years ago and I understand it’s much more difficult to get help now
– Outsider / VC Investment – I’d be willing to consider investment of this kind, but I have no idea how I’d go about finding someone to invest

Anything I’m missing?

Nagesh answers:

Princess trust is a good idea and the age limit is up to 30.
They can give you a low interest loan of £1000 – £5000 providing you have a detailed business plan, cash flow forecast and sales forecast, you will then meet with panel members who will make the final decission, but as long as you know your business you’ll be fine.
You mentioned working with Business link in the past, why havent you contacted them as they will have details of all local and european funding schemes for start up business.
Unfortunately objective one funding is nearing its end but its always worth a try.
Your best bet is match funding if you have little assets.
Banks such as Lloyds or barclays will meet with you to discuss funding but you need to provide a well thought out business plan.
Try match funding £5000 from Princes Trust, £4000 – £5000 from the bank and it would look good if you could even put in £1000 as it shows commitment on your part.
There are small business start up schemes all across the UK but you need to contact them all.
Venture capatalist won’t usually look at such a small ammount and will either want a high share in your business or to put a member of the team as a controling director, depending on your trading status ie sole ,Ltd, partnership.

Good luck and contact your local college and business link for start up funding schemes in your area.
Dont listen to those who say its impossible they are usually quiters, I’ve been there and done it, it just takes commitment, determination, discipline and belief in yourself and idea.

Money Making Schemes