Brexit DOOM™: Bloodbath in the City

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I'm gonna contact my accountant to see how complex things get if I start getting paid in SEK. How do you guys deal with getting in EU?

Getting paid in Euro? Or did you mean to say something else?

[KentDogWalker]

Getting paid in Euro? Or did you mean to say something else?

Eur or SEK is what I mean.

Just went for a contract in Sweden at £600pd. What do you think is causing the rates to rise?

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Eur or SEK is what I mean.

Well, if the client/agent is happy to make an international transfer then all you need is the IBAN number of your bank account. SEK will be converted into GBP by your bank. A better option would be to use Transferwise, as they will have better exchange rates.

Just went for a contract in Sweden at £600pd. What do you think is causing the rates to rise?

Weaker GBP + the agencies and the clients realising the contractors currently working in the UK can do math and won't move unless they can at least make what they are making over here. Expect more remote roles, too. They are already coming to the market in greater numbers than before. Again, this is because the EU clients now realise that not everyone wants to move to the mainland.

[BlasterBates]

Eur or SEK is what I mean.

Just went for a contract in Sweden at £600pd. What do you think is causing the rates to rise?

This will be taxed in Sweden, then also declared in the UK but tax paid in Sweden taken into account.

Always assume you are taxed in the country you work in. If it is not taxable the Swedish tax man will not charge any tax, but let him make that decision.

[KentDogWalker]

Well, if the client/agent is happy to make an international transfer then all you need is the IBAN number of your bank account. SEK will be converted into GBP by your bank. A better option would be to use Transferwise, as they will have better exchange rates.



Weaker GBP + the agencies and the clients realising the contractors currently working in the UK can do math and won't move unless they can at least make what they are making over here. Expect more remote roles, too. They are already coming to the market in greater numbers than before. Again, this is because the EU clients now realise that not everyone wants to move to the mainland.

Shall I open the champagne or will I wait for you to pull out the Rose?

[KentDogWalker]

This will be taxed in Sweden, then also declared in the UK but tax paid in Sweden taken into account.

Always assume you are taxed in the country you work in. If it is not taxable the Swedish tax man will not charge any tax, but let him make that decision.

Could be a lot of headaches for my accountant.

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Could be a lot of headaches for my accountant.

That's what you are paying her/him for.

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Shall I open the champagne or will I wait for you to pull out the Rose?

Only if you actually get that role at the rate you like ;-)

[BlasterBates]

Could be a lot of headaches for my accountant.

You should be using a Swedish accountant. In the UK you simply fill out a box on a form and staple the Swedish tax return to it.

[SueEllen]

I'm gonna contact my accountant to see how complex things get if I start getting paid in SEK. How do you guys deal with getting in EU?

The EU isn't a single country.

The first thing to do is check out the tax laws for Sweden* and confirm you can use a UK limited company. Start of the presumption you can't and work out what you are going to use instead.

If you then find you can use one legitimately e.g. you are only in Sweden 2 days a month and the contract is 6 months long, then and only then worry about doing transfers and your UK accountant.

*Luckily for you Sweden has government tax pages in English.