Finance
Your salary must be paid into a UK bank or building society account so it will be important for you to open a bank account as soon as you arrive in the UK.
Before you leave home, it can be helpful to talk to your current bank to see if they have any links with banks in the UK.
There are many different types of account available in the UK and it is possible to have more than one account with more than one bank or building society. Each bank/building society can talk you through the range of bank accounts available to suit your personal circumstances.
To open a bank account, complete an application form (available from the bank) and return it to the bank with any documents they need to see. These usually include:
• Your passport
• Evidence of your international address (e.g. your international driving licence)
• Evidence of your UK address (e.g. your tenancy agreement)
• Proof of employment (e.g. a letter from Human Resources is available on request)
You can obtain a letter from Human Resources confirming your employment, please contact us requesting a bank letter with both your overseas and UK address. Once the letter is ready you will be contacted to let you know.
If you can, take all of these with you when you go to open an account, as this will make the process quicker and easier.
Tax & National Insurance
While in the UK, you will be required to pay income tax on your earnings once they are in excess of the tax free allowance. More information about tax free allowance is linked below.
As an employee of Loughborough University, your income tax will be automatically deducted from your pay using the Pay As You Earn (PAYE) system.
Subject to your earnings, you may also be required to pay National Insurance. The contributions are collected by HM Revenue and Customs through the payroll system and go towards benefits such as the National Health Service (NHS) and the state pension. You can start work without an NI number but you'll need to apply straightaway and let us know your number when you receive it.
For further information and to apply for a National Insurance Number please see below.
Pension
All employers in the UK are required to offer their employees a pension scheme. As an employee of Loughborough University, you will be automatically entered into a pension scheme from the start of your contract. Both the employee and the University contribute to the scheme.
The pension scheme you are enrolled for will depend on the grade of your position at the University:
For staff on grade 6 and above – the Universities Superannuation Scheme
For staff on grades 1 to 5 – the Local Government Pension Scheme
Further information about the pension schemes is available below.