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theBengi
Joined: 11 Oct 2007
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 Posted: Wed Feb 25, 2009 6:23 pm Post subject: Paying taxes working for GEPIK |
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What taxes do Brits pay when working for GEPIK for the first time?
Is there anyway for us to opt out of pension contribution?
also when sending money back to UK what details do i need to give to the korean bank.. I know IBN number is needed..anything else? address of UK bank maybe?
cheers in advance |
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gazz
Joined: 13 Oct 2008
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| Posted: Wed Feb 25, 2009 7:10 pm Post subject: |
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As for the pension, you have to pay it and being from the UK you cannot claim a single won of it! This is a fact!
To send money home you need to give the bank your sort code and account number as well as the address of the bank.
To set up the account you need to take your passport, Arc card, the bank book + card of your other account (the one your pay goes into) and take a Korean with you because they need to co sign the paper work.
I signed up for a Visa card at the same time as setting up the transfer thing so maybe you will not need a Korean to sign. |
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theBengi
Joined: 11 Oct 2007
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| Posted: Wed Feb 25, 2009 7:14 pm Post subject: |
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| gazz wrote: |
As for the pension, you have to pay it and being from the UK you cannot claim a single won of it! This is a fact!
To send money home you need to give the bank your sort code and account number as well as the address of the bank.
To set up the account you need to take your passport, Arc card, the bank book + card of your other account (the one your pay goes into) and take a Korean with you because they need to co sign the paper work.
I signed up for a Visa card at the same time as setting up the transfer thing so maybe you will not need a Korean to sign. |
cheers gazz, is it true brits pay less tax working for GEPIK? |
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fromtheuk
Joined: 31 Mar 2007
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| Posted: Wed Feb 25, 2009 8:06 pm Post subject: |
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| All Brits pay no tax at all for the first 2 years of employment, they should know that. Tell them if they don't. |
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gazz
Joined: 13 Oct 2008
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| Posted: Wed Feb 25, 2009 8:07 pm Post subject: |
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| I don't know because I don't work for GEPIK - I however pay just over 4% in tax a month here. |
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theBengi
Joined: 11 Oct 2007
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| Posted: Thu Feb 26, 2009 5:01 am Post subject: |
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| fromtheuk wrote: |
| All Brits pay no tax at all for the first 2 years of employment, they should know that. Tell them if they don't. |
hey mate, is that just for GEPIK or all employment?
is that suppose to be on the contract? or just a general rule. |
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English Matt
Joined: 12 Oct 2008
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| Posted: Thu Feb 26, 2009 6:52 am Post subject: |
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| theBengi wrote: |
| fromtheuk wrote: |
| All Brits pay no tax at all for the first 2 years of employment, they should know that. Tell them if they don't. |
hey mate, is that just for GEPIK or all employment?
is that suppose to be on the contract? or just a general rule. |
It only applies to those working at public schools and universities (when directly employed by the university) - so if you work for SMOE, EPIK, GEPIK or one of the other government run state programs then you'll be exempt from paying income tax. You'll still have to pay pension and healthcare though. If you work for a hagwon or afterschool program then you will not be exempt.
Also, you won't need a Korean to sign any paperwork when you transfer money...but every time you do it you will need your passport, ARC, bank account details in the UK (including address of home branch) and your Korean bank book and card.
Gazz, did you find it easy to get a Visa card here? |
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theBengi
Joined: 11 Oct 2007
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| Posted: Thu Feb 26, 2009 4:09 pm Post subject: |
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| thanks guys.. u have been very helpful. |
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creeper1
Joined: 30 Jan 2007
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| Posted: Thu Feb 26, 2009 4:26 pm Post subject: Document needed |
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It is not true that the public school will simply not tax you. My school requires some documentation or proof of residency in the UK. I believe someone on here used a P45 which did the trick.
If it's possible to avoid paying tax in both the UK and Korea (legally it's not believe me) then you're laughing. |
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fromtheuk
Joined: 31 Mar 2007
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| Posted: Thu Feb 26, 2009 4:30 pm Post subject: |
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| My school's previous native teacher was British. They knew I didn't have to pay tax, and so I didn't pay it. That's my understanding. |
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