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Money, banking and tax

UK Money, Banking and Tax Guide for New Arrivals

Understand bank accounts, basic accounts, National Insurance numbers, PAYE, Self Assessment, credit scores, budgeting, cost of living support, scams, and emergency help.

Plain-English summary

The first money tasks are usually a safe bank account, National Insurance number if needed, understanding payslips and tax, building credit carefully, avoiding scams, and knowing where emergency help exists.

Best for: New arrivals setting up money, work, tax, and household finances.

What this guide covers

Opening a UK bank account and basic bank accounts for limited documents
National Insurance number guide
PAYE tax, Self Assessment, income tax bands, and council tax overview
Credit score, building credit history, avoiding debt and payday loans
Budget planner for new arrivals
Cost of living support and benefits calculator links
Sending money abroad safely
HMRC scams, visa scams, bank scams, WhatsApp scams
Emergency financial help: food banks, local welfare assistance, hardship funds

Set up safe banking

Banks may ask for ID and address evidence, but basic bank accounts and some digital accounts can help people with limited UK history.

  • Compare account requirements before applying.
  • Check the FCA register for unfamiliar financial firms.
  • Avoid paying strangers to open accounts or receive money for them.
  • Keep account statements for rent, visa, benefits, and citizenship evidence.

Understand tax documents

Employees usually pay tax through PAYE. Self-employed people usually need to keep records and may need Self Assessment.

  • Keep your National Insurance number secure once issued.
  • Check payslips for gross pay, net pay, tax, National Insurance, pension, and deductions.
  • Keep P45 and P60 documents.
  • Register for Self Assessment if your situation requires it.

Avoid high-risk debt and scams

New arrivals can be targeted by fake visa calls, HMRC threats, bank impersonation, fake job fees, and loan traps.

  • Do not share one-time passwords or bank login details.
  • Do not pay visa or tax money through gift cards, crypto, or personal bank accounts.
  • Check debt advice early rather than using payday loans repeatedly.
  • Use local councils, food banks, Turn2us, and charities for crisis support.
Important warning
If someone says you must pay immediately or be arrested, stop and verify through an official number or advice service.

Checklist

Use this as a practical planning list, then confirm official rules for your status and local area.

  1. 1List ID and address documents you can use for banking.
  2. 2Apply for a National Insurance number if you need one and do not already have one.
  3. 3Create a monthly budget for rent, bills, food, transport, childcare, debt, and savings.
  4. 4Check council tax, energy, water, broadband, and phone costs before signing a tenancy.
  5. 5Save trusted debt, benefits, grant, and scam-reporting links.

Trusted starting points

Use official and established advice sources before relying on social media, forums, or paid services.

Apply for a National Insurance number

GOV.UK

Official NINO application information.

MoneyHelper

MoneyHelper

Free guidance on money, debt, pensions, benefits, and banking.

Benefits calculator and grants search

Turn2us

Check possible benefits, grants, and charitable support.

Report a scam

Citizens Advice

Advice on reporting scams and protecting yourself.

Related guides

Money, banking and tax

Open a bank account

Practical guide to standard current accounts, basic bank accounts, digital banks, ID, address evidence, safe banking, scams, and alternatives.

Money, banking and tax

Tax and NINO

Beginner guide to National Insurance numbers, PAYE, payslips, P45, P60, Self Assessment, tax codes, council tax, and record keeping.

Benefits and support

Public funds and NRPF

Plain-English guide to public funds, NRPF, benefits, housing support, refugee and asylum support, hardship options, the Habitual Residence Test, and charity grants.