[Closed] International workers of STW - £ $ or €?

I would imagine being paid in anything different to how you have to pay the bulk of your bills is a risk. You could do very well out of currency changes, but equally you could find yourself unable to pay the mortgage in £s.

When I was international I got paid in dollars.

It worked well , just be aware that getting it paid into your UK account will incur international transfer fees and FX rates.

Be warey of some of the standalone FX services and your wages -research heavy if you plan to do this , they are not fcfs protected -or at least weren't

Overall due to the pound performing poorly I gained well out of being paid in dollars be aware that goes both ways . I had colleagues who worked in Baku during the pound regaining 5? Years ago. Every week was like a significant paycut against them

I had ex colleagues who went to sakalin they ended up paid in roubles .......useful.

Definitely not expert in this, but I have some experience... first thing is where is the work being done, where will you be located, where are you personally domiciled for tax purposes and assuming you are doing it through your own Ltd Co, where is it registered?

There is a lot to weigh up, so make sure the day rate is worth the weighing of the additional complexity. Make sure you have a good accountant who is familiar with these sorts of arrangements.

The FX houses for bulk transfers ... my experience is that dealing with them is a hateful thing to do for pennies on the pound. TransferWise is good because of its simplicity, and relatively competitive rates.

On day to day banking... look at (ahem) HSBC. You can hold multiple accounts in varying currencies and swap money between them without fees on a spot rate that is middling. Of course you could do better elsewhere, but unless the sums are really significant there is a lot to be said for seeing everything in one place and making life easy.

I can't let this go without being political ... if I was in your shoes I would almost certainly choose the Euro, but that might be more to do with anger and petulance at the Tories and Trump than sound economics.

Living in Scotland (for now) and working in Israel. I'm technically an employee of an Israeli company and am in Israel >6 months/year so they sort out all tax on their side and then I just pay the difference between Israeli tax and UK tax. No Ltd company. There is a potential move to Cyprus in the next couple of years but that is in no way guaranteed.

Not trying to be political but I can see £ lose value at Brexit and the £/$ ratio is at close to historical lows, so I’d go for €. All a bit of a gamble. Although the very sensible option if you want to make sure of your salary is to get paid in £. I have a HSBC $ account and it works really well for the occasional times I have been paid for some work in $ to transfer the cash to £.

I’ve been paid in US$ for years. Over the long term it all evens out, some years you feel as though you’ve taken a massive pay cut, others you feel flush. There’s no way you can avoid losing a percentage of your earnings to currency changers, so unless you don’t need your money every month and can let it sit in another currency until you guess it’s an optimal time to exchange, I would rather be paid in £. Makes everything simpler in the end if you live in the UK.

If UK pulls no deal will it not harm both the £ & € against the $?

Unless you like speculating just pick the currency you pay most of your bills in.  We have had a few staff in the past pick one currency then get really upset when it falls and want to change but of course they want to pick the new rate at the point their previous currency was at the highest.  If you like speculating I have no idea, there is too much happening at the moment where it is difficult to guess how the market will react 🙁