Some of the main costs that you will incur living in the UK are summarised below.
The cost of residential property in the UK varies massively depending on location. In 2016, the average selling price of a residential property in Edinburgh was approximately £233,980.
(Note: Average house price refers to April 2016 sales. London average price was £470,025, and Scotland = £138,445,
Source: UK House price Index)
The average monthly rent on a residential property was £860 (equivalent to £9,372 per year).
You are required to pay income tax on your taxable income. Your taxable income includes earnings from employment, dividends from shareholdings and a number of other types of income.
Most people in the UK receive a personal allowance on which they are not required to pay tax. For 2017 to 2018, this is currently £11,500. The basic rate limit has been increased to £33,500, whilst the higher rate threshold has increased to £45,000. (effective until 5 April 2018)
The cost of living for daily consumables in Edinburgh compares favourably to other key European cities. See numbeo.com for the latest worldwide comparators including cost of living, housing indicators, health care, traffic, crime and pollution.
Source for graph: Post Office City Costs Barometer 2015