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 mid-2014, the average selling price of a residential property in Edinburgh was approximately £227,400.
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 (currently £11,000). If your taxable income exceeds £11,000, you will be taxed at the rate of 20% on the first £43,000, 40% on earnings of £43,001 to £150,000 and 45% on earnings of over £150,000 (effective until 5 April 2017).
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