Anna Sofat, the founder of Addidi, a provider of fee based financial planning, investment advice and financial concierge services for many South African expats working in the UK, gives her advice on how South Africans can make their hard earned pounds go further.

With new more stringent visa rules being applied on South Africans living and working in the UK, chances are that you are in the UK to build a career, are highly skilled and in a medium to high income group. Tax efficiency, and managing your hard earned income correctly, will therefore be of vital importance.

SA expats first port of call is to ensure they are utilising all the tax allowances they qualify for. This will include a personal allowance and the tax free amount which you can invest in an individual savings account (Isa). You can invest £10,200 a year (£5100 in a cash Isa and £5100 or the total £10,200 in a stocks and shares Isa) without incurring an tax should this money grow. For competitive cash rates have a look at www.moneyfacts.co.uk and make sure you get advice from an independent financial adviser (IFA) before getting into a stocks and shares Isa.

It is also important never to forget about the tax benefits of investing in your future and in this case, specifically your pension. You can put in a minimum of £20,000 per year into a pension and get full tax relief at your highest rate. If you are a top rate taxpayer, paying 50 per cent tax, you can save 50 per cent tax and any growth within your pension is not subject to capital gains tax (CGT). If you're planning on returning to the motherland, your pension can be transferred to a qualifying scheme in South Africa in due course.

Although many South Africans might not plan to live in the UK forever, one of the most tax efficient saving vehicles is to buy a home. There is no capital gains and you can also rent a room to a fellow expat and pay no income tax on rent of up to £4,250 per year. London has experienced decent growth in values and on leaving the UK you can rent it (it can provide a useful source of income in retirement) or, of course, you can opt to sell the property.

Then you also have the opportunity to invest in offshore bonds. You are allowed to invest in any collective open-ended investment company (Oeic), unit trust or investment trust and growth rolls up gross. You pay income tax if you bring back more than 5 per cent per year (or accumulative) and no UK tax if you encash once you have become a non resident (it takes juts one year of being out of the UK to be declared 'non resident').

You can invest in Sterling, US Dollar and Euro, but it might be worth spreading  your investments between Sterling and Dollar if you are looking to go back to South Africa.

Enterprise Investment Schemes, or EIS for short, is another investment worth looking into. While this is described as high risk investment, you can invest in small growth businesses and obtain tax breaks. But make sure you get advice from a professional.

Other considerations:

Tax planning: Remember, if you have been in UK for less than seven years you only pay tax on UK income and assets, but if  you have been in UK for more than seven years you will pay income tax on worldwide income. So the moment you come up to seven years of UK residency, it would make a lot of sense to gather the advice of a professional financial adviser.

In addition, if you have assets in South Africa you are likely to have to complete South African tax returns too – an accountant or financial adviser who understands both tax regimes will come in handy.

Also make sure you are not wasting your money by falling into bad habits, such as:

* Late payments on credit cards

* .Not making the most of savings and borrowings i.e. making sure you getting and paying a competitive rate of interest

* Not shopping around for the best deal on insurance and utilities

* Not returning unwanted purchases

* Taking out a gym membership and never using it.