-1
votes
0answers
9 views

UK Expat with BVI company, can my company bank in the UK

I am about to leave the UK and travel constantly. I am a UK citizen but will become non resident when I leave. My business is run online and I need a business bank account within the EU to receive ...
2
votes
2answers
54 views

Do I have to pay tax both in NYC and England?

I work in London for an English company. I will move to NYC and keep working for the same English company for a few months doing researches to open a new business, and my boss would like to keep ...
5
votes
1answer
41 views

Tax implications of gift from UK to US

My grandfather is advancing in years and has moved in to an senior citizen's home. He has decided to sell his former home and distribute the proceeds between his descendants. He is a resident and ...
0
votes
0answers
18 views

As a UK entity, how to contract with a U.S.-based contractor? Implications for tax/VAT?

Being an organisation incorporated in the UK, if we wish to engage the services of a contractor living and working in the USA, what are the implications for e.g. tax and VAT? Do we need to pay the ...
1
vote
1answer
44 views

declaring payments to a credit card for a shared expense

Long story short: I was travelling abroad with work and we ended up with a large bar tab (over £1500 - don't ask). The company credit card was declined so I paid for it on my personal card. My ...
3
votes
1answer
20 views

What exactly are the SEIS tax benefits and how can I use them?

I'm hoping that someone that understands the UK tax system better than I do can help explain in what way I can benefit from SEIS approved investments. I'm especially interested in understanding if ...
3
votes
1answer
363 views

How to Store Funds Generated through Gambling

I am developing an sophisticated automated betting application. Initial tests show that it is likely to operate well and at a profit. I am in full-time employment and pay full tax on my earnings. This ...
1
vote
1answer
79 views

UK self-employed freelancing in Japan. Who do I pay tax to on my earnings?

I am registered with HMRC in the UK as self-employed. In July I will be going to Japan on a working holiday visa. Whilst in Japan I intend to freelance remotely for companies in the UK and Japan. My ...
3
votes
1answer
56 views

How to pay N.I contributions when both employed and self-employed?

I make less than £6k a year from my self-employed work, and N.I is taken off my employment PAYE. Should I be paying N.I contributions for my self-employed work as well?
1
vote
1answer
54 views

Tax Self Assessment for (UK) Employees

I have a job with a company but rather than paying me through the PAYE system they want me to provide them invoices for my hours and then I am paid directly. I have a couple of questions about this. ...
1
vote
2answers
140 views

Buy To Let Mortgage For Relative - Tax Implications - UK

My sister is just coming out the other end of a messy and protracted divorce. She has 3 children and despite many legal actions there's pretty much no hope of getting any support from the ex-husband. ...
1
vote
1answer
74 views

UK self assessment : Declare kiddicare vouchers?

I'm trying to fill in my self assessment form for UK Tax. Now my P60 declares the figures of.. "Pay in this period" of "50k" "Tax in this period" of "12k" (Note figures have been changed) ...
1
vote
1answer
133 views

It it legal to enforce collection of an (incorrectly) estimated tax bill

I have a friend who used to be self employed, but is now in full time employment. this was about 4 years ago, and he never bothered to de-register for VAT. Now HMRC (via a collections agency) are ...
3
votes
1answer
46 views

Late payment of corporation tax UK

I am hoping to hear from anyone who has experience being a single person Ltd company in the UK who has ever paid their corporation tax late by prior arrangement with HMRC i.e. letting them know I may ...
3
votes
1answer
99 views

Which tax year does a bonus fall under?

If I have a bonus that relates to the 12/13 Tax year but was paid after 6th April 13, which tax year should I pay tax in?
0
votes
1answer
282 views

Tax Code of D0 and 944L

I was employed with company A from May 2011 till December 2012. I started a new job in January 2013 and the last pay that I got from Company A was on January 15 2013. The payslip stated that my Tax ...
3
votes
1answer
376 views

When does Irish Stamp Duty apply for UK investors buying Ireland domiciled shares?

Let us assume I am a UK resident with a UK-based trading account, considering to buy Ireland domiciled ETF shares, such as VWRL. I am confused whether I will have to pay Irish Stamp Duty of 1% or ...
2
votes
1answer
86 views

If I get cash compensation for my stocks (following a merger for example) does that qualify for capital gains tax?

This is the scenario. Say I buy some shares of a company X at a certain value. Some time after this, when I am still holding the stock, the company gets acquired by some company Y and as part of ...
0
votes
0answers
91 views

Are there tax implication on buying US stock while on a job transfer?

I work for a startup company in San Francisco and will be transferring to our London Office in April. Right now, I have vested a little over half of my allotted shares with the company, but have yet ...
4
votes
1answer
178 views

Paying UK tax when working remote for a US company

I'm currently employed by a US company and I'm working remotely from the UK (I'm a UK resident). In my previous employment tax was deducted automatically from wage however tax isn't being deducted ...
4
votes
1answer
304 views

How do I compare contract hourly rates with permanent/employed yearly rates, (in UK)

I am thinking of contracting, but do not know how to compare contract (inside and outside IR35) with permanent rates, within the United Kingdom (specifically England). So far I have considered: That ...
2
votes
2answers
818 views

What is the dividend tax rate for UK stock

I had purchased some UK stocks from London Stock Exchange. May I know, what is the dividend tax rate by UK government for UK stocks, on foreign investor (I am from Malaysia)?
-3
votes
1answer
141 views

Is it possible to pay contracts using gold in the UK using legal tender gold coins?

I have looked around for this for ages and for obvious reasons, would be a very efficient means of paying bills without HMRC taking a cut (as long as I can't be attacked for Tax evasion). I have seen ...
2
votes
1answer
179 views

As a contractor - my right to substitution with IR35

Looking at IR 35 compliance : http://www.contracteye.co.uk/ir35_compliance_overview.shtml Substitution An important IR35 factor, you should ensure that your contract allows you to provide ...
2
votes
1answer
74 views

Cashing in a Self Selected Stocks & Shares ISA

If I wanted to cash in my ISA today, what taxes would I have to pay and what percentages would they be? I think that if the value of the ISA is about £10,600, only then would I have to pay capital ...
4
votes
1answer
120 views

Working out if I should be registered as self-employed in the UK

I have spent the past few evenings trying to work out what is the correct thing to do with regards to taxation in the UK for my set of circumstances. 9-5 I work for a company and am on PAYE. 5-9 I ...
3
votes
3answers
493 views

Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)?

Should I retain bank statements hardcopies for tax or other official purposes? Or are scanned digital copies valid in such circumstances? I am a salaried employee with no other income and fairly ...
3
votes
2answers
244 views

What tax can I expect on US stocks in a UK ISA?

What are the tax implications of holding US stocks in a UK self-select trading ISA? Ordinarily I'd expect the UK-US tax treaty to cover any taxation issues, so that I'd pay the UK rates of tax. But ...
3
votes
1answer
686 views

Why does the fiscal year in many countries start in April?

I was just wondering why in the UK the fiscal year starts in April. Is there any historical reason for this?
0
votes
2answers
284 views

Do I have to pay a bank to release funds to my account or should they deduct what they need from the amount?

My girlfriend wants to transfer her inheritance of 1,000,000.00 from her bank in the United Kingdom to my account in the United States. Her bank says I need to send $9,600.00 to them; they said that ...
2
votes
2answers
87 views

How to handle recurring commissions from small business activity from a tax POV?

I'm operating a web-based service in the UK where I receive a commission every time a customer makes a sale through my service. What is the best way to structure a business or record income ...
3
votes
2answers
70 views

How to deal with VAT when traveling from US to Europe?

I am going to be traveling to Europe (Paris, London, and Rome) for the first time. I have only heard of VAT and I am not sure I truly understand it. What do I need to know about it and how do I keep ...
8
votes
1answer
451 views

Android Developer taxes in the UK

I'm living in the UK and doing some after hours experiments with Android OS. Some of my apps started getting money. I still haven't entered my bank details in Merchant account, so every time after ...
1
vote
1answer
131 views

US or UK based ETF Index funds for UK investor?

I would like to invest in ETF Index funds. Vanguard funds have cheapest MER, around 0.2% and it was my initial choice, but then I've learned about some tax complications which I still don't ...
3
votes
1answer
303 views

Can you use vouchers as tax free bonuses for employees in the UK?

Preface: My brother has now worked for several large banks that have given him vouchers for bonuses (or I believe they called them prizes) for reaching targets. Yet I can find nothing about this ...
3
votes
1answer
464 views

What is Remittance vs. Arising basis in Tax?

What is remittance and arising basis with regard to tax? From here: http://taxaid.org.uk/situations/migrant-workernew-to-the-uk/income-from-abroad-arising-basis-vs-remittance-basis Arising basis ...
5
votes
0answers
270 views

Net income graphed as a function of pre-tax gross income?

Background: both as a self-employed, and with a single-person company, the relationship between amount of money made, and post-tax net income seems non-trivial. Self-employed professionals have ...
6
votes
1answer
77 views

Tax due on foreign exchange element of share option program?

This is quite complicated and to be honest I'm not really expecting anyone to know the answer, but I thought it would be worth asking. Five years ago my (UK) employer's (French) parent company ...
7
votes
2answers
223 views

Is it possible to work out my P60 from my pay?

I paid myself from my own company last year but did not issue myself a P60 with we closed the company back in December 2010. It's now time to do my tax return and I am unsure what the exact figures of ...
2
votes
3answers
253 views

I am a contractor with revenue below UK's VAT threshold. Should I register for VAT?

I am an IT contractor based in London. I understand that there is a threshold for VAT of £73,000. In my current business, I have not exceeded that threshold as of yet but expect to within the ...
2
votes
1answer
431 views

Can depreciation be offset against rent of a UK income property?

In the U.S., an income property investor is allowed to depreciate a residential income property over a period of 29.5 years. Does a similar concept exist in the UK? Can a UK citizen deduct the ...
5
votes
1answer
95 views

what is the best way to do a freelancing job over the summer for a student

I am a full time student, studying in the UK with UK address. I would like to do a one time job for a company based in the USA. It will last about one month, and is mostly about creating a video ...
4
votes
1answer
97 views

What is the most effective tax coat for a yearly pre-tax income of £50K?

Having closed a couple of good deals in the past month, I project my pre-tax income for this tax year to be around £50K, which is significantly higher than my last year's one – and also above ...
3
votes
1answer
109 views

What are the tax implications of liquidizing an ISA holding? (UK)

In other words, what, if anything, stops honest taxpayers from filling up all of their stock&shares, and money ISAs, removing it from being a tax liability, then liquidizing it immediately?
5
votes
1answer
149 views

Financial product for tax holding? (UK)

In the process of financial planning, I'm planning to build a reserve for tax-holding purposes -basically dumping 25% of every incoming penny into this bucket. Historical evidence suggest, that ...
7
votes
2answers
118 views

Taxation from variations in currency

Assuming: I am a UK tax payer I live in the UK Assume I sell a good online, for $100. One payment method I accept is Bitcoins. Bitcoins at the moment are extremely volatile, it wouldn't surprise ...
6
votes
2answers
1k views

If a US citizen works in Europe as a consultant, what are the tax consequences?

I am US citizen and professional software consultant. If I get a contract position, lets say in the UK or Switzerland for a European company, do I pay taxes to that country, or to IRS? Does it matter ...
3
votes
3answers
240 views

Tax on £1,000,000 before or after expenses

If you start a business and end up making £1,000,000 in 1 tax year, are you supposed to pay tax on the whole £1,000,000, or do you pay tax on the money you have left over after spending on your living ...
11
votes
2answers
562 views

Double taxation on Americans working abroad?

I am an American. I am currently living in the UK. The UK will tax me on my income here. The US will also tax me on my income if I make more than a certain amount. Can anyone tell me what that ...
1
vote
1answer
122 views

Working abroad and UK tax

I am British, if I go and work abroad on a 1 year contract in a tax free country. If in that year I make £50,000, will I have to pay tax on that money to the UK?