For questions that relate to the laws, practices, and products of the United Kingdom.

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3
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1answer
24 views

How does cash ISA & share ISA mix together

I am trying to understand the ISA concept in the UK. I think I understand cash and share ISA separately but I do not know how they mix together. Right now I have on a cash ISA 15K£+15K£ (Y-1+Y0). ...
3
votes
1answer
59 views

What does HMRC (the UK tax agency) view as valid expenses for travel?

I understand that any expenses must be wholly for business purposes, so that means normal eating doesn't count, it has to be outside the usual pattern of business. However there seem to be a lot of ...
2
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0answers
21 views

Tax return if worked partially in the UK and partially in Germany

I have worked from Jan to July 2015 in the UK and from Oct. to Dec. 2015 in Germany. I'm not sure if it makes sense for me to submit a tax return claim. (The tax year in the UK runs from April to ...
1
vote
1answer
50 views

Saving in foreign currencies

I live in the UK and am looking at opening a USD account. The primary reason for this is that I work for an American company whose employee share plan deals in USD, so it is required for that. However,...
0
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0answers
20 views

Investment platforms like Robinhood in the UK [closed]

Which platforms (preferably mobile) would you recommend for investing? I've noticed "Rubicon", an alternative to "Robinhood", however, it has no reviews and noone's heard about it.
1
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1answer
41 views

First year partnership - no trade tax return

A friend and I registered a partnership last year (June 2015) with the intention of running alongside current employment. However due to circumstances and time we have not actually done any business (...
0
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0answers
32 views

Property investment in UK, France and Switzerland pros and cons

What's the difference (pros & cons) of buying 1st property for residency or investment between UK, France and Switzerland in terms of: Taxes Average rates Incomes Others ... Thanks!
1
vote
1answer
44 views

Where do I pay tax - UK or Malta?

I'm a UK company director but am considering a move to Malta where I will become resident and work remotely, with occasional visits back to the UK. My wages (and dividends) will be paid into a UK bank ...
3
votes
2answers
116 views

Will a British bank accept a twice-endorsed cheque?

I am an American citizen, living in the U.S., and I've been sent a small refund from a UK vendor in the form of a cheque drawn on the Bank of Scotland and made out to me. My bank will charge $23 to ...
2
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3answers
149 views

Easiest way to diversify savings

Finance has always been a bit of a black art beyond current and savings accounts, so I'm hoping this makes sense. In light of the possibility of Britain leaving the EU (that isn't the actual reason, ...
6
votes
3answers
329 views

When should I schedule direct debits?

I am going to start a new job soon where I will be go from being paid weekly to monthly. I have several direct debits that come out of my account all through the month. I would like to reschedule ...
4
votes
3answers
173 views

How do gold sovereign coins compare to other gold investments? [UK]

I'm starting with the assumption that gold is sometimes useful for diversifying risk, responding to economic instability, or generally commodity trading. That stated, there are obviously different ...
0
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1answer
45 views

Notice period calculation as an employee in the UK [closed]

As an employee I have a notice period of one week. If I hand in my notice on Wednesday, will my last day at work be the next Wednesday? Or the next Tuesday?
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0answers
48 views

Can you pay yourself with interest from your director's loan in the UK?

With the Chancellor's scrapping of dividend tax credits, the effective marginal rate for being paid in dividends from a limited company has now gone from 20% to 26% for lower rate tax payers, and from ...
0
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1answer
29 views

Do shares purchased on FTSE AIM move with company to other markets?

I've struggled to find an answer for this so apologies if there is one easily found out there. At the moment I'm looking at potential investments in the FTSE AIM market, I've read a lot about how ...
3
votes
3answers
150 views

How to minimise the risk of a reduction in purchase power in case of Brexit for money held in a bank account?

With the Brexit referendum looming, one of the foreseen consequences in case Britain leaves the EU is a diminished purchase power for the British Pound Sterling. What would be the best way to ...
3
votes
1answer
89 views

How is my [UK] bank calculating mortgage porting affordability?

I have had a mortgage with my bank for ten years now, and want to move. I have phoned them a few times to ask about what I can afford, but each time the answer confuses me, and when I ask how they ...
1
vote
1answer
59 views

UK limited company and personal bank account [closed]

I have recently formed a UK limited company using an online company formation service. I currently do NOT live in the UK. I have not yet applied for a business bank account in the UK, but I do have a ...
1
vote
1answer
18 views

How should accumulation type units in unit-trusts/OEICs held outside of an ISA/SIPP be handled for tax?

If I hold income type units (call them "INC") of a fund (or investment trust shares or regular equities for that matter) outside of an ISA/SIPP wrapper, it's obvious enough how to fill in a tax return:...
4
votes
1answer
86 views

How to deal with end of tenancy for the tenant in the UK

I signed (in London - UK) a tenancy agreement in December 2013 for 3 times 1 year (the landlord wanted this instead of a 3 years contract). The term of the contract will arrive in a few months and I'd ...
3
votes
2answers
200 views

24% tax on first pay in the UK?

Quite a similar thread to others I've seen here - hope I'm not repeating the same questions again! I just got my first payslip after arriving in the UK and noticed that the tax is far higher than ...
2
votes
1answer
57 views

What happens in the 2nd period of an ISA? (UK)

I'm sorry if this is a duplicate, I tried to search for similar questions but I'm not sure what the correct terminology is! I've been curious about an ISA for some time now and it seems that they are ...
3
votes
1answer
107 views

Does a donation have to be used only on the thing it was donated for?

I am currently in the process of developing an open-source computer application and it is taking up a lot of my free time, so I would like to get some sort of income from it, even if it is a small ...
3
votes
1answer
96 views

Should a joint credit card be cancelled upon the death of the person named on the card?

This is specifically about credit cards issued within the UK. A little over 2 years ago, my father died, at the time of his death, my parents had joint credit cards (or, credit cards linked to a ...
0
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1answer
57 views

UK tax question for low earner in previous tax year

I lived in Spain for 3 years and moved back to the UK August 2015. I started work Sept 15th 2015 and then finished on Feb 10th 2016. my taxable pay in that period was £9264.08 so I was not deducted ...
4
votes
2answers
143 views

Why UK bank charges are not taken account when looking on interest for taxation?

In UK when filling-in self-assessment, HMRC is asking for amount of interest received during the tax year. But bank charges are not taken into account. See example here: my bank charges me £5 ever ...
6
votes
2answers
502 views

How do UK Gilts interest rates and repayments work?

I'm looking at UK Gilts and trying to understand how the interest rates and repayments really work. As I understand, if I buy £100 of a "5% Treasury Gilt 2020" it means I will get 5% interest each ...
0
votes
1answer
69 views

help-to-buy ISA and additional cash ISA

I am researching the help-to-buy ISA scheme. The average variable rate is set on 2% for most banks, however some banks offer extra but they put a further condition on it that you cannot hold an ...
4
votes
2answers
109 views

Working two jobs (one remotely to NZ). What should I do about taxes?

I currently live in the UK. I work full time (37.5 hours a week) at an agency. I get paid a fixed salary for this. I've been approached by someone in New Zealand to hire me by working remotely, I ...
4
votes
1answer
100 views

Does my (British) bank have to notify me a specific amount of time before reducing interest rates?

I have some savings for Uni in a 3% interest bank account - the best I can get on that amount of money. However, today (12th of May) I received a letter, from the bank, saying that the interest rate ...
1
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1answer
33 views

Repatriate NRE account money into UK GBP account tax laibility

I am resident in UK and have a NRE account where I keep depositing my earnings (for which I have already paid tax in UK) From NRE account, I can repatriate money. I.E. get it converted to pounds ...
0
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0answers
16 views

FTSE350 and TTM EPS & P/E

Four years ago the question of wide variations in reported P/E ratios was raised. It does, of course, still persist, and I much prefer P/Es based on EPS assessed on a rolling 12 months "TTM". The ...
0
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0answers
33 views

In terms of vehicle and tax in the UK what are the differences between an operating lease and a financial Lease

I am a programmer looking at finding the total tax burden or operating a car in the UK. It seems like there are three main methods of getting a car in The UK. Purchase, Financial Lease, or Operating ...
4
votes
2answers
186 views

Bank transfer not allowed for “cash account”

I've recently reloacated to UK and opened a bank account to deposit my paychecks. As I didn't have a credit history, the bank allowed me to open a (what they call) "cash account". Now, given that I ...
1
vote
2answers
74 views

Do I have to file a self assessment tax return even if I won't be taxed? (UK)

I am self-employed but make less than the personal allowance of £11,000. The government website says my income band is taxed at 0%. Do I still have to register as a sole trader and file a tax return? ...
2
votes
3answers
101 views

Credit score in UK for foreigners

I've been living in the UK for 5 years and I've been working in here for 3 years. Although my credit score is in good condition now as I set some regular debit card payments; according to experian, I ...
-2
votes
1answer
268 views

Can I have two winning identical lottery tickets? [closed]

I always buy two identical lottery tickets, I have a feeling that I will hit the jackpot sooner or later. Can having two identical tickets cause me any problems e.g. fraud?
0
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1answer
41 views

Which first time Stocks and Shares ISA for UK, frequent trader UK markets? [closed]

I want to open a stocks and shares ISA. At present I have a sharedealing account with X-O (www.x-o.co.uk) and I’ve been making 1 or 2 deals per month. I’m approaching this as a long game and sticking ...
1
vote
1answer
125 views

Historically how do share prices perform after mass selling after an employee reward scheme?

Tesco in the UK are about to award a 5% turn around bonus in shares to their staff with the option of keeping them or selling them straight away. It's likely most of the employees will sell them ...
8
votes
2answers
331 views

My Boss owes money but I am named on letter from debt collection agency (UK)

My employer has an outstanding debt with a company he aked me to speak with a couple of years ago. Now that company has my name listed as a "contact". He received a letter from a debt collection ...
3
votes
2answers
119 views

Is there a trick with ISAs in the UK

I was looking on ISA faq on moneysavingexpert and I noticed the following: I do not understand the trick, say I put GBP100 on a 3% account and that ISA pays 1%. Can I NOT pay tax on the GBP3 I made ...
4
votes
3answers
116 views

Recovering Small Workplace Pension Pots

Like many professionals, the new 'standard' length of stay at any one company is around 2-3 years. I myself have moved a few times at the start of my career from one company to another, beginning ...
0
votes
2answers
62 views

Tax Free Allowance

I started working on 21 March 2016 in my first job in the UK. How much tax should I have paid? It seems my company combined my salary with my April salary and deducted a lot of tax. Monthly salary ...
1
vote
1answer
68 views

Taxes in the UK

I am an EU citizen that recently moved to the UK. I lived in another EU country for the last few years and started a pension saving account there. This account is still open but I live and work in the ...
0
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0answers
36 views

Do I have to pay remittance tax?

A friend of mine wants to buy a house in my country in Viet Nam and he authorized a bank in UK to transfer this sum of money of more than 200,000 USD into my bank account. However, this bank asked me ...
1
vote
2answers
152 views

How much financial information should a buyer give an estate agent?

A friend of mine would like to buy a flat. It is currently a sellers' market and the agents write: Along with your offer we require your sales position ie. first time buyer or you have a property ...
3
votes
1answer
77 views

First time IT contractor, not UK resident, Umbrella or Limited Company?

Will be starting my first IT developer contract soon lasting 3 months, 260 per day, I don't intend to have another contract until at least 9 months after this first contract. Having read in depth the ...
0
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0answers
17 views

Am I UK non-resident based on significant ties?

I am a UK and Brazilian citizen with a British and a Brazilian passport. I have lived in Brazil since December 2013 and have not returned to the UK since. In this time, I have worked in Brazil for ...
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0answers
23 views

Will holdings in high-OCF pre-RDR non-“clean-priced” fund unit types eventually be converted to clean priced units?

As soon as it was practical, I made sure all my own fund investments were migrated to a platform with "clean priced" fund units available (and even before that I'd been making use of a trail-...
0
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0answers
66 views

Working remotely for a UK based company while living in Japan?

I am currently employed by a UK based company but am going to be working remotely in Japan, then eventually move there while still working for the same company. I have no idea what the tax situation ...