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

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Recently quit job to start a limited company, registering as self employed?

I recently quit my job to start a limited company. I don't expect to make any money or pay myself anything for probably at least 4-6 months, so do I need to register myself as self-employed and the ...
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0answers
44 views

Is bad for a person's 'financial reputation' to have transactions to lottery sites on his/her bank statement?

I want to buy UK National Lottery ticket using my debt card but I don't want my bank to think bad of me, I don't want to ruin my credit report. Am I right thinking this way?
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2answers
44 views

Can I register for VAT to claim back VAT without selling VAT applicable goods? (UK)

I do not sell any goods that are chargeable for VAT. I am not currently registered for VAT. I know that you cannot claim VAT refunds without being registered for VAT, and charging it on applicable ...
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1answer
21 views

UK National Insurance deduction as income tax in NZ

I understand as a New Zealand tax resident I am required to declare my worldwide income and the tax I pay on this income back in NZ each year when I do my tax return. However I am wondering what the ...
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0answers
12 views

Non resident working for a UK company from abroad and receiving on UK account - taxable?

I have been living in UK for 1 year and working for an UK company for the past months. Then my visa expired and I returned to my home in Brazil. However me and that company intend to keep me working ...
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1answer
73 views

Claiming loss of income due to water damage in residence

I have been recently required to vacate my residence due to flooding. The ceilings, floors and fittings need to be removed from the bathroom, kitchen and hallway, rendering the property uninhabitable ...
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3answers
156 views

Do I need to tell an estate agent how much a bank is willing to lend us?

We live in the UK and are hoping to move home. We wanted to put an offer in on a house. We have already spoken to our bank who have given us a letter stating the amount we are able to borrow. (Its the ...
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1answer
44 views

What is the definition of a “first time buyer” with relation to the UK “help to buy isa”?

I'm very interested in the soon to be released "help to buy isa". I'm unclear on the definition of a first time buyer. I have owned a house (with my ex wife) but I am no longer on this mortgage, ...
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3answers
91 views

Does a company in the UK have to pay taxes on betting winnings?

Betting in the UK is taxed on the company level so the bettor doesn't have to pay taxes on his winnings. I have a company in the UK whose only objective is to trade on sports betting. Will I have to ...
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32 views

UK online broker with leverage? [closed]

I can't seem to find uk online brokers who allow to trade stocks with leverage, without using a spread betting or CFD account. Does anyone have any suggestions? Thanks
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0answers
46 views

Where do I have to pay taxes?

I'm a Canadian citizen doing a rotational program with an international company based in UK. I'm paid by the American holdings office, and I was living and working in California between September '14 ...
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0answers
53 views

First time buyers in the UK

Are there currently any grants or interest free loans available to first time buyers in the north of England on a home worth around £145,000? My partner and I are looking to purchase a house in the ...
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28 views

Am in the UK and need to sell my late fathers shares, have no idea.where can i get some advice please

I have shares in Tesco and BP that are my late father's, as his executor I would like some advice as to best time to sell and how to go about it. Can I do this on my own or do I need to pay a broker? ...
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2answers
33 views

Proof of address for bank account for UK spouse of Tier 2 work visa

My colleague has a Tier 2 visa to work at our company here in the UK (probably for the next 5 years). He and his family are from Indonesia. Bills are all in his name, but his wife is not being allowed ...
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0answers
33 views

Filling in W-8BEN for a UK Ltd Company

I've recently started a UK Limited Company and I'm trying to fill out W-8BEN (Link here) so I can receive payments for showing ads provided by Facebook, but the terminology is totally foreign to me. I ...
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1answer
99 views

How long does a retailer have to take payment?

I made an e-commerce purchase in January 2015, for which I used a credit card. The product was delivered promptly; no problem there at all; however the retailer failed to debit my account until around ...
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4answers
247 views

Is it wise to have plenty of current accounts in different banks?

Is it ok for an individual to open many (10+) current accounts with different banks? I have no business. The reason behind that is that I usually get a credit card with every new bank account I ...
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1answer
56 views

Should I have to pay income tax on contribution to home office rent from company?

My girlfriend and I work for the same company based in the UK, and are being moved to New York City, where we will work from home (aside from some time spent visiting clients, say 20% of the time or ...
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1answer
92 views

What UK banks use card readers?

I'm with a UK bank that authenticates by sending a text message to a mobile phone number. I don't like this at all and I would like to switch to a bank that uses a solution with a cardreader, so that ...
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0answers
29 views

UK fee-free foreign transfer to own account

I have a bank account in the UK and in The Netherlands. Transferring money from my UK to my Dutch bank account costs £25 with my current bank and most other banks have similar fees. The Money saving ...
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0answers
37 views

Government bonds ETF

I have two government bond ETFs as part of my portfolio. These are IBTS and IBGS, that have 1-3 year bonds of the US and Europe. What happens if interest rates become higher? Will these lose value ...
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0answers
43 views

Indian Citizen and living in Uk and doing Free lancing

I moved to UK in Aug 2014 as my husband's dependent and now got an offer from a freelancing company. They want me to setup an account in UK so that they can do payments in pounds. I am moving back in ...
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0answers
35 views

Registering as sole trader in UK although most of my work is conducted abroad/online

I would like some advice. I am a British national (not resident at present). I offer a range of language related services (translation, interpreting services, teaching, travel agent for language ...
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1answer
42 views

Ordering From UK to Base Overseas - VAT exempt?

Good afternoon, I'm currently serving the RAF Overseas in Cyprus and am looking at ordering a new laptop from PC Specialist (a UK company). My question is simple, am I eligible to buy this item ...
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43 views

Pros and cons accepting partial ownership of company as opposed to inheriting

My father owns property (buy to rent) and manages this through a small business in the UK. He probably has assets worth in the region of 750,000 GBP but is also still paying down the mortgages on each ...
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1answer
53 views

understand taxes when geting money from a project built long time ago plus my full time job

I have been employed full time in the UK for 1 year, I have no other side jobs and the company I am working for is paying taxes and national insurance for my salary, transferring the net salary to my ...
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1answer
40 views

UK Tax - can I claim expenses against a different tax year?

I have a day job but also a small freelance income from after-hours work. It's big enough that I have had to file a tax return for the last couple of years and pay tax on the profits left after my ...
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1answer
54 views

What year will my Gift Aid donations count as?

I made several Gift-Aided donations to charity on April 4th and received automated email receipts for each. However, April 4th was a Saturday and as I made the payments online, by debit card, they ...
4
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3answers
418 views

First time mortgage - process & rates

I'm looking to buy a first home in the next few months. At this point I thought I would check out the mortgage options as in my mind I'd need to have a mortgage agreed before going to look at houses. ...
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3answers
327 views

Which is the better strategy for buying stocks monthly?

I am planning to invest a little portion of my salary say 1000£ monthly on US & UK stocks and planning to hold on for long term. I am aware that investing in stocks might be risky compared to ...
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6answers
394 views

If I receive donations to keep a server running, do I need to pay any taxes?

Basically I am considering starting a game server that has optional donations for people to gain little perks. All the money donated will go towards the upkeep of the server, and any excess will go ...
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1answer
55 views

Any Drawbacks To Changing ISA

I currently have an isa that I have had for many years, the freedom of its movement has been a blessing. However I recently received notice that not only will the account no longer permit standing ...
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4answers
954 views

Do I need to insure a large check when sending via mail?

My girlfriend has a bank account that is on hold because of a stolen debit card number. She recently signed a contract for 90k but has the first check in my name for 60k. She is stuck in London for a ...
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1answer
85 views

UK Defered Pension. Lump Sum or Weekly benefits?

My mother in law chose not to retire at 60 and has worked another 5 years. At the time she chose to defer her state pension and it's been increasing in value since. Now at 65, she has chosen to retire ...
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0answers
47 views

PERFORM GROUP - De-listing of stock

You had a question regarding UK stock in the Perform Group in October 2014. I am in the unenviable position of owning the same stock but did not receive any communication or information regarding the ...
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0answers
70 views

Do I have to pay UK tax on earnings from Saudi Arabia

I started working in Saudi Arabia on the 31st August 2015, I plan to resign from my job and return to the UK mid July 2015. Will I have to pay UK tax on my earnings from Saudi Arabia? I don't own ...
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1answer
573 views

If I register as self employed working freelance in evenings and weekends do I need to inform my full time employer?

I am employed full time and wish to do some freelance work as well, and as I understand it I will need to register to be self employed and fill in a tax return. Yet, would I have to inform my current ...
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0answers
46 views

Help with tax on foreign income

I am looking for some advice. My wife and I have a joint NRO account in India. Here in the UK, I am a higher rate tax payer (40%). We sold a house in 2012 and although that required tax in India, it ...
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6answers
2k views

How is monthly rent calculated for an odd term?

Is there a formula to calculate monthly rent for an odd number of days? Given that not every tenant checks in at the start of the month and checks out at the end of another month, the term of the ...
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2answers
165 views

Property Trust - who or what is the Owner?

I'm trying to work out an arrangement to use some neglected UK property held in trust by a not-very active corporation. I'm puzzled by the nature of trust ownership. In essence, who owns land held in ...
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2answers
311 views

What is the best, low risk investment I can make now?

I'm a software engineer in London, UK. I just turned 27. The past 5 years, I have put as much as I can into paying off my student loan (that is from another country) and have only just cleared the ...
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2answers
94 views

Choice between 2 false options in UK Tax rebate form

My wife stopped working in November 2014, and consequently we suspect she may have overpaid tax, and be able to reclaim from HMRC. We've found the relevant form to fill in (here, linked from this ...
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1answer
42 views

“Notification from Department for Work and Pensions” in tax rebate claim - UK

My wife stopped working in November 2014, and consequently we suspect she may have overpaid tax, and be able to reclaim from HMRC. We've found the relevant form to fill in (here, linked from this ...
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3answers
2k views

Is the UK 'Cycle to Work' scheme worthwhile?

There is a cycle to work scheme my work is offering which works roughly like so: Change some of your pre-tax salary into vouchers to use to buy a bicycle, and bicycle equipment (helmets, lights etc). ...
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1answer
357 views

Wife wants to buy me out of our house - how to do this?

My wife and I want to separate, and have agreed in principle that she will pay me half the value of the house we share and I’ll move out. As she has just inherited a large amount following her ...
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3answers
426 views

Will I be chased for debt if I move out of the UK?

I am an International Student studying in the UK. I took some loans for about £3000 from a bank while I was studying here. Since the government has abandoned PSW visa for graduates it's likely that I ...
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0answers
72 views

Are HMRC (UK tax inspectors) required to give specific notice of late filing penalties?

I'm in a difficult position with respect to HMRC. My story: just before the deadline for submitting an income tax return for the tax year 2013-2014, this January (2015) I got a letter from HMRC ...
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1answer
822 views

What is the meaning of “advice confirms” in a bank statement?

I got some money transferred from a company in the USA to my UK bank (HSBC) account and I found that it is listed as "advice confirms" in the bank statement record online. What does this mean?
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1answer
530 views

Financial loan/pension jiggery pokery?

Without my asking my bank has offered me a £10,000 loan over 3 year at 3.8% APR fixed. They say that over 3 years the total amount payable will be £10,586.52. This sounds quite good VFM. On the other ...
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1answer
78 views

UK citizen going to freelance overseas - what type of specialist should I talk to for tax/registration advice?

I'm planning to leave the UK for around 12 months and work freelance in a non-EU country. I know there are many things I need to get right in terms of registration and financial declarations, tax ...