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

learn more… | top users | synonyms (1)

1
vote
1answer
46 views

Privacy Concerns For Self Employment Taxes

I'm a UK based freelance website developer, registered as self employed and trading under my own name. I have to be honest that things haven't been going all that well recently so I'm turning my ...
0
votes
1answer
24 views

What are the tax implications on selling the Share ISA portfolio?

I am new to Stock and Share ISA investing. I am planning to make use of the New ISA limit of £15000 from this year. I am aware that the profit or loss made out of Share ISA is tax free. Does this ...
2
votes
2answers
40 views

Sole Trader or LTD, buy personal house and work from home

As Sole Trader or Limited you can claim a partial rate of your rent if the house where you live is used for business purpose. As usual everything has to be reasonable and calculated pro rata on time ...
1
vote
0answers
77 views

What type of insurance would protect you against the Amazon 1p bug?

After seeing many hobby and small businesses losing thousands of pounds due to a software bug pricing their products at 1p on Amazon I've been wondering. Is there a type of insurance that a hobby ...
2
votes
1answer
34 views

How do margins on tracker mortgages (variable rate mortages) vary over time?

One kind of mortgage, in the UK at least, is a tracker: the interest rate is equal to the central bank's base rate of interest, plus a constant margin. The margin can apply for the lifetime of the ...
-2
votes
1answer
35 views

Where I am I liable for taxes?

I have a business which offers paid subscription-based access to a piece of software hosted in the cloud (i.e. the user doesn't install the software on their PC but accesses it via their web browser). ...
1
vote
2answers
65 views

What should I know about paying taxes for working from home as a new resident in the UK?

I am soon moving to the UK. (I have been a freelance web designer and developer.) What would I need to be sound in the UK and to be fit to work online as a freelancer? Will it include paying any ...
1
vote
0answers
36 views

how is income from surveys taxed in the UK?

I'm considering doing online surveys from companies such as YouGov, that pay you for each survey you complete, but I would like to know more about how taxes work, so I've got a few questions. 1) Are ...
1
vote
1answer
50 views

How poor an idea is it to transfer out of an ISA before the interest is paid?

I currently have a Barclays issue 1 ISA, with around £8000 in it. I opened it in August 2014, and it pays 1.29% AER/1.28% tax free pa. At the time of opening it, I hadn't researched investments and ...
2
votes
2answers
49 views

Can/should a foreign person working overseas for a US company contribute to a 401k?

Our company (US-based) is considering hiring a foreign citizen (UK) to work for us in the UK. I believe that they CAN contribute to a 401k, but should they? Do they receive the same benefits from the ...
0
votes
0answers
17 views

UK Business Purchase from UAE

If I'm running a VAT registered business in the UK buying video game codes (non-physical products) from a company in the United Arab Emirates and selling them to customers in the UK and abroad, what ...
1
vote
1answer
90 views

In the UK what are citizens legally obliged to do (in order to not be fined)

What government stuff do you need to do in the UK? I have heard the following terms in passing: ['council tax', 'electoral register', 'tax return', 'P60', 'Jury duty'] and I am now aware that I ...
2
votes
1answer
68 views

How is taxation for youtube/twitch etc monetization handled in the UK?

I am pondering putting video up on youtube with monetization (i.e. putting up adverts), or stream on twitch. However, I would like to know what the tax consequences are. I assume the income is ...
0
votes
0answers
92 views

What should I be considering, as a student with an income for one year?

I've spent a little while lurking and reading money.se, and I think I'm getting to the point where I understand roughly what's good money management practice, although I'm probably very wrong. I'm a ...
0
votes
0answers
35 views

Is my salary in UK taxable in India?

I have been moved to UK temporarily from India for 2 years. In whole 2013-2014 financial year, I am in UK and getting my salary in UK itself which is being credited in UK based bank. Will my income ...
0
votes
0answers
32 views

Can one get NI in UK to pay taxes without home address

Is it a requirement to have a home address in the UK in order to get NI? Can't I use virtual office's address for that matter? Would HMRC require something like proof of address which I can't provide ...
0
votes
2answers
74 views

How to calculate the potential difference of putting money into buying my house vs paying it into a pension

I've been wondering for a while if I would be better off stopping my pension payments and paying the money off my mortgage and paying it off more quickly. Then I would rent out the house and start ...
4
votes
1answer
69 views

Is there a lower threshold for new EU VAT changes coming 1 Jan 2015 related to the sale of digital goods?

I've heard that sales of digital goods into the EU will need to have VAT charged at the customers country VAT rate from 1 Jan 2015. The seller will then need to either file a VAT return in each EU ...
0
votes
1answer
49 views

Is there a reciprocal agreement between US and UK for credit on social security taxes?

I am a UK citizen living and working in the US. When I return to the UK can I get a credit for the social security taxes I paid over many years in the US - in other words does reciprocity exist on ...
2
votes
1answer
113 views

Ready to invest but I'm overwhelmed with the number of brokers and services

I have £15,000 - £20,000 to invest for the long term and I've researched what I will regularly invest in to: Pension, Index funds, Bonds, small number of individual stocks (maybe) as well as my cash ...
0
votes
1answer
42 views

What is tax form SA2002, in the UK

I am trying to rent a place in London. After providing so many forms the realtor is now asking for SA2002. I have tried searching for this but cannot find out what it is. The realtor has the attitude ...
2
votes
1answer
92 views

What is a best way to take earned money from abroad to India?

I am a Indian citizen. I am going to work in UK for some years. I am looking a best way to send my earned money to india. the options are, 1) Saving the whole money in UK and get back all in a bulk, ...
6
votes
1answer
705 views

How do you typically pay a deposit for a house?

I am in the final stages of buying a house. My solicitor has given me bank details and requested that I send the full amount owed for the house + solicitors fees - mortgage. This totals around 120,000 ...
0
votes
0answers
25 views

International Student in United Kingdom eligible to Invest

I am a International Student studying in London with a Tier 4 Student VISA. Am I eligible to invest in stocks, bonds or funds through brokers or banks in the United Kingdom? I tried to search Home ...
2
votes
0answers
51 views

(UK) If i inform the Jobcentre that I am paying someone's rent, will it harm their benefits claim?

I am paying the rent for a homeless friend, and my/his rental costs are all over the shop due to poor/misunderstood information. I have given him my mobile number to pass on to the landlord so that ...
1
vote
1answer
42 views

For my self assessment do I need to fill out both the Capital Gains Summary and Tax Return?

I received a documents through the post from the HMRC, a Capital Gains Summary and a Tax Return. The thing is I just want to tell them my gains/losses in shares using the Capital Gains Summary ...
0
votes
1answer
62 views

What taxes does a US citizen doing freelance work (self-employed) in the UK have to pay to the US government?

Currently I'm a US citizen living in the UK on a Maltese (EU) passport. While I have worked full-time for companies here in the UK, I've recently had an offer to do some freelance work for a company ...
5
votes
1answer
597 views

Should I combine all my pension pots?

I live in the UK. I have a private pension with Scottish Widows and a University pension which is superannuated. I no longer pay into the SW pension as a legacy of money difficulties in 2010 which are ...
1
vote
1answer
48 views

UK Citizen, Japanese Resident - where do I pay tax for royalties paid to UK bank?

I am self employed, work and reside in Japan. Most of my income gets paid vis PayPal or directly to my Japanese bank account. The exception is my Amazon royalties that can't be paid into a Japanese ...
2
votes
2answers
80 views

Legality of facilitating currency exchange between private accounts

I have accounts in India and the UK. Similarly, a friend has an account in each country. If I am in need of some money in GBP, I could receive money in my UK account from my friend's UK account. I ...
3
votes
1answer
212 views

What will happen to my shares if company delisted

I have shares in a UK listed company called Perform Group. It's recently been the target of a buy out by a private company, and I've received the following notification: AI PG LLC (AI) has ...
2
votes
1answer
98 views

England: Alternative to Student Finance

I am currently considering a change of course at my current University, but as I have already just started my second year of study, I won't be entitled to one years tuition fee loan from Student ...
0
votes
0answers
52 views

Bringing money to UK for investment purposes

What are the tax implications on bringing money from abroad to UK for investment purposes on starting a private Ltd company (Rental business) and also for giving it is a loan to a actively running ...
3
votes
2answers
128 views

Renting Out A Spare Room UK

I'm in the process of buying a two bed property and have a few friends interested in renting out the spare room. Looking into it, it seems this would be taxable income though there is the rent a room ...
0
votes
0answers
32 views

What should I take into consideration when deciding whether to transfer a pension fund?

I have a pension with a previous company, and a pension with the company I am working for now. The two pensions are very similar as far as I can tell. How should I decide whether to leave the old ...
1
vote
2answers
298 views

How much should a 24 year old contribute to a pension?

Im 24 and going to set up a pension. I don't know how much to contribute. Can anyone give any advice on how much they think I should contribute? My employer doesn't offer any pension benefits and I'm ...
1
vote
1answer
53 views

What money is ISA interest actually calculated on?

Say at the end of year 1 I have a cash ISA with annual interest maxed out at £15,000 (I'm not certain of the exact maximum) For that year, suppose I am paid tax free interest at 2% so my balance is ...
1
vote
0answers
38 views

As a french tax resident, do I have to pay french capital gains tax on a UK property

I have had a UK property for 11 years (currently let out) I live in France and have been tax resident here for 6 years. If I sold the property today, would any Tax be due anywhere?
2
votes
1answer
127 views

Uk citizen working freelance for companies worldwide. Who do I pay tax to?

I'm a designer from the uk who works from home in the uk for companies here & overseas, namely the US. I've worked for a few years to these companies never with any problems, but have now been ...
0
votes
0answers
21 views

What Debtors in Current assets refers to in Abbreviated Balance Sheet?

What Debtors in Current assets refers to in Abbreviated Balance Sheet for Limited company? It's the same as Trade Debtors? Does it mean that somebody else owes the money to a company? If so, any way ...
-2
votes
1answer
57 views

VAT & Tax implications of selling software

I'm having a major problem trying to find out how tax and VAT works when it comes to selling software. I believe new legislation has come in regarding how it all works. I am based in the UK and want ...
2
votes
1answer
377 views

Will it be taxable if I transfer money from UK account to India account?

I am a resident of India and currently in UK for 1 year on a work permit where I am getting salary in Pounds. My Indian salary has stopped till the time I am back in India. Now, I have a Home Loan ...
2
votes
2answers
59 views

How To Record Income As An Affiliate ( UK )

I'm registered as self employed and I now want to start a blog where I can use adverts and amazon to make a little extra cash. Now I know that I have to record anything I earn as an income but I have ...
2
votes
6answers
249 views

UK: Personal finance book for a twenty-something

I am interested in learning more about personal finance. I'm in my early 20's, and I recognise that now is a crucial time to form a solid financial footprint for myself. I live in the UK, but worry ...
1
vote
3answers
80 views

Does immigrating half-way the tax year give tax benefits?

If you would immigrate in October when the tax year starts in April in the UK, would that mean you would pay less taxes? E.g. a yearly gross salary of £60k would be only £30k income in that tax year, ...
1
vote
1answer
157 views

What is the rationale for a separate “National Insurance” tax in the UK?

In the UK there's a type of income tax called "National Insurance", similar to regular income tax. http://www.hmrc.gov.uk/ni/ What is the rationale for having this separate income tax? How does it ...
0
votes
1answer
42 views

Is the BA Avios Visa airlines rewards card worth it?

I fly between the US and UK about twice a year - though so far I've only racked up about 16,500 Avios points with British Airways. I'm due to fly back again for Christmas and New Year. If I were to ...
3
votes
1answer
86 views

Company owners gift to employee UK

The Boss of the company I work for has just sold his company. He has now retired, but he has decided to award monetry gifts to all employees. A formula has been developed to determine a fair ...
1
vote
2answers
55 views

Can I make a joint account in UK?

I am an international uni student living with a British student in UK. Due to complications in dividing money when it comes to buying groceries, we decided it would be best that we open a joint bank ...
0
votes
1answer
209 views

inheritance transfers from the world bank in uk

My girl friend says she has paid the tax on 3.6 million us dollars and is now waiting for a code of transfer from the world bank to be able to transfer funds to any account in the world. It requires ...