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

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0answers
27 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 ...
2
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0answers
26 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 ...
3
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1answer
30 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 ...
0
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0answers
39 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 ...
1
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1answer
51 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 ...
4
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1answer
38 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 ...
2
votes
1answer
50 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
votes
3answers
395 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. ...
2
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3answers
301 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 ...
7
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6answers
362 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 ...
3
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1answer
53 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 ...
3
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4answers
921 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 ...
3
votes
1answer
81 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 ...
0
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0answers
46 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 ...
1
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0answers
42 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 ...
2
votes
1answer
559 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 ...
1
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0answers
40 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 ...
11
votes
6answers
1k 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 ...
1
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2answers
161 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 ...
4
votes
2answers
293 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 ...
4
votes
2answers
88 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 ...
1
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1answer
37 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 ...
12
votes
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). ...
7
votes
1answer
331 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 ...
4
votes
1answer
310 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 ...
0
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0answers
64 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 ...
1
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1answer
464 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?
5
votes
1answer
524 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 ...
2
votes
0answers
66 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 ...
1
vote
4answers
68 views

I am not VAT registered. Do I need to buy from my supplier with excl VAT prices or incl VAT?

I have a small e-shop and my UK registered company is not VAT registered. I am buying sprays from supplier (UK company also) but he has given me quotes without VAT, but I think I need to pay him ...
9
votes
2answers
809 views

How to represent mortgage overpayments in household budget

I keep a household budget spreadsheet, one tab of which represents our savings. Some of our savings is in traditional savings vehicles (ISAs etc.), but some of it has been used to overpay the ...
2
votes
1answer
41 views

Capital gains tax applicability if buying a House abroad

I want to sell my House in India and bring that money to UK (living here for 2 years) to buy a house in UK. It will help me securing a loan by increasing the down payment I can make. My question is, ...
0
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1answer
58 views

Withdrawing money abroad

I am visiting europe but i am using my local bank in my home country. My home country bank cut international withdrawal fee every time i withdraw, thts fine but what i wanted to know, when is it good ...
2
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0answers
38 views

What is the economically rational way to fund leasehold property management?

I am trying to find a company to manage the block of flats (apartment building) I live in. What is the economically rational way to pay for property management services, According to traditional ...
6
votes
1answer
70 views

Can you change auto-enrollment pension provider? And what happens if you change jobs?

I'm trying to figure out if someone who has been auto-enrolled in a company pension scheme can change their pension provider. I opted out of the pension provided by my company because I couldn't ...
1
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0answers
90 views

Selling a home in the UK to buy a home in the US

I US citizen currently live in the UK, but will be moving back to the US in the near future. I own a home in the UK, with a sizeable mortgage and a LTV ratio of about 70%. I would like to sell my home ...
4
votes
1answer
114 views

As a minor in the UK do I need to pay taxes on self-employment income, and if so how?

I run a game community which is based around Minecraft at the moment with just under 40,000 registered users and I want to expand to YouTube which is in the works and other games. We relaunched ...
3
votes
3answers
689 views

Does it count as a benefit in kind if I'm purchasing benefits with my salary?

I'm working in the UK and my job pays me a basic salary, plus a "value account" worth 25% of my basic salary. The value account can be used to purchase benefits, including medical insurance, life ...
3
votes
1answer
56 views

Is it possible to split taxation of funds earned from a crowdfunding campaign over multiple years?

I'm intending to run a crowdfunding campaign at the beginning of next year, for a project that will take a number of years to complete. I want to try to understand a little more about how any income ...
1
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2answers
51 views

Do I need to earn a specific amount before I can reclaim VAT as a company in the UK?

I just wondered - if I have a business in the UK is there any restrictions on claiming VAT back on items bought for the business - do I need to earn over a certain threshold as I don't earn that much ...
0
votes
0answers
57 views

Can the legal owner of a vehicle cancel a change of keeper request?

I am the legal owner of a car. I don't posses a Full UK Licence (I have a Provisional) so whilst I was waiting for my test I transferred the car to a friend (V5) which made him the registered keeper. ...
1
vote
1answer
92 views

Unable to get a mortgage with partner, can we still share the house? (UK)

My long term girlfriend are trying to buy a house together. She is an EU national but has not lived in the UK in the past 3 years. We each have half the money we need and my income is good enough to ...
4
votes
5answers
589 views

Retirement - Annuity or not?

I have a pension worth around £150k and am due to retire soon. With the new pension rules in the UK, what would be some good options to maximise my income post-retirement? Annuity - I will be ...
-3
votes
2answers
118 views

Is UK house price spiral connected to debt based monetary system? [closed]

Is the monetary system's debt basis* driving government policy on housing and property, and how could this ultimately affect personal housing affordability? The UK has an ongoing 'situation' with ...
3
votes
1answer
63 views

Payslips for assistant in the UK

I operate as a sole trader. I have an assistant that I pay on a regular basis. Do I need to provide them with payslips? If so, what information is legally required to be shown on the payslip other ...
1
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1answer
79 views

I'm contracting from London for a company based in Paris, and they require Proof of Residence for my Ltd Company. Where can I get this?

I've already gone through the process to obtain a "Proof of Residence" letter on the HMRC website. Once the application was completed, the email I received stated about applications in general that ...
2
votes
0answers
36 views

Receiving $10,000 grant from U.S company as a UK citizen using W-8BEN form, how much is taxed before and after using a tax treaty?

I'm going to be travelling to America to take part in a fellowship/scholarship/training program ran by an American company. I am a UK citizen. I am receiving a $10,000 grant from the U.S company and ...
2
votes
1answer
72 views

Should I/Can I consolidate multiple company pensions?

I've been paying into pensions since I got my first job after leaving university. I've changed jobs 4 times over 10 years and I now have a scattering of company pensions from various providers. So ...
7
votes
4answers
702 views

Pensions, annuities, and “retirement”

I already knew about pensions, but I’ve just heard of annuities today. The DifferenceBetween.net article “Difference Between Annuity and Pension” says, A difference that can be seen between ...
2
votes
2answers
149 views

Are there any tax advantages to having a company car over a car allowance?

I've just got a new job. Part of the deal is a car allowence or a company car. I'm planning on taking the money (I've recently bought a new car so I'm not really that interested in a company car). ...