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

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2
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1answer
49 views

UK Contractor with Limited Company

I recently set up a limited company and have an accountant taking care of much of the financial side. I wanted an opinion other than my accountants. For the entire income I recieve from clients I am ...
1
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0answers
42 views

Claim tax relief on purchase in UK as full time employee

As a full time employee in an I.T. company can I claim tax relief on purchases related to my job? My employer does not provide a laptop so I was considering buying one myself and was wondering if ...
2
votes
1answer
83 views

Can I back out from the lease before signing the contract

I was looking for an accommodation and found one. I have not signed any contract or deposited money yet. I just agree to take the place via email with the current tenant of the flat and planned to ...
3
votes
3answers
517 views

How do I determine how much rent I could charge for a property or location?

I am interested in investing in property. How do I go about figuring out the rent-ability of any given property? As in how do I figure out how much rent a property could get potentially on average ...
1
vote
1answer
57 views

How can we confirm if a telegraphic transfer has been credited to the beneficiary's account?

A while ago, I made a foreign telegraphic transfer from a bank account in Bank A to another bank account in Bank B. Bank A then sent me an 2 email; one confirming that they have received my FTT, and ...
0
votes
1answer
34 views

What is my Tax position on short term (90 day) on-site contracts in the UK and will I owe taxes in both countries?

I am considering a short term project in the UK maybe a total of 90 days between now and the end of 2014. I live in the US. The recruiting firm that contacted me has a UK branch and a US branch both ...
0
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0answers
32 views

Will my new job use the tax code from my P45?

If I've given a copy of my P45 to my new employer will they use the tax code on it to calculate the tax I should pay for the first month. For instance: 1000L
3
votes
1answer
61 views

What is the difference between an Independent Financial Advisor (IFA) and an Accountant?

I'm looking for some advice on various small personal financial matters relating to pension, salary, taxation etc. I've been given a personal recommendation for an accountant, but looking at their ...
2
votes
1answer
128 views

Can a bank ask for a quicker repay of a part of a mortgage?

In the UK, could a bank ask you to repay quicker a part of a mortgage (or a loan guaranteed with a property) because your risk profiles increases due to the value of property going below the ...
3
votes
1answer
183 views

Downsides to Salary Sacrifice? (UK)

My company are starting a scheme where I reduce my gross salary by the amount I pay into our pensions. They increase their pension contribution by the same amount, saving us both National Insurance ...
0
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0answers
18 views

Guidelines on Skill Transfer UK Visa Investment

Can Tier 2 Skill Transfer UK Visa holders do investment in London stock market? If yes what is the procedure?
5
votes
2answers
534 views

Difference between a mortgage and buy-to-let in UK

In terms of rights, whats the difference between getting a regular mortgage and a buy-to-let mortgage for a property in the UK? For example, if I wanted to invest in a property, and got a regular ...
2
votes
0answers
65 views

How can I invest my personal money in my own Limited company in the UK?

I registered a Limited company in the UK one year ago and I am the sole shareholder and sole director of the company. Now I want to invest £50k in the company so that I can buy products and rest of ...
1
vote
1answer
43 views

Tax on Money transfered to India from UK?

I'm from India came to UK on Feb 4th 2014 and I will be in UK till Sept 30th 2014. I'm earning money in Pounds, and paying tax as per UK tax policy. I could save some money which I transferred to ...
2
votes
5answers
203 views

As a contractor, should I overpay my mortgage or contribute to a pension?

My specific situation is:- Early 30s Software contractor via a ltd company Resident in Scotland Higher-rate taxpayer Mortgage at ~5% (variable 4.5% above BoE), LTV about 75%. I'm allowed to overpay ...
3
votes
1answer
64 views

Foreign bequests and gifts

I am a U.S. resident and citizen. My British mother died earlier this year. In her will, she directly bequeathed me 10,000 pounds, and left the remainder to her sister. Said sister thought that was ...
0
votes
1answer
101 views

Getting money from online websites I own to my UK bank account

I recently moved to UK for a full time job, and I get my salary transferred to UK bank account, and automatically tax calculated. At the same time I own few websites and I get some money from these ...
2
votes
1answer
76 views

How can I register a UK business without providing a business address?

If you are a start-up from home and do not have an office yet, how can you register your business on http://www.companieshouse.gov.uk/ without publicly disclosing your personal home address? I know ...
2
votes
1answer
113 views

Financial gift or nasty surprise

If a friend from the U.K. is wanting to give me a large amount of money, why would they need my signature? They haven't requested any bank account details, but why would I need to sign something to ...
4
votes
1answer
251 views

Can a company run a credit check on me without my permission?

I understand that sometimes when dealing with companies over the phone or over the counter, they need to run a credit check. I would have thought that as a courtesy they would at least tell you this ...
5
votes
1answer
43 views

Small business tax dates, what is “the date” of a job?

I work to a tax year that starts on the 6th of April. I have a number of jobs which before this date are: "in the pipeline" i.e. in my order book work in progress finished not invoiced finished and ...
2
votes
1answer
75 views

Tax on NRE account

I am an UK citizen. I opened a recurring monthly fixed deposit Indian NRE account at 9% interest for 10 years. No tax in India and repatriable. My first question is do I have to pay tax in the UK ...
3
votes
1answer
98 views

US dividends double taxation for foreigners (UK)

I have read that the US government exercises a 15% (or even 30%, where the foreign country is not in the double-taxation treaty with the US) withholding tax on US dividends, if the shareholder is ...
1
vote
1answer
44 views

VAT listing on repair job

This is a question on consumer law and trading standards in the UK. I appreciate it may be a grey area. A few weeks ago I took a sail to be repaired in a local sail loft. I asked for the price and ...
2
votes
1answer
43 views

Why would you use an IFA for choosing a pension fund

I've been trying to sort out a pension fund and been talking to an advisor from st. james place, who whilst admittedly not exactly an IFA does seem to know his stuff. But their fees are relatively ...
3
votes
2answers
47 views

Equifax credit report insurance quotations

I have just ordered a credit report from equifax. The credit report shows up all healthy except for a large number of (genuine) 'insurance quotations'. These are car insurance quotations that I have ...
1
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0answers
55 views

How long will defect remain in credit history?

I have read this question/answer that suggests that it takes 7 years for items to clear from a credit file. Is this the same in the UK? And in the meantime, if I have late payments showing on my ...
3
votes
1answer
88 views

Is there any way to cash in a pension fund?

The last company I worked for (I'm in in the United Kingdom) had one of those schemes where the company puts a certain amount of money every month into a pension fund. I quit my job and now I keep ...
3
votes
3answers
221 views

Can credit card be used as a debit card by making payments into credit card before even using it?

I am planning to use Halifax clarity credit card abroad when I travel to Europe. The credit card offers good rates while using abroad with no transaction charge or non sterling transaction charge ...
3
votes
0answers
39 views

Good trust account in the UK

We need to open a trust account for our children for some money they inherited in trust. We were warned that quite a few of the banks are quite reluctant to do this. So the main questions are: Once ...
3
votes
2answers
68 views

Any sane way to invest in both funds and stocks with UK ISA?

I wish to invest in both stocks and funds within an ISA. However the fund supermarkets all seem to charge an annual fee even on stocks. Yet there are stock trading isa accounts that have no fee. So I ...
5
votes
1answer
31 views

UK ISA - Can Only contribute to 1 provider a year?

HMRC has a rule that you can only pay into one stocks and shares isa in any given year. But what if I transfer this years part funded ISA to another provider. Can I continue to pay into the new ...
6
votes
1answer
61 views

Student Loan versus Cash ISA

I have taken out a UK student loan several years back whilst studying, it was interest free at the time, but now a low interest of 1.5% APR has kicked in. I have scraped together enough to pay this ...
5
votes
1answer
116 views

Refused for Debt Consolidation Loan. Why would I be denied this loan?

I have numerous maxed-out credit cards and a half-used store account and I'd like to pay them all off with a consolidation loan, to reduce the interest I'm paying and clear them all up quickly. I'm ...
3
votes
1answer
99 views

What steps or checks should I do to see if a lending company that cold-called me is legit? Too risky?

A few days ago I got a call from company asking me if I have any outstanding debts and saying they can help me with my debts. Well, I don't have any debts; though I use 3 credit cards, I always pay ...
-2
votes
1answer
66 views

Should I charge VAT on a customer who is VAT registered in a EU country? [closed]

I hope the title explains it all. I supply goods which are taxable in UK. If the EU customer is not taxable, should I zero rate it or is the transaction outside the scope of VAT ?
4
votes
2answers
165 views

Having a flat rented for me on expenses vs having a payrise

I've been offered a flat in London instead of a pay rise. I feel like I'm getting a great deal, but I just want to run this by people in case there's something I'm missing here. Quick background. I ...
6
votes
1answer
204 views

Is PAYE Mandatory for Making Salary Payments

I am the director of a limited company in England and Wales and am the only worker and shareholder. I understand that it is advantageous for me to draw a salary from the company and also take some ...
0
votes
0answers
62 views

What is the best budgeting app you can use in the UK without a PC, in the Apple ecosystem

I'm looking for a budgeting app for someone that very, very rarely touch their PC, but have an iPad and iPhone. I love YNAB ("You need a budget"), I think it'd fit their needs perfectly, but the ...
3
votes
1answer
97 views

Can I have more than one current account

Is it possible to open more than one current account in the UK? and how will this affect my credit score. I only say this as there are current accounts that pay 3% interest on balances - which would ...
2
votes
1answer
41 views

UK Ltd taxation on stocks/bonds income and real estate rent income

If I got it, the main tax an UK Ltd has to pay is the corporate tax, which is about 20% of the total income of the company. This income include income derived from bonds, stocks, mutual funds ...
3
votes
1answer
71 views

Are UK cash ISA's cumulative?

I have opened a Cash ISA recently and I don't seem to understand how they calculate the ISA earnings. So as an example, suppose I have a cash ISA maxed out at £5,940 (I know this is going up in July ...
4
votes
1answer
154 views

Tax Benefits of Loaning to Loss-Making UK Company

I have a limited company in the UK that is, unfortunately, currently making a loss. The company has been loaned cash (about £2000) by myself but isn't making a profit yet and I have taken no salary ...
3
votes
1answer
77 views

Conveyancing Solicitor problems UK

I hope someone can help us, my wife and I are in our 70s and in poor health made worse by our current predicament. We’ve sold our house and are living with our daughter temporarily whilst trying to ...
2
votes
1answer
41 views

Dual Citizen British/US and online business taxes

I am a dual British/US citizen living in the EU. I file taxes in the US with my husband. I want to open an account with an online gallery to sell my artwork and as we intend to retire to UK I will ...
2
votes
1answer
131 views

How can I refute an excessive surcharge for debit card payment?

I recently paid a company to carry out some work on our house. I made a payment over the phone and spoke to a nice lady who took my debit card details. However when I checked my bank account I ...
1
vote
1answer
164 views

How to use credit card (Barclaycard UK) merely to build the credit history? [duplicate]

My aim is to buy house in three years time So I started searching for the ways I can get mortgage for the house. I found out that I need good credit score to get mortgage along with other things such ...
2
votes
1answer
75 views

What is the difference between Child Benefit and Child Tax Credit?

In the UK, how does Child Tax Credit differ from Child Benefit? It appears to me that those who receive Child Tax Credit are fewer than those who receive Child Benefit, as there are more criteria ...
2
votes
2answers
55 views

ISA - intra year profits and switching process

I would like to open an ISA account to invest in funds and I see that the maximum allowance is increasing to 15,000 GBP in few months. My understanding is that all incomes generated in the ISA are ...
6
votes
1answer
189 views

Transferring large sums of money overseas

When transferring the past few years of savings from working overseas (over £25,000) to my account in the UK. This is my savings from income I received over the past several years while working ...