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

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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
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1answer
40 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
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4answers
603 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 ...
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2answers
63 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). ...
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0answers
22 views

Taxes for a UK citizen interning in the US for 3 months

I am a student and UK citizen. This summer I will be interning in the US for 3 months on a J-1 visa. The internship is paid and my salary will be paid into a US checking account. I understand that ...
2
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1answer
45 views

How does my higher rate tax on savings interest get paid. **UK, pre-2016**

I earn over £42k, the limit for higher rate tax. See here. This means I have to pay higher tax on my savings accounts. See Here. Higher or additional rate taxpayers You must pay extra tax on ...
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2answers
33 views

How to find a suitable investment product for my ISA?

I'm looking for a specific kind of ISA product and simply can't find what I want. Here are my requirements: An ISA (I don't mind what type so long as the rate's 1.5%+) Lump sum initial payment (from ...
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0answers
45 views

How do you Record Revenue from ads?

I have a website with an increasing traffic so I decided to make it as a business and add ads into the website. I'm currently in the process of registering my business and I don't get how would I ...
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3answers
92 views

UK - Borrowing house deposit from parents

We are thinking to buy a house and our parents would like to help us with the deposit (as we don't own that sum). The idea is to give the money back someday. Now the questions: How do my parents ...
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3answers
670 views

Is there a way to buy raw oil today and sell it in 1 year time?

Is there a way to buy raw oil today and sell it in 1 year time? I would like to do so from the United Kingdom. EDIT: I mean buying shares of oil or whatever other form.. I just want to own it ...
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2answers
175 views

Should I pay off a student loan before getting a mortgage, given I have a large deposit?

I live in the UK, and have a ~£15K student loan that I started in 2007. That means that I pay extremely low interest on it (lower value of "RPI" and "Base Rate + 1%") and that I only ever pay it out ...
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1answer
46 views

Will dipping in to savings affect mortgage possibillities?

I currently have 2 accounts; a savings, and a current. Each month I have an amount transferred over to the savings. Since I have saved for a number of years now I have enough for a reasonable deposit ...
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1answer
27 views

Transferring money from Indian NRE account to UK

I am living in the UK and I need to get some money from India to UK to purchase a property. My father will be gifting me the money and he has the money in his NRE account(he is NRI).IS there any tax ...
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2answers
317 views

do I need to close my existing ISA if I plan to open a “Help to buy ISA” in the Autumn?

I currently have a cash ISA. I'm very interested in the new Help to buy ISAs that are supposed to be arriving in the Autumn as I am saving in my existing ISA for a house. The interest rates are much, ...
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0answers
35 views

Is there any possibility of doing an equity release deal on a property you don't (currently) own?

There are various equity release schemes to let you release some of the tied-up value in a property you own, see eg. http://www.equityreleasecouncil.com/faqs/ Is it ever possible to jointly purchase ...
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2answers
94 views

How to withdraw money from currency account without having to lose so much to currency conversion?

I'm trying to withdraw some money from Barclays currency account, but I don't know how without losing so much on the unfair conversion rate. For example, I've found the following rates (as per ...
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0answers
26 views

Received Stock options as UK Employee, however exercised the stock as a Canadian Employee. What is my tax liability?

I work for a global company. As a UK resident, my company awarded me stock options & Restricted stock. The stocks is traded on the NYSE. I exercised the stock in Canada. I transferred to the ...
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1answer
32 views

I'm working in London and I'm earning in GBP how can I transfer the money to India what taxes would be incurred

Kindly inform me how could I transfer the money from UK and I'm working there for 4 years and does it cost the tax and how much.
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1answer
61 views

What's the difference between “Index” and “Accumulation” tracker funds?

Here are two trackers running on the same index: http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000OOAW http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000OOAV ...
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1answer
119 views

Do I need to pay tax if I earned 10 pounds interest from peer-to-peer investment?

If I earned 10 pounds in tax year 2014/15, do I need to pay tax? I just started investing in Funding Circle, I earned few pounds. This just looks silly to pay tax from 10 pounds but maybe that ...
3
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2answers
668 views

United Kingdom: Where to save money for a property deposit

I'm currently 22, and I would like to buy a property at some point in 5-10 years, once I can afford the down payment (deposit). I live and work in London England, so for this example, assume my ...
3
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1answer
125 views

Buy to Let - Daughter-in-Law

My son and daughter-in-law are currently separated. They have 2 kids, and I have a great relationship with my daughter-in-law. I have had a relative die, and she is paying over the odds for rent, so I ...
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1answer
44 views

Buying a UK property but from another country

My sister in law is looking to buy a UK property as a holiday home, she lives in Norway, other than our normal buying costs, is there any other taxes or fees she has to pay as a non UK resident ?
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1answer
66 views

Am I a tenant in common by mortgaging my share?

If I mortgage my share of the property and later pay off the mortgage, am I a joint tenant now or tenant in common?
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2answers
68 views

UK - reclaim VAT on purchases for freelance work

I have a small freelance income in addition to having a day job. It's enough that I need to file a tax return for the extra money that I earn. My freelance work necessitates a reasonable outlay in ...
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1answer
97 views

Personal bank account for non-resident in UK

I have just received a job offer in the UK (for a UK company) and i want to open a personal account with a UK bank to receive my salary and avoid international fees. I've read around the web about UK ...
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1answer
69 views

How should I decide in what order to sell shares from different lots?

I get a number of shares in the company for which I work every year, so I have a number of shares that had various values when I acquired them. When I sell a portion of my shares, I have various ...
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2answers
46 views

How can I diversify investments across currencies in ISA?

Is it possible to diversify investment in ISA by buying foreign currency, funds denominated in other currency than GBP, or other investment product that can hedge GBP value moves?
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0answers
30 views

UK taxation for options and futures trading

I live in UK and I see that there are 2 taxes when trading: CGT to be paid on capital gain and is 18% or 28% depending if you are basic tax payer or not income tax on any interest or dividend ...
0
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1answer
43 views

Investing in EIS and SEIS

Does anyone have experience with EIS or SEIS-qualifying investments? I know the principle , I've seen a lot of videos on YouTube but how does it work for real? for example: - I'm investing money on ...
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2answers
64 views

UK Income tax relief for ISAs: How does the sheltering of earnings work?

I have been led to believe that earnings may be 'sheltered' by placing some amount of them into an ISA. I've not been able to find a great deal out about this, and I don't have a personal accountant. ...
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2answers
118 views

Do I have to pay tax on my last pay check which is the first of the tax year?

I am leaving my job and permanently emigrating from UK to USA. My last pay check will be just after the new tax year in April. Due to some bonuses etc I've accumulated over the years but never cashed ...
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5answers
307 views

Investment Options for 14-year old?

I'm 14, and a relative has recently died, leaving me ~£4000 in their will. My parents have said they would recommend me investing it in Premium Bonds, but I was wondering if there were any investment ...
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0answers
45 views

Can my U.K. limited company buy real estate in an other country? [on hold]

Can I invest in real estate in another country? What are the limits, the rules, the things to know...?
2
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2answers
585 views

Whats tips do you have for someone beginning to invest in property?

For a first time investor interested in investing in property, what are the options? Would they be better off buying their own home and holding it for capital growth, or a buy-to-let property they ...
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0answers
53 views

Investing in trust for someone else

Suppose I have a sum of money that I have invested in a bare trust for an under-18 year old child. I am not the parent of the child but I am a relative. As I understand it, it is my duty to: a) make ...
3
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1answer
62 views

As an investor, should I care about voting rights and pre-emption? (UK)

I am interested in investing some of my money in a few companies in exchange for equity. I am undecided if I should, for example, invest £5,000 in one company and have voting rights and pre-emption or ...
3
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5answers
260 views

How to increase my credit score

I have a bank account in UK since 9 months ago, and just have a debit card, didn't buy anything with credit before. I have a pay monthly mobile sim card, Today I went to buy a new mobile with pay ...
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0answers
37 views

In the UK, what counts as realised profits for dividend purposes?

I am a director/shareholder of a limited company. I would like to know which of the following assets count towards realised profits and are therefore available for distribution through dividends. I ...
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0answers
48 views

How can I fundraise in School?

Here are a few methods, but I need more. Crossbar challenge £1.50 pp Bake sale That's about all
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1answer
153 views

What are the pros/cons of these investment types?

My UK pension company allows me to make one-off online payments, and surprisingly I found out I can invest the money in any way I want. My options are as follows: International All Share ...
2
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1answer
147 views

Can my U.K. limited company lend money to a director or another person?

Can a limited company lend money to the director or another person? What are the limits, the rules, any minimum rate, the things to know...?
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1answer
72 views

Tax on irregular freelance work

February 2015. I currently have a pension of over £21K per annum but recently was asked to do freelance copy editing work for a publisher. Some three months later they have paid in full £3,267. ...
3
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1answer
54 views

What home expenses can I claim back from working full time at home for a business in the UK?

Our company is considering no longer having an office and making all the staff work from home. We all work primarily online running a website, so our work is done purely on a computer. With working ...
2
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0answers
55 views

Can my UK limited company claim tax relief on donations to foreign charities?

I'm English, and run a company that's based in the UK and registered with the UK Companies House. I want to donate some money to charity, but one of the charities I have in mind isn't based in the UK. ...
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1answer
82 views

Joint bank account and taxes in UK

I am working full time in UK and don't have any other jobs or money sources except this full time job. I have a bank account in HSBC UK. My wife is going to register as self employed (freelancer) here ...
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3answers
1k views

Are there contracts for fixed pay vs. fixed pay rates?

Are there any contracts that simply pay you when/if you finish a specific project with no mention of a fixed pay/hour? If so, does this mean you can get paid under minimum wage if you take too long to ...
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1answer
74 views

UK: How to *leave* self select stock and shares ISA (without selling the shares)?

I have decided I no longer wish to pick my own shares (too much effort) but want to keep those I already have in ISAs from previous years. Thus I think I need some kind of holding service for my ...
2
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3answers
379 views

Current Account Monthly Pay In

I've seen from a question here, along with some reading I've been doing on MSE that I can have multiple current accounts at the same time. What I'm trying to do now, is to work out if I can use this ...
2
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2answers
508 views

How can I buy an ETF?

I know an ETF that I would like to buy, but how do I actually invest in it? E.g. what are the steps I need to go through, which organisation to contact? Can I buy through a bank or do I need to ...