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

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7
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1answer
190 views

How does one's personal credit history affect one's own company's credit rating?

Quick background: I have no intention whatsoever on actually getting any loan. However, to accept online credit card payments (eg. via Paypal Payments Pro), merchant account providers determine ...
4
votes
1answer
48 views

What is an Open Offer in the context of stocks and shares?

One of the companies I own shares in has just announced an Open Offer, giving me the opportunity to buy additional shares. What exactly is an Open Offer, how does it relate to a Rights Issue and how ...
2
votes
1answer
71 views

How can I sell INTEL covered calls?

As shown in this picture, how do I execute the strategy highlighted in yellow? I am based in the UK. Source: http://seekingalpha.com/article/274231-intel-dividend-champion-in-the-making (10/6/11)
5
votes
2answers
93 views

Is it possible for a new company to issue dividends in it's first operating year / month? (UK)

One of the more popular tax structures I keep hearing about, is using a company for revenues, which then pays dividends for it's sole owner. According to HMRC, in this case, the following tax ...
5
votes
1answer
95 views

what is the best way to do a freelancing job over the summer for a student

I am a full time student, studying in the UK with UK address. I would like to do a one time job for a company based in the USA. It will last about one month, and is mostly about creating a video ...
4
votes
2answers
1k views

1000 pound to invest

Apologies if this question is of incredible "noobish" nature, but this is something that's been bugging me of recent. So, suppose I have a thousand laying in front of me, what are my targets for ...
4
votes
1answer
98 views

What is the most effective tax coat for a yearly pre-tax income of £50K?

Having closed a couple of good deals in the past month, I project my pre-tax income for this tax year to be around £50K, which is significantly higher than my last year's one – and also above ...
5
votes
1answer
189 views

UK - Closed Company, Bank has frozen the remaining funds

I recently closed my small business and left a few hundred £s in the business account with Barclays. After receiving notification that the company has been officially struck off, I contacted Barclays ...
3
votes
1answer
109 views

What are the tax implications of liquidizing an ISA holding? (UK)

In other words, what, if anything, stops honest taxpayers from filling up all of their stock&shares, and money ISAs, removing it from being a tax liability, then liquidizing it immediately?
3
votes
2answers
18k views

Are BIC and SWIFT code the same things?

I'm helping a friend with submitting an expenses claim to a US organisation we're both involved with. As the money is coming from a US bank, we can't just give them an IBAN and a BIC and be done with ...
3
votes
1answer
71 views

Moving money to the UK and investing

Because of the financial status of a certain European country (euro member) - I'm afraid of loosing money in case of a default, so I'm looking into options of moving family money to the UK, where I ...
5
votes
1answer
149 views

Financial product for tax holding? (UK)

In the process of financial planning, I'm planning to build a reserve for tax-holding purposes -basically dumping 25% of every incoming penny into this bucket. Historical evidence suggest, that ...
5
votes
1answer
217 views

Do financial advisors get better deals on mortgages?

I have always looked after my own financial affairs. I feel I know more than enough about the financial products I use and buy to ensure I get the best deals. At the moment I am going through a ...
7
votes
2answers
119 views

Taxation from variations in currency

Assuming: I am a UK tax payer I live in the UK Assume I sell a good online, for $100. One payment method I accept is Bitcoins. Bitcoins at the moment are extremely volatile, it wouldn't surprise ...
8
votes
1answer
479 views

Calculate Income Tax amount of UK Salary

I've recently been trying to calculate different take home amounts from different salaries, and have ended up getting confused over how the different tax brackets work. If I try to calculate the ...
6
votes
2answers
1k views

If a US citizen works in Europe as a consultant, what are the tax consequences?

I am US citizen and professional software consultant. If I get a contract position, lets say in the UK or Switzerland for a European company, do I pay taxes to that country, or to IRS? Does it matter ...
5
votes
1answer
169 views

What pension options are there for a 22 year old graduate in the UK?

Following graduation last July, I've managed to save quite a significant amount of 'emergency wonga', for those rainy days or, more likely, the catastrophic end to my job. Anyway, now that I have a ...
3
votes
3answers
243 views

Tax on £1,000,000 before or after expenses

If you start a business and end up making £1,000,000 in 1 tax year, are you supposed to pay tax on the whole £1,000,000, or do you pay tax on the money you have left over after spending on your living ...
11
votes
2answers
567 views

Double taxation on Americans working abroad?

I am an American. I am currently living in the UK. The UK will tax me on my income here. The US will also tax me on my income if I make more than a certain amount. Can anyone tell me what that ...
1
vote
1answer
123 views

Working abroad and UK tax

I am British, if I go and work abroad on a 1 year contract in a tax free country. If in that year I make £50,000, will I have to pay tax on that money to the UK?
2
votes
2answers
155 views

Saving money after paying income tax

UPDATE 1: I ask this question because I don't understand why there is a large market for tax free savings account, when your savings should already be tax free... ORIGINAL QUESTION: I am in the UK, ...
4
votes
3answers
389 views

Which UK banks have an account that features free online incoming/outgoing international wire transfers and no monthly charges?

This is a similar question to US bank w/ free online incoming/outgoing international wire transfers, no monthly charges, online application in relation to the UK. Which UK banks have an account with ...
2
votes
2answers
190 views

Does anyone know what the UK tax code MI means?

Does anyone know what the UK tax code MI means. direct.gov.uk doesn't help. Thanks.
5
votes
1answer
595 views

Starting an investment portfolio

I am looking to start an investment portfolio with around £1000 of my savings going into the stock market and was wondering how I would go about doing this. I would like to spread this money across a ...
6
votes
2answers
288 views

Do I need to start a company?

If I have access to a big hall/room in a building I own and I wanted to convert it into a personal gym. Then one day I say to a friend, you can use my gym if you give me $100 a year, and I will give ...
7
votes
2answers
119 views

Locating all the deceased's assets in the UK

Is there anyway, in the UK, for an executor of a will to locate all the deceased person's assets? Or, to put it another way, how can one be sure that all the deceased person's assets have been ...
4
votes
3answers
2k views

UK ISA status after moving to USA: Would the IRS charge tax on my ISA?

If I were to move from the UK to the USA and leave my tax-free savings accounts (ISA's) open in the UK, with the intention to returning to the UK after 2 years, what would the status of said ISA's be ...
3
votes
4answers
173 views

Do tradespeople get paid as well in other Western countries as they do in Australia?

In Australia, the most highly paid professions right now are electricians and plumbers and tradespeople. I think this is caused by the mining boom, a housing shortage leading to a laboring skills ...
2
votes
6answers
213 views

Are PINs always needed for paying with card?

I'm a little concerned because I just payed to get access to Spotify Premium and it only asked for my card number and 2 other details that were on the card. Nothing like a PIN. Also I noticed that at ...
6
votes
4answers
4k views

Is there a UK equivalent of mint.com?

I am looking for a quick online money management tool and I've read great things about Mint.com in the US. Just wondering if anybody knows of an equivalent tool in the UK? Or if mint.com will be ...
9
votes
5answers
397 views

Should I start my own company so I can claim against tax?

I live in the UK and I'm an employed web and mobile phone developer and very occasionally do some work on the side. I've been recently advised by a family member that I should look at starting my own ...
3
votes
3answers
670 views

Dealing with credit cards and bank accounts when moving from US to UK

My wife and I will be moving to the UK from the US on a work visa sponsored by my employer. One of things I'm most unsure about it how to deal with our current financial accounts. We have one joint ...
5
votes
2answers
160 views

Tuition Fees - Are British students who have already started their course affected by the recent vote to increase tuition fees?

I've read that students who are already at university and will not be affected by the changes in tuition fees, which have been voted in today in Britain. However, given the very deceptive wording in ...
3
votes
2answers
69 views

UK: Highest yield for funds I don't need instant access to

I'm looking to buy a house in a couple of years and I have a sum saved for the deposit. I won't need access to this money instantly, I think a 6 month / 1 year notice period is ok. Where is the best ...
10
votes
3answers
433 views

Is it worth having a pension?

I know this could be a duplicate of other questions here, but I think I have a different take on it which may be of interest to others in a similar frame of mind. Some background I'm self-employed ...
7
votes
2answers
286 views

moving family deposits away from Greece (possibly in UK)

Me and my family are worried about the current financial situation in Greece and want to move our deposits away to an another more stable country. Is this too much? We've seen other people doing it. ...
6
votes
5answers
295 views

What is the best way to access money in the UK while living and working in Germany?

I'm a self-employed Brit living and working in Germany, but virtually all of my clients are still in the UK and so pay me by BACS into my Nationwide UK current account in pounds Sterling. I've been ...
1
vote
1answer
398 views

How can I work out how much a side-job contracting will be taxed for?

I'm a full time employee on monthly salary, all done by the book. I'm thinking of doing some part time contracting in my spare time, maybe 15 hours per week. How can I estimate how tax will effect ...
2
votes
2answers
274 views

[UK] What are the consequences of transferring ownership (not selling) a vehicle on tax, licensing and future resale value?

Many cities in the UK won't sell more than one parking permit per person. I didn't realise this when buying a second car and now need to transfer one of them into my wife's name (who uses one of the ...
3
votes
2answers
95 views

What is APR when looking at mortgages?

When looking at mortgages they all have an APR figure "for comparison". What does APR mean, and how does it allow you to compare the products?
6
votes
2answers
214 views

Can you tell how much mortgage payments will be after the fixed term?

We're looking to buy our first house, and are considering the different options for a mortgage. We are in the UK. We're having trouble comparing the options because it seems that you can only tell ...
1
vote
2answers
1k views

Can I get a mortgage from a foreign bank?

I live in the UK is it possible to transfer a mortgage to a bank based in a different country that doesn't operate in the UK, say Germany or United states for example?
2
votes
4answers
193 views

I thought student loans didn't have interest, or at least very low interest? [UK]

I was under the impression that UK student loans were really cheap credit, and were incredibly low interest rates. After hearing some radio shows on student finance their advice was to always pay the ...
4
votes
5answers
468 views

First time buyer interested in buy-to-let, bad idea?

I'm a first time buyer, living at home, on a good salary of around £25k and with no major committments. I would like to get a mortgage and get on the ladder, but I'm quite content living at home, and ...
4
votes
1answer
2k views

US ISA equivalent for tax exempt investment & savings

In the UK you can put up to £11,520 per year into an Individual Savings Account (ISA). This account allows you to invest in stock, unit trusts, index funds etc. and all income and capital gains are ...
3
votes
3answers
674 views

Why is my credit card not showing on my credit report?

I have just got my credit report. All seems fine, but I have noticed that there is no mention of my credit card on the report. I only have one and it is with the same bank current account. I was a ...
5
votes
3answers
231 views

Will I have any problems keeping my money in a UK bank, even though I am out of the country?

I was working in the UK for 2 years. I had opened an account with one of the banks in the UK where my salary used to be credited. Now, I am away from the UK for over a year, however I do have a ...
4
votes
2answers
148 views

Why are both government and commercial bond prices rising?

For the last 2 months both Gilt (UK government bonds) and UK commercial bond prices have increased. Many commentators have said the flight to government debt is a response to stock market uncertainty, ...
4
votes
3answers
5k views

Can a foreigner open a bank account in the UK?

I am from Hungary and I will visit the UK for about a month (just for fun). I would like to open a bank account there. Can I do that? What are the latest regulations? Are there any special ...
7
votes
1answer
352 views

Most cost effective way to regularly transfer funds from the US to the UK?

I've recently moved to the US, but I still own a house and a car in the UK so I need to make regular transfers from the US to the UK in order to pay my UK mortgage. Admittedly I've left it a little ...