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

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10
votes
1answer
2k views

Can I get a mortgage if I'm employed by my own company, rather than self employed?

My partner and I are looking to buy a house as soon as possible (i.e., the second we have the deposit in the next 3-4 months). My partner is currently in full time work but we want to focus on our own ...
-3
votes
1answer
155 views

Is it possible to pay contracts using gold in the UK using legal tender gold coins?

I have looked around for this for ages and for obvious reasons, would be a very efficient means of paying bills without HMRC taking a cut (as long as I can't be attacked for Tax evasion). I have seen ...
2
votes
2answers
297 views

Are company dividend reinvestment plans (DRIP) limited to US citizens?

Im moving to the states in 5 months but would like to start investing in US companies, namely through dividend reinvestment schemes. Are these limited to US citizens or can I start investing from ...
4
votes
1answer
178 views

How do I evaluate risk exposure to my U.K. bank in light of the possible collapse of the Euro or Eurozone economies?

I understand there are concerns about runs on banks in Eurozone countries like Greece and Spain. Should this happen, it might put pressure on banks elsewhere. How can I evaluate the risk exposure of ...
1
vote
1answer
908 views

Where to find a list of online U.K. stock brokers that permit trading in U.S. stock markets?

I am currently a beginner investor, in the U.K., and I would like to know what are the best online international stock brokers. That is, I wish to trade stocks that are listed on U.S. stock exchanges. ...
1
vote
6answers
2k views

Is there a free, online stock screener for UK stocks?

Does anyone know if there is a free online Stock Screener for UK stocks, especially for the companies in the FTSE100? I'm looking for something similar to the Stock Screener created by Google ...
2
votes
1answer
199 views

As a contractor - my right to substitution with IR35

Looking at IR 35 compliance : http://www.contracteye.co.uk/ir35_compliance_overview.shtml Substitution An important IR35 factor, you should ensure that your contract allows you to provide ...
2
votes
1answer
81 views

Cashing in a Self Selected Stocks & Shares ISA

If I wanted to cash in my ISA today, what taxes would I have to pay and what percentages would they be? I think that if the value of the ISA is about £10,600, only then would I have to pay capital ...
9
votes
3answers
401 views

How should we deal with money during my spouse's maternity leave?

I recently realised that my partner is more anxious than I suspected about what we're going to do about money. Principally, she feels guilty for spending money on herself, and is worried about the ...
0
votes
1answer
55 views

UK Stocks & Shares ISA - Annual maintenance charge

I've been thinking about starting a UK Stocks & Shares based ISA. I am planning on using my Banking company to start the ISA with. I understand that they have a 2% annual maintenance charge for ...
3
votes
1answer
705 views

Mortgage implications if I were to quit my job shortly after being approved?

I'm in a situation where I'm building my business around a regular job. As it stands the max I can borrow is about £46,000 (damn UK, I earn half of that/year!), based on my current salary. I would ...
4
votes
1answer
124 views

Working out if I should be registered as self-employed in the UK

I have spent the past few evenings trying to work out what is the correct thing to do with regards to taxation in the UK for my set of circumstances. 9-5 I work for a company and am on PAYE. 5-9 I ...
1
vote
2answers
279 views

Online transaction - Money taken out late

I recently made a transaction online using my UK current account Debit Card (maestro). Essentially I deposited money into my online account, which can the be used to play games. The website informed ...
2
votes
6answers
330 views

Investement for beginners in the United Kingdom

Apologies if this question has been asked elsewhere. I live in the UK and earn a decent salary. I have never invested in shares or stocks, or bought a government bond. But I have recently started ...
2
votes
1answer
93 views

Is it preferable to move emergency savings/retirement into offset mortgage?

I have some savings in an easy access stocks & shares ISA. I view this as long-term savings/emergency money. Is it preferable to leave the money in there or is it better to transfer that across ...
2
votes
2answers
228 views

Going carless: how long before insurance no-claims benefits and good history become invalid should wish to become a car owner in future?

Going carless: how long before car insurance no-claims benefits and good history become invalid should wish to become a car owner in future? Update: Based in UK, would keep license. Reason for going ...
1
vote
2answers
578 views

PCP or Bank Loan for Car Purchase?

I'm trying to figure out the best way to pay for a car we're about to purchase. I had a figure in mind of between £6-7k when looking at cars, so I also knew I wanted to pay around £200-£240 per month ...
2
votes
1answer
149 views

How will I be repaid my income tax allowance after paying full tax

I have been paying full income tax since the start of my first job in September 2011. The personal allowance for the year 2011-2012 is £7475. Will I receive a cheque from HMRC for the amount I have ...
3
votes
3answers
538 views

Bank statements - should I retain hardcopies for tax or other official purposes (or keep digital scanned copies)?

Should I retain bank statements hardcopies for tax or other official purposes? Or are scanned digital copies valid in such circumstances? I am a salaried employee with no other income and fairly ...
1
vote
1answer
65 views

Are England exchange rates & import prices based on the Bank of England interest rate?

Are England exchange rates and import prices based on the Bank of England base/interest rate? Basically, I just wanted to know how and if import prices and/or exchange rates in England have the Bank ...
3
votes
2answers
273 views

What tax can I expect on US stocks in a UK ISA?

What are the tax implications of holding US stocks in a UK self-select trading ISA? Ordinarily I'd expect the UK-US tax treaty to cover any taxation issues, so that I'd pay the UK rates of tax. But ...
1
vote
2answers
163 views

Cheap SIPP providers in the UK

What are cheap SIPP providers in the UK? I would be saving around £333 each month in a SIPP starting from zero (all my previous pension contributions are in an employer-organizaed group pension plan). ...
3
votes
1answer
843 views

Why does the fiscal year in many countries start in April?

I was just wondering why in the UK the fiscal year starts in April. Is there any historical reason for this?
0
votes
2answers
372 views

Do I have to pay a bank to release funds to my account or should they deduct what they need from the amount?

My girlfriend wants to transfer her inheritance of 1,000,000.00 from her bank in the United Kingdom to my account in the United States. Her bank says I need to send $9,600.00 to them; they said that ...
2
votes
2answers
88 views

How to handle recurring commissions from small business activity from a tax POV?

I'm operating a web-based service in the UK where I receive a commission every time a customer makes a sale through my service. What is the best way to structure a business or record income ...
4
votes
2answers
182 views

Money transfer to the U.K

Has anyone used a peer-to-peer option for sending money abroad? I pay a mortgage in the U.K. and am looking at the likes of CurrencyFair or Transferwise to exchange my Euro. Are there any hidden ...
7
votes
1answer
75 views

FTSE exposure in US Exchanges

Is there a FTSE 100 index futures contract that trades on the US exchanges? Thanks I think there is an ETF but I am looking for futures, mainly for charting purposes.
3
votes
2answers
97 views

How to deal with VAT when traveling from US to Europe?

I am going to be traveling to Europe (Paris, London, and Rome) for the first time. I have only heard of VAT and I am not sure I truly understand it. What do I need to know about it and how do I keep ...
3
votes
2answers
117 views

Potential problems with SIPPs and ETFs

My plan for kick-starting my pension is to set up a Self Invested Pension Plan and buy some ftse 100 Exchange Traded Funds (iShares, probably). This is only the starting point, the simplest thing ...
8
votes
1answer
515 views

Android Developer taxes in the UK

I'm living in the UK and doing some after hours experiments with Android OS. Some of my apps started getting money. I still haven't entered my bank details in Merchant account, so every time after ...
1
vote
1answer
151 views

US or UK based ETF Index funds for UK investor?

I would like to invest in ETF Index funds. Vanguard funds have cheapest MER, around 0.2% and it was my initial choice, but then I've learned about some tax complications which I still don't ...
3
votes
3answers
164 views

How can a U.K.-based investor easily buy stock index fund shares?

Totally basic question, but I'm clueless :(. How do I buy stocks (I'm based in UK)? I want to buy shares of index funds. Vanguard in the U.K. offers following options: Invest directly - minimum ...
0
votes
1answer
29 views

Understanding company pension plan monthly purchase of funds

A pension based on funds. What does it mean to add £500 a month to a pension based on funds? Does that mean, I will own an additional £500 worth of that fund each month based on how much of the fund ...
3
votes
1answer
339 views

Can you use vouchers as tax free bonuses for employees in the UK?

Preface: My brother has now worked for several large banks that have given him vouchers for bonuses (or I believe they called them prizes) for reaching targets. Yet I can find nothing about this ...
3
votes
1answer
668 views

If I default on my mortgage do I get my deposit back as a % of the sale of the property?

Say I put down 50% deposit on a house (in the UK), and the other 50% is provided through a mortgage, what happens if I default? Does the bank walk away with the property and the potential of selling ...
7
votes
2answers
104 views

What to consider when starting a savings account for my children?

I want to start saving some money regularly for when my children turn 18. What options are available to me and what are some things I need to consider when choosing the right approach?
2
votes
1answer
181 views

How can I find a bank willing to provide a mortgage on a house affected by Japanese knotweed? (UK)

How can I find a U.K. bank that would consider providing a residential mortgage on a property affected by Japanese knotweed? The problem is fairly minor and is under control. If you've been able to ...
3
votes
1answer
614 views

What is Remittance vs. Arising basis in Tax?

What is remittance and arising basis with regard to tax? From here: http://taxaid.org.uk/situations/migrant-workernew-to-the-uk/income-from-abroad-arising-basis-vs-remittance-basis Arising basis ...
6
votes
3answers
2k views

What happens if I make an unintentional over payment into a UK Cash ISA?

I have a UK cash ISA, but have lost track of whether I have transferred all the money that I am allowed to for this tax year. What happens if I try to top up a cash ISA, when I have already used my ...
6
votes
2answers
390 views

Net income graphed as a function of pre-tax gross income?

Background: both as a self-employed, and with a single-person company, the relationship between amount of money made, and post-tax net income seems non-trivial. Self-employed professionals have ...
4
votes
3answers
235 views

As an American working in the UK, do I have to pay taxes on foreign income?

I'm an American living and working in the UK on a Tier 2 visa. I am considering making an Android app. Lets say I make money from an Android app in the US and the resulting money goes into my US ...
4
votes
1answer
335 views

Will the UK tax my American 401k if I roll it over?

I now live in the UK. I am here on a Tier 2 intracompany transfer visa. I have a 401k from my last job which I haven't yet rolled over. I'm pretty sure the UK won't tax me on that if I roll it over ...
3
votes
1answer
186 views

What options exist for UK non-residents to preserve capital while abroad?

I'm a British national, currently working in Ireland and shortly moving to US on an internal transfer. I have some money in the UK which I intend to use for a property deposit when I return in ~3 ...
2
votes
1answer
967 views

What is the UK equivalent of the VIX volatility index?

The VIX is a measurement of volatility in US markets. What about UK markets?
5
votes
3answers
2k views

Quotes for work by a tradesman in the UK: rules for VAT?

If I receive a quote for work from a tradesman, and this quote is supplied as a document (PDF) which does not mention VAT as being either includes or excluded, can the tradesman later say that it ...
4
votes
2answers
345 views

Work on the side for my wife's company

I have a job in the UK where I am in the 40% tax band. I have the opportunity do some freelance work (web site building) in my spare time. My wife does not work. Could I set my wife up as a sole ...
5
votes
1answer
94 views

Declaring income from rent

Currently I am renting out my flat to my Sister in law. My mortgage is ~£580 a month and here rent is £600. I am not doing this to make money just to cover the mortgage cost. Do I need to declare the ...
4
votes
3answers
194 views

Are there any catches with interest from banks? Is this interest “too good to be true”?

Here's the long put short: I'll have £100,000 in my possession soon (inherited). I'm 17 so I have a NatWest Adapt account (teenager bank account) with an interest of 1.09%. Now, if I was to put the ...
5
votes
2answers
114 views

Long Term Savings for daughter - UK

I have about £5000.00 that I want to lock away for my daughter when she is older. The problem is that with interest rates so low this money will evaporate in an average savings account or worse in ...
5
votes
2answers
182 views

Buying first house with help from parents

First of all, it might help you to know I reside in the UK. It might make a difference. We (my gf and myself) are buying our first house and my parents are willing to help us out. What has been ...