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

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3
votes
3answers
440 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
1answer
68 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 ...
4
votes
2answers
93 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 ...
6
votes
1answer
55 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
2answers
102 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
269 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
120 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
80 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
182 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
272 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
2answers
162 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
173 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
71 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 ...
4
votes
1answer
113 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
224 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
83 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
54 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
150 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 ...
2
votes
1answer
270 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 ...
1
vote
1answer
174 views

Sort Code, Account Number, but no account name

I'm trying to pay money into an account. I have the Sort Code and Account Number, but no account name. I know the company that owns the account, but I'm sure they have MANY accounts. Can I put just ...
2
votes
1answer
92 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
65 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
411 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 ...
2
votes
2answers
132 views

Self Assessment UK - Goods and services for your own use

I'm a freelance web developer in the UK. I've only been freelancing for 5 months, and I am in the middle of completing my very first tax return (online). On the form there is a box for which you may ...
14
votes
6answers
2k views

What do I need to know before getting a loan?

Recently, due to a series of events, I've been finding myself... uncomfortable with my financial situation. I'm not in debt, but my account balance did drop into the low three-digit figures a couple ...
3
votes
2answers
331 views

Deposit to help out my Sister to buy her first flat with fiance

I will be made redundant by the end of the year, getting £9,000. I would like to invest this to help out my sister to buy her first property. She and her fiancé have £20,000 of their own deposit and ...
3
votes
4answers
143 views

Will I be liable for taxes if I work for my co. in India for 3 months while I am with my husband in UK

My husband has a temprorary assignment in the UK and I plan to accompany him . My company is open to let me work from home but are there any legal or personal tax implications and how long can I ...
3
votes
1answer
188 views

Do I have to pay an advisor 3% to transfer a pot of £49,000 to another pension provider?

I am looking to re-invest a stand-alone pension (originally called an AVC pension: Additional Voluntary Contributions pension) so that I can take 25% as a tax-free lump sum and retain flexibility in ...
2
votes
0answers
64 views

How do I find good fee-only financial advisors in UK?

I found http://www.vouchedfor.co.uk/ which seemed like a pretty good resource, but was curious if there are more/better resources. I'm an expat living in UK so it would be ideal if the FA is ...
3
votes
2answers
145 views

UK university student finance - should I use my sponsorship money to pay the debt?

I am in the fortunate situation of having both an unconditional offer for a (UK) university I really want to go to, and a sponsorship offer from the company that I have worked for in my gap year, in ...
1
vote
1answer
105 views

Renting with the Help to Buy: mortgage guarantee scheme

With the Help to Buy: mortgage guarantee scheme, I have heard that you cannot rent out the property under the scheme. Is this true? Also I have heard that it is possible that if you get a mortgage ...
0
votes
2answers
168 views

Using a FOREX platform to actually change money

Does anyone know of a FOREX trading platform, on which both GBP and EUR are traded and which allows withdrawals in a different currency from the original deposit? (Just found out forex.com only ...
3
votes
1answer
56 views

How should I include pension contributions in my UK Child Benefit calculations?

I'm using the gov.uk Child Benefit Tax Calculator and I don't know how I include my pension contributions in the "Pension contributions deducted from your pay" and "Pension contributions not paid from ...
0
votes
1answer
290 views

UK Expat with BVI company, can my company bank in the UK

I am about to leave the UK and travel constantly. I am a UK citizen but will become non resident when I leave. My business is run online and I need a business bank account within the EU to receive ...
2
votes
2answers
89 views

Do I have to pay tax both in NYC and England?

I work in London for an English company. I will move to NYC and keep working for the same English company for a few months doing researches to open a new business, and my boss would like to keep ...
2
votes
1answer
203 views

What should I do with a low value pension that I probably won't contribute any more to?

About 7 years ago I was employed by a small company. They set up a pension fund for me which I contributed to while I was employed there. When I eventually left the company to study, I found out that ...
5
votes
1answer
563 views

Tax implications of gift from UK to US

My grandfather is advancing in years and has moved in to an senior citizen's home. He has decided to sell his former home and distribute the proceeds between his descendants. He is a resident and ...
1
vote
0answers
36 views

How to exchange a heavy box of mixed-denomination coins? [duplicate]

I'm living in the UK and I'm about to move flat. In the five years in my current flat I've accumulated around 20kg of mixed coins - from £0.05 to €2 at a glance. Are there any easy ways to exchange ...
2
votes
1answer
128 views

As a UK entity, how to contract with a U.S.-based contractor? Implications for tax/VAT?

Being an organisation incorporated in the UK, if we wish to engage the services of a contractor living and working in the USA, what are the implications for e.g. tax and VAT? Do we need to pay the ...
1
vote
2answers
380 views

ISA trading account options for US citizens living in the UK

I am looking for an ISA trading account that can be opened by US citizens that are UK residents. There seems to be a general trend towards brokers in the EU not wanting to do business with US ...
1
vote
1answer
63 views

declaring payments to a credit card for a shared expense

Long story short: I was travelling abroad with work and we ended up with a large bar tab (over £1500 - don't ask). The company credit card was declined so I paid for it on my personal card. My ...
1
vote
1answer
449 views

Is it possible to buy UK Consols (perpetuities)?

I remember learning about UK consols in my finance class when we were discussing perpetuities. Consols apparently still exist and pay 2.5% perpetually. If I could buy a small one, I think it would ...
1
vote
2answers
392 views

Giving someone else access to a bank account in the UK, any dangers?

I need to give someone else access to a bank account to easily manage shared expenses. That is, allowing them to log in into ebanking. I'm planning on using a bank account I already have under my name ...
2
votes
3answers
354 views

Creating a Limited company while still fully employed

I am thinking of doing contracts instead of full time employment in the IT sector. I have researched that I can go Limited and employe an accountant for all the tax, payroll and dividends. I have not ...
0
votes
0answers
46 views

Adding expenses to sage payroll as tax free amount or on P11D

Hopefully this is the correct forum for this. I have some members of staff that are on Umbrella PAYE. This means they are able to have expenses removed from there original gross in order to then ...
1
vote
1answer
95 views

Undestanding the new UK Pension laws

I have this scenario and I am having problems understanding how this scenario fits into the upcoming pension laws (mentioned in the latest budget). A man who is 66 now and 67 on the 8.11.14 has ...
3
votes
1answer
33 views

What exactly are the SEIS tax benefits and how can I use them?

I'm hoping that someone that understands the UK tax system better than I do can help explain in what way I can benefit from SEIS approved investments. I'm especially interested in understanding if ...
4
votes
2answers
145 views

UK: ISA or regular savings account?

I am not a very savvy investor, am new to ISAs and was wondering: where would be the best place to put £10,000 right now (March 2014)? ISAs have tax benefits, but in general don't seem to beat ...
6
votes
1answer
1k views

How to bet against the London housing market?

A lot of people are talking about a property bubble in London and I was wondering: how could you short the property market and bet on a crash? Is there any obvious way? Basically, how could someone ...
3
votes
1answer
388 views

How to Store Funds Generated through Gambling

I am developing an sophisticated automated betting application. Initial tests show that it is likely to operate well and at a profit. I am in full-time employment and pay full tax on my earnings. This ...