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

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3
votes
1answer
110 views

UK Defered Pension. Lump Sum or Weekly benefits?

My mother in law chose not to retire at 60 and has worked another 5 years. At the time she chose to defer her state pension and it's been increasing in value since. Now at 65, she has chosen to retire ...
0
votes
0answers
58 views

PERFORM GROUP - De-listing of stock

You had a question regarding UK stock in the Perform Group in October 2014. I am in the unenviable position of owning the same stock but did not receive any communication or information regarding the ...
1
vote
0answers
163 views

Do I have to pay UK tax on earnings from Saudi Arabia

I started working in Saudi Arabia on the 31st August 2015, I plan to resign from my job and return to the UK mid July 2015. Will I have to pay UK tax on my earnings from Saudi Arabia? I don't own ...
2
votes
1answer
645 views

If I register as self employed working freelance in evenings and weekends do I need to inform my full time employer?

I am employed full time and wish to do some freelance work as well, and as I understand it I will need to register to be self employed and fill in a tax return. Yet, would I have to inform my current ...
1
vote
0answers
63 views

Help with tax on foreign income

I am looking for some advice. My wife and I have a joint NRO account in India. Here in the UK, I am a higher rate tax payer (40%). We sold a house in 2012 and although that required tax in India, it ...
11
votes
7answers
2k views

How is monthly rent calculated for an odd term?

Is there a formula to calculate monthly rent for an odd number of days? Given that not every tenant checks in at the start of the month and checks out at the end of another month, the term of the ...
1
vote
2answers
188 views

Property Trust - who or what is the Owner?

I'm trying to work out an arrangement to use some neglected UK property held in trust by a not-very active corporation. I'm puzzled by the nature of trust ownership. In essence, who owns land held in ...
4
votes
2answers
376 views

What is the best, low risk investment I can make now?

I'm a software engineer in London, UK. I just turned 27. The past 5 years, I have put as much as I can into paying off my student loan (that is from another country) and have only just cleared the ...
4
votes
2answers
139 views

Choice between 2 false options in UK Tax rebate form

My wife stopped working in November 2014, and consequently we suspect she may have overpaid tax, and be able to reclaim from HMRC. We've found the relevant form to fill in (here, linked from this ...
1
vote
1answer
91 views

“Notification from Department for Work and Pensions” in tax rebate claim - UK

My wife stopped working in November 2014, and consequently we suspect she may have overpaid tax, and be able to reclaim from HMRC. We've found the relevant form to fill in (here, linked from this ...
13
votes
3answers
2k views

Is the UK 'Cycle to Work' scheme worthwhile?

There is a cycle to work scheme my work is offering which works roughly like so: Change some of your pre-tax salary into vouchers to use to buy a bicycle, and bicycle equipment (helmets, lights etc). ...
7
votes
2answers
626 views

Wife wants to buy me out of our house - how to do this?

My wife and I want to separate, and have agreed in principle that she will pay me half the value of the house we share and I’ll move out. As she has just inherited a large amount following her ...
3
votes
3answers
1k views

Will I be chased for debt if I move out of the UK?

I am an International Student studying in the UK. I took some loans for about £3000 from a bank while I was studying here. Since the government has abandoned PSW visa for graduates it's likely that I ...
0
votes
0answers
115 views

Are HMRC (UK tax inspectors) required to give specific notice of late filing penalties?

I'm in a difficult position with respect to HMRC. My story: just before the deadline for submitting an income tax return for the tax year 2013-2014, this January (2015) I got a letter from HMRC ...
1
vote
1answer
5k views

What is the meaning of “advice confirms” in a bank statement?

I got some money transferred from a company in the USA to my UK bank (HSBC) account and I found that it is listed as "advice confirms" in the bank statement record online. What does this mean?
5
votes
1answer
552 views

Financial loan/pension jiggery pokery?

Without my asking my bank has offered me a £10,000 loan over 3 year at 3.8% APR fixed. They say that over 3 years the total amount payable will be £10,586.52. This sounds quite good VFM. On the other ...
2
votes
1answer
172 views

UK citizen going to freelance overseas - what type of specialist should I talk to for tax/registration advice?

I'm planning to leave the UK for around 12 months and work freelance in a non-EU country. I know there are many things I need to get right in terms of registration and financial declarations, tax ...
1
vote
4answers
355 views

I am not VAT registered. Do I need to buy from my supplier with excl VAT prices or incl VAT?

I have a small e-shop and my UK registered company is not VAT registered. I am buying sprays from supplier (UK company also) but he has given me quotes without VAT, but I think I need to pay him ...
11
votes
2answers
885 views

How to represent mortgage overpayments in household budget

I keep a household budget spreadsheet, one tab of which represents our savings. Some of our savings is in traditional savings vehicles (ISAs etc.), but some of it has been used to overpay the ...
2
votes
1answer
73 views

Capital gains tax applicability if buying a House abroad

I want to sell my House in India and bring that money to UK (living here for 2 years) to buy a house in UK. It will help me securing a loan by increasing the down payment I can make. My question is, ...
0
votes
1answer
124 views

Withdrawing money abroad

I am visiting europe but i am using my local bank in my home country. My home country bank cut international withdrawal fee every time i withdraw, thts fine but what i wanted to know, when is it good ...
2
votes
0answers
48 views

What is the economically rational way to fund leasehold property management?

I am trying to find a company to manage the block of flats (apartment building) I live in. What is the economically rational way to pay for property management services, According to traditional ...
6
votes
1answer
100 views

Can you change auto-enrollment pension provider? And what happens if you change jobs?

I'm trying to figure out if someone who has been auto-enrolled in a company pension scheme can change their pension provider. I opted out of the pension provided by my company because I couldn't ...
1
vote
0answers
125 views

Selling a home in the UK to buy a home in the US

I US citizen currently live in the UK, but will be moving back to the US in the near future. I own a home in the UK, with a sizeable mortgage and a LTV ratio of about 70%. I would like to sell my home ...
4
votes
1answer
185 views

As a minor in the UK do I need to pay taxes on self-employment income, and if so how?

I run a game community which is based around Minecraft at the moment with just under 40,000 registered users and I want to expand to YouTube which is in the works and other games. We relaunched ...
3
votes
3answers
771 views

Does it count as a benefit in kind if I'm purchasing benefits with my salary?

I'm working in the UK and my job pays me a basic salary, plus a "value account" worth 25% of my basic salary. The value account can be used to purchase benefits, including medical insurance, life ...
3
votes
1answer
66 views

Is it possible to split taxation of funds earned from a crowdfunding campaign over multiple years?

I'm intending to run a crowdfunding campaign at the beginning of next year, for a project that will take a number of years to complete. I want to try to understand a little more about how any income ...
1
vote
2answers
57 views

Do I need to earn a specific amount before I can reclaim VAT as a company in the UK?

I just wondered - if I have a business in the UK is there any restrictions on claiming VAT back on items bought for the business - do I need to earn over a certain threshold as I don't earn that much ...
0
votes
0answers
150 views

Can the legal owner of a vehicle cancel a change of keeper request?

I am the legal owner of a car. I don't posses a Full UK Licence (I have a Provisional) so whilst I was waiting for my test I transferred the car to a friend (V5) which made him the registered keeper. ...
1
vote
1answer
310 views

Unable to get a mortgage with partner, can we still share the house? (UK)

My long term girlfriend are trying to buy a house together. She is an EU national but has not lived in the UK in the past 3 years. We each have half the money we need and my income is good enough to ...
4
votes
5answers
646 views

Retirement - Annuity or not?

I have a pension worth around £150k and am due to retire soon. With the new pension rules in the UK, what would be some good options to maximise my income post-retirement? Annuity - I will be ...
-2
votes
2answers
135 views

Is UK house price spiral connected to debt based monetary system? [closed]

Is the monetary system's debt basis* driving government policy on housing and property, and how could this ultimately affect personal housing affordability? The UK has an ongoing 'situation' with ...
3
votes
1answer
75 views

Payslips for assistant in the UK

I operate as a sole trader. I have an assistant that I pay on a regular basis. Do I need to provide them with payslips? If so, what information is legally required to be shown on the payslip other ...
1
vote
1answer
89 views

I'm contracting from London for a company based in Paris, and they require Proof of Residence for my Ltd Company. Where can I get this?

I've already gone through the process to obtain a "Proof of Residence" letter on the HMRC website. Once the application was completed, the email I received stated about applications in general that ...
2
votes
1answer
88 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
votes
4answers
735 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 ...
2
votes
2answers
2k 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). ...
3
votes
1answer
269 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 ...
3
votes
1answer
113 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 ...
0
votes
2answers
56 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 ...
3
votes
1answer
106 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 ...
1
vote
5answers
895 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 ...
2
votes
3answers
745 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 ...
4
votes
2answers
627 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 ...
1
vote
1answer
104 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 ...
3
votes
1answer
294 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 ...
4
votes
2answers
489 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, ...
2
votes
0answers
59 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 ...
2
votes
3answers
232 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 ...
3
votes
0answers
68 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 ...