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

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4answers
807 views

How can my friend in the U.K. cheaply transfer money to me in Israel?

I have a friend who owe me ~600 GB pounds. I have asked him to pay me in USD. What is the cheapest way to transfer the money from UK to Israel? I have checked PayPal - 3.5% commission for ...
0
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2answers
64 views

What's the easiest/best way to be informed of a Director selling shares of a company on London's AIM market?

I was wondering whether anyone had anything set up whereby it would 'push' information about Director's dealings on any particular company, in this case a company on London AIM market. Is there a ...
2
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3answers
301 views

Teaching school kids about money - what are the real life examples of math, budgeting, finance?

Yesterday when renting a car I was listening on the radio to a discussion about introducing classes about money for kids aged 11-14. Here is an article on that topic: Financial education to become ...
2
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0answers
563 views

ESPP in the UK - worth it? Disqualifying / qualifying sales?

I've recently joined a company that offers a ESPP scheme and I just wanted to get a few bits of information as well as confirm that my understanding is correct. You choose a percentage that will be ...
2
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2answers
410 views

How to start investing/thinking about money as a young person?

I have about 10k GBP in my bank, and I know for most of you that is not a huge amount. However, I will finish university soon and I would like to have in the back of my mind about how to start ...
1
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1answer
558 views

Should I move my UK ISA balance into an Australian savings account prior to emigrating?

I have around £6000 in a Santander UK easy ISA, the interest rate on this is 0.10% as listed here I'm planning to emigrate to Australian in the next year, so will be setting up a bank account soon. ...
5
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2answers
162 views

What type of pension should I get?

I am in my mid 30s and am employed full time in the UK. I am currently in a company pension scheme with around 7k in it, but I'm about to start a new job and must leave the scheme. I have the option ...
5
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1answer
3k views

Why would a company issue a scrip dividend and how will this issue affect me?

Barclays in the UK have sent out a leaflet recently (online version) saying they are moving to a Scrip Dividend programme. The FAQ does its best to answer questions but still uses a lot of jargon and ...
3
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1answer
247 views

Is it legal for a hostel to write down my debit card information for security purposes?

I just moved to Manchester and I'm staying at a hostel. I booked a bed online via hostelworld.com. What bothers me is that a receptionist asked me to give her my debit card in order to ensure some ...
2
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1answer
116 views

Cheapest way to trade ETF and mutual funds in UK for an ISA account?

I'm new to UK and currently only have a cash ISA account at a major bank. I'd like to have ETF/mutual funds instead, but the bank's administrative fees for these assets feels way too high. I found ...
3
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1answer
1k views

Is there a U.K. prepaid card having SWIFT, BIC, or IBAN codes, for money transfer?

I'm located in the U.K. Does anyone know if pre-paid cards here, such as Visa prepaid cards, have a SWIFT or BIC or IBAN code, because they are not really a current account? For example, for the ...
6
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1answer
215 views

Do I need to keep paper records for my business?

Do I need to keep paper records of invoices, receipts and anything else required for running a business? Ideally I am hoping that scanned copies are sufficient when running a business.
2
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1answer
453 views

How to enter members drawings on a balance sheet in a UK LLP

I am writing up the annual accounts for our LLP, and I am unsure where to put the Members drawings on the balance sheet. Should the amount drawn by members be written down as debtors in the Current ...
5
votes
4answers
7k views

How to use debit card with money on savings account?

I see that a lot of banks offer savings account and current account with online banking. Usually the savings account can have instant access and some interest rate, while the current account has no ...
2
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1answer
137 views

When buying / selling a house in the UK, is it normal for solicitors' fees to be due before or after completion?

When we made our most recent house move (selling one house and buying another) we had to pay the solicitor's fees in advance of completion - the fees for searches etc. had to be paid upfront before ...
4
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2answers
1k views

How do I arrange a private mortgage between myself and a trusted individual?

I live in the UK. Specifically, how do I draft a loan agreement that provides basic safeguards for borrower and lender (very basic safeguards, as we're talking about an intra-family loan and the level ...
0
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1answer
155 views

Will someone be disadvantaged working longterm as a Contractor vs Permanent Employee

What is the difference in the long run (when you compare at retirement) between a Contractor and a Permanent employee, assuming someone choses to work in one for their whole life? Will the pension be ...
4
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1answer
90 views

Can I open two cash ISAs in one year, or for new savings and one for transfer?

This is slightly different to my earlier ISA question, and relates to the current market conditions where best-buy ISAs often have 1 year bonuses, and may not accept transfers in. Consider the ...
6
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1answer
101 views

Are you allowed to start paying into an ISA, transfer, and then pay into the new one?

As I understand it, you are only allowed to pay into a single Cash ISA in a given tax year. What I'm wondering is how that fits with transfers part way through the year? For example, if I open a new ...
1
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2answers
408 views

Is there a fool-proof way to keep up with inflation? [duplicate]

I know I can keep cash in an interest-based bank account, but that type of investment will not keep up with inflation, it seems. Would I be right to assume that government/corporate bonds can keep up ...
0
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1answer
354 views

Tax Code of D0 and 944L

I was employed with company A from May 2011 till December 2012. I started a new job in January 2013 and the last pay that I got from Company A was on January 15 2013. The payslip stated that my Tax ...
8
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2answers
660 views

Can two people jointly purchase a single share?

I am looking to buy shares in a private, non-listed company whose shares are quite costly. (We're in the UK.) To keep things simple, let's say I'm looking to buy 1 share at a cost of £50,000. (These ...
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0answers
58 views

What's the cost of rebalancing when you buy through a fund supermarket?

I was reading about how to rebalance a funds portfolio and the main drawback seemed to be that you could incurred in more costs than you would if you just do it sporadically. I understand this ...
3
votes
1answer
637 views

When does Irish Stamp Duty apply for UK investors buying Ireland domiciled shares?

Let us assume I am a UK resident with a UK-based trading account, considering to buy Ireland domiciled ETF shares, such as VWRL. I am confused whether I will have to pay Irish Stamp Duty of 1% or ...
3
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1answer
103 views

If I get cash compensation for my stocks (following a merger for example) does that qualify for capital gains tax?

This is the scenario. Say I buy some shares of a company X at a certain value. Some time after this, when I am still holding the stock, the company gets acquired by some company Y and as part of ...
0
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1answer
92 views

PAYE Coding Notice in my name, but referencing a workplace I am not employed to

I have been sent a PAYE coding notice tax reference for April 2013-14 which mentions a place of work I have never been employed. How often does this mistake occur? I am on the waiting list for calling ...
1
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1answer
125 views

Peer to Peer Lending in the UK

Quite a few Peer to Peer Lending sites have cropped up in the UK in the past couple of years examples being: The Funding Circle, Rate Setter, Crowd Cube etc. The yield of return from investing ones ...
1
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2answers
2k views

Best way to transfer a mortgage, and keep the house?

This might be easier if I quickly outline the situation. Currently, I rent out my house (I have consent to let from the Bank), I wish to purchase a new house (with my girlfriend) but because I have a ...
4
votes
1answer
53 views

What is the market rate of non-cash ISA fund administration fee in UK?

A friend of mine suggested a plan that takes a 1% administration fee (from the assets deposited) regardless of the type of investment you make (stock, bond etc.). This sounded quite high from my ...
4
votes
1answer
102 views

How can one guarantee income in the event of incapacitation and also in the case of death in UK?

I wanted a policy that protects my family in case I get injured or get ill (incapacitated) and also in case I die. They suggested a combination of Income Protection Insurance and Life Insurance. ...
4
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1answer
179 views

Separating money in bank account without opening another account

I recently decided I'd like to siphon off a percentage of my income for charitable purposes. In order to do this I could open another bank account and transfer a fixed sum monthly to that account. ...
3
votes
1answer
77 views

HMV gift vouchers bought on a credit card. Can I claim them back from my cc company?

I gave someone some HMV vouchers for Christmas and now HMV isn't accepting vouchers. Could I claim the value of these back from my credit card company under the terms of the consumer credit act?
0
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1answer
177 views

How is tax attributed on a joint savings account?

My girlfriend and I may both use up our ISA allowances this year. We are currently saving for a deposit on a house, so we are considering opening a joint bank account. Next year, I will probably be ...
0
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1answer
441 views

VAT and duties payable when importing personal goods from Switzerland and the Channel Islands to the EU?

Switzerland is a pretty murky one: it's part of the Schengen zone (so there are no physical borders) but it's not part of the European Union Customs Union so you have to pay duties when exiting and ...
0
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0answers
98 views

Are there tax implication on buying US stock while on a job transfer?

I work for a startup company in San Francisco and will be transferring to our London Office in April. Right now, I have vested a little over half of my allotted shares with the company, but have yet ...
1
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3answers
1k views

What could a malicious party potentially achieve by having *just* a name, account number, and sort code?

There seem to be many conflicting points on this issue, most prominently this story published in the Daily Mail not so long ago , so I ask the nice community on stackexchange to shed (researched) ...
5
votes
1answer
290 views

Paying UK tax when working remote for a US company

I'm currently employed by a US company and I'm working remotely from the UK (I'm a UK resident). In my previous employment tax was deducted automatically from wage however tax isn't being deducted ...
4
votes
1answer
165 views

How does S&P schedule reviews of sovereign credit ratings?

It's not too hard to find current sovereign credit ratings, but I need more info. I believe that the major ratings agencies schedule reviews of different countries (or banks, etc.) so what I'd like ...
6
votes
2answers
393 views

What is the advantage to me in not paying off my debts?

I have some credit card debt that is currently on cards where there is 0% interest for periods of between 14-22 months. There was a transfer fee of around 2.9-3.5% for the balance from old cards. I ...
4
votes
1answer
498 views

Calculate 'Credit Score' from Experian statutory credit report?

I ordered a statutory credit report from Experian (UK) last week and it came today. I forgot that it doesn't include a one-off credit score with the report. Is it possible to calculate a credit ...
5
votes
1answer
171 views

Would extending my mortgage cause the terms to be re-negotiated?

I have a particularly good mortgage deal (lifetime tracker, base rate + 0.18% with a 2% collar). If I were to approach my mortgage lender and ask to extend the mortgage, to borrow more against the ...
2
votes
1answer
106 views

American (Private) Ankylosing Spondalytis Health insurance costs compared to the British NHS

I'm a sufferer of Ankylosing Spondalytis, and a resident of the UK - my health care is handled by the National Health Service (NHS). Now in the UK seems to be increasing move to privatise it's health ...
6
votes
1answer
743 views

Funds in closed bank account have gone to the government

My son was advised by his accountant to close his limited company and start a partnership instead. He did this but he was not told that he needed to clear the company bank account - he left this open ...
4
votes
1answer
598 views

Getting a USD cheque, without too many fees, and with a sensible exchange rate?

In order to exercise a stock option, I find myself needing a USD cheque. Annoyingly, it has to be a cheque and it has to be in USD, neither a GBP cheque nor a USD wire transfer are acceptable. (I've ...
5
votes
1answer
171 views

What is involved in becoming vat registered in the UK? any advice?

I'm a self employed web developer working in London, UK. Currently I'm not VAT registered but am approaching the current VAT threshold. I'm wondering if anyone knows what is involved in becoming VAT ...
3
votes
1answer
176 views

What is the difference between state pension plans and defined contribution plans?

Googling "State pension plan" I get the result as shown here: http://www.direct.gov.uk/en/Pensionsandretirementplanning/StatePension/index.htm. As described on the webpage, "Once you claim your State ...
4
votes
1answer
125 views

No Claims Discount

In the UK, if I am involved in an accident that is not my fault will I lose my No Claims Discount? If the No Claims Discount is protected, can I still move to another insurer?
3
votes
1answer
667 views

Can I make use of my wife's unused personal tax free allowance to reduce our income tax?

I'm working full time (UK) and my wife is unemployed. Is there a way (legal of course!) for us to take advantage of her personal tax free allowance? If we were each earning only half my salary, we ...
4
votes
1answer
81 views

As a Brit, how do I invest in US ETFs

Specifically, I'm interested in the Vanguard High Dividend Yield ETF. I actually live in China and don't plan on returning to the UK for the foreseeable future. Although I have some UK investments, ...
3
votes
2answers
87 views

Personal property insurance, without home insurance

I'm trying to insure an engagement ring, and have been advised to look into personal property insurance. However, these schemes all seem to be a bolt-on option to home insurance or home contents ...