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

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2
votes
1answer
159 views

Is my salary in UK taxable in India?

I have been moved to UK temporarily from India for 2 years. In whole 2013-2014 financial year, I am in UK and getting my salary in UK itself which is being credited in UK based bank. Will my income ...
0
votes
3answers
314 views

Priced out of London property market. What are my accommodation investment options?

I'm from the UK, I don't have any debt and have some savings that could get me a mortgage somewhere but not where I currently live in London. At the moment I pay low rent but I'm very keen to divert ...
1
vote
2answers
58 views

Effect of taxation changes for an employed landlord (£40K) with a rental property that breaks even

What effect do the recent changes to UK taxation have on a landlord with employment income of about £40K and a unfurnished rental property that just about breaks even? (E.g. the rent just about ...
3
votes
2answers
157 views

What's the reason I can't have insurance with more than one company?

Excuse my pure ignorance on this matter, I barely understand the basics of any insurance. When I first moved to the UK years ago I have been told that I can't have life, health, car, contents ...
4
votes
2answers
235 views

Buy to Let - Daughter-in-Law

My son and daughter-in-law are currently separated. They have 2 kids, and I have a great relationship with my daughter-in-law. I have had a relative die, and she is paying over the odds for rent, so I ...
4
votes
3answers
2k 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 ...
0
votes
1answer
38 views

e-banking from oversea bank to the UK bank & IBAN code

I have paid my tuition fees with e-banking from my country to the UK. And I've filled in SWIFT code and the addressee’s name, address, and UK account number instead of IBAN code. This will be ...
8
votes
3answers
386 views

Is bad for a person's 'financial reputation' to have transactions to lottery sites on his/her bank statement?

I want to buy a UK National Lottery ticket using my debit card but I don't want my bank to hold this against me - I don't want to ruin my credit report. Am I right to worry about this?
0
votes
1answer
45 views

Is 'Cost of raw materials and consumables' the same as CoS (Cost of Sales/Services)? [closed]

As a IT contractor, I'm doing my company tax return, however I don't know where I should put my Cost of Services? Normally I could find Cost of Sales in the Full Accounts, but not for Micro-Entities’ ...
1
vote
2answers
131 views

Can I invoice my self-owned company?

As being self-employed, can I invoice my self-own non-VAT Limited company (used for IT contracting)? If so, in what circumstances (e.g. making my own Ltd company website)?
1
vote
0answers
32 views

Funds supermarkets transaction time frames - are all so vague?

When I was buying funds through fund supermarket time frames given were very vague. Trade was supposed to be executed at next "transaction point", without much description when is it. I am guessing ...
1
vote
1answer
116 views

Am I being underpaid?

I earn £18000 pro rata for ten weeks. This full month I have just worked is gross pay of £1384, National Insurance was £85, Tax Code 1066L therefore PAYE = £0 Shouldn't my gross pay be £1500 though, ...
1
vote
1answer
36 views

Do you pay any tax on dividends up to £30k?

I'm a bit confused how dividends are taxable. Assuming I want to take ~£30k dividends ('tax credit' excluded) on which I will use my ~£10k personal allowance. Do I pay any income tax from it (from ...
1
vote
1answer
154 views

£600 per month after rent: is this good?

After income tax, I will take home a pay of £1880 per month. After rent, this becomes around £600 per month. But I haven't included council tax in this, so it will be less than £600. Is this ...
4
votes
1answer
2k views

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

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 ...
5
votes
2answers
7k 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 ...
0
votes
1answer
43 views

Do I have to pay council tax if I rent for 6 months?

I'm not a student, I'm a postdoc and unfortunately I need to pay tax. If I rent a property by myself for 6 whole months, do I need to pay council tax on it? Do I get any discounts at all? I read ...
2
votes
1answer
34 views

Which type of company accounts to choose for LTD tax return?

I'm trying to file a File company's annual accounts on Companies House WebFilling website, however I've the following type of accounts: Abbreviated Accounts These audit exempt accounts are ...
2
votes
2answers
81 views

Renting a flat in the UK with a student

I'm a working professional, and want to rent a privately-owned 2 bed flat in the UK with a master's student. I know some landlords don't want to rent to students. But since I am employed, would they ...
3
votes
3answers
198 views

Renting Out A Spare Room UK

I'm in the process of buying a two bed property and have a few friends interested in renting out the spare room. Looking into it, it seems this would be taxable income though there is the rent a room ...
0
votes
0answers
44 views

make international payment on behalf of another company

A relative of mine is a partner in a company in Greece. The company needs to make an international payment to a company in Taiwan (10.000 EUR) for some equipment they purchased. They do have this sum ...
3
votes
1answer
98 views

will using credit card a lot help building credit score?

I have a credit card with a very low limit, which I finish regularly in a very limited time. will using it to the limit and pay the balance several time per one statement help to build the credit ...
5
votes
1answer
206 views

How can I stop debt collection agencies contacting me about an ex-partner who moved away 10 years ago?

I divorced about 10 years ago and transferred my mortgage out of my partner's name. However it appears as if my ex has been taking out more loans and not paying them back and every month or so a ...
1
vote
2answers
314 views

Is it possible to transfer money from UK bank account to Egypt bank account?

I am working currently in UK and my HSBC uk bank told me that it is not possible to transfer from/to egypt any money, so is that really true? and what other ways I can do so?
2
votes
1answer
97 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
1answer
95 views

Savings on tax money as a married person?

As I am on normal wage in which I don't have any saving and it's my first job in UK, and as a foreigner I don't know much about rules. I heard somewhere that I can talk to my HR manager to cut me back ...
2
votes
1answer
135 views

Buying a UK property but from another country

My sister in law is looking to buy a UK property as a holiday home, she lives in Norway, other than our normal buying costs, is there any other taxes or fees she has to pay as a non UK resident ?
3
votes
2answers
103 views

Double entry for mortgage

Q. What entries should be made for mortgage and interest only repayments? For info I use GnuCash. Situation: I have an interest (repayment) only mortgage of, say, £50,000. They added their fees to ...
0
votes
0answers
39 views

Handling expenses for corporate tax in GnuCash

I am very new to the whole concept of book-keeping (Read GnuCash help - that's it) at the moment and was wondering if I could get some pointers in here. I am running a micro limited company (One ...
5
votes
2answers
281 views

Will paying off my mortage quickly harm my chances in the future?

I'm currently nearing the end of the first year of my new 25-year mortgage, which is a five-year fixed plan at 3.39%. As it stands, I can make overpayments of up to 10% of the original loan every year ...
2
votes
3answers
140 views

Does a company in the UK have to pay taxes on betting winnings?

Betting in the UK is taxed on the company level so the bettor doesn't have to pay taxes on his winnings. I have a company in the UK whose only objective is to trade on sports betting. Will I have to ...
1
vote
0answers
42 views

Working as a self employed freelancer for an overseas company

I will soon be working on a self employed basis for a company based in Poland,but I'm still going to be based in the UK (working remotely/online as a consultant) and my question is do I need to pay ...
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 ...
2
votes
1answer
237 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 ...
1
vote
5answers
324 views

Is it wise to have plenty of current accounts in different banks?

Is it ok for an individual to open many (10+) current accounts with different banks? I have no business. The reason behind that is that I usually get a credit card with every new bank account I ...
0
votes
1answer
68 views

What should I take into consideration when deciding whether to transfer a pension fund?

I have a pension with a previous company, and a pension with the company I am working for now. The two pensions are very similar as far as I can tell. How should I decide whether to leave the old ...
0
votes
1answer
302 views

Can I sell shares with old-fashioned paper certificates online?

I have the paper certificates in my name, of some ordinary shares that were bought in 2009 in the UK. Can I sell them online?
0
votes
0answers
27 views

Why is NASDAQ:GLBL not available to trade through my broker, 4 trading session later?

NASDAQ:GLBL TerraForm Global has recently went through IPO pricing, on 31st of July. Yet today, 5th of August, it doesn't appear to be available for trading through UK brokers (e.g. IG Markets) Is it ...
3
votes
0answers
89 views

Italian mother-in-law died but also had UK Bank account - bank wants UK Probate to move money

My mother-in-law was Italian citizen and lived in Italy (with Italian husband), she died last week. The problem is she also had a UK bank account (which was opened years ago and registered to our UK ...
4
votes
4answers
655 views

Buying a building with two flats, can I rent one out and still get a residential mortgage?

I'm looking to buy a house (first time buyer) and I've seen an interesting property that is currently a (empty) retail space on the ground floor, and the above space is a self-contained flat (which is ...
4
votes
2answers
91 views

Recently quit job to start a limited company, registering as self employed?

I recently quit my job to start a limited company. I don't expect to make any money or pay myself anything for probably at least 4-6 months, so do I need to register myself as self-employed and the ...
1
vote
2answers
72 views

Can I register for VAT to claim back VAT without selling VAT applicable goods? (UK)

I do not sell any goods that are chargeable for VAT. I am not currently registered for VAT. I know that you cannot claim VAT refunds without being registered for VAT, and charging it on applicable ...
4
votes
1answer
35 views

UK National Insurance deduction as income tax in NZ

I understand as a New Zealand tax resident I am required to declare my worldwide income and the tax I pay on this income back in NZ each year when I do my tax return. However I am wondering what the ...
2
votes
0answers
28 views

Non resident working for a UK company from abroad and receiving on UK account - taxable?

I have been living in UK for 1 year and working for an UK company for the past months. Then my visa expired and I returned to my home in Brazil. However me and that company intend to keep me working ...
2
votes
2answers
596 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
vote
3answers
178 views

Do I need to tell an estate agent how much a bank is willing to lend us?

We live in the UK and are hoping to move home. We wanted to put an offer in on a house. We have already spoken to our bank who have given us a letter stating the amount we are able to borrow. (Its the ...
3
votes
1answer
85 views

Claiming loss of income due to water damage in residence

I have been recently required to vacate my residence due to flooding. The ceilings, floors and fittings need to be removed from the bathroom, kitchen and hallway, rendering the property uninhabitable ...
2
votes
0answers
79 views

UK taxation for options and futures trading

I live in UK and I see that there are 2 taxes when trading: CGT to be paid on capital gain and is 18% or 28% depending if you are basic tax payer or not income tax on any interest or dividend ...
3
votes
3answers
482 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 ...
7
votes
1answer
64 views

What is the definition of a “first time buyer” with relation to the UK “help to buy isa”?

I'm very interested in the soon to be released "help to buy isa". I'm unclear on the definition of a first time buyer. I have owned a house (with my ex wife) but I am no longer on this mortgage, ...