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

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2
votes
2answers
62 views

Is there a trick with ISAs in the UK

I was looking on ISA faq on moneysavingexpert and I noticed the following: I do not understand the trick, say I put GBP100 on a 3% account and that ISA pays 1%. Can I NOT pay tax on the GBP3 I made ...
7
votes
0answers
155 views

My Boss owes money but I am named on letter from debt collection agency (UK)

My employer has an outstanding debt with a company he aked me to speak with a couple of years ago. Now that company has my name listed as a "contact". He received a letter from a debt collection ...
4
votes
3answers
98 views

Recovering Small Workplace Pension Pots

Like many professionals, the new 'standard' length of stay at any one company is around 2-3 years. I myself have moved a few times at the start of my career from one company to another, beginning ...
0
votes
2answers
45 views

Tax Free Allowance

I started working on 21 March 2016 in my first job in the UK. How much tax should I have paid? It seems my company combined my salary with my April salary and deducted a lot of tax. Monthly salary ...
3
votes
7answers
4k views

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

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 ...
4
votes
1answer
421 views

How to Store Funds Generated through FX Trading

I am developing an sophisticated automated trading 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 ...
1
vote
1answer
53 views

Taxes in the UK

I am an EU citizen that recently moved to the UK. I lived in another EU country for the last few years and started a pension saving account there. This account is still open but I live and work in the ...
2
votes
1answer
58 views

First time IT contractor, not UK resident, Umbrella or Limited Company?

Will be starting my first IT developer contract soon lasting 3 months, 260 per day, I don't intend to have another contract until at least 9 months after this first contract. Having read in depth the ...
0
votes
0answers
29 views

Do I have to pay remittance tax?

A friend of mine wants to buy a house in my country in Viet Nam and he authorized a bank in UK to transfer this sum of money of more than 200,000 USD into my bank account. However, this bank asked me ...
1
vote
1answer
76 views

How much financial information should a buyer give an estate agent?

A friend of mine would like to buy a flat. It is currently a sellers' market and the agents write: Along with your offer we require your sales position ie. first time buyer or you have a property ...
2
votes
3answers
660 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 ...
3
votes
1answer
92 views

Investing savings in the UK vs Australia

I have been living in Australia for 4 years now, and although I don't intend to live here forever, I will be here for the foreseeable future. I have savings in the UK and here in Australia, and am ...
1
vote
5answers
898 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 ...
0
votes
0answers
11 views

Am I UK non-resident based on significant ties?

I am a UK and Brazilian citizen with a British and a Brazilian passport. I have lived in Brazil since December 2013 and have not returned to the UK since. In this time, I have worked in Brazil for ...
6
votes
1answer
147 views

How does ISA allowance cumulate over time?

I don't understand how the ISA allowance cumulate (if it does) over time. Suppose I use the entire allowance for 2014. So I will have in the ISA 15k £. What happens in 2015? Suppose no P&L was ...
4
votes
3answers
207 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 ...
1
vote
2answers
147 views

Highstreet bank fund, custom ETF or Nutmeg?

I want to start investing a regular monthly amount to a fund, and by choosing a highstreet bank fund I'm wondering if I'm not making a mistake. Basically, the fund they are trying to sell has, in ...
0
votes
0answers
38 views

Working remotely for a UK based company while living in Japan?

I am currently employed by a UK based company but am going to be working remotely in Japan, then eventually move there while still working for the same company. I have no idea what the tax situation ...
1
vote
0answers
19 views

Will holdings in high-OCF pre-RDR non-“clean-priced” fund unit types eventually be converted to clean priced units?

As soon as it was practical, I made sure all my own fund investments were migrated to a platform with "clean priced" fund units available (and even before that I'd been making use of a ...
6
votes
1answer
211 views

Bed and Breakfast, Same Day Capital Gains UK

1) What exactly is 'same day` rule, there is much talk about it all over the internet but no one seems to be able to explain what it actually is or how it works. Does it mean If I purchased shares in ...
3
votes
3answers
232 views

I need a car for 2 years. Buy or lease (or something else)?

My current situation: I live in UK I'll be soon moving to Europe I'll be back in UK in approx. 2 years I don't own a car at the moment When in Europe, I'll be needing a car. However, I'm not sure ...
1
vote
1answer
125 views

Good investment for capital gain

With the new UK capital gains tax rate at 20% (since the new budget of Wednesday), and the highest band of dividend rate at 32.5% or 38.1%, I think it makes sense to find investments that do not yield ...
1
vote
0answers
26 views

Tax on income earned in the UK

This is the first time I have paid taxes in the US. I am doing my best not to make a mistake. Here's the situation: Worked for three weeks in the UK in January 2015. I have paid UK taxes on this ...
0
votes
0answers
16 views

US based company engaging independent contractor in the UK

If a US-based company engages a citizen and resident of the UK to be an independent contractor, is the US-based company responsible for paying any taxes in the UK, or is payment of taxes on the ...
4
votes
2answers
66 views

Do I actually need a P60 to file a UK tax return?

I want to file my tax return for last tax year as quickly as possible, as I'll be owed a refund. In the employment section it asks for information from my P60, which typically won't be issued for a ...
4
votes
0answers
43 views

Filing world-income for taxation in UK as a non-citizen

First a brief background: I’m a citizen of an EU country where up to recently I’ve resided and been employed as a PhD student at a state institute. After finishing the PhD, I’ve moved to UK to work at ...
0
votes
1answer
26 views

UK summer internship - employee status

During January & February '16 I have done some work for my university for which I filled the HMRC New Starter Checklist form. Since then I have not done any work for them and I have gotten a ...
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 ...
8
votes
6answers
8k views

First salary in the UK not being taxed

I just started working in the UK for the first time and received my first payslip. Another colleague of mine got his second payslip here, from the same company. We were surprised that in the detail ...
1
vote
0answers
63 views

Tax withheld by USA working in UK (Form 1042-S and Form 1099)

I live/work in the UK but own some US shares held by US brokers that I've earned working for a USA company in UK. My broker sent me 1042-S and 1099 forms. Form 1099 reports $957 Federal Income Tax ...
2
votes
1answer
136 views

I paid taxes from my first day of work. Is this a problem with HMRC, or my employer?

I'm working in a warehouse in a picker position. I've been working for a year now, and my question is this: I've been paying income tax since the first day, and I worked before that for a few days ...
2
votes
1answer
202 views

Buying a property for cash

Although I'm no expert on mortgages and the property purchasing process when using one, I'm even less aware of how the process works when buying a property for cash. I will soon be in the fortunate ...
5
votes
1answer
432 views

Any US tax implications — transferring UK ISA balance to USA

My wife has an e-ISA in the UK, from her time living there. It is a savings ISA, not a shares ISA. It is earning very low interest. For ease, I'd like to transfer the money to our USA accounts so ...
1
vote
0answers
66 views

What are financing conditions like in the UK at the moment? [closed]

I'm based in France, and develop renewable energy projects as a small "side business" which I invest in and run myself ; for an "equity" outlay of 5-10%, I can develop projects around 100k€ by ...
6
votes
3answers
2k views

How can I invest my personal money in my own Limited company in the UK?

I registered a Limited company in the UK one year ago and I am the sole shareholder and sole director of the company. Now I want to invest £50k in the company so that I can buy products and rest of ...
-3
votes
1answer
108 views

Paying Income Tax from Day One [closed]

I can't find an answer for my problem here. I started to work from March 2015 and I payd from the first week of employment income tax . Now I have 1 year in this job and even now I can't find a answer ...
0
votes
1answer
48 views

RRP/list price/retail price and cars?

Looking at an online car brochure (PDF version of printed material) for the Vauxhall Astra, it listed RRP: Link As far as I know, am I correct with these: List price is basic price Recommended ...
3
votes
3answers
173 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 ...
8
votes
1answer
152 views

When should one use the new lifetime ISA in place of investing in pension?

Assuming that I am not interested in purchasing a flat using lifetime ISA, is it ever advantageous for me to put money into it in place of a pension? Since lifetime ISA gives 25% tax relief on ...
7
votes
2answers
627 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 ...
4
votes
1answer
96 views

Siblings inherit a property

Two siblings inherit a property that could be joint or tenants in common. Can one of the owners take a mortgage out ( I assume against the property as has no other income or property) without the ...
1
vote
1answer
56 views

Foreign Tax Deduction vs Credit

As I understand it, the Form 1116 Foreign Tax Credit is intended to allow you to avoid double taxation on foreign income. You are allowed a credit up to the amount of US tax that is due to the ...
2
votes
2answers
72 views

Putting borrowed money into an SIPP

I am employed and have about three years' salary in a stocks-and-shares ISA (an investment from which dividend income and capital gains are tax-free). I generally save £600 a month. The bank ...
5
votes
3answers
287 views

Is investing exlusively in a small-cap index fund a wise investment?

I'm 26 live in the UK and do not own a home. I have a regular income of which I save about 33% off after tax and I've good job security. I'm single with no children. I've 60% of my savings in a P2P ...
0
votes
2answers
90 views

While interest rates are low is it better to take a short-term fixed mortgage or long-term one

In the UK mortgage uinterest rates are historically low and I'm in a position where paying off a small mortgage in tens is financially viable. There are however two courses of action I could take: ...
3
votes
4answers
789 views

United Kingdom: Where to save money for a property deposit

I'm currently 22, and I would like to buy a property at some point in 5-10 years, once I can afford the down payment (deposit). I live and work in London England, so for this example, assume my ...
4
votes
1answer
172 views

Can you consolidate ISAs from multiple places?

I have an ISA with company A, and company B, because they offered good rates at the times I opened the ISAs. I know it's possible to transfer an ISA, but can you transfer ISAs from multiple different ...
1
vote
3answers
91 views

How to calculate ownership for property with a partner

Property value : £484,950 My deposit: £20,000 ( plus additional fees for stamp duty of £11,000 payment from myself) Her deposit: £4,247 Help to buy government 40% gov loan interest free for 5 ...
4
votes
1answer
437 views

My girlfriend has never owned a house, I have, can she get a help to buy isa?

this is a follow on from my previous question: What is the definition of a “first time buyer” with relation to the UK “help to buy isa”? So the Help to buy ISA has arrived. Having had a read ...
1
vote
1answer
127 views

Am I a first time buyer if I own a share of my parents property?

If my parents use the land registry to add me as a 10% owner of their house, would I still qualify as a first time buyer in reference to common first time buyer mortgage schemes?