For questions that relate to the laws, practices, and products of the United Kingdom.
2
votes
1answer
578 views
What are the tax liabilities for an international transaction?
I have website for which I have set up a sponsorship scheme for (see my profile if you're interested). With this scheme, some individual or company can choose to sponsor X or Y amount and that gives ...
5
votes
5answers
450 views
Do I have to pay taxes on income from my website or profits?
I've started to generate a small amount of revenue on my website, I'm obviously tracking my income and expenses, but I'm not certain whether I need to declare this income to Inland Revenue.
Is there ...
5
votes
1answer
49 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.
3
votes
2answers
169 views
Can you use vouchers as tax free bonuses for employees in the UK?
Preface:
My brother has now worked for several large banks that have given him vouchers for bonuses (or I believe they called them prizes) for reaching targets.
Yet I can find nothing about this ...
2
votes
2answers
237 views
What is the dividend tax rate for UK stock
I had purchased some UK stocks from London Stock Exchange. May I know, what is the dividend tax rate by UK government for UK stocks, on foreign investor (I am from Malaysia)?
1
vote
1answer
394 views
Where to find a list of online U.K. stock brokers that permit trading in U.S. stock markets?
I am currently a beginner investor, in the U.K., and I would like to know what are the best online international stock brokers. That is, I wish to trade stocks that are listed on U.S. stock exchanges. ...
1
vote
1answer
92 views
Sage Instant Accounts or Quickbooks?
I am a small business, single employee IT contractor looking for accounting software to do my annual returns and vat returns in the UK.
I've researched a bit about QuickBooks and Sage Instant ...
0
votes
4answers
310 views
Is there a free, online stock screener for UK stocks?
Does anyone know if there is a free online Stock Screener for UK stocks, expecially for the companies in the FTSE100? Something similar to the Stock Screener created by Google Finance, which seems to ...
2
votes
1answer
34 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
3answers
117 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
votes
1answer
46 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
votes
3answers
126 views
Sending regular small amounts of money from Canada to UK
I live in Canada, a relative of mine lives in the U.K. I would like to know the best option for sending small amounts of money approximately once a month. I'm thinking most likely $100 to $300, but ...
4
votes
2answers
96 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 ...
8
votes
2answers
121 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 ...
0
votes
1answer
93 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 ...
1
vote
2answers
288 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 ...
3
votes
1answer
33 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 ...
5
votes
1answer
34 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 ...
4
votes
1answer
67 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.
...
8
votes
3answers
258 views
How can I protect my savings against inflation? [UK]
How can I ensure that my savings keep up with inflation, even after any tax due is taken off the returns?
1
vote
2answers
95 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
votes
1answer
46 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 ...
2
votes
0answers
139 views
Net income graphed as a function of pre-tax gross income?
Background: both as a self-employed, and with a single-person company, the relationship between amount of money made, and post-tax net income seems non-trivial. Self-employed professionals have ...
1
vote
1answer
64 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
vote
0answers
40 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
2answers
101 views
Money transfer to the U.K
Has anyone used a peer-to-peer option for sending money abroad? I pay a mortgage in the U.K. and am looking at the likes of CurrencyFair or Transferwise to exchange my Euro. Are there any hidden ...
3
votes
1answer
43 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 ...
4
votes
1answer
36 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 ...
2
votes
1answer
54 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
votes
1answer
57 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 ...
10
votes
6answers
258 views
Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades?
I've been recently looking at some of the online (electronic) foreign exchange brokerages out there, mainly out of curiosity. However, swamped by the choice, and despite having a somewhat decent idea ...
0
votes
1answer
110 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 ...
9
votes
3answers
267 views
How should we deal with money during my spouse's maternity leave?
I recently realised that my partner is more anxious than I suspected about what we're going to do about money.
Principally, she feels guilty for spending money on herself, and is worried about the ...
4
votes
1answer
97 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
62 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
votes
1answer
57 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
votes
2answers
118 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) ...
0
votes
0answers
58 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 ...
2
votes
0answers
40 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 ...
4
votes
1answer
180 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 ...
4
votes
1answer
121 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 ...
3
votes
2answers
149 views
What tax can I expect on US stocks in a UK ISA?
What are the tax implications of holding US stocks in a UK self-select trading ISA?
Ordinarily I'd expect the UK-US tax treaty to cover any taxation issues, so that I'd pay the UK rates of tax. But ...
1
vote
1answer
88 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 ...
3
votes
1answer
134 views
What is Remittance vs. Arising basis in Tax?
What is remittance and arising basis with regard to tax?
From here: http://taxaid.org.uk/situations/migrant-workernew-to-the-uk/income-from-abroad-arising-basis-vs-remittance-basis
Arising basis
...
6
votes
1answer
229 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
97 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 ...
3
votes
1answer
352 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 ...
2
votes
1answer
99 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 ...
5
votes
1answer
284 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 ...
3
votes
2answers
2k views
Are BIC and SWIFT code the same things?
I'm helping a friend with submitting an expenses claim to a US organisation we're both involved with. As the money is coming from a US bank, we can't just give them an IBAN and a BIC and be done with ...
