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

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2
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0answers
26 views

Registering as sole trader in UK although most of my work is conducted abroad/online

I would like some advice. I am a British national (not resident at present). I offer a range of language related services (translation, interpreting services, teaching, travel agent for language ...
3
votes
1answer
618 views

Personal bank account for non-resident in UK

I have just received a job offer in the UK (for a UK company) and i want to open a personal account with a UK bank to receive my salary and avoid international fees. I've read around the web about UK ...
3
votes
1answer
30 views

Ordering From UK to Base Overseas - VAT exempt?

Good afternoon, I'm currently serving the RAF Overseas in Cyprus and am looking at ordering a new laptop from PC Specialist (a UK company). My question is simple, am I eligible to buy this item ...
0
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0answers
37 views

Pros and cons accepting partial ownership of company as opposed to inheriting

My father owns property (buy to rent) and manages this through a small business in the UK. He probably has assets worth in the region of 750,000 GBP but is also still paying down the mortgages on each ...
1
vote
1answer
51 views

understand taxes when geting money from a project built long time ago plus my full time job

I have been employed full time in the UK for 1 year, I have no other side jobs and the company I am working for is paying taxes and national insurance for my salary, transferring the net salary to my ...
4
votes
1answer
302 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 ...
4
votes
1answer
35 views

UK Tax - can I claim expenses against a different tax year?

I have a day job but also a small freelance income from after-hours work. It's big enough that I have had to file a tax return for the last couple of years and pay tax on the profits left after my ...
1
vote
1answer
37 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 ...
2
votes
3answers
292 views

Which is the better strategy for buying stocks monthly?

I am planning to invest a little portion of my salary say 1000£ monthly on US & UK stocks and planning to hold on for long term. I am aware that investing in stocks might be risky compared to ...
2
votes
1answer
46 views

What year will my Gift Aid donations count as?

I made several Gift-Aided donations to charity on April 4th and received automated email receipts for each. However, April 4th was a Saturday and as I made the payments online, by debit card, they ...
4
votes
3answers
391 views

First time mortgage - process & rates

I'm looking to buy a first home in the next few months. At this point I thought I would check out the mortgage options as in my mind I'd need to have a mortgage agreed before going to look at houses. ...
4
votes
2answers
349 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 ...
7
votes
6answers
352 views

If I receive donations to keep a server running, do I need to pay any taxes?

Basically I am considering starting a game server that has optional donations for people to gain little perks. All the money donated will go towards the upkeep of the server, and any excess will go ...
2
votes
1answer
102 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
1answer
53 views

Any Drawbacks To Changing ISA

I currently have an isa that I have had for many years, the freedom of its movement has been a blessing. However I recently received notice that not only will the account no longer permit standing ...
3
votes
4answers
916 views

Do I need to insure a large check when sending via mail?

My girlfriend has a bank account that is on hold because of a stolen debit card number. She recently signed a contract for 90k but has the first check in my name for 60k. She is stuck in London for a ...
1
vote
2answers
125 views

What happens if a Financial Services Company/Stockbroker goes into administration in the UK?

In the UK the Financial Services Compensation Scheme backed by government protects savings in standard bank accounts up to £85,000 per bank. What effects might there be if a financial services ...
1
vote
2answers
51 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 ...
1
vote
4answers
67 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 ...
3
votes
1answer
81 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 ...
2
votes
1answer
206 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 ...
0
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0answers
46 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
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0answers
40 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
555 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
40 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 ...
2
votes
1answer
924 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 ...
0
votes
1answer
224 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?
9
votes
3answers
607 views

Housewife pension options

We live in the UK. I have a job and pay into a company provided pension (with the company then paying in some extra). My wife left her job a couple of years ago and is now a 'house wife' aka ...
6
votes
1answer
342 views

Shopping around for loans without detrimentally effecting credit rating/chance of getting said loan?

I've found myself stuck in a quandary. I put a deposit down on a car and I'm trying to obtain a personal loan based on this. The problem is that I'm finding that despite passing all initial checks ...
11
votes
6answers
1k 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 ...
6
votes
2answers
2k 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 ...
1
vote
2answers
161 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
5answers
608 views

As a contractor, should I overpay my mortgage or contribute to a pension?

My specific situation is:- Early 30s Software contractor via a ltd company Resident in Scotland Higher-rate taxpayer Mortgage at ~5% (variable 4.5% above BoE), LTV about 75%. I'm allowed to overpay ...
4
votes
2answers
293 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 ...
2
votes
3answers
143 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 ...
4
votes
2answers
782 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
5answers
589 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 ...
4
votes
2answers
88 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 ...
3
votes
1answer
88 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 ...
12
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). ...
5
votes
2answers
263 views

What pension options are there for a 22 year old graduate in the UK?

Following graduation last July, I've managed to save quite a significant amount of 'emergency wonga', for those rainy days or, more likely, the catastrophic end to my job. Anyway, now that I have a ...
9
votes
6answers
1k views

What should a 21 year old do with £60,000 ($91,356 USD) inheritance?

I'm turning 21 years old soon and have an inheritance coming into my control to the value of approximately £60,000. I'm full-time employed, as a Software Developer in a Financial Services company. I ...
7
votes
1answer
328 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 ...
1
vote
0answers
52 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 ...
2
votes
2answers
275 views

How is income from surveys taxed in the UK?

I'm considering doing online surveys from companies such as YouGov, that pay you for each survey you complete, but I would like to know more about how taxes work, so I've got a few questions. Are ...
1
vote
1answer
436 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?
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0answers
63 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 ...
5
votes
1answer
524 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
0answers
64 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
2answers
260 views

Tax on Money transfered to India from UK?

I'm from India came to UK on Feb 4th 2014 and I will be in UK till Sept 30th 2014. I'm earning money in Pounds, and paying tax as per UK tax policy. I could save some money which I transferred to ...