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

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2
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2answers
583 views

As director, 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)?
2
votes
1answer
22 views

How should accumulation type units in unit-trusts/OEICs held outside of an ISA/SIPP be handled for tax?

If I hold income type units (call them "INC") of a fund (or investment trust shares or regular equities for that matter) outside of an ISA/SIPP wrapper, it's obvious enough how to fill in a tax return:...
0
votes
1answer
11 views

Transfer funds from UK to India - Is it taxable in India as well

One of my Relative who was Resident in UK. He expired recently. Since he had a Fixed Deposit,Hence can I transfer it to my Savings account in India. As the value is huge 10 million. Please let me ...
0
votes
1answer
50 views

Resign my job - can I claim tax return? how to claim pension contribution?

I am working as a postdoc in UK, resigning job and returning home. In that case can I claim any tax back? I paid pension contributions. How to claim that back? What else I need to take care of ...
3
votes
0answers
30 views

Jersey UK pension

Please can you help this elderly entity. I have a Jersey OAP Pension which was due for commencement in November 2013. The States of Jersey were informed of my UK address in the past but the Service ...
1
vote
0answers
16 views

Tax implications of share transfer to family member between UK and Australia

What are the tax implications of an Australian residing in Australia working as a director on a board of a small private UK company transferring shares to a family member in Australia. The shares ...
0
votes
1answer
84 views

renting company houses room as director

I have limited company in UK, and I d like to buy a house on companies name and rent one room of three to my self(director). what are the complications about these kind of things, lets assume house ...
22
votes
4answers
6k views

Can you explain why these items are considered negatives on my credit report?

I just used 'Clear Score' to find out my credit rating. My score is higher than both the national and local averages, but there are 2 'negative' results shown. Negative (2) Your oldest active ...
6
votes
1answer
82 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 ...
1
vote
1answer
201 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 ...
0
votes
1answer
26 views

Is research prize from Italy taxable in the UK for a non-domicile resident?

I feel it's a complicated wording question. I am an international student studying in the UK as a PhD student. I received a research prize from an Italian academic society for training purposes (I ...
1
vote
0answers
32 views

How can my friend in the uk buy me a gift card that will work for me in the u.s [closed]

My friend wants to give me a visa or equalivilent gift card. She lives in the u.k. I live in the u.s. How do we get a card to me from there that will work?
1
vote
0answers
54 views

Salary and taxes for first time workers [duplicate]

I'm really hoping you could help me understand the taxes and what will be my net salary. I've started to work for the first time in the UK on May the 9th 2016. My income will be 26000/year (gross). I'...
2
votes
1answer
184 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 ...
2
votes
1answer
211 views

How is possible for a prepaid credit card to help your credit score?

My brother is moving to the UK next month, he has no history in this country as he has been born abroad and never lived in the UK in spite of being a British citizen. I would like to help him build ...
10
votes
5answers
2k views

In layman's terms, what is balance transfer?

I know very little about my credit cards, all I know is that I make sure to do the minimum payments on time. Some suggested that I do balance transfer? What is that suppose to mean? Can someone pay ...
1
vote
1answer
46 views

Repatriate NRE account money into UK GBP account tax laibility

I am resident in UK and have a NRE account where I keep depositing my earnings (for which I have already paid tax in UK) From NRE account, I can repatriate money. I.E. get it converted to pounds ...
4
votes
2answers
106 views

Why is UK National Insurance calculated weekly?

In the UK and many other countries, there is a threshold below which no income tax is paid. It is an annual threshold so that you don't pay any income tax if your total earnings are below it in any ...
27
votes
5answers
6k views

Why would someone who thought they will work until they die contribute to a pension plan?

One of the shocking graphs going round at the moment is from many millennials expect to work until they die: Now I'm a UK millennial who wants to retire early, however if I did think I were going ...
4
votes
1answer
139 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 ...
6
votes
6answers
710 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 ...
3
votes
1answer
100 views

How can I be sure I will receive all of my pension payments when I have worked for many employers?

Most people will work for many employers in their lifetime. In the UK, your employer contributes to your pension. My question is, when I come to retire how can I be guaranteed to have access to all ...
4
votes
2answers
142 views

Should a joint credit card be cancelled upon the death of the person named on the card?

This is specifically about credit cards issued within the UK. A little over 2 years ago, my father died, at the time of his death, my parents had joint credit cards (or, credit cards linked to a ...
1
vote
0answers
28 views

What's the simplest, cheapest way to reproduce the WMA private investor indices's “income index”?

I'm aware that some discretionary wealth management and advisor types use the WMA private investor indices as a benchmark and as a guideline for asset allocation. I'm interested in what the simplest, ...
1
vote
1answer
48 views

What can I do to remedy ISA cash/shares transfer latency?

I discovered recently that in the UK, money deposited in a cash ISA could be transferred to a stock ISA and vice versa. Of course the sum invested in cash + stock is constant (there is a yearly ...
0
votes
1answer
52 views

Sending more that 10K USD to UK Business Account

I have my brother who lives in USA, he wants to send around USD 10000 to UK onto my Business Account Via Wire transfer through Bank to bank for Loan Purposes. My brother is worried as in US a ...
4
votes
1answer
1k views

Can I put my personal loan into my savings account until I use it all?

We applied for a personal loan of a value that we know we have to use over a few months. Can I put it in my savings account or an ISA account until we use it all? I live in the UK. Thanks.
3
votes
1answer
28 views

How does cash ISA & share ISA mix together

I am trying to understand the ISA concept in the UK. I think I understand cash and share ISA separately but I do not know how they mix together. Right now I have on a cash ISA 15K£+15K£ (Y-1+Y0). ...
1
vote
1answer
45 views

First year partnership - no trade tax return

A friend and I registered a partnership last year (June 2015) with the intention of running alongside current employment. However due to circumstances and time we have not actually done any business (...
3
votes
1answer
69 views

What does HMRC (the UK tax agency) view as valid expenses for travel?

I understand that any expenses must be wholly for business purposes, so that means normal eating doesn't count, it has to be outside the usual pattern of business. However there seem to be a lot of ...
2
votes
0answers
23 views

Tax return if worked partially in the UK and partially in Germany

I have worked from Jan to July 2015 in the UK and from Oct. to Dec. 2015 in Germany. I'm not sure if it makes sense for me to submit a tax return claim. (The tax year in the UK runs from April to ...
1
vote
1answer
64 views

Saving in foreign currencies

I live in the UK and am looking at opening a USD account. The primary reason for this is that I work for an American company whose employee share plan deals in USD, so it is required for that. However,...
0
votes
0answers
36 views

Property investment in UK, France and Switzerland pros and cons

What's the difference (pros & cons) of buying 1st property for residency or investment between UK, France and Switzerland in terms of: Taxes Average rates Incomes Others ... Thanks!
1
vote
1answer
50 views

Where do I pay tax - UK or Malta?

I'm a UK company director but am considering a move to Malta where I will become resident and work remotely, with occasional visits back to the UK. My wages (and dividends) will be paid into a UK bank ...
3
votes
2answers
124 views

Will a British bank accept a twice-endorsed cheque?

I am an American citizen, living in the U.S., and I've been sent a small refund from a UK vendor in the form of a cheque drawn on the Bank of Scotland and made out to me. My bank will charge $23 to ...
2
votes
3answers
167 views

Easiest way to diversify savings

Finance has always been a bit of a black art beyond current and savings accounts, so I'm hoping this makes sense. In light of the possibility of Britain leaving the EU (that isn't the actual reason, ...
4
votes
5answers
566 views

I am a contractor with revenue below UK's VAT threshold. Should I register for VAT?

I am an IT contractor based in London. I understand that there is a threshold for VAT of £73,000. In my current business, I have not exceeded that threshold as of yet but expect to within the ...
4
votes
3answers
184 views

How do gold sovereign coins compare to other gold investments? [UK]

I'm starting with the assumption that gold is sometimes useful for diversifying risk, responding to economic instability, or generally commodity trading. That stated, there are obviously different ...
4
votes
5answers
14k views

How do I make a one of payment to my HSBC credit card bill with a HSBC debit card UK

I need to pay my HSBC credit card bill with a HSBC debit card and I can't transfer money between accounts (it doesn't show up on the list of accounts). When I click on the direct debit details it says ...
6
votes
3answers
342 views

When should I schedule direct debits?

I am going to start a new job soon where I will be go from being paid weekly to monthly. I have several direct debits that come out of my account all through the month. I would like to reschedule ...
3
votes
1answer
90 views

How does payment of interest work when an account has a maximum balance?

I am considering opening a new savings account with the building society with which I have my current account. (For completeness, I am in the UK, the building society is Nationwide, and the savings ...
9
votes
1answer
234 views

How is road warrior's income taxed?

One UK tech company is offering me to work for them (ie. be on their UK payroll). I am citizen of Estonia. Since, in this job I will travel every 3 or so months between different countries (as in ...
0
votes
1answer
47 views

Notice period calculation as an employee in the UK [closed]

As an employee I have a notice period of one week. If I hand in my notice on Wednesday, will my last day at work be the next Wednesday? Or the next Tuesday?
1
vote
0answers
99 views

International Stockbroker

I live in Australia, but have shares in the UK. I inherited the shares so have no experience in buying/selling. How do I find a stockbroker who could sell the shares for me? My father left me several ...
2
votes
0answers
55 views

Can you pay yourself with interest from your director's loan in the UK?

With the Chancellor's scrapping of dividend tax credits, the effective marginal rate for being paid in dividends from a limited company has now gone from 20% to 26% for lower rate tax payers, and from ...
4
votes
0answers
184 views

Historic variation in FTSE100 total market capitalization as a proportion of the FTSEAllShare total market cap?

Many years ago (in ~2000, give or take a year?) I remember seeing some discussions on The Motley Fool UK's forums about how much more diversification investing in an FTSE-AllShare tracker instead of ...
0
votes
1answer
31 views

Do shares purchased on FTSE AIM move with company to other markets?

I've struggled to find an answer for this so apologies if there is one easily found out there. At the moment I'm looking at potential investments in the FTSE AIM market, I've read a lot about how ...
1
vote
1answer
131 views

Historically how do share prices perform after mass selling after an employee reward scheme?

Tesco in the UK are about to award a 5% turn around bonus in shares to their staff with the option of keeping them or selling them straight away. It's likely most of the employees will sell them ...
3
votes
1answer
93 views

How is my [UK] bank calculating mortgage porting affordability?

I have had a mortgage with my bank for ten years now, and want to move. I have phoned them a few times to ask about what I can afford, but each time the answer confuses me, and when I ask how they ...
3
votes
3answers
158 views

How to minimise the risk of a reduction in purchase power in case of Brexit for money held in a bank account?

With the Brexit referendum looming, one of the foreseen consequences in case Britain leaves the EU is a diminished purchase power for the British Pound Sterling. What would be the best way to ...