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

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1answer
19 views

Advice on helping younger relatives to buy a house in the UK

Younger relatives of ours would like to move to our area but it's quite expensive - they can only really afford half of a house deposit. We've just come into enough money to make that up to a full ...
0
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0answers
61 views

What usually happens to the Stock Market when it opens on Monday? [on hold]

I have a few contracts on FTSE 100 and I am wondering what a Monday morning would be like. I imagine that there will be a lot of initial movement due to all the trades that some brokers let you queue ...
-1
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2answers
77 views

Saving/ Investing a lump sum

I have recently come to a settlement agreement with my employer, to terminate my contract. As part of the agreement, I am expecting to receive a pay off in one lump sum. I do not have any immediate ...
5
votes
1answer
225 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
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1answer
61 views

Yahoo Finance - Data inconsistencies between historic and current data

I am having trouble with what seems like an inconsistency of units with Yahoo Finance API data. The issue relates to whether I'm getting the current price or historic price. The current price is ...
4
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3answers
489 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 ...
8
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4answers
2k views

Cheapest way to “wire” money in an Australian bank account to a person in England, while I'm in Laos?

A friend wired me some money when I lost my bank cards a month ago. Today I finally got my new cards and want to wire him the money back. We are both moving around the world. He was in Australia and ...
5
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1answer
1k views

Mortgage implications if I were to quit my job shortly after being approved?

I'm in a situation where I'm building my business around a regular job. As it stands the max I can borrow is about £46,000 (damn UK, I earn half of that/year!), based on my current salary. I would ...
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2answers
59 views

car insurance - 2 cars, can I have 2 separate NCD

I know that I cannot use No Claims Discount on the second car but my question will be a little bit different. I build 4 years NCB in last 4 years. But there was a moment when I bought second car. When ...
1
vote
1answer
74 views

Paying part of the mortgage before remortgaging

I am aware the exact answers to my questions below may depend on the conditions of the mortgage but I would still be grateful for some advice and pointers. Let's say I took a 2-year fixed rate ...
4
votes
3answers
94 views

Suggested ways to save for a comfortable retirment in the UK given the lifetime allowance limits on pensions?

I've heard the rumor that this March's UK Budget will lower the Lifetime Allowance (LTA) from £1M to £800k or even less. They might index this for inflation. That seems to me to be a pretty low ...
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1answer
47 views

Why Are Percentage Gains Used for Capital Gains Tax Calculations?

In the context of UK investments, I'm led to believe that encashing a general investment account (OEIC/UT) can result in a capital gains tax liability. My understanding is that when calculating this ...
2
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1answer
48 views

Is there an accepted standard for how US tax system treat UK ISAs for expats?

For US citizens living in the UK, the US tax system treats UK pension contribution and withdrawals pretty much like the UK does. Tax-free contributions, taxes due on withdrawals. Just like a ...
0
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1answer
29 views

Where can I get my unique taxpayer ref number from?

I'm already registered for self assessment, but I don't know what my UTR number is because I'm abroad for 6 months and don't have those documents with me. Since I should already have a self ...
4
votes
1answer
167 views

Estate agents faking offers on a property

I was recently viewing a property to buy in England, with an asking price of £400k. On the day of the viewing, but before my appointment, the estate agent informed me that two offers had already been ...
3
votes
3answers
143 views

Retirement Options for Income

I am in the UK and hoping to retire in a few years. I am aware that pension rules have changed recently so an annuity is now not my main option for an income - due to my age annuity would only yield ...
3
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0answers
30 views

Pension LTA (Life Time Allowance) limit criteria

I've been reading about pensions and specifically the LTA (Life Time Allowance), and after spending days reading everything anyone has to say about it, the only thing I'm sure of is that there are ...
4
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3answers
72 views

Can I open a Help To Buy ISA if I've already opened a cash ISA this year? Are all HTB ISAs Cash ISAs?

Suppose I've opened a cash ISA this tax year, and I top it up every month. It's not yet reached the yearly maximum of £15,240. As I understand it, I can't open a second cash ISA this tax year, but I ...
1
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1answer
38 views

Nationwide FlexOne internationally

I am planning a trip to Berlin, and I have seen that my debit card has no transaction fees or cash fees for foreign currency, so it is charged at VISA's exchange rate. Are there any costs I'm missing, ...
3
votes
4answers
2k 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 ...
2
votes
3answers
255 views

Buying a property for 3 years and then selling

I have recently taken on a fixed-term contract for three years, which is giving me a salary significantly higher than I am used to. After the three years, however, it is very likely that my salary ...
1
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2answers
87 views

Is there an upper limit on the amount you can pay by cheque? (UK)

Just curious, assuming I have the necessary funds in an account, is there a hard limit (technical or regulatory) to the amount you can authorise to be paid with a single cheque issued by a UK Bank? ...
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2answers
29 views

UK Resident exploring freelance work for a Swiss Company

I'm not currently registered as self-employed but have been offered a work opportunity by a Swiss Company, working from my home in the UK, on an hourly rate. How can I work and pay my NI / Tax ...
1
vote
2answers
77 views

How do I close a bank account in the UK?

I have a savings account (ISA) and current account in the UK, from when I used to live there. I now live in the US. The current account has a small overdraft line of credit and the ISA has an annual ...
8
votes
2answers
751 views

Does a US citizen freelancing for a US company while resident in the UK have to declare this for UK tax?

I am a US citizen living and working in the UK on a spousal visa. (My husband is British.) I've got the opportunity to do some freelance work for a US company on top of my full-time job, getting paid ...
0
votes
1answer
48 views

Immigrated from UK to US in 2015 ( DO I need to pay twice?)

A question regarding filing tax this year. I am a US green card holder. Until June 2015 I was working in the UK. I was on Work Visa. In June 2015 I immigrated to the US. Since then I work for a ...
5
votes
6answers
898 views

First time buyer interested in buy-to-let, bad idea?

I'm a first time buyer, living at home, on a good salary of around £25k and with no major committments. I would like to get a mortgage and get on the ladder, but I'm quite content living at home, and ...
3
votes
1answer
59 views

Am I legally allowed to offset the tax I pay on freelance work? (UK)

I am currently employed full-time in the UK as a graphic designer, I have a salary of £30K, I have also registered myself as a sole trader as I occasionally take on freelance work in my spare time ...
2
votes
2answers
168 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
839 views

Can depreciation be offset against rent of a UK income property?

In the U.S., an income property investor is allowed to depreciate a residential income property over a period of 29.5 years. Does a similar concept exist in the UK? Can a UK citizen deduct the ...
0
votes
3answers
65 views

Calculator for fixed mortgage overpayment plus regular payment

In my personal budget, I allocate a fixed amount £x per month to mortgage repayments. This amount includes a sum which is going towards overpaying the mortgage so that I can get the thing over with as ...
0
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4answers
212 views

Can rent be added to your salary when applying for a mortgage?

I'm interested to know whether mortgages in the UK are ever given by taking into account any rent that the owner may acquire, rather than simply the owner's salary. My understanding of standard ...
2
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1answer
153 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
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1answer
88 views

Can I find the name on this account [closed]

My wages got put in to the wrong account the company I worked for sent me the account number and sort code but I carnt find the name on the account is there any way of doing this
4
votes
0answers
94 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 ...
2
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1answer
78 views

What does 'Maximum load' usually mean when associated with a Bank account?

This Cashplus account has a maximum balance of £15000 and maximum load of £15000 - could you explain what maximum load means and what is the ...
-1
votes
2answers
115 views

Paying off a mortgage early

I am thinking about buying a property with a mortgage in the UK, living in it for 3 years, and then selling it. This is because at that point, I will probably be moving out of the city I am currently ...
5
votes
2answers
108 views

Contracter with day job - limited company dividends

I currently have a 'day job' as a web designer. I am considering taking on some freelance work which I have been offered and this would be completed in evening/weekends whilst also retaining my day ...
3
votes
2answers
111 views

Can I claim living remote expenses as full time employee (UK)

I'm just about to start a new job where I will be working away from home 3/4 nights a week and will be staying in a B&B for those nights. This is not something that my employer will cover which I ...
3
votes
2answers
90 views

Foreign tax credit relief UK. Tax paid or allowed by treaty?

I am registered with HMRC in the UK as a sole trader for the 2014/15 tax year. During that year I worked for a Japanese company as an employee in Japan for a few months. Looking at my payslips I have ...
4
votes
1answer
442 views

How to maximise savings?

I am in my late 20s, living in the UK, and in my third year of professional work (one year industrial placement, two years since graduating from University). I have very little in the way of monthly ...
0
votes
1answer
88 views

Transfering my wife's personal allowance - Zero tax?

According to my calculations, my annual income of 30k as a sole trader will be taxed at 0 pounds, but I'm wondering if this is wrong? 30,000 minus two personal allowance is 13,800 taxable income. ...
1
vote
1answer
31 views

Steps and timing of the SEIS investment (in the UK)

All, Assume that I am considering to invest £10K under the SEIS (Seed Enterprise Investment Scheme), on a UK startup in Jan 2016. In this case, can someone please advise the steps required and the tax ...
9
votes
2answers
621 views

Ok to use U.S. Visa gift card internationally?

My daughter received a Visa gift card for Christmas that does not contain a chip. She wants to use it when she travels to the U.K. in April. Will it be accepted?
5
votes
1answer
107 views

Is it OK for a UK company to have costs that will exceed the reserves? Insolvent now or later?

I am sole director of a limited company. The costs this year will exceed the available funds if everything was settled up. The company still has good cash in bank because it owes money to the director ...
3
votes
1answer
140 views

Why do UK banks require monthly “pay in” into current account?

Many UK banks require minimal monthly "pay in" (often 500-1500 GBP) to get interest rate payed on their current accounts. Sometimes there is a restriction that payment must come from another bank ...
4
votes
2answers
90 views

Tax situation for UK citizen working remotely in France but getting paid in GBP by a UK employer

I am a UK [and Australian] citizen. I have only lived in the UK for 9 months since Nov 2004. Apart from the 9 months in 2014, i have lived in the US for the last 7 years working for the same ...
0
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3answers
72 views

Open a UK Bank Account with Tier 2 Work VISA

I will be moving to UK (Newcastle) in February 2016 with a Tier 2 Work VISA for 5 years. I want to open my bank account before or within the first month's work so that salary can be credited. I only ...
5
votes
1answer
196 views

Pensions - Where to start? (UK)

What are the key decisions that I need to make and what key information should I know before starting a Pension in the UK? I am 24 and living in the UK. I want, well more like should, start a pension ...
8
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4answers
542 views

As a young adult, what can I be doing with my excess income?

I am a 20 year old living in the UK. I've had a look at my monthly incomings/outgoing and have realised I have approx £400-600 (~$600-$900) to spare per month, and that at the minute I'm just ...