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

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3
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1answer
39 views

Is there a lower threshold for new EU VAT changes coming 1 Jan 2015 related to the sale of digital goods?

I've heard that sales of digital goods into the EU will need to have VAT charged at the customers country VAT rate from 1 Jan 2015. The seller will then need to either file a VAT return in each EU ...
0
votes
1answer
39 views

Is there a reciprocal agreement between US and UK for credit on social security taxes?

I am a UK citizen living and working in the US. When I return to the UK can I get a credit for the social security taxes I paid over many years in the US - in other words does reciprocity exist on ...
2
votes
1answer
54 views

What is a best way to take earned money from abroad to India?

I am a Indian citizen. I am going to work in UK for some years. I am looking a best way to send my earned money to india. the options are, 1) Saving the whole money in UK and get back all in a bulk, ...
2
votes
1answer
94 views

Ready to invest but I'm overwhelmed with the number of brokers and services

I have £15,000 - £20,000 to invest for the long term and I've researched what I will regularly invest in to: Pension, Index funds, Bonds, small number of individual stocks (maybe) as well as my cash ...
0
votes
1answer
34 views

What is tax form SA2002, in the UK

I am trying to rent a place in London. After providing so many forms the realtor is now asking for SA2002. I have tried searching for this but cannot find out what it is. The realtor has the attitude ...
6
votes
1answer
660 views

How do you typically pay a deposit for a house?

I am in the final stages of buying a house. My solicitor has given me bank details and requested that I send the full amount owed for the house + solicitors fees - mortgage. This totals around 120,000 ...
3
votes
2answers
125 views

Renting Out A Spare Room UK

I'm in the process of buying a two bed property and have a few friends interested in renting out the spare room. Looking into it, it seems this would be taxable income though there is the rent a room ...
1
vote
1answer
37 views

UK Citizen, Japanese Resident - where do I pay tax for royalties paid to UK bank?

I am self employed, work and reside in Japan. Most of my income gets paid vis PayPal or directly to my Japanese bank account. The exception is my Amazon royalties that can't be paid into a Japanese ...
0
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0answers
20 views

International Student in United Kingdom eligible to Invest

I am a International Student studying in London with a Tier 4 Student VISA. Am I eligible to invest in stocks, bonds or funds through brokers or banks in the United Kingdom? I tried to search Home ...
1
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1answer
125 views

How can we confirm if a telegraphic transfer has been credited to the beneficiary's account?

A while ago, I made a foreign telegraphic transfer from a bank account in Bank A to another bank account in Bank B. Bank A then sent me an 2 email; one confirming that they have received my FTT, and ...
2
votes
1answer
164 views

Ideas on how to invest a relatively small amount of British pounds

I am of European origin and I live in the U.K, studying for my Doctorate. I have managed to save an amount of money, around 5,000 pounds. I would like to ask what people here think is the best (and ...
0
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1answer
37 views

For my self assessment do I need to fill out both the Capital Gains Summary and Tax Return?

I received a documents through the post from the HMRC, a Capital Gains Summary and a Tax Return. The thing is I just want to tell them my gains/losses in shares using the Capital Gains Summary ...
2
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0answers
42 views

(UK) If i inform the Jobcentre that I am paying someone's rent, will it harm their benefits claim?

I am paying the rent for a homeless friend, and my/his rental costs are all over the shop due to poor/misunderstood information. I have given him my mobile number to pass on to the landlord so that ...
3
votes
1answer
60 views

Good trust account in the UK

We need to open a trust account for our children for some money they inherited in trust. We were warned that quite a few of the banks are quite reluctant to do this. So the main questions are: Once ...
0
votes
1answer
52 views

What taxes does a US citizen doing freelance work (self-employed) in the UK have to pay to the US government?

Currently I'm a US citizen living in the UK on a Maltese (EU) passport. While I have worked full-time for companies here in the UK, I've recently had an offer to do some freelance work for a company ...
5
votes
4answers
6k 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 ...
5
votes
1answer
589 views

Should I combine all my pension pots?

I live in the UK. I have a private pension with Scottish Widows and a University pension which is superannuated. I no longer pay into the SW pension as a legacy of money difficulties in 2010 which are ...
2
votes
2answers
77 views

Legality of facilitating currency exchange between private accounts

I have accounts in India and the UK. Similarly, a friend has an account in each country. If I am in need of some money in GBP, I could receive money in my UK account from my friend's UK account. I ...
8
votes
3answers
3k views

What happens if I make an unintentional over payment into a UK Cash ISA?

I have a UK cash ISA, but have lost track of whether I have transferred all the money that I am allowed to for this tax year. What happens if I try to top up a cash ISA, when I have already used my ...
1
vote
1answer
64 views

England: Alternative to Student Finance

I am currently considering a change of course at my current University, but as I have already just started my second year of study, I won't be entitled to one years tuition fee loan from Student ...
0
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0answers
52 views

Bringing money to UK for investment purposes

What are the tax implications on bringing money from abroad to UK for investment purposes on starting a private Ltd company (Rental business) and also for giving it is a loan to a actively running ...
2
votes
6answers
222 views

UK: Personal finance book for a twenty-something

I am interested in learning more about personal finance. I'm in my early 20's, and I recognise that now is a crucial time to form a solid financial footprint for myself. I live in the UK, but worry ...
0
votes
2answers
129 views

What is the best budgeting app you can use in the UK without a PC, in the Apple ecosystem

I'm looking for a budgeting app for someone that very, very rarely touch their PC, but have an iPad and iPhone. I love YNAB ("You need a budget"), I think it'd fit their needs perfectly, but the ...
6
votes
4answers
5k views

Is there a UK equivalent of mint.com?

I am looking for a quick online money management tool and I've read great things about Mint.com in the US. Just wondering if anybody knows of an equivalent tool in the UK? Or if mint.com will be ...
1
vote
2answers
280 views

How much should a 24 year old contribute to a pension?

Im 24 and going to set up a pension. I don't know how much to contribute. Can anyone give any advice on how much they think I should contribute? My employer doesn't offer any pension benefits and I'm ...
0
votes
0answers
32 views

What should I take into consideration when deciding whether to transfer a pension fund?

I have a pension with a previous company, and a pension with the company I am working for now. The two pensions are very similar as far as I can tell. How should I decide whether to leave the old ...
1
vote
1answer
52 views

What money is ISA interest actually calculated on?

Say at the end of year 1 I have a cash ISA with annual interest maxed out at £15,000 (I'm not certain of the exact maximum) For that year, suppose I am paid tax free interest at 2% so my balance is ...
1
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0answers
35 views

As a french tax resident, do I have to pay french capital gains tax on a UK property

I have had a UK property for 11 years (currently let out) I live in France and have been tax resident here for 6 years. If I sold the property today, would any Tax be due anywhere?
6
votes
1answer
712 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 ...
2
votes
1answer
110 views

Uk citizen working freelance for companies worldwide. Who do I pay tax to?

I'm a designer from the uk who works from home in the uk for companies here & overseas, namely the US. I've worked for a few years to these companies never with any problems, but have now been ...
0
votes
0answers
20 views

What Debtors in Current assets refers to in Abbreviated Balance Sheet?

What Debtors in Current assets refers to in Abbreviated Balance Sheet for Limited company? It's the same as Trade Debtors? Does it mean that somebody else owes the money to a company? If so, any way ...
3
votes
1answer
138 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 ...
4
votes
1answer
58 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 ...
3
votes
1answer
160 views

Do I have to pay an advisor 3% to transfer a pot of £49,000 to another pension provider?

I am looking to re-invest a stand-alone pension (originally called an AVC pension: Additional Voluntary Contributions pension) so that I can take 25% as a tax-free lump sum and retain flexibility in ...
1
vote
1answer
151 views

What is the rationale for a separate “National Insurance” tax in the UK?

In the UK there's a type of income tax called "National Insurance", similar to regular income tax. http://www.hmrc.gov.uk/ni/ What is the rationale for having this separate income tax? How does it ...
2
votes
1answer
209 views

Will it be taxable if I transfer money from UK account to India account?

I am a resident of India and currently in UK for 1 year on a work permit where I am getting salary in Pounds. My Indian salary has stopped till the time I am back in India. Now, I have a Home Loan ...
-2
votes
1answer
51 views

VAT & Tax implications of selling software

I'm having a major problem trying to find out how tax and VAT works when it comes to selling software. I believe new legislation has come in regarding how it all works. I am based in the UK and want ...
2
votes
2answers
58 views

How To Record Income As An Affiliate ( UK )

I'm registered as self employed and I now want to start a blog where I can use adverts and amazon to make a little extra cash. Now I know that I have to record anything I earn as an income but I have ...
3
votes
1answer
72 views

How are national insurance deductions calculated in the UK?

I understand that in the UK national insurance is a deduction made to your salary. I have seen this question/answer, that lists 2 very good websites that breakdown your take home pay for UK residents. ...
1
vote
3answers
78 views

Does immigrating half-way the tax year give tax benefits?

If you would immigrate in October when the tax year starts in April in the UK, would that mean you would pay less taxes? E.g. a yearly gross salary of £60k would be only £30k income in that tax year, ...
1
vote
2answers
54 views

Can I make a joint account in UK?

I am an international uni student living with a British student in UK. Due to complications in dividing money when it comes to buying groceries, we decided it would be best that we open a joint bank ...
0
votes
1answer
38 views

Is the BA Avios Visa airlines rewards card worth it?

I fly between the US and UK about twice a year - though so far I've only racked up about 16,500 Avios points with British Airways. I'm due to fly back again for Christmas and New Year. If I were to ...
3
votes
1answer
77 views

Company owners gift to employee UK

The Boss of the company I work for has just sold his company. He has now retired, but he has decided to award monetry gifts to all employees. A formula has been developed to determine a fair ...
0
votes
1answer
203 views

inheritance transfers from the world bank in uk

My girl friend says she has paid the tax on 3.6 million us dollars and is now waiting for a code of transfer from the world bank to be able to transfer funds to any account in the world. It requires ...
3
votes
3answers
105 views

UK :: Do I need to pay council tax as a student, during the summer break?

I am a full time uni student in UK. My Course ran from 2013 Sept to 2014 June and starts again in this year September. During the summer holidays, I lived in a private accommodation style property ...
8
votes
1answer
150 views

Is credit score an international thing?

I have moved from the Netherlands to the United Kingdom and credit score is a big thing here, while afaik there is no such thing in the Netherlands. Will a positive or negative credit score in the ...
0
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1answer
142 views

Can everybody affect your credit score?

I have been screwed over paying too much for my public transport a few times. The last 3 weeks they have auto topupped me with a disabled credit card, so now it evens out. I use a UK Blue Oyster Card ...
1
vote
1answer
71 views

What should i do regarding taxes if I am working full time and have a self employed 'freelance' work?

I have a fulltime work in UK and have an old business which give me some money every few months, I have my national insurance number as a full time worker, but now any money will come from my ...
4
votes
1answer
127 views

Should I exchange my Scottish pounds for English ones? [closed]

If Scotland becomes independent, is there a risk that Scottish pound notes will become less valuable than non-Scottish notes?
8
votes
3answers
187 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 ...