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

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Privacy Concerns For Self Employment Taxes

I'm a UK based freelance website developer, registered as self employed and trading under my own name. I have to be honest that things haven't been going all that well recently so I'm turning my ...
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1answer
24 views

What are the tax implications on selling the Share ISA portfolio?

I am new to Stock and Share ISA investing. I am planning to make use of the New ISA limit of £15000 from this year. I am aware that the profit or loss made out of Share ISA is tax free. Does this ...
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2answers
41 views

Sole Trader or LTD, buy personal house and work from home

As Sole Trader or Limited you can claim a partial rate of your rent if the house where you live is used for business purpose. As usual everything has to be reasonable and calculated pro rata on time ...
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0answers
77 views

What type of insurance would protect you against the Amazon 1p bug?

After seeing many hobby and small businesses losing thousands of pounds due to a software bug pricing their products at 1p on Amazon I've been wondering. Is there a type of insurance that a hobby ...
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1answer
34 views

How do margins on tracker mortgages (variable rate mortages) vary over time?

One kind of mortgage, in the UK at least, is a tracker: the interest rate is equal to the central bank's base rate of interest, plus a constant margin. The margin can apply for the lifetime of the ...
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1answer
35 views

Where I am I liable for taxes?

I have a business which offers paid subscription-based access to a piece of software hosted in the cloud (i.e. the user doesn't install the software on their PC but accesses it via their web browser). ...
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2answers
65 views

What should I know about paying taxes for working from home as a new resident in the UK?

I am soon moving to the UK. (I have been a freelance web designer and developer.) What would I need to be sound in the UK and to be fit to work online as a freelancer? Will it include paying any ...
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2answers
2k views

Roughly how much more is the average salary of London compared to the north and south?

As the title states, roughly how does salary in London compare to a job in the south (say, Bristol), versus a job in the north (say, Leeds)?
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1answer
48 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 ...
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1answer
90 views

Sort Code, Account Number, but no account name

I'm trying to pay money into an account. I have the Sort Code and Account Number, but no account name. I know the company that owns the account, but I'm sure they have MANY accounts. Can I put just ...
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2answers
145 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 ...
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1answer
197 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 ...
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1answer
212 views

What will happen to my shares if company delisted

I have shares in a UK listed company called Perform Group. It's recently been the target of a buy out by a private company, and I've received the following notification: AI PG LLC (AI) has ...
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0answers
36 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. 1) Are ...
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1answer
50 views

How poor an idea is it to transfer out of an ISA before the interest is paid?

I currently have a Barclays issue 1 ISA, with around £8000 in it. I opened it in August 2014, and it pays 1.29% AER/1.28% tax free pa. At the time of opening it, I hadn't researched investments and ...
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2answers
49 views

Can/should a foreign person working overseas for a US company contribute to a 401k?

Our company (US-based) is considering hiring a foreign citizen (UK) to work for us in the UK. I believe that they CAN contribute to a 401k, but should they? Do they receive the same benefits from the ...
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1answer
98 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 ...
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2answers
393 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 ...
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0answers
17 views

UK Business Purchase from UAE

If I'm running a VAT registered business in the UK buying video game codes (non-physical products) from a company in the United Arab Emirates and selling them to customers in the UK and abroad, what ...
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1answer
90 views

In the UK what are citizens legally obliged to do (in order to not be fined)

What government stuff do you need to do in the UK? I have heard the following terms in passing: ['council tax', 'electoral register', 'tax return', 'P60', 'Jury duty'] and I am now aware that I ...
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4answers
355 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 ...
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2answers
145 views

Working out if I should be registered as self-employed in the UK

I have spent the past few evenings trying to work out what is the correct thing to do with regards to taxation in the UK for my set of circumstances. 9-5 I work for a company and am on PAYE. 5-9 I ...
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1answer
69 views

How is taxation for youtube/twitch etc monetization handled in the UK?

I am pondering putting video up on youtube with monetization (i.e. putting up adverts), or stream on twitch. However, I would like to know what the tax consequences are. I assume the income is ...
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0answers
92 views

What should I be considering, as a student with an income for one year?

I've spent a little while lurking and reading money.se, and I think I'm getting to the point where I understand roughly what's good money management practice, although I'm probably very wrong. I'm a ...
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0answers
35 views

Is my salary in UK taxable in India?

I have been moved to UK temporarily from India for 2 years. In whole 2013-2014 financial year, I am in UK and getting my salary in UK itself which is being credited in UK based bank. Will my income ...
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2answers
2k views

If I work abroad and earn money in that country, does UK tax apply to it?

If I earn income working abroad and it goes into a bank account not in the UK - say for example I was teaching english, would it be liable for uk tax? If the money went into a UK bank account would ...
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0answers
32 views

Can one get NI in UK to pay taxes without home address

Is it a requirement to have a home address in the UK in order to get NI? Can't I use virtual office's address for that matter? Would HMRC require something like proof of address which I can't provide ...
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2answers
74 views

How to calculate the potential difference of putting money into buying my house vs paying it into a pension

I've been wondering for a while if I would be better off stopping my pension payments and paying the money off my mortgage and paying it off more quickly. Then I would rent out the house and start ...
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1answer
69 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 ...
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1answer
49 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 ...
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1answer
92 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, ...
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1answer
113 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 ...
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1answer
42 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 ...
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1answer
705 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 ...
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2answers
128 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 ...
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25 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 ...
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1answer
42 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 ...
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0answers
51 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 ...
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1answer
61 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 ...
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1answer
62 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 ...
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4answers
7k 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
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1answer
598 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 ...
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2answers
80 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 ...
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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 ...
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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 ...
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6answers
250 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 ...
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2answers
139 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 ...
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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 ...
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2answers
298 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 ...
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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 ...