Questions tagged [united-kingdom]

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

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5
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0answers
62 views

What to expect from subsidence repairs

Our house is being damaged by subsidence. The insurer agrees and has accepted liability (actually, passed it on to a specialist third party). At present they are monitoring the situation and ...
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1answer
119 views

Lack of transparency in house buying process between buyer, agent, and seller

I'm in the process of buying a house. I have put in an offer on a house. The agent says he is waiting for other offers. He could come back to me and say someone else has put in X amount above asking ...
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Money Transfer to UK

I bought a holiday apartment in Goa some years ago. I had an NRI account. The bank then changed it to an NRO savings account. I sold it three years ago and the money was paid into this account. I wish ...
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0answers
33 views

Opening a new UK bank account as a european worker [closed]

I will probably start to work in the UK soon (a couple of months) and I was starting to look for bank account to open. I have a couple of bank accounts in Italy and I will probably keep them, but I ...
4
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1answer
157 views

What are my options for storing a large amount of money for less than one year? [duplicate]

We've just sold our house. We had been planning on buying another immediately, but our purchase fell through and we have now moved into a rental. Consequently, we have >£100k of cash on hand and ...
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1answer
73 views

UK ISA buying US stocks

I was wondering how stamp duty and tax works with buying and selling international stocks e.g. US companies. I currently don't get charged stamp duty when buying US stocks with my broker and have not ...
2
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1answer
93 views

UK Stamp Duty - corona virus changes

I am about to buy my first house in UK with my girlfriend (price is £250,000) I also own a house in Poland, that my dad gave me in his will (its value is over £40,000) Recently it was announced in UK, ...
29
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4answers
8k views

Tips on making a best and final offer

Me and one other buyer have been asked to make our best and final offers on a house after us both making initial offers. I believe I am in a good position as stated here and I will reiterate this to ...
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0answers
43 views

Income tax rules when spouses are tax residents for different countries (specifically France and UK)

I know tax laws are country specific and in case of spouses living in two separate countries they may depend on the specific countries due to tax treaties so my question cannot be asked in all ...
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0answers
25 views

US Tax treatment of dividends from single member consulting firm, a UK Private Limited Company

US citizen in UK has a salary from one firm which includes National Insurance withholding, and also owns a UK Private Limited Company to which client payments are made for his consulting work. UK tax ...
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2answers
891 views

How to get an offer on a house accepted?

I really like a house and I am prepared to put in an offer at the asking price. I think this is a good price for this house considering the current value of houses in this area and from my personal ...
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1answer
116 views

Wiill banks refuse my application for a current account if I don't pay a salary in?

I want to apply for a second current account to put funds into and also for some perks that they have (I don't want any interest due to religious reasons). But my salary will not be going into this ...
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2answers
103 views

Do I have to declare an income below my Personal Allowance?

I'm in the UK and planning to start a side business. The income from my current job doesn't exceed my tax-free Personal Allowance of £12,500 a year, nor do I currently expect the income from this ...
3
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1answer
78 views

Cash ISA restrictions in the UK

I'm trying to understand the restrictions on putting money into cash ISAs in the UK. Currently, the government homepage says "Every tax year you can put money into one of each kind of ISA. The ...
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1answer
29 views

How to declare taxes as a UK contractor working remotely for a US company

I'm a resident of the United Kingdom, and I work remotely for a US company. I have a contract, and I get paid monthly, but I choose my own hours, usually working about 20 hours a week. I provided a W8-...
5
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3answers
306 views

Purchasing a house with parent-in-law's money, temporarily [duplicate]

Say I am about to purchase a £200,000 house (moving house, rather than first-time buyer), and can get a mortgage for the £120,000 difference I need. But, my parents-in-law have offered to loan us the £...
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0answers
72 views

The best/cheapest way to get money from Moldova to pay bills in UK

I would like to withdraw money from my foreign account outside Europe (Chișinău (Moldova)) and deposit it in a UK bank account, as it has become clear I will be staying in the UK for a longer time ...
5
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0answers
45 views

UK Employer Pension - can I transfer *part* to a private pension?

I'm employed by a large UK company (actually an American company, but the subsidiary). I have a (I think relatively standard) employer-provided money purchase pension, which I've been paying into for ...
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3answers
1k views

Are traditional pensions still optimal in the 21st century? [closed]

I have long had an issue with traditional pensions, I searched around and found some people at least seem to share some similar thoughts. In short, my concerns are: Too restrictive (you can't use the ...
3
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1answer
131 views

UK Cash Gift Amount

My grandparents are gifting me £7000 towards the cost of buying my first home. Depending on the price of the house I buy, this will probably go towards the deposit, fees associated with buying a house ...
3
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2answers
94 views

UK Capital gains tax

If I invest £100,000 in the stock market, and assume, for the sake of argument, they rise in price 100% in a year. I then sell £24,600 worth in the subsequent year. I haven't used any of my UK capital ...
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0answers
28 views

Living in France while remote working for a UK company

I'm planning to move to France but I will still be employed by a UK company. According to the HMRC website, my taxes will be payable in the UK but I read on an old forum that the French authorities ...
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0answers
39 views

Name variation on credit report in the UK, reason for concern?

I have three surnames, so my full legal name is generally written here (HMRC, DVLA, passport, pay slips) as: Forename Surname#1 Surname#2 Surname#3 I pulled my credit report and my current account ...
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1answer
346 views

How does this Amazon Prime scam work?

It happened to me and to one relative: We both got a phone call that a payment of £79 for Amazon Prime would be taken from our credit card account. We both haven't subscribed to Amazon Prime, and both ...
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0answers
19 views

India to UK bank transfers

Is a UK passport holder with an Indian bank account in Kolkata, allowed to transfer money to their son's UK bank account as a gift. He is a UK passport holder. Thank you
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1answer
257 views

Forced closure of retirement fund: Best use of lump sum

I have been working in Australia for several years, with a temporary residence visa. I expect to soon be returning to my home country (UK). At this point, my superannuation account will be closed, ...
5
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1answer
285 views

Do I need to get a mortgage when using the Lifetime ISA?

I am using the Lifetime ISA and was wondering if it's possible to use the money to buy a first home without getting a mortgage at all. For example, if I have enough money in the LISA, perhaps together ...
3
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1answer
81 views

Getting money transferred from abroad from my parents, would I get taxed?

I'm originally from Japan but living in the UK permanently on spouse visa now. My parents transfer money from Japan to my British bank every now and then like £8000 every year as a gift, does this ...
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2answers
38 views

IT Contractor Working for UK Client

How does an IT contractor provide consulting services from India to a UK Client? Do we need to open a IT Services Private Limited Company in India or are there other options, also helpful on how much ...
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0answers
33 views

Have changes to mortgage standard variable rates ever diverged much from changes to base rate?

Historically, although SVRs tend to be a few percent above base rate, has any lender's SVR ever made a drastic change that wasn't caused by a change in base rate? This is in the context of risk of ...
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0answers
52 views

UK first-time home buyer government programs - ISA

I am currently looking for my first house to buy. I looked at https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/, The Help to Buy ISA had been closed to new accounts at midnight on 30 ...
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0answers
25 views

Consumer Contracts Regulations (2013): Returns and Exemptions

This question is regarding the Consumer Contract Regulations (2013) in UK law. I have chosen to post on here, rather than law.SE, since my question is regarding monetary refunds for items purchased. ...
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9answers
7k views

Should I buy a nicer house in a worse area for less than I budgeted?

I am a single male in my mid twenties, based in the UK and looking to buy my first home. I see this home as a 'stepping stone' home and intend to live in it for 5-15 years until I get a partner and ...
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0answers
36 views

Selling an unsettled trade?

Here is my scenario. I purchased shares via my online broker in a placing. I never received a placing document or signed an order, my online broekr signed for me. The Trade date was 17th June ...
3
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3answers
288 views

Should I tell my landlord that I am considering not renewing?

My lease is up for renewal in the not so distant future. My landlord recently contacted me to say they want to increase my rent by 2%. Which is not itself much, but the rent was already pretty high. I ...
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1answer
116 views

Questions on Index fund dividends

I wanted to ask a few questions regarding Index funds and its dividends. The questions are the following: If I decided to invest 10k into an Index fund and contribute monthly around 100-200 and ...
4
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1answer
86 views

Refund to Different Payment Card in UK

I'm in the UK. I bought something online from Debenhams, and want to return it -- it is within the return period; no problems there. However, I no longer use the card that it was bought on. Is the ...
2
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0answers
28 views

Tax taking out pension exceptional circumstances (UK)

I used to live overseas where I had a private pension pot. Due to covid19 exceptional circumstamnces, the country has allowed to take out 25% which I've just received in my UK bank account. How this ...
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2answers
160 views

For a risk-averse investor, is it ever justifiable to invest in real estate over an index fund?

Let's say I have a chunk of cash sufficient to cover a 50% down payment on an average house (£600k). Or, buy an inexpensive house outright. Let's also say I must use the money for real estate—I cannot ...
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0answers
60 views

Starting a side business whilst full time employed

I'm currently employed full-time in a regular job, and pay income tax at the higher rate. I'm looking at setting up a very small side business which may make around £500-£1000 at the moment. I'm ...
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0answers
69 views

How can I get the best income from letting out a Large Garage in Hertfordshire, England [closed]

I have a large garage space in Hertfordshire, England (13.6 metres long by 4.7 metres wide) with its own drive and entrance. Any ideas how I can maximise income from this by letting it out. I will ...
4
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1answer
155 views

Do US delivery companies pay out insurance if the declared value of a package is $0?

I'm in the UK and about 6 months ago I sent some sports cards to a friend of mine in the US to get professionally graded through PSA✝. This took a while due to the pandemic, but PSA has now returned ...
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0answers
40 views

UK Student Loan Plan 1 overseas repayment

I moved to the states sometime ago and made a mistake in ignoring the fact I had a few thousand left on my UK student loan, I thought I could just log on and pay off the balance in full as soon as I ...
3
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1answer
60 views

Report interest to HMRC - less than personal savings allowance

[UK] Do I need to report to HMRC if I earn less than £1,000 (personal savings allowance (PSA) basic rate taxpayer) in interest? I also have CGT of less than £12,000.
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2answers
63 views

When a company buys property, can it reduce tax to the point of achieving a net gain?

"‘Our main priority is to highlight the large number of empty buildings in London and to try to ensure they don’t go to waste when there are so many homeless people,’ Jed Miller, one of the anarchists ...
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1answer
133 views

If you want to buy a house but you also think value will drop… is there something you can do to alleviate the risk?

Disclaimer: yours won't be fiscal advice. People involved will consult a professional before doing anything. This is just to gather some preliminary information. Situation: you want to buy a house ...
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0answers
81 views

Tax implications surrounding self-employment/startup of US citizen in UK

For a US citizen residing in the UK, what are the major considerations and pitfalls to consider before starting a business (online)? Does it matter whether the business would cater almost exclusively ...
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1answer
107 views

Crypto-cashback debit card tax (UK)

I have a pre-paid VISA card with a 2% cashback paid in cryptocurrency in every purchase. I was wondering how this is taxed?
8
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1answer
92 views

I have two citizenships, a different coutry of residence and I'm studying abroad. Where do I pay taxes?

Background I have dual citizenship, Italian and Belgian My permanent residence is in (mainland) Spain I'm studying at a university in the UK (specifically, Scotland) Question I recently started to ...
3
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2answers
88 views

If I donate something to charity can I claim tax back based the price in £ I originally paid for it?

Or can I only get back what the charity can sell it for? What if they use it rather than sell it ie donating old furniture to a shelter or an old TV assuming I still have the receipt or even bigger ...

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