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

3
votes
1answer
43 views

How to deal with a scam? (UK)

Not sure if this is the best place to ask the question. It's kind of related to finances. I somehow got tangled into a scam (in my opinion) called completesavings.co.uk I found out that somehow 3 ...
2
votes
1answer
74 views

Wealth Transfer Tax in UK

I am citizen of Turkey. If I transfer my savings to UK, do I need to pay taxes to UK over this wealth transfer? I am not a resident of UK and will not live there. Just want to transfer it to a safer ...
42
votes
9answers
10k views

Why don't bond makers just get loans?

I was just looking at investment opportunities, and I found a number of places offering bonds paying up to 12% interest over two years. My first thought was, I can get a loan from my bank for 5% ...
0
votes
0answers
23 views

Australian with investments home now living in the UK

I'm an Australian living in the UK. I've been here for about 3 years. Recently, I have moved most of my Australian savings into a Vanguard Index fund in Australia last year. I am planning on staying ...
3
votes
1answer
89 views

(UK) Is pension provider obliged to confirm opt out

(Question is in context of UK only) Background Government is currently phasing in an auto-enrollement for private penions. Employers must automatically enroll employeess onto private pension scheme. ...
0
votes
1answer
43 views

Should the difference between taxable pay and gross pay be roughly equal to pension contributions

I am in the UK. My employeer changed payroll provider and ever since there has been many issues. With my old provider the difference between taxible pay and gross pay was almost exactly the pension ...
1
vote
2answers
89 views

Does it make sense to invest Limited Company's cash that does nothing otherwise? (UK)

I am a contractor working in the UK and I own a limited company here. I briefly spoke with an accountancy about investing my company's cash although I haven't followed the topic with them. The answer ...
2
votes
0answers
40 views

Will I need to pay tax on my foreign income on my return to the UK if I have spent a total of15 months out of the country? (August 2017-October2018)

I am looking to return to the UK from the UAE October this year. I will have been away from the UK for 15months in total and whilst I have been away I have been counted as a non uk resident as I am ...
0
votes
1answer
43 views

eToro vs interactive investor [on hold]

I live in the UK and would be interested to learn investing online. I've yet to discover my style but I'd prefer to invest longer term based on international/sector macros. So far I only know a few ...
1
vote
1answer
35 views

Help in understanding the limitations of new ISA opening/transfers

Apologies for a non-specific question - I found it impossible to express it within the 150 character limit. I have paid some money to my old Cash ISA this year already. I want to open a new one and ...
2
votes
1answer
48 views

UK Contractor (Limited company) - How to manage payroll when still deciding annual salary

I'm a director of a UK limited company and working as a contractor, and my contract is due to end in December. For the rest of the tax year I still don't know whether I'll then start a new contract ...
4
votes
0answers
61 views

Having worked overseas and accrued a pension, can I transfer it to my country of origin?

As a Brit who worked in South Africa for a few years and accrued a pension, now I've returned is it possible to transfer said pension tax-free to a UK pension provider (SIPP or otherwise)?
0
votes
1answer
29 views

Interest on community shares - tax return

I invested in a community project under the Seed Enterprise Investment Scheme. In the year I invested I claimed SEIS tax relief on the investment. In return for my investment I received shares in the ...
1
vote
0answers
32 views

Can I open a Help to Buy ISA, transferring a part of my existing Cash ISA, if I paid a small sum of money into that Cash ISA in this tax year?

I am aware that opening a new Help to Buy ISA is not possible when subscribing to another Cash ISA in the same cash year. On the other hand I've read that ISA transfers are not subject to this limit ...
2
votes
1answer
71 views

As a director of a limited company in the UK, can I have multiple business bank accounts?

I am a director of a limited company in the UK. I live here and sell my services within the UK. If a bank goes bust, by law, a bank has to protect my deposits to up to £85k. Can I have multiple ...
2
votes
3answers
101 views

Types of brokers for differing uses

I'm from the UK and want to make some long term investments in US stock. I also want to day / swing trade. So I've opened an account with tradestation which seems complicated to use and offers ...
3
votes
1answer
54 views

UK Tax Return: how to compile it if I have restricted equity granted by my employer

This year I will have to compile my first tax return. I have received the equivalent of 5,000 GBP in restricted stock of the Company I work for. I have already sold these shares and I know that I ...
0
votes
1answer
58 views

UK Contractor (Limited company) - EPS or FPS, late submission

To introduce my case briefly, I have been a contractor for two years within a company. For that, two years ago I hired an accountant who dealt with the creation of a Limited Company which was ...
1
vote
0answers
13 views

UK tax on dividends and sale of Shares for Non-residents

For a Non-UK Resident Individual (& Non-domiciled,) holding UK listed shares 1.) Is there any UK income tax due on dividends paid form a UK listed company? 2.) Is there any UK capital gains tax ...
6
votes
1answer
135 views

Selling a car with outstanding finance in the UK

I have a car which has outstanding finance. BMW have given me a settlement figure of £15,000. A buyer is interested in buying the car for £13,000. The buyer would like to pay BMW directly using my ...
2
votes
1answer
106 views

UK - check if too much tax has been paid

I currently live in the UK, after I graduated with a Bachelor's degree a few weeks ago. Both this summer and the previous summer I have been employed by the university as a Research Assistant. The ...
1
vote
2answers
84 views

Fraudulent transaction/Wrong bene name, correct IBAN&BIC.

I was reading a news telling a fraud case of international payments. What happened was that the person was told to pay to an account, which IBAN and BIC was provided, however the beneficiary name was ...
1
vote
1answer
106 views

How can I legally sell this property abroad?

I have a property in Bangladesh worth around £500k. I built this property legally many years ago however I moved to the UK around 18 years ago. When I moved, I had changed my name legally meaning ...
3
votes
1answer
195 views

Credit card transaction still not shown after 10 days. Does it time out? Is it my luck?

Ten days ago, I paid for food on a train. I paid by credit card, signed the receipt (old style), and received my food. So far so good. On my online statement, this transaction does not show ten ...
0
votes
0answers
20 views

uk national, self-employed but working overseas

I am a UK national but currently non-resident from the UK, having worked for the past 4.5 years in a non-EU/EEA country for a German company. Prior to that I worked for 4 years as PAYE in the UK and ...
7
votes
1answer
90 views

Do I have to disclose overseas income that's below my personal tax allowance

There was a section on BBC Radio 4 Money Box recently about the dire consequences of not disclosing overseas income to HMRC before their "amnesty" runs out in September. The details are on the HMRC ...
4
votes
3answers
274 views

First time buyer unsure on which mortgage to go for

My husband and I are first time buyers are are looking at mortgage options but I'm unsure which option is preferable. We only have a 5% deposit so are being hit with not great interest rates. Our ...
4
votes
0answers
48 views

Tax question - Inheritance from UK living in USA

I am a Green Card resident in Nebraska USA, and I am a UK citizen. Is it correct that I need to report to the USA Government if I inherit more than $10,000 from my father’s Will (he too was a UK ...
3
votes
2answers
133 views

In the UK is it illegal for banks to open current accounts for non-residents/tourists?

To phrase it another way, if a Singaporean tourist walks into a MetroBank or HSBC branch in London, would the bank be allowed by the FCA to open a current account (at the branch managers discretion ...
5
votes
1answer
409 views

How should I calculate property value at remortgage?

Purchased a house (in the UK) with a 2 year fixed mortgage. When it comes to remortgaging, how is the property value calculated? Can I have any input into this, or is it done on "drive-by valuation"? ...
7
votes
1answer
312 views

With regards to a national insurance refund, what is my Work or Clock number?

So i got a letter from hmrc (UK tax) letting me know I'm due for a refund, and on one of the bits I need to fill out it asks me for my "Work or Clock number" for each job I've had during the tax year. ...
1
vote
1answer
80 views

MiscAdvice or feedback about Uk Student Loan Repayments from overseas

UPDATE: The Student Loan Company got back to me, and they were very understanding about the miscommunication. No back payments, no other penalties or demands. I have been living in Japan for 5 years....
1
vote
1answer
303 views

My credit limit was raised without my asking, will this affect my credit rating?

I am a resident of Scotland, and have a credit card issued by my bank in my name only. I recently received a letter stating: Your credit limit is increasing We have good news for you. We ...
2
votes
0answers
64 views

Difference between member and shareholder of a residential management company in the UK

My wife and I are joint lessees of a flat within a block, in the UK. There is a management company responsible for managing the common areas within the block. The lease requires the lessee to apply ...
6
votes
1answer
96 views

If I'm voluntarily VAT registered, but under the threshold, do I have to charge vat?

Suppose I'm voluntarily VAT registered in the UK. But my turnover is less than £85k. Do I have to charge my customers VAT on my products and services? Put another way, in such circumstances am I only ...
5
votes
0answers
47 views

Will Poland tax my SIPP?

I am UK resident for tax purposes and have a SIPP. If I become resident in Poland for tax purposes then will Poland tax my SIPP? If so then in what way? My SIPP holds a single fund which does not pay ...
1
vote
1answer
195 views

Android Developer

I am in the UK. I am signing up to be an Android developer. I am going to have some In App Purchases in my program. This means I need a Merchant Account with them. We have a limited company which ...
0
votes
1answer
27 views

Option/stock trading account for uk resident on US markets [closed]

I want to trade US stock and options and was wondering if I should be looking for a broker based in the US vs a broker in the UK. This way I would transfer currency to dollar. Also I believe there are ...
1
vote
0answers
33 views

UK: National Insurance on employee loans when there is no interest benefit

HMRC states that you have to report on a P11D and pay Class 1A National Insurance on the value of any benefit when a 'beneficial loan' is made to an employee. https://www.gov.uk/expenses-and-benefits-...
3
votes
1answer
182 views

Does it make sense to invest in multiple index funds?

The UK based investor here. I haven't found anything under "Multiple index funds" search criteria thus decided to give it a go, if there is already a similar question/answer would love to get a link. ...
0
votes
1answer
91 views

As a landlord Moving into as lodger of the tenant, in UK [complicated scenario] [closed]

I would like to check on one scenario. We've rented out a flat that we own (and we have a residential mortgage on) through an Assured Shorthold Tenancy, via an agent. Now as our situation has ...
2
votes
1answer
86 views

UK bond yield below inflation rate means negative ROI likely if held until maturity?

Current UK bonds have nominal interest rates well below the current inflation rate, even the long-term ones. If we assume that, on average, the inflation rate remains the same or rises, and the bonds ...
3
votes
1answer
118 views

I make monthly payments into one ISA, does that mean that I can't pay into my other one in same year?

I was just reading that (in the UK) you can only pay into one of your owned ISAs per year. I have a Help To Buy ISA and a separate Stocks & Shares ISA. I pay the maximum contribution of £200 into ...
3
votes
1answer
199 views

What paperwork is needed when receiving salary through the cryptocurrencies?

Supposedly I got a short-term software engineering remote contract which was agreed to be paid by the cryptocurrencies or tokens on the task-basis (e.g. receiving a certain amount of EOS tokens for ...
2
votes
3answers
230 views

Diversification in practice: Choosing a couple of index funds (UK)

I am a newbie investor and just've opened my first trading account although haven't invested in anything yet. I want to invest solely in index funds. In the book "A Random Walk Down Wall Street" at ...
3
votes
1answer
237 views

How to handle surprise debt mostly comprising bank charges

I left the UK back in 2012 and had an open account with one of the high street banks. Two years ago (and unknown to me) this account was 60 pounds over-drawn (facility was for about 300 pounds). I ...
2
votes
1answer
106 views

Regarding Tax deductions [closed]

I have moved to UK on 10th Feb 2018. And Tax amount around £1300 has been deducted for months Feb and March because I didn’t have NI number for first 2 months and also it was end of financial year. my ...
0
votes
2answers
147 views

Investing 11 grand as a Uni Student

I am currently 18 years old and from part-time work have saved up approximately £11,000. I am soon going to University (Scotland) (no tuition or accommodation costs). I generally have poor control ...
6
votes
0answers
79 views

Investing proceeds from foreign vacation home sale

We bought a vacation home in the UK in 2006 for 182000 pounds, including purchase price, closing costs and improvements, when the pound was stronger ($1.8/pound), and wired $327000 directly to the UK ...
2
votes
0answers
52 views

Property and investments in the UK but living in Australia what tax is due?

We are thinking of emigrating to Australia. We have a property in the UK that we wish to rent and we have some investments. This income would arise in the UK. But living in Australia would mean we ...