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Questions tagged [united-kingdom]

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

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1answer
30 views

Are there any other benefits to exercising EMI stock options straight away vs. as late as possible? (UK)

Once my options vest, according to the EMI scheme I have ten years to exercise them. I'm weighing up the pros and cons of exercising exactly at the point they vest versus leaving it to the last ...
0
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1answer
39 views

Short term health insurance for a non-citizen US resident

I'm a UK citizen who moved to the US (California) a few years ago with a Green Card. This year I decided to move back home, so I quit my job and started freelancing, so I have an ongoing income source ...
4
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2answers
145 views

Is there a financial product via which I can safely temporarily borrow against my home?

We live in the UK, and are seeking to move house and have seen a property which suits our requirements and has been discounted because the owners wish to sell quickly. The asking price is £400,000. ...
2
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1answer
176 views

Understanding UK Gilt

I have been reading about UK Gilt and have some questions understanding it. For instance, the TREASURY 3,3/4% 2019 Gilt has a coupon of 3.75%. The maturity date is September 7th 2019. Interest is ...
2
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1answer
137 views

Does the UK life time ISA bonus increase with inflation?

If I contribute £4k, the government will contribute a £1k bonus. If in 5 years £4.4k has the same relative value as 4k does now (based on inflation), would I be able to pay in £4.4k and get £1.1k, ...
2
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1answer
68 views

How big can your deposit be for a Life time ISA?

I understand you have to have a mortgage to use it for a house without a withdrawal charge? but can you say build up 90k in a life time Issa and have a 10k mortgage on your first house costing 100k?
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9answers
8k views

Second (easy access) account in case my bank screws up

Sometimes banks screw up. At the moment I have a single login with a single bank (various accounts inside). I'm not that rich, so that's no biggie. I'm under the personal savings insurance limit, and ...
1
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1answer
30 views

ESPP, expat and CGT in which country (Canada/UK)

I participate in my Canadian company's ESPP whilst living and working in Canada as a permanent resident. I'm moving back to the UK in August and will sell my shares when I'm back in the UK. Will the ...
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0answers
165 views

UK will: can I disinherit any beneficiary who is permanently mentally incapable at the time of my death? [closed]

I would like to have a clause in my will to the effect that any beneficiary who has permanently lost mental capacity should be treated as having pre-deceased me. The reason for this is that I saw an ...
6
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1answer
146 views

I have not been invoiced for work done for me back in 2016 - in the UK

I have had various people do work for me, architects, builders and the like. They do work, they send me invoice, I pay, all is good. However, I have had two people who have done different jobs for me,...
10
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1answer
803 views

Are UK pensions taxed twice?

I, like many, have a workplace pension. I pay taxes through PAYE and file a self assessment covering all other income. My understanding is that your personal pension pot is 25% tax free then you pay ...
3
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1answer
240 views

Could the UK be subject to hyperinflation following a No Deal Brexit? [closed]

As I understand it, a No Deal Brexit will see the UK's current trade deals with the EU cut off immediately without a grace period to renegotiate. It's generally accepted that this will cause the value ...
4
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2answers
487 views

Why doesn't the UK allow paying income tax as a couple, like the USA?

This is possibly an unanswerable question, but I'm curious as to why the UK doesn't have the concept of paying income tax as a couple, the way the USA does? It occurred to me a few days ago that, ...
56
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7answers
11k views

Looking after a wayward brother in mother's will

My brother has a problem with money; twice personally bankrupt, 3 marriages and 2 kids (from the 2nd marriage). Our mother is getting old and getting worried. She worries that if she wills him money,...
4
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2answers
177 views

When is paying into a UK pension bad tax planning? (LTA)

UK Pensions are great for the tax breaks that they give as you pay into them (up to 45%), and as the pension generates value, but if you exceed the lifetime allowance (LTA = £1,055,000 in 2019-2020) ...
0
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1answer
75 views

Why didn't I get avios for every pound I spent using Amex British Airways

I've been using an American Express British Airways credit card. As it is advertised, it gives you one avios per pound you spend. However, I only got 29 avios after spending more than 100 pounds. ...
1
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1answer
40 views

why is this UK firm's market capitalization number weird?

https://uk.investing.com/equities/uk-comm-prop-trust Hi, I am gathering UK stocks information through financial numbers. But as I was looking into this firm, I tried to calculate the market ...
7
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1answer
170 views

How do I know if my UK workplace pension scheme is trustworthy?

In the UK, employers are required by law to automatically enrol most employees in a workplace pension. I've recently been autoenroled in such a scheme. However, I'm conscious of the fact that the ...
2
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0answers
43 views

UK Capital Gains Tax on Property - Deductible costs

Over 16 years ago my mother gifted me £40k from the sale of her home that I agreed to use towards buying a flat in my name for her to live in. There was a proviso to the gift that I was to give my ...
3
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1answer
69 views

401k / Foreign Tax Credit

I am resident in the UK. My Wife is also resident in the UK, but is a US citizen. I'm 40 years old. We file a joint US tax return each year, and we file 1116 against all of my UK earnings. I have ...
25
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3answers
6k views

What information do scammers need to withdraw money from an account?

There is a story currently on the BBC news website. The relevant points are: Scammers called Alex pretending to be BT (telecommunications provider). Alex provided scammers with information / help ...
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1answer
69 views

Yearly line rental - moving provider or moving house

I am confused with how paying for a yearly line rental works. As you could guess, I am 12 months into my broadband contract and they are offering me to pay for another years line rental up front. I ...
2
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3answers
263 views

Why don't most lenders lend on a leasehold property if the lease has fewer than 70 years?

The Money Advice Service: How important is the length of a lease? If the lease is for less than 70 years, you might struggle to get a mortgage. Lenders will normally need it to run for 25-...
5
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1answer
136 views

How safe/secure is the Universities Superannuation Scheme?

I don't know if this may be too broad, but I was hoping someone can give me some guidance. I don't know a huge amount about pension schemes (or finance for that matter!) but I have a job opportunity ...
2
votes
1answer
349 views

What is the equivalent US wage of £50,000 in the UK?

If you're earning £50,000 per annum in the UK, you'll largely be considered very successful by most people. From my own personal experience the average range for most people is around £25-35k. It ...
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1answer
144 views

What are a landlord's obligations?

Similar to another question about a citizen's legal obligations, which I found very informative, I would like to ask a the same but for landlords. I would also like to expand the scope beyond just ...
1
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1answer
156 views

What's the point of a 20% (alias 16.5%) VAT flat rate in UK?

The normal VAT in UK is already 20%. Note that 16.5% VAT flat rate for £100 is not £16.5 but £20.0. HMRC does not calculate like any other country I know. The 16.5% is calculated on the invoiced ...
3
votes
1answer
173 views

What does 'raise money on the security of the house' mean?

I am reading about a personal finance situation in which "A 78 year old widow wanted to help her nephew raise money on the security of her house, provided she can remain there for life. I'd like to ...
1
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1answer
29 views

HMRC Tax Returns for following year

If my startup business is running at a loss after adding costs of supplies and money come in, how would this affect income tax in the following year? As any gains in the following year would need to ...
3
votes
1answer
223 views

Is there a sensible way to get rid of my financed car?

18 months ago I signed up to a Personal Contract Hire (aka PCP) car finance deal in the UK. I've financed several vehicles in the past and, although I know it's not the most cost-effective thing, I've ...
8
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2answers
481 views

UK - wife declined for credit card due to pregnancy

My wife was recently declined for a credit card based solely on the fact she is 6 months pregnant and will soon be on maternity leave. The scenario details are as follows: Application was made in ...
3
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1answer
162 views

What should I do if no party wants to act on fraudulent transaction

In reality, this problem was acknowledged and resolved by one of the parties, but I want to know what to do in theoretical future scenarios. My Airbnb account was recently hacked. I don't know why, ...
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0answers
36 views

Tax in India and UK

I came to the UK in March 2019. Due to other formalities, my bank account was opened in April 2019. So in March 2019 my Indian salary got credited in an Indian bank account after tax deductions. In ...
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1answer
124 views

How am I taxed as director of limited company that is also employed by another company?

I am a UK resident working at a consulting firm earning 33k salary before tax. I have setup a limited company with a friend in which I am a director with 1/3 share in the company. We will soon be ...
2
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1answer
210 views

Extra income in UK?

I am a UK resident and have a permanent job in the UK for which I received monthly salary in £. I recently did a one-off consultancy abroad for which I received about £1000 commission (in Euro ...
6
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1answer
99 views

Protection against loss of investments if a fund provider fails

What would happen to my pension or ISA investment in a fund (such as Vanguard LifeStrategy 60) if the provider of that fund failed and went out of business? I understand that FSCS protects against ...
2
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1answer
85 views

What is a reasonable discount on the share price for a 25% holding?

One party controls 75% of the shares and voting rights of a small private company. The other party controls 25%. The larger party wants to buy out the smaller party to own 100%. The shares were ...
1
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1answer
122 views

How do Vanguard LifeStrategy 60 Inc units generate a yield when all the sub-funds are Acc units?

According to Vanguard's portfolio information for Lifestrategy 60 Inc units, the sub-funds of which it's made up are entirely Acc units (with the exception of an inconsequential 0.0% in a distributing ...
53
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5answers
28k views

Withdrew £2800, but only £2000 shows as withdrawn on online banking; what are my obligations?

I just withdrew £2800 from the bank. Looking at my online banking, there is only a withdrawal of £2000 listed. The form I signed said the amount I asked for, and the teller weighed the cash out on the ...
2
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1answer
65 views

Can I invest using the All Weather Portfolio strategy buying US stocks but on the London Stock Exchange?

I really like Ray Dalio’s ‘All Weather Portfolio strategy’ and I would like to follow this, but I’m struggling to find relatable USA ETF’s that I can buy into on the LSE. Even if I did manage to find ...
3
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0answers
43 views

Capital Gains Tax and Main Residence

If I changed my main residence 4 years ago, but did not inform HMRC, then can i register for the dates i actually changed my main residence when i sell my older property, in order to avoid paying more ...
33
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8answers
8k views

Mortgage adviser recommends a longer term than necessary combined with overpayments

My wife and I are currently househunting and have, as part of this process, had a preliminary meeting with a mortgage adviser. They asked all the expected questions about finances to see what our ...
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2answers
295 views

Is the seller of a property in the UK in a position to dictate what the buyer does with it?

I know very little about the housing market or mortgages (it's just not taught in school in the UK, whereas oxbow lakes and pathetic fallacy are), but within a year I should be able to get my foot on ...
2
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1answer
53 views

Do I need to file a tax return if my tax code is NT (UK)?

I have been living in Germany for three years and working for a London-based company (as an employee) remotely from home. (I lived in the UK between 2012 and 2015.) I sent P85 to HMRC back in ...
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2answers
78 views

UK mortgage, owned house abroad as a 'deposit'

does anyone know if there is a possibility to get a house mortgage in UK, but as a 'deposit' use a property located in other European country with value much higher than what would be required for ...
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1answer
169 views

Does an unused overdraft help or hinder credit score?

Whilst at university, I was given an interest- and fee-free overdraft of £2000. I finished uni a few years ago by now, and the interest- and fee-free deal has now ended. I don't use the overdraft at ...
4
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0answers
137 views

Capital gains tax and HMRC. What is the definition of a lodger and is there a difference between a friend staying a few months and a lodger?

I have two friends living with me and they only pay bills (no rent) and I wondering if I would be liable for CGT on the period they live there? I don't take any rent from them at all and they are ...
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1answer
85 views

Capital Gains Tax - rented my flat at no real profit for a number of years

I have been letting my home to lodgers on and off for a few years to friends for no profit or a considerably lower profit (30% -50% of market value). I don't consider it a business or a money making ...
1
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1answer
36 views

Capital gains tax calculations - percentages per year of increase or at sale (UK)

Purchased house for £100,000 in 2008 Sold house for £200,000 in 2017 The house was let out entirely for the duration of ownership. My income for 2017 was under the tax free allowance. Now, to ...
2
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1answer
68 views

Invest in Motley Fool 100 through UK ISA?

Is it possible to invest on a Motley Fool 100 based index through a UK ISA?