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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
34 views

Are profits made from equity investments subject to income tax on top of CGT?

I want to invest in a stock ETF, but I'm wondering if any profit I make from these investments is subject not only to the 20% Capital Gains Tax but also counts towards income and thus subject to ...
0
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0answers
34 views

Tax efficient clothing company setup in the U.K [on hold]

I’ve setup a private limited company via companies house before. I’d like to know if I should do the same if I intend on creating a clothing company. Is there a better way?
2
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2answers
38 views

Is the UK ISA's tax relief applied to ETFs that hold stocks of non British companies?

Is the ISA's tax relief applied to ETFs like VUSA (S&P 500 index tracker), which holds stocks of countries other than the UK?
4
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1answer
182 views

Reasonable Rate of Return on A Pension?

Like a lot of people, I have a string of relatively small pensions, all invested in different funds with a few different providers. I should add that I'm no longer paying into any of the ones I'm ...
0
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0answers
15 views

What time frame does a candle represent? (MT4)

I'm using MetaTrader 4 and want to understand the specifics of what a candle shows. If a candle represents, on the 1 minute time frame, 21:01 (9:01pm) is this candle showing the price action between: ...
3
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1answer
36 views

How is interest calculated on a UK type 1 student loan?

On my student loan annual statement it says The Student Loan Company applied interest to my balance every month but only received one lump sum payment at the end of the year from HMRC, even though ...
25
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8answers
8k views

Is there any point in adding more than 6 months' runway in savings instead of investing everything after that?

I have saved enough to be able to survive for 6 months. I don't have any debt. So far, I've been investing a small part of my income in a diversified portfolio and have seen ~11% returns, which I'm ...
1
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1answer
100 views

VAT on quote misleading? [duplicate]

I wish some advise. We have a quote from a VAT Registered building company for work on an extension, this quote for simplicity was 50k GBP. At the end of the list of items on the quotethey will ...
1
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0answers
20 views

UK: How does gift holdover relief interact with potentially exempt transfers?

An elderly acquaintance is considering gifting some shares in the family business to his children. There is significant capital gains accrued on the shares (which said relative has held for decades), ...
5
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1answer
182 views

Agency wants to increase rent halfway through the tenancy

Context: United Kingdom, South-East, West of London I have made an offer for a rental property: 2 year tenancy with a 6 month break clause at £XXX/month. This offer was accepted and I paid a holding ...
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0answers
15 views

MT4 trailing stop size

On the UK100 (FTSE) I have set a trailing stop of (as the trailing stop menu says) 50 points. Recently, when the price dropped by 5 points, my position closed (up, fortunately) yet this was not at 50 ...
0
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1answer
36 views

Is there a UK investment brokerage allowing purchase of fractional shares / dividend reinvestment with low fees? [closed]

I am a UK resident looking for a stocks and shares brokerage for long-term value-investing. I am currently working with limited money for investing so am saving until I can buy complete stocks using ...
5
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1answer
74 views

Lifetime ISA Eligibility

I am a director of a Limited company (SPV) which owns an investment property on a Limited Company Buy to Let. I am one of four directors, other directors are parents and sibling. I don't own a ...
3
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0answers
102 views

Glint Administration — What Steps to take to claim my assets? [closed]

I have the issue that the company Glint (https://glintpay.com) has gone into administration and all customers' assets, including mine, are frozen by the administrators. Glint is a company that mainly ...
1
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1answer
50 views

Repatriate money from NRE account to my UK account

I have an NRE account in India and a UK bank account here as I am a British Citizen and OCI. As Interest rates in Indian banks are far better than in UK, I plan to have Fixed Deposit in NRE account ...
2
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1answer
75 views

Spain: Inheritance taxes due for UK citizen living and working in Spain

Consider a UK citizen who is resident (namely living, and paying income taxes, but not of permanent residence or of Spanish citizenship) in Spain and becomes an heir/beneficiary of a UK death estate. ...
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2answers
117 views

What are the steps for opening an investment account and starting investing in the UK?

I want to start investing some money I have saved. I have investigated about this but I'm still not secure about what to do. I have called to my bank to ask questions but they didn't help too much ...
35
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7answers
12k views

Best way to get my money back from a friend having family problems

Back in 2018, in June, a friend working in the UK (let’s call him Dave), asked me to lend him money because he has “family problems” mentioning he will return them by August, 2018. Things did not go ...
2
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0answers
157 views

Landlord/Property managers broke contract (I think) but I never did anything about it due to hassle involved, what are my options now?

So, about a year ago some people came in and changed the Electric and Gas meters to Pay as you go meters because the landlord hadn't paid the bills. Since my contract was an all-inclusive contract ...
1
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1answer
116 views

UK - first house as a investment, mortgage

I am about to buy first house in UK, mainly for investment purposes (UK) Property price: up to 280k £ Spare cash: 60k (deposit, fees, renovation costs) (renovation costs will be much lowers, because ...
25
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8answers
7k views

What's a good strategy for offering low on a house?

We are in the UK and interested in purchasing a house, but the highest offer we could make is substantially below the asking price by around 5%. However, we have some advantages over other ...
1
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1answer
51 views

Self assessment: Entering in sideways loss relief from previous year

Any one au-fait with Self Assessment? I am not sure where/how to fill in the online self assessment form to do this: Claim previous year's losses in one business to claim relief on this years ...
5
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2answers
173 views

State pension from UK when a moving back to Spain after working only 10y in UK

I am a Spanish citizen who has been living in UK for the past 7 years. During this period I have always worked here and I haven't received any income from Spain. I have also regularly contributed to ...
28
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6answers
6k views

What is the business model of discounted gift cards?

Context: I have an account on a third-party website that sells discounted (first hand) gift cards — because my employer is part of the scheme. For example, you pay ¤95 for a ¤100 gift-card, in the ...
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3answers
173 views

Do I need a brokerage account to invest in ETFs?

I want to start investing in ETFs, but this is my first time doing this and I don't know what do I need to do for buying stocks. I want to buy some ETF that tracks an index such as S&P or FTSE100,...
2
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1answer
262 views

Can I use work on business ideas to reduce my tax burden?

I run a software consultancy which turns over approximately £250k per year. My work mainly involves by-the-hour consultancy or some fixed-price projects but no stock and very few expenses. In ...
23
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6answers
6k views

What are the advantages to banks being located in the City of London (the Square Mile)?

This question is about the City of London, i.e., the Square Mile, not greater London. There are an awful lot of international banks located in the City of London. What advantages are there to having ...
1
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3answers
213 views

When to schedule direct debits to maximise interest

Assuming my debit (current) account pays me interest on the funds that are in the account, my intuition is telling me that it makes sense to schedule direct debits for the day before I'm paid. This ...
2
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3answers
144 views

UK - What are the safest options to keep more than the FSCS limit in a bank/investment company?

The Financial Services Compensation Scheme (FSCS) can compensate you if you have money in a bank/investment/pension/insurance/etc firm that has failed and is part of the scheme. For example, as of ...
2
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1answer
148 views

First time getting car finance, but existing car in my wife's name

Our current situation is that we’ve always had our sole family car registered in my wife’s name, and insured in her name with me as an extra driver. However, we’re planning on buying a new car with ...
3
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2answers
138 views

Does trading currency choice in a Gold ETC make a difference when base currency remains same?

The WisdomTree Physical Swiss Gold Exchange Traded Commodity is available in trading currencies of both GBP (SGBX.L) and USD (SGBS.L) on the London Stock Exchange. I believe that the base currency ...
2
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1answer
142 views

Mortgage term and overpayment

I have been comparing mortgages on a banks website. It appears that the term I choose does not affect the interest rate I am offered. In this case the deals allow 10% overpayment per year without ...
10
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1answer
336 views

Should I stop over-paying my mortgage before moving?

In response to this question: Does Bank Manager's discretion still exist in Mortgage Lending a user ("Bryce") commented: Stop overpaying your old mortgage now. Maybe even take out a home ...
3
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1answer
152 views

UK: How do I make my separate company a subsidiary of another?

I have company A which is an investment company. I have company B which is an contracting company. I want to make company B a subsidiary of company A, I presume I need to fill out some type of form ...
4
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2answers
193 views

Withdrawing entire pension pot early

I have a small pension pot from an employer I started with in the last few years; it's around £15k which is entirely the employer's contributions. I have had no other pension prior to this, due to ...
29
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3answers
4k views

Does Bank Manager's discretion still exist in Mortgage Lending

UK-Based Once upon a time, banks gave mortgages based on the branch manager having known Joe Bloggs for 20 years and making a judgement call about whether he was good for the money. These days ...
34
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8answers
14k views

Realistically, how much do you need to start investing?

I don't have a lump sum but may be able to set aside £2k-3k per month. I am already paying into a pension fund but that seems unlikely to go far. Yet I think it's a good safeguard. Can I start ...
1
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0answers
25 views

What will my LGPS pension refund consist of?

I have recently changed jobs. My previous pension was with Scottish Widows and contributions were done through salary sacrifice. I now have a LGPS (Local Government Pension Scheme) pension and have ...
3
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0answers
270 views

Removal Company Behavior - Is it a scam?

I have just relocated from the Uk to France, and I have agreed with company A to make the removal of all the items in my house for around 5,000 £ (a good price, but not too good to be true in my ...
1
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1answer
145 views

Do payments into my bank account in the day to day business of managing my friend's/client's property count as MY turnover? (England)

I helped a friend manage her property on Airbnb. The Airbnb money went into my account, the costs came out of my account and I transferred to her 50% of the profit (keeping the other 50% for myself)....
1
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1answer
109 views

PCP opening balance seems very high

I’ve just received my first statement from my first PCP car agreement and I’m very confused. My credit amount was £20,500 ish and my statement shows that my opening balance 29 days later (when my ...
6
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1answer
228 views

Identical flat put up for sale just before us

I live in a block of flats, where each flat is (or was originally) identical. Half are a reflection of the others, and the ground-floors are different from the non-ground-floors, but other than that ...
0
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1answer
91 views

How to put cash into any UK bank account?

I have exchanged some of my home currency and would like to put it in my UK bank account (Monese), however, I forgot the GBP card at home and only brought my Euro one which means that I can't use the ...
2
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2answers
190 views

In the UK, do I need to pay income tax if I only work for 1 year and I don't exceed the yearly allowance?

I am getting paid 17.5k (with 4% going to pension) during my work placement (that's part of my studies). It started in September 2019 and it ends in August 2020. Since the tax year breaks in April, I ...
2
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1answer
93 views

Changing jobs in UK and health insurance

I am self employed in the UK. My wife works for companies which give you a family health package while you work with them. Now my wife changed jobs. Before she was with BUPA and now, via the company, ...
9
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2answers
303 views

Donation via text message, does all (or most) of the money go to the charity?

A while ago a signed up via text message to Save the Children £3 per month. I get a message every month saying thank you for donating and £3 is added to my phone bill. But I wonder does the phone ...
1
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1answer
38 views

What sources of income do not require an SATR to be filed?

For someone who is PAYE or unemployed, but has some income streams, when is an SATR required in the UK? typical sources of income might include: bank interest dividends on shares you hold as an ...
1
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1answer
272 views

How long do I have to wait to start renting out a newly bought flat?

I've purchased a new flat outright as a cash buyer. The solicitor documentation suggests there is a 'SDLT' (stamp duty) tax of around £8,000. I believe this can be avoided by living in the property ...
3
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1answer
86 views

Are inheritance tax and capital gains due on UK property joint owned by parents and children?

Around twenty years ago my parents amended the ownership of the family home so it was jointly owned one quarter each by my parents, my sister and I. At the same time they made wills stating that their ...
3
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4answers
349 views

Will my credit score go down if I don’t borrow money for few years?

My credit score is relatively high. Due to personal circumstances I don’t intend to use my credit cards for the next 3 years. I won’t be getting any loans either. At the moment I have no debt at all, ...