Questions tagged [united-kingdom]

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

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24 views

protected tax-free cash UK Pensions

I have an old pension (with Profits). I was advised to take it out as soon as I could by my Financial Advisor. Having turned 55 I am now in the process of taking it out. When I was 50 I asked for a ...
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1answer
25 views

US Citizen Living & Working PT with UK Company on Student Visa, Looking to Freelance for US Company

I'm a US citizen currently in the UK (Northern Ireland to be exact) on a student visa, which allows me to work up to 20 hours per week while I am here. I currently work 20 hours/week for a UK-based ...
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3answers
130 views

Index or fund that closely tracks residential properties in the UK

Rather than buying property in the UK, are there indices or funds that closely follow house price growth/loss in the UK? Property developers tend to have their own growth patterns. My problem is I won'...
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1answer
77 views

Tax payable on student loan repayment

I have two children at university. The eldest is in his second year as a PhD student, the youngest in the third year as an under-graduate. Both have taken out student loans and owe £45,000 (for under-...
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1answer
893 views

How to monitor director or owner buy/sell in UK markets

In the US, when a director, officer or 10 percent owner buys or sells shares in the company they work for (insider buy/sell), a Form 4 or Form 5 must be submitted to SEC, and can be found on the EDGAR ...
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1answer
52 views

UK tax when selling service through my website (via monthly subscriptions)

I live in UK and only pay taxes here. Every year I need to submit my self assessment but until now I only had my regular job, so all taxes were paid at source and I simply had to report this in the ...
2
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1answer
36 views

Can I claim EIS tax for previous years?

I wasn't aware of EIS until recently. I have some small investments through crowdcube from 2019/2020 which I haven't claimed for in my tax return. Can I include them retrospectively on my current tax ...
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2answers
68 views

Can rent from a UK property be moved into an investment account if the owner lives abroad?

TL;DR: I want to rent my house out while I live in another country for some years. I'd like the rent to go into a stocks and shares investment, to grow. Is this allowed, in the UK? I've been in my ...
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1answer
67 views

Inheriting an ISA

What are the restrictions or complications around inheriting an ISA if I already have one? Is it simply that I can’t pay into it or more problematic because of inheritance tax?
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1answer
3k views

What does the letter “c” mean with a number in an annual report (UK)

I had a question when reviewing an annual report of a company Wood PLC. In their report they have used the letter "c" in lowercase after different types of numbers. E.g., basic EPS is ...
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4answers
5k views

Have I left investing until too late?

I'm 44 and have only the investment of a house. I was scared off ISAs (individual savings accounts) etc because of the complexity, choice, etc and only now have I come to make the decision to open an ...
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1answer
39 views

Holding ISAs after emigrating to Poland

I'm a UK resident and plan to move to Poland for at least 10 years, in 2 years' time. I'm intending to open a junior Investment ISA and, for me, an Investment ISA. We will retain our property here in ...
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1answer
47 views

How do you report a foreign bank or brokerage account UK

How do you report foreign bank or brokerage accounts as a UK tax resident? Is it enough to just fill out the foreign income, interest and capital gains section of the tax return? Or do I have to ...
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1answer
82 views

How to start paying US taxes as a dual citizen

I am a UK/US dual citizen; born and living in the UK. I have travelled to the US several times, but never lived there. My family's attitude towards US taxes has always been "stay off the IRS' ...
4
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1answer
49 views

Can I buy an overseas property using the bonus from a Lifetime ISA?

I have a Lifetime ISA but am looking to move overseas in the next few months. I am yet to buy any property and thus my first property purchase will most likely be overseas, can I use my Lifetime ISA ...
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1answer
101 views

Do I have to pay tax if I spend all my income as a self-employed?

I'm participating in working on a project part time that will probably last for 3 months. I will get ~£7500 income for this. But at the same time I'm working full time in a permanent position. I ...
3
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0answers
53 views

UK-US stock transfers

I live in the United States and work for a local office of a UK company (traded on the London Stock Exchange). My employer has an ESPP administered by a company called "Equiniti". I wish ...
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1answer
154 views

How should money sitting idle in a bank account be invested? [duplicate]

I've been working for a couple of years still living in my parents home with no outgoings, meaning all my money goes straight to the bank. I've saved around £30'000+ but I'm unhappy with money sitting ...
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0answers
46 views

Can I reduce the capital gain on which I have to pay taxes if the previous year I had big losses?

Suppose this year I have a capital gain of 200 thousand pounds, but last year I had a loss of 50 thousand pounds... this year can I pay taxes only on 150 thousand pounds of capital gain? And what if ...
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0answers
27 views

UK - Where to get blank EIS claim form

I want to submit EIS claim form, but the form I got from the company is accidentally damaged, so I want to find the blank form, print it and submit. But for some weird reason I just cannot find the ...
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0answers
29 views

Tax-free (or low tax) investments for US citizen residing in the UK?

I am a US citizen residing in the UK (long-term, possibly including in retirement). My spouse is also a US citizen, and my children have dual citizenships. Are there any investments available to us ...
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1answer
84 views

Is it normal for a Single error in credit report to make a big impact on one's credit score?

I just generated my credit report and it gave a score in the orange. Looking through the details in the report, I see only one "red mark" -- so presume this is the only thing that is ...
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0answers
77 views

My parents live in England. I live and file taxes in the US. I want to make them an interest free loan to buy a house. Payable at death / house sale

I considered purchasing it as joint tenants in common but that triggers stamp duty on the entire purchase as I’m a non UK resident. I thought they may be able to amend their will to represent the ...
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1answer
59 views

Freelance income from different currencies (UK)

I have a UK day work and also do some freelance stuff. I will start to work as a freelance for a Swiss university and for a Canadian organisation. I will invoice them in CHF and USD respectively as ...
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2answers
170 views

*Remote* internship for a UK company as a Spanish resident — they want me to go to the UK?

Background My permanent residence is in (mainland) Spain I'm studying at a university in the UK (specifically, Scotland) At the start of this academic year (September 2020), I moved to the UK for ...
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1answer
84 views

Number of weeks in financial years (UK)

For each of the last 15 years, in the UK how many weeks were there in the tax/financial year? I want to have a clear out of old payslips and plan on shredding them all apart from the last one of each ...
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0answers
46 views

Help on calculating national insurance obligations as a director of a UK based limited company

For the Jan 2020 to Jan 2021 I was working and being paid in the US. All tax etc. was paid in the US. I came back to the UK and started a business - a limited company where I am director and only ...
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2answers
104 views

UK Stamp Duty - Me and my wife want to buy our first house, how much tax do we have to pay?

We are in the process of buying our first home in UK with a price of less than 250K but I have on my name another 1/2 apartment in my country of origin (values at less than 40K) so technically we don'...
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1answer
110 views

Resale of a House with Estate Rentcharge

Made an offer on a c. 40 yr. old freehold house in London. Had offer accepted. When going through the docs as part of pre sign-off due-dilligence, turned out there is a 300 GBP / year Estate ...
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2answers
95 views

Setting up a Limited company online

I am going to set up a Limited Company for myself, as a sole owner. An accountant quoted me a good amount of money to do it. I have seen a number of online companies who say they help you do it for a ...
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0answers
18 views

Newly Formed Non Resident UK LLP Form SA401 and SA402

I'm not resident of UK or EU and I've newly formed a two membered UK LLP as non resident with me as a member and a single member US LLC as the other designated member. After one week of forming the ...
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1answer
73 views

Stamp Duty for EU citizens (UK residents)

I am about to purchase as house which costs less than 400k in the UK under a leasehold over 110 years. Currently, they say there are no stamp duty rates applying until the end of June 2021. The house ...
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2answers
76 views

How are annuity rates calculated for money purchase/DC pensions?

I have two pension schemes from two different UK major providers, and they are presumably using whatever the legal requirements are for calculating projected annuity for my pot, but to me they seem ...
2
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0answers
53 views

Uk Tax year and limited companies

I want to open a uk private limited company but wondered if there are any advantages to wait a month so it will be registered in the new tax year. I know the financials have to be submitted 12 after ...
2
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2answers
226 views

My credit card company has stopped charging me interest. Shall I inform them?

I have a credit card with ~£5,000 balance and the interest rate is 27% APR. A few months ago I was checked my transactions online, looking for the latest interest charge, but I couldn't find it. So I ...
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1answer
214 views

Want to bring inheritance Money from Pakistan to UK?

What are the taxes? or other Uk Gov-related rules that we need to keep in mind in order to bring inherited money from Pakistan to the UK? My Grandfather passed away and left an inheritance for his ...
4
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1answer
109 views

Can a UK bank request to see unredacted statement from a payee?

My father transferred some money accross to my bank account, which I no longer required and returned within a month. TSB has frozen my account and told me this in a letter demanding I send payee's ...
3
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1answer
93 views

Is donating money to charities / non-profits with a credit card considered a cash advance transaction?

I'm UK based. I know that credit cards charge extra cash transaction fees for not only getting cash from the ATM but also for things which are not quite cash like crypto, gift cards or gambling. Is ...
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6answers
7k views

Are there any downsides to having a bigger salary rather than a bonus?

My company has consistently given out bonuses for the past few years and the bonuses have been gradually rising each year. Currently the bonuses are around 15-20% of my annual salary. I spoke to my ...
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1answer
60 views

Understanding a UK Plan 2 Student Loan Interest Calculation

I recently requested a statement from SF England regarding my student loan outstanding debt. Once I had this I was leafing through but started to become confused about their methods of calculating ...
5
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1answer
446 views

Will I pay customs fees when ordering a “sold by Amazon EU” good on Amazon UK?

I would like to buy a ca. £75 item on amazon.co.uk which is “Sold by: Amazon EU”, and to be delivered in the UK (England). The confirmation pane looks like this (promotion = free delivery): Question: ...
31
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7answers
6k views

Under what circumstances can a bank transfer be reversed?

Under what circumstances can a UK high street bank reverse, refund or cancel a bank transfer and do they need to contact the account holder beforehand? I had been under the impression that if I log ...
18
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6answers
2k views

Buying a house with my new partner as Tenants in common. How do we work out what is fair for us both?

My new partner (7 years new!) are buying our first house together. We are both in our late 40s and have been divorced for some years. I have more equity to put down to purchase the house, but he earns ...
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2answers
155 views

Share Options Vs Salary

In my current role my base salary is well below market value for my experience and responsibility. Ive also been awarded some share options and pay in to a share save scheme at the same time. I have ...
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0answers
70 views

How do I safely transfer money from a US bank to a UK bank?

I am currently living in the UK after many years in the US. I want to safely transfer some money from my US bank (Ally bank) to my bank account in the UK. (Ally Bank doesn't do international transfers,...
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0answers
55 views

Is it a legal requirement to put your VAT number on a receipt? [closed]

Someone recently complained to our business that our receipts didn't have our VAT number on them. If anyone ever requests a VAT receipt/invoice then we draw one up manually, otherwise, we just issue ...
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3answers
152 views

If I owe £100k as a directors loan, do I have to pay back £100k

If I have a directors loan of £100k taken out in the UK and I am now look to pay this back. Would I be looking to pay the full £100k or is it calculated differently? I am slightly confused here, when ...
5
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1answer
148 views

How do I organize my investments to generate the maximum tax free income - in the UK?

I want to organize my investments to maximise the use of annual tax free allowances in the UK. Assume no income from employment, so Investment Ideas to maximise use of the Personal Allowance are ...
6
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1answer
224 views

Effect of withdrawing money on ISA contribution allowance

If I haven’t put my ISA allowance in this year but have taken £12,000 out of my ISA, how much can I put in for that year?
2
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0answers
22 views

UK - Do I need to file final accounts when striking off an empty <12 months old company?

I would like to strike off an empty UK ltd company which is <12 month old and has never done any business and has no employees. My accountant has advised me I don't need to file final accounts ...

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