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Questions tagged [united-kingdom]

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

52
votes
8answers
24k views

Is this broker a scam?

I was contacted by a 'broker' in January, they said they're based in Switzerland (I'm based in the UK), and they asked to invest some money (as minimum as $1000). They told me that my platform would ...
4
votes
2answers
200 views

Moving from USA to India, and will be working remote. Where should I get paid?

I am an Indian citizen and have resided in the US for more than 5 years and will be moving back to India soon (because of idiotic laws that prevents an H4 visa holder to work remote for an overseas ...
0
votes
0answers
33 views

CGT in India and claiming tax credits in UK

Hoping you can advise. With the recent introduction of CGT of 10% on sale of shares in the indian stock market, I wanted to understand the calculations and impact of that when doing self assessment ...
9
votes
2answers
766 views

Savings advice for a 16 year old with £20,000 - convicing my parents that investing this into a property is a bad idea

My younger brother runs a small yet lucrative business in his free time. He has accumulated around £20k in a very short time. My mother wants him to put this money into buying a property, i.e: a ...
11
votes
2answers
3k views

Putting fiancée on the mortgage during a renewal

The mortgage is due to be renewed in March as the product's life-cycle is naturally coming to an end, and so we figured now might be a good time to put my fiancée on the mortgage (as opposed to before ...
-4
votes
2answers
535 views

Can you abandon debt if you move address and open a new bank account? [closed]

This is a hypothetical situation. Let's say Bob, who lives in the UK, has a lot of debt to bank A, about £10,000 in credit card debt and another £10,000 or so in loans, overdrafts, and unpaid fees. ...
4
votes
1answer
83 views

How do you find out if an AIM share is eligible for tax relief?

Does anybody provide a list of shares which are eligible for UK's Enterprise Investment Scheme (EIS) relief ? For instance, do any of the online share screeners allow screening for EIS eligibility, ...
1
vote
1answer
70 views

Cross-border account access for EU states

If an individual in, for example, Lithuania sells his home and disagrees with the state on taxation and then the state goes after the taxes through Lithuanian courts. As the individual has no assets ...
2
votes
0answers
207 views

Can you keep exercised EMI options after leaving a company?

I'm fairly unknowledgeable regarding financial matters, so any help would be greatly appreciated. I have been granted EMI options with my current employer, half of which have vested. The company is ...
3
votes
1answer
166 views

Why use dividend-paying ETFs, given that dividend tax is higher than capital gains tax?

Say a UK tax-payer is in the higher tax brackets for taxes. They will pay 20% on their capital gains, and 38% on their dividend gains. It seems to me that it is strictly worse to use dividend paying ...
6
votes
2answers
3k views

How is interest calculated on PCP agreements?

in December 2018, I'll be at the end of my PCP agreement for my current car and I'm weighing up my options. I've never really paid attention to the details about my previous finance agreements - I ...
0
votes
1answer
43 views

How to coordinate the dividends and PAYE in United Kingdom [closed]

I have an IT contracting company. Just registered for PAYE. How much salary should I get and how do we give dividends?
0
votes
0answers
328 views

International Wire Transfer Recall Disaster

I sent an international wire to the UK on the 19th of September and my bank (credit union) is still trying to recall it without success. Scotland Bank was the recipient and the intermediary bank is ...
1
vote
1answer
118 views

Investment strategy in index funds during the start of the bear market [duplicate]

It's kind of a newbie question but I was preparing to invest in index funds (low-cost index funds) for a while now and I am just thinking what should my strategy look like. As of the day of writing ...
2
votes
1answer
50 views

Shareholder options if company redomiciles

What happens to my shares if the dual listed company re domiciles from TSX.V to LSE only? Bcn is the co. Wondering how or if my shares are exchanged?
2
votes
1answer
281 views

Why was I offered 6.45% APR on my first credit card?

I decided to get my first credit card last week so that I can increase my credit rating. I was kinda surprised to find out that for some reason they offered me a permanent rate of 6.45% APR. Here is ...
2
votes
2answers
94 views

Help required on equity share setting up a cohabitation agreement (UK)

My partner and I are in the process of setting up a cohabitation agreement but struggling to come to an agreement of equity split. At the point I moved in with my partner he had equity in the ...
2
votes
1answer
59 views

Can an Italian taxpayer living in the UK receive a NINo and open an ISA?

I live, work, and pay my taxes in the UK. My wife is: an Italian citizen living in the UK working remotely for an Italian company, and paying her taxes in Italy. Can she request a NINO and open an ...
2
votes
1answer
72 views

What are units in pensions?

What are units in pensions' context? It seems such a basic term that I didn't find any site with a simple explanation for it.
1
vote
4answers
600 views

My previous employer paid me too much and now they want the money back

My previous employer (UK civil service) paid me my full monthly salary the month I left. The month I left (August 2017) I did around 5 days of work due to how my fixed contract work (11 months ...
1
vote
3answers
421 views

Tax implications of selling property and giving money to children

My friend owns a property in London with no mortgage and wishes to sell it and share the proceeds amongst her three adult children equally. This property is not her main residence. The estimated ...
7
votes
2answers
306 views

Estate agent wants to charge a large amount to change the contract

I live with two other people in a house share in the UK. One is moving out, and the estate agent who handles the contract wants to charge us £300 for the pleasure of changing a name. We think this is ...
3
votes
0answers
47 views

UK taxes on US investments with UK resident wife and US resident husband

If my wife moves to the UK for 9 months in the same calendar year and becomes UK tax resident is she liable for our USA worldwide investment income by HMRC? She does not work, I work in USA. We both ...
3
votes
1answer
150 views

Is it possible to get a big personal loan for foreign investment?

I'm from the UK, working as a contractor for a US company, earning $30k+ annually, and I want to buy a house costing around $100k in a non-EU country. I need an investment visa to do this. A ...
5
votes
3answers
366 views

Would a life insurance company think I was teetotal if I said I didn't drink regularly?

I have a life insurance policy and one of the application questions was "Do you regularly drink alcohol?". I answered "no", because to me it meant "do you drink every day?" or "do you drink every week?...
2
votes
0answers
43 views

What Details Do I Need to Keep for Tax Returns for Arbitrage Trading (UK)?

I've just started doing some arbitrage trading using a couple of online cryptocurrency exchanges, but I'm not sure what details I need to keep for the tax man. Do I need to keep a record of all my ...
8
votes
1answer
2k views

Do I need to SORN a new car that's not being driven on the road for a short period of time?

I bought a new car yesterday. Private seller, no car dealers involved. The guy I bought it off was kind enough to drive it to my house. It's now parked on my drive (off the road). I'm not planning ...
29
votes
8answers
6k views

Does having a credit card make it easier to get a mortgage?

I've never had a credit card and the only debt I have is my student loan. A number of my friends and family who have credit cards have said that having one makes it easier to get a mortgage as you'll ...
4
votes
1answer
297 views

Remote work done in New Zealand while on a Working Holiday Visa - who do I pay tax to?

I was in New Zealand on a working holiday visa in early 2017 for about nine weeks - across the last few weeks I was there, I did some remote software development work for a few different clients, all ...
2
votes
0answers
35 views

UK Capital Gains allowance and foreign investment funds

In this tax year I am going to realise some capital gains through the sale of shares in investment funds in Spain (this would be the equivalent to UK's OEIC - the kind of funds that are usually bought ...
1
vote
1answer
78 views

Capital allowance and balancing charges on UK tax return

I'm trying to fill in the 'Capital allowance and balancing charges' page, thing is I'm pretty sure I don't have anything to charge in this yet the website won't accept £0.00 as a valid answer, can ...
12
votes
4answers
6k views

How much can I negotiate asking price on London rentals

I'm moving to London soon and I'm trying to figure out how much higher, roughly are rent listings than the final rent landlords are expecting. Let's take as an example a 1-bed flat in East London ...
3
votes
1answer
510 views

Does receiving payments through PayPal cause any tax difficulties (UK)?

I am starting to take on small freelance projects as a side gig. I am currently a UK taxpayer, but my clients are located in the eurozone. Because my UK bank charges for incoming transfers from ...
5
votes
2answers
111 views

Valuing a public sector pension

A common public sector pension structure in the UK is as follows You receive a payment each year from your pensionable age until you die. If you die before your partner, they receive a survivor ...
13
votes
2answers
257 views

Once retired, is it ever not worth improving a pension by voluntary National Insurance contributions?

I am recently retired (in Germany) and gather from my UK National Insurance record (on tax.service.gov.uk) that I have 11 full years1 and a number of gaps which I may2 be able to close with voluntary ...
6
votes
0answers
181 views

Falling through the cracks for University funding [closed]

I am 18 years old. I have been accepted to study​ (an undergraduate course)​ at Cambridge University. I have a Dutch Passport and South African Permanent Residence. Unfortunately because I have ...
3
votes
1answer
244 views

Choosing tax-withholding method for restricted stock units

Last year I have been granted some Restricted Stock Units (RSUs) by my employer that vest over three years. The first batch is about to vest and I soon have to choose a tax-withholding method, between ...
8
votes
1answer
434 views

How should I pay tax on arbitrage profits?

Suppose I make an instant gain on an arbitrage trade. This is instant profit, so to speak, so technically there is no capital gains made. Do I pay CGT or income tax on the profit? I'm inclined to ...
1
vote
1answer
169 views

Should I swap out my HelpToBuy ISA for a Lifetime ISA?

The UK government has recently released a new type of ISA, the Lifetime ISA, to help first time buyers, such as myself. My goal is to save £100,000. My current savings are (all figures are rough): ...
-4
votes
1answer
203 views

How much income tax should I expect to pay

I need help. My previous employer is confusing me and wont pay all my wages. I work at this retail job for one month, November 2017,and left after i was told i would be paid two weeks into december. ...
6
votes
2answers
706 views

Selling house via estate agent vs selling property to developer, UK. Why price difference?

Background: I am executor for my father's estate, and the major asset is his house. There is a minor difference of opinion amongst siblings whether to sell house via estate agent, or to a property ...
1
vote
0answers
51 views

Could anyone confirm if I correctly understand how plugging a gap in someone's national insurance record works? (mixing Class 2 and Class 3 NICs)

Assume that a person became self-employed part of the way through the 2015-2016 tax year and subsequently paid voluntary Class 2 national insurance for 21 weeks. If they now send the NI office a ...
0
votes
2answers
417 views

Getting credit card in the UK without the permanent address

I've been in the UK since May, but I've been subletting apartments. I have a permanent job and I'm able to save 70% of my salary. I have the bank account in Lloyds and they told me that I'm not ...
2
votes
1answer
95 views

Is it legally binding in the UK to declare penalty charge notice issued by the council to the insurer?

Does the Penalty Charge Notice (PCN) for a traffic contravention issued by a local council need to be declared to the insurer? Also, does this affect the premium?
5
votes
1answer
161 views

What other questions should I ask my mortgage provider?

I am in the UK. In January 2007 I took out a 25 year repayment mortgage, which permits overpayments (which may be set up to either reduce the term or reduce the monthly payment) and also permits me to ...
4
votes
1answer
63 views

UK ISA once invested can it be spilt but kept in ISA state

In the UK ISAs are protected from tax, both income and capital gains, and they can be transferred between investments. During the current tax year (2017/8) investments are capped at 20k a year. A ...
2
votes
1answer
468 views

Transferring inheritance money from USA to the UK

I have some inheritance money that will soon be paid out in the US (I am a US citizen). I would like to transfer it to the UK, where I currently live, to help buy a property. Will the money be taxed ...
1
vote
1answer
67 views

Money transfer from India to my son in the United Kingdom

I want to transfer Rs 50000 to my son who is in the U.K. What is the procedure to be followed? I am now in Chennai, Tamil Nadu, India.
2
votes
1answer
49 views

Paying tax across two or more self-employed businesses

I'm self employed, and may be about to take on an open-ended contract working for a separate company. They would pay me as a contractor, and I would then pay taxes on that (self-assessment) at the end ...
1
vote
1answer
127 views

Taxes of a EU citizen who worked in the UK

I am an EU citizen. Seven years ago, I worked in the United Kingdom for six months. The work was given to me through an agency and the contract specifically said that I wish to work there only for six ...