Questions tagged [united-kingdom]

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

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3
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1answer
103 views

How to invest in property in the UK - mortgage vs cash buy

I'm fairly new to investing and I've never learnt to invest in different asset classes. Since my career has kicked off really well in the recent 3-4 years, now I'm planning to invest in property. I'...
2
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2answers
155 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 ...
7
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1answer
493 views

If I pay my partner an allowance, does she need to pay tax?

My partner is about to take a career break. We've got a lot of things like direct debits set up in her name which would be an effort to move, and I want her to have some cash to hand, so I'm planning ...
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0answers
203 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 ...
0
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1answer
70 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 ...
8
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2answers
265 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 ...
2
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1answer
77 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, ...
1
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1answer
25 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 ...
2
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2answers
97 views

Wrong Calculation on Income tax & P60

Please assist me with this Income tax question. For the financial year 18-19, a company paid a starting salary of £ 41,671.80 and gave a pay rise of 9.2 percent from 1st Oct 2018 which makes it 45,452....
2
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2answers
204 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, ...
3
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1answer
190 views

What is the difference between these 2 S&P500 tracking iShare ETFs?

Relevance of the following discussion How can a investor from the UK invest in the S&P500 without being exposed to currency risk? There are at least the following two low cost ETFs. If I had ...
3
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1answer
77 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 ...
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2answers
331 views

How to improve credit score and borrow money

I had pretty good credit rating, in October 2016 I was offered discount which i took but to my surprise, it was a credit card check that after checking decreased my credit rating. In December 2016, I ...
1
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1answer
70 views

What does “Sterling Hedged” mean?

In my portfolio I have a number of Equites and Bonds which are “sterling hedged”: What does this mean? I assumed it was related to GBP Sterling, but there’s an S&P which is “sterling hedged”.
6
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1answer
396 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 ...
1
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1answer
396 views

How many times do I pay rent?

First question here, apologies for any mistakes I have just finished renting my first place and have now moved to a new flat The Landlord of the previous place has taken a months rent for the ...
3
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0answers
70 views

Are US HSAs taxable in the UK?

I'm working temporarily in the US, but I'm from the UK. I have a Health Savings Account (HSA), which works similarly to a retirement account (penalties for withdrawals before 65, free thereafter; tax-...
1
vote
1answer
48 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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0answers
27 views

Transfer UK pension to AU super fund

Is it possible to transfer a UK pension fund over to an Australian Super fund? I am a NZ citizen currently working in the UK. I will most likely move back to Australia in a year or two, where I ...
2
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1answer
96 views

Ex-pat investing in the UK

I am young Brit, beginning my career as a scientist in Germany. Over the last few years I have accrued a sum which I wish to invest as long term savings, however the life of a scientist is one of ...
2
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1answer
79 views

UK Financial Ombudsman - Insurance Complaint

Apologies if this is the wrong 'stack' for this question, I did consider law, but a quick search of stacks showed insurance questions being asked here. I had car insurance, I was hit, they party had ...
7
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1answer
105 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 ...
2
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1answer
889 views

Filling in W-8BEN for a UK Ltd Company

I've recently started a UK Limited Company and I'm trying to fill out W-8BEN (Link here) so I can receive payments for showing ads provided by Facebook, but the terminology is totally foreign to me. I ...
1
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1answer
62 views

UK Capital Gains tax and Income

If a UK resident makes a capital gain of £25000 and has a state pension of £6000 are they liable for any UK tax, given that there is a capital gains allowance and a tax allowance?
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2answers
73 views

UK citizen with a full time job (in the UK) with a low pay US contract - Will this cause any issues with my tax return?

I'm a UK citizen who works full time for a UK company. I pay taxes directly through the company (i.e. they are taken out of my paycheck). I would like to start contracting part time for a US company ...
0
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3answers
204 views

Buying a flat abroad through British LTD company

I'm an IT contractor in the UK, I'm considering buying a flat in Poland, rent it on Airbnb or work remotely from there. I'm thinking if it's worth buying it through LTD company in my case. Would it ...
1
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1answer
68 views

UK limited company buying UK real estate: KYC and AML requirements

The situation is the following: Our family has setup a structure of companies to manage our investments into real estate. There is ACME Limited, a UK limited company properly registered in the UK, ...
1
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1answer
64 views

UK global consultant, living and working in different EU countries

I am due to move to Barcelona after living in Paris for 3 years, as property is cheaper there, but still close to international airport, which is ideal for my work. I now find myself in a situation ...
2
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1answer
201 views

Capital Gains Tax allowance sharing for married couples

A husband owns a flat (mortgaged). He is selling it after marrying earlier in the year. Some capital gains tax will be payable as he no longer lives there - the couple moved into a larger place ...
3
votes
1answer
181 views

US Citizen married to EU citizen, working for UK company and remotely for US company - Taxes?

A bit confusing to word the question, but I am a US citizen with a 5-year visa allowing me to work and live in the UK full-time (family member visa - wife is EU citizen). I work remotely as an ...
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2answers
100 views

Payroll pension contributions- UK higher rate tax relief

In the UK, a higher rate taxpayer who contributes to a pension scheme is entitled to pension relief to recover the difference between basic rate and higher rate tax for pension contributions. (HM ...
3
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1answer
55 views

Higher-rate Tax rebate on Pensions (UK)

Suppose you are a higerh rate Tax earner, and you pay into a monthly pension. As per these questions: Payroll pension contributions- UK higher rate tax relief UK income tax relief on pension ...
5
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2answers
1k views

What are the companies in the FTSE4Good UK 50?

I've been looking for a definitive and up-to-date (and reasonably regularly updated) source listing the companies included in the FTSE4Good UK 50 index (preferably by their LSE ticker code). This has ...
2
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1answer
91 views

VAT on building work

I have a quote for an extension which is £95 000 +VAT. I have been told by a friend who is a project manager/builder, that I could avoid paying this VAT if I set up a joint account with the builder to ...
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4answers
432 views

Mother wants me to “be a consultant” for her as way to save on income tax

My mother is self-employed and I am currently unemployed. She proposed an idea to me that I got a bit iffy about. She wants to pay me for "consulting services" -- this way she can essentially reduce ...
2
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0answers
50 views

As a UK Citizen, how do I sell shares on NZX?

I'm a UK citizen. Some time ago, I worked for a company based in New Zealand. The company went public on NZX and I ended up with some shares. I have never been to New Zealand and don't have any bank ...
1
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1answer
91 views

Placement student savings account

I have started a placement year (full time job for 14 months) as part of my university degree. I am looking to save a regular amount of money each month - something that would gain interest (if ...
0
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1answer
93 views

How is Barclays Everyday Saver interest rate calculated

I searched online and they said it's 0.25%-0.30% per year. But since my balance is ever-changing, how do they really calculate the interest? Do they just snapshot your balance on a certain day of a ...
4
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1answer
215 views

Is the British student loan considered the same as a standard loan when applying for a mortgage abroad?

I am currently living in the Netherlands and I have quite the accumulation of UK student debt, currently it's sitting at around £50000 but based on my repayment schedule, it wouldn't affect my ability ...
2
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2answers
448 views

Degiro Stocks & Shares Account for Minor

I am in the process of setting up an account with the stock broker 'Degiro'. In order to set up an account for a minor (currently 17 years old) they require it to be opened as a joint account, with ...
4
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3answers
165 views

UK Car Insurance Auto-renewal issues - premium doubled without reason

I recently received an Auto-renewal on my car insurance from my insurer. And it boggled the mind as it more than doubled the premium. It went from £960 a year to £1950. I caught up on the topic ...
3
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2answers
211 views

Received an unexpected windfall and have no skills or knowledge of finance (UK)

Good Evening, I work and live independently with a lifestyle that isn't lavish but is perfectly comfortable for my needs. Recently, I was the beneficiary of a sum that is about 10 times the amount of ...
2
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1answer
74 views

How exactly does AER work?

I am planning on opening a savings account and will be putting a fraction of my monthly salary into it, around £1000 each month. To calculate the interest generated, as the total in the account ...
5
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2answers
266 views

After the sale of my company, I’d like to make a cash gift to a friend who worked as an employee of my company

The cash gift will be paid from my personal bank account from the proceeds of the sale of the company. I will have already paid appropriate tax on the proceeds received from the sale as per the rules ...
0
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1answer
977 views

What is the UK-US tax treaty information relevant to IRS form W-8BEN for a private investor?

https://www.irs.gov/pub/irs-pdf/fw8ben.pdf I am looking to start buying shares in US companies, through brokerage firm 212. I need to fill in the above form to do that. What do I need to put in for ...
0
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1answer
77 views

Non UK company hiring local staffing

Do I need to issue any tax form to the local staffing we hired in UK for a small event? We are an Event company based in US.
1
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1answer
102 views

Corporation Tax Help?

I’m hoping some of you may be able to help, as I am not very well versed in the tax department. Here’s my situation: Last year, I started doing work for a company that required us to be self ...
6
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2answers
170 views

How do I open a UK bank account under the following circumstances?

Similar questions here and here, but neither answers my question The facts: I am a UK citizen. I am not a resident of the UK. I have not lived in, worked in or visited the UK for the last 7 years. I ...
0
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1answer
55 views

Does letting your main home while living away disqualify you from Private Residence Relief?

I have only one property and I'm living away from home. However, I have also been letting the property while I'm away. I'm confused by the information on gov.uk. On the one hand it says here: If ...
2
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1answer
57 views

HMRC have given SLC wrong repayment details after job change

I have a plan 1 Income Contingent Loan from the Student Loans Company. I started a new job at the start of this year. My new employer took a copy of the appropriate part of my P45. I am on PAYE for ...