Questions tagged [united-kingdom]

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

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1answer
38 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-...
3
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1answer
336 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
245 views

Order of matching for the “bed and breakfasting” CGT rule in the UK

I understand that the "bed and breakfasting" capital gains tax (CGT) rule says that purchases that occur 30 days after an asset of the same class has been disposed of should be matched together, as ...
0
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1answer
135 views

A resident of USA working remotely for uk company tax

If I am a double national (uk and us) .I am a resident of US and work remotely from us to a company locate in UK .The company pay for me income taxes in UK.Should I pay taxes again in US or can i get ...
8
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4answers
2k views

Does a US citizen freelancing for a US company while resident in the UK have to declare this for UK tax?

I am a US citizen living and working in the UK on a spousal visa. (My husband is British.) I've got the opportunity to do some freelance work for a US company on top of my full-time job, getting paid ...
6
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1answer
886 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 ...
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 ...
11
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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 ...
1
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1answer
49 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 ...
0
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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 ...
8
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2answers
714 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
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 ...
1
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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 ...
8
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2answers
199 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 ...
11
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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 ...
4
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1answer
203 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 ...
3
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1answer
66 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?
0
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1answer
38 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 ...
2
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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 ...
3
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1answer
77 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 ...
3
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0answers
51 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 ...
2
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4answers
545 views

Ready to invest but I'm overwhelmed with the number of brokers and services

I have £15,000 - £20,000 to invest for the long term and I've researched what I will regularly invest in to: Pension, Index funds, Bonds, small number of individual stocks (maybe) as well as my cash ...
3
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1answer
2k 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 ...
2
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1answer
479 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 ...
0
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1answer
98 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 ...
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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 ...
6
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1answer
17k views

Can a company run a credit check on me without my permission?

I understand that sometimes when dealing with companies over the phone or over the counter, they need to run a credit check. I would have thought that as a courtesy they would at least tell you this ...
0
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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 ...
2
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1answer
192 views

Does receiving Carer's Allowance count towards hours for Working Tax Credits?

I know this is the sort of of question that ought to be easily available on the gov.uk web site, but having searched for ages, and found conflicting information on external sites I'm looking for some ...
3
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0answers
45 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
26 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 ...
1
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1answer
41 views

Can previous historic losses offset profits made in the current tax year in relation to capital gains tax?

If I have invested for 5 years in a row and made loss each year, can I use those loses to negate any profit I have made in regards to UK capital gains tax? For example, if I made a loss of £1k for ...
1
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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 ...
0
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2answers
83 views

Can I use instant cash ISA for shares in UK?

Can I use instant cash ISA for buying shares in UK ? https://www.barclays.co.uk/savings/isas/instant-cash-isa/ What advantages I will get by getting a shares ISA in UK ? one side effect is paying £4 ...
2
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2answers
110 views

Can you transfer holdings from an ISA account into a regular broker account in-kind?

I haven't found any info on this. I learned that I cannot bring assets into an ISA (see e.g. here), but there is no mention anywhere about taking assets out of one. I know the government expects to ...
1
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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 ...
30
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6answers
16k views

What happens when a share price reaches £0 in the UK?

With all the coronavirus panic, I was wondering what would happen when the share price reaches £0 for a company, but the actual company itself or their business niche is not that much affected, i.e. ...
0
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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 ...
10
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4answers
2k views

How should I handle a request for payment from a bitcoin investment company to recover coins they sent to me that are “stuck in limbo”?

I made a bitcoin investment with a company online. The first return sent back to me was fine but the second has issues. They sent me an email like the first time stating that the money was sent but I ...
8
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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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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 ...
31
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4answers
8k views

'Gifting' a house in the UK

In UK news recently, there has been much talk about so called 'dementia tax', that is, the government using assets (such as property) to pay for social care in old age. Whether or not people should ...
0
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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'...
5
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1answer
109 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 ...
2
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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 ...
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 ...
2
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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
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 ...
1
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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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