Questions tagged [united-kingdom]

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

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1answer
64 views

NRE to foreign account transfer

Can I transfer money from my Indian NRE account to my sister's savings account in UK bank?
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2answers
27 views

IT Contractor Working for UK Client

How does an IT contractor provide consulting services from India to a UK Client? Do we need to open a IT Services Private Limited Company in India or are there other options, also helpful on how much ...
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1answer
241 views

Do I need to get a mortgage when using the Lifetime ISA?

I am using the Lifetime ISA and was wondering if it's possible to use the money to buy a first home without getting a mortgage at all. For example, if I have enough money in the LISA, perhaps together ...
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1answer
51 views

getting money transferd from abroad, from my parents would i get taxed?

im originally from japan but living in the UK permanently on spouse visa now. my parents transfer money from japan to my british bank every now and then like £8000 every year as a gift, doest this ...
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0answers
28 views

Have changes to mortgage standard variable rates ever diverged much from changes to base rate?

Historically, although SVRs tend to be a few percent above base rate, has any lender's SVR ever made a drastic change that wasn't caused by a change in base rate? This is in the context of risk of ...
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9answers
7k views

Should I buy a nicer house in a worse area for less than I budgeted?

I am a single male in my mid twenties, based in the UK and looking to buy my first home. I see this home as a 'stepping stone' home and intend to live in it for 5-15 years until I get a partner and ...
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0answers
25 views

UK First Time Home Buyer Government Programs - ISA

I am currently looking for my first house to buy. I looked at https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/, The Help to Buy ISA had been closed to new accounts at midnight on 30 ...
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0answers
24 views

Consumer Contracts Regulations (2013): Returns and Exemptions

This question is regarding the Consumer Contract Regulations (2013) in UK law. I have chosen to post on here, rather than law.SE, since my question is regarding monetary refunds for items purchased. ...
2
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1answer
300 views

Fraud of HMRC check?

I have quick question. I have been informed by HMRC that I overpaid income tax. However, I never received any check in post. It turns out it happened not long after I moved form, one address to ...
3
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2answers
194 views

Should I tell my landlord that I am considering not renewing?

My lease is up for renewal in the not so distant future. My landlord recently contacted me to say they want to increase my rent by 2%. Which is not itself much, but the rent was already pretty high. I ...
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1answer
270 views

What does “LAWS” mean when appearing in a bank statement?

Some of the transactions on my bank statements have the code "LAWS" appearing in them, followed by a 6 digit code. It is also preceded by the payer's name. Does "LAWS" mean anything in finance ...
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0answers
33 views

Selling an unsettled trade?

Here is my scenario. I purchased shares via my online broker in a placing. I never received a placing document or signed an order, my online broekr signed for me. The Trade date was 17th June ...
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1answer
40 views

What is the difference between an “Electrical Installation Condition Report” and a “Domestic Electrical Installation Certificate”? [closed]

UK landlords ought to be aware of the EICR (and if you're not, you need to be). What is the difference between an "Electrical Installation Condition Report" (EICR) and a "Domestic ...
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3answers
140 views

Soft credit search without my permission

I recently bought a wallpaper sample for £1.99 online from a well known decorator company. I did not apply for credit for this purchase and paid the full amount at the time of purchase. I have since ...
2
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2answers
348 views

Sage Instant Accounts or Quickbooks? [closed]

I am a small business, single employee IT contractor looking for accounting software to do my annual returns and vat returns in the UK. I've researched a bit about QuickBooks and Sage Instant ...
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1answer
107 views

Questions on Index fund dividends

I wanted to ask a few questions regarding Index funds and its dividends. The questions are the following: If I decided to invest 10k into an Index fund and contribute monthly around 100-200 and ...
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1answer
427 views

How to obtain “Negative Equity Insurance” aka “Home Equity Protection” aka “Equity Protection Policy” in the UK?

I'm searching for an insurance policy to protect against negative equity on a residential real-estate. The risk I'm trying to protect against is that house prices will fall. I'm looking for ...
3
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1answer
386 views

Bank transfer to fake or fraudulent recipient

I have made a bank transfer from my UK account to another UK account but then I have realised that the recipient's name was fake and I got scammed. I requested my bank and the recipient's bank the ...
4
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1answer
82 views

Refund to Different Payment Card in UK

I'm in the UK. I bought something online from Debenhams, and want to return it -- it is within the return period; no problems there. However, I no longer use the card that it was bought on. Is the ...
154
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10answers
40k views

My friend wants to put my name down for a house he's buying. What risks would I be taking?

My good friend, who I have known since we were kids, asked me for a favor today. He originally intended to get a house with his now ex-girlfriend so that he could invest in one and later on, sell it. ...
2
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0answers
27 views

Tax taking out pension exceptional circumstances (UK)

I used to live overseas where I had a private pension pot. Due to covid19 exceptional circumstamnces, the country has allowed to take out 25% which I've just received in my UK bank account. How this ...
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2answers
149 views

For a risk-averse investor, is it ever justifiable to invest in real estate over an index fund?

Let's say I have a chunk of cash sufficient to cover a 50% down payment on an average house (£600k). Or, buy an inexpensive house outright. Let's also say I must use the money for real estate—I cannot ...
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0answers
59 views

Starting a side business whilst full time employed

I'm currently employed full-time in a regular job, and pay income tax at the higher rate. I'm looking at setting up a very small side business which may make around £500-£1000 at the moment. I'm ...
12
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2answers
1k views

Ok to use U.S. Visa gift card internationally?

My daughter received a Visa gift card for Christmas that does not contain a chip. She wants to use it when she travels to the U.K. in April. Will it be accepted?
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0answers
66 views

How can I get the best income from letting out a Large Garage in Hertfordshire, England [closed]

I have a large garage space in Hertfordshire, England (13.6 metres long by 4.7 metres wide) with its own drive and entrance. Any ideas how I can maximise income from this by letting it out. I will ...
4
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1answer
150 views

Do US delivery companies pay out insurance if the declared value of a package is $0?

I'm in the UK and about 6 months ago I sent some sports cards to a friend of mine in the US to get professionally graded through PSA✝. This took a while due to the pandemic, but PSA has now returned ...
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0answers
31 views

UK Student Loan Plan 1 overseas repayment

I moved to the states sometime ago and made a mistake in ignoring the fact I had a few thousand left on my UK student loan, I thought I could just log on and pay off the balance in full as soon as I ...
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0answers
79 views

Tax implications surrounding self-employment/startup of US citizen in UK

For a US citizen residing in the UK, what are the major considerations and pitfalls to consider before starting a business (online)? Does it matter whether the business would cater almost exclusively ...
3
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1answer
56 views

Report interest to HMRC - less than personal savings allowance

[UK] Do I need to report to HMRC if I earn less than £1,000 (personal savings allowance (PSA) basic rate taxpayer) in interest? I also have CGT of less than £12,000.
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2answers
94 views

Capital gain tax on airdropped or gifted cryptocurrency

Let's suppose I receive 100 XYZ tokens this week without conducting any service in return and sell them a week later. My understanding is that I have to know the fair market value of one token at the ...
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2answers
62 views

When a company buys property, can it reduce tax to the point of achieving a net gain?

"‘Our main priority is to highlight the large number of empty buildings in London and to try to ensure they don’t go to waste when there are so many homeless people,’ Jed Miller, one of the anarchists ...
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1answer
106 views

If you want to buy a house but you also think value will drop… is there something you can do to alleviate the risk?

Disclaimer: yours won't be fiscal advice. People involved will consult a professional before doing anything. This is just to gather some preliminary information. Situation: you want to buy a house ...
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1answer
86 views

Crypto-cashback debit card tax (UK)

I have a pre-paid VISA card with a 2% cashback paid in cryptocurrency in every purchase. I was wondering how this is taxed?
8
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1answer
87 views

I have two citizenships, a different coutry of residence and I'm studying abroad. Where do I pay taxes?

Background I have dual citizenship, Italian and Belgian My permanent residence is in (mainland) Spain I'm studying at a university in the UK (specifically, Scotland) Question I recently started to ...
30
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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 ...
2
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2answers
83 views

If I donate something to charity can I claim tax back based the price in £ I originally paid for it?

Or can I only get back what the charity can sell it for? What if they use it rather than sell it ie donating old furniture to a shelter or an old TV assuming I still have the receipt or even bigger ...
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1answer
56 views

Supposing the same amount, has a contractor the same cost (6K + VAT) of a employee (6K) for a company?

If you are a employee, supposing a gross salary of 6000 gbp for 12 months, excluding taxes and NI, you could earn monthly about 4200 gbp (according with a tax calculator https://www.moneysavingexpert....
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0answers
19 views

What fees do CREST Depository Interest (CDI) shareholders have to pay on a regular basis?

In the US, depository banks for ADRs usually charge depository fees to the owners of ADR shares. To collect the fees, the depository bank could reduce the dividend paid to ADR owners. The fees are ...
1
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1answer
59 views

US companies' shares traded on London Stock Exchange

I noticed that there are a number of US companies whose shares are traded on London Stock Exchange. Let's take Netflix as an example. In the US, it is traded as NASDAQ:NFLX but in the UK it has ...
2
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0answers
30 views

Business banking insurance above FSCS £85,000 [closed]

In the UK, the Financial Services Compensation Scheme (FSCS) provides insurance for bank deposits up to £85,000. Is there an insurance (or financial product) that provides coverage above this ...
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0answers
20 views

Can share losses from previous tax year offset property capital gain in current tax year

I made a loss in stock market in previous years with the total amount of £40,000. This was declared in my self-assessment. This year, I made capital gain from selling a BTL property and profited £45,...
8
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1answer
168 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 ...
1
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1answer
30 views

Understanding UK split years and double taxation agreements

From Residence, Domicile and Remittance Basis Manual 12010: If during a year the individual starts to live or work abroad, or comes from abroad to live or work in the UK, the tax year will be split ...
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1answer
55 views

Should trades be averaged under the “same day” capital gains tax rule?

Say you have the following list of trades: Buy 100 XYZ at £50 a share on March 1st Buy 100 XYZ at £51 a share on March 1st Sell 200 XYZ at £60 a share on March 20th This would result in a net profit ...
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2answers
70 views

Should I opt out of NEST pension scheme as a young worker?

I am working in the UK. It's my first permanent job and I've discovered on my last payslip a line named NEST Pension Scheme. I googled a bit and I have discovered what it is but first, as it seems to ...
1
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1answer
108 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 ...
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2answers
29 views

What kind of agreement needed to work as a contractor for UK company from India

If I want to work for UK company as a contractor from India (Remotely Software developer) then Do I need to Make any legal agreement in India or UK?
2
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1answer
36 views

Is there any tax liability for non-residents who withdraw investment income into a UK bank account?

Let's say Bob is a resident and tax domiciled somewhere outside the UK, e.g. Singapore. Bob opened a stock brokerage account with a European broker, and the account is funded through a UK-based ...
1
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1answer
94 views

How to mitigate price fluctuations between placing a mutual fund sell order and it actually being executed?

Just like many others, my wife and I make use of a DIY investment platform; a company who gives us the ability to buy different types of products (funds, ETFS, stocks, etc.) through a single entity. ...
2
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2answers
174 views

Will not paying rent in the UK due to loss of income (COVID) be reported on the credit score file?

Background: Landlords do not have to pay their mortgage. Landlords will also be protected as 3-month mortgage payment holiday is extended to Buy to Let mortgages At the end of this period, landlords ...

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