Questions tagged [united-kingdom]

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

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1answer
98 views

If my bank account was hacked via an insecure phone, would I be better off if I had warned the bank about it?

For environmental and financial reasons I have always used second hand or grey market mobile telephones. For work purposes I have general purpose computer kept as secure as possible, purchased new ...
3
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1answer
82 views

UK investor in US ETFs

I have a question which I hope you can help with. I am interested in an US ETF to invest in. Now, my current brokers Freetrade, Hargreaves do not offer US ETFs due to being identified as PRIIPS thus ...
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8answers
21k 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 ...
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1answer
53 views

When is the UK Gift/Inheritance tax levied?

This page sets out the rules for UK "gift tax" (a subset of inheritance tax) UK Gift tax is specifically designed to prevent people circumventing inheritance tax by giving gifts to their ...
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2answers
886 views

I can't find a desired ETF on the popular UK brokerage firms - how can I find one that does? [closed]

If I wanted to put money in a specific ETF, namely ARK invest (ARKK), but it wasn't possible on the top UK brokerage firms - what should I do next? So I looked on hargreaves lansdown, halifax, and 8 ...
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1answer
133 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 ...
3
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1answer
156 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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2answers
131 views

Do I pay tax on money I send myself in another country?

I live and work in the US. I am a resident in the US for tax purposes, but am not a permanent legal resident (H1-B visa). I am originally from the UK and have some financial responsibilities there ...
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1answer
164 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
294 views

Equivalence yearly salary (perm) and daily PAYE (contract) in UK

I have a permanent role in UK that pays £130,000 base salary plus a car allowance of about £6,900. I also receive a bonus (£20,000 per year). Finally my company contributes 10% to my pension plan,I ...
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1answer
17k views

Coin counting machines in UK bank branches [closed]

A colleague recently mentioned to me that many HSBC branches offer self-service coin counting machines - you tip a bag of loose change in, and it credits it to your account. No need to queue up and ...
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1answer
86 views

Will holdings in high-OCF pre-RDR non-"clean-priced" fund unit types eventually be converted to clean priced units?

As soon as it was practical, I made sure all my own fund investments were migrated to a platform with "clean priced" fund units available (and even before that I'd been making use of a trail-...
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1answer
50 views

Taxable Benefits in Self Assessment when taxed at source

I am presently completing my self-assessment for 2020/21 and due to my very simple financial situation I was expecting it to be easy. I was (and still am) a single person, employed by a single large ...
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4answers
5k views

Do I need to insure a large check when sending via mail?

My girlfriend has a bank account that is on hold because of a stolen debit card number. She recently signed a contract for 90k but has the first check in my name for 60k. She is stuck in London for a ...
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1answer
72 views

UK: is it possible to buy Vanguard Growth Index Funds (VGIX)? [closed]

Is it possible to invest in the Vanguard growth index funds if you're based in the UK? Either directly with Vanguard or via a broker. I asked Charles Stanley but they don't do it. Thanks
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0answers
37 views

UK capital gains tax for international student moving between countries

I am an international student who moved to the UK on 01/10/2018 and stayed there till 31/12/2020. I then moved to my home country of Singapore which has no capital gains tax on 31/12/2020 and will ...
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1answer
46 views

How is UK statutory redundancy pay affected by a switch to part time?

I know that UK redundancy pay is based on a week's pay for each full year worked, with some adjustment for age which we can ignore. There are also various caps and minimum periods to ignore. But ...
2
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4answers
3k views

Sending money to friends via Amex with PayPal UK

With the Platinum Cashback Everyday Credit Card, there is a 5% cashback reward for the first 3 months, up to £100. As such, I'm trying to maximise my spending during this period to make the most of ...
0
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1answer
90 views

How does let-to-rent tax work

I’d like to let out my home in London for moving out to the country where I’d like to rent a bigger house. Will I have to pay tax on the rental income without claiming the cost of the new rent?
3
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1answer
377 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 ...
0
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1answer
226 views

Why are the deductions so high on my payslip

My base salary is approximately £110,000 and I also get an annual bonus of approximately £30,000 paid in January. This December my employer gave out a flat bonus amount of £750 grossed up, so I was ...
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1answer
56 views

Calculate total NET payment with overtime hours in a partial month

I am trying to learn how to calculate the NET payment for a partial month and the overtime (net and gross) based on some random payments and facts I found from the past. I got stuck with a specific ...
0
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1answer
72 views

Will moving from the UK abroad mean I don't have to pay tax on my property income below my personal allowance?

I have a property in Scotland where I will earn under £10k on when I rent it out (currently I live in it) If I live in the UK at the time, and make say £40k I will earn a total of £50k with the ...
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1answer
53 views

Doing contracting work in a foreign country, who are taxes owed?

I have a question about taxes in relation to the following: A British citizen has a work permit in a foreign country (Ukraine). They work full time here. They also do contracting work remotely for an ...
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1answer
105 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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1answer
57 views

Level 2: What do the different order types on LSE represent?

Here are a list of successful trades from a Level 2 order book. The column to the left of the time the trade went through is the "trade type". It is usually one of three things: AT O Blank ...
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1answer
257 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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4answers
213 views

What's the minimum utilisation rate on a credit card that lets you build credit?

I don't need credit, but I want to keep my credit score as high as possible, for when I might want a mortgage or come across a credit card with nice rewards. I got a credit card with a borrowing limit ...
2
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3answers
185 views

In theory, what effect should an increase in the national interest rate have on corporate bonds?

The Bank of England is soon to announce if it's going to put its interest rate up or not. I own a lot of UK corporate bonds. Specifically, I have a big investment in one of those unit trusts that ...
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1answer
140 views

Payment sent to wrong SWIFT code but right account number (not IBAN)

I've just had a payment sent to me via Wise, from US to UK, but after a week the funds hadn't arrived and I double checked the details. I bank with Nationwide, but the sender has used their ...
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0answers
47 views

Capital gain tax from closing down the company in UK

I need help with filing form line 6 form 1040. we live in uk. my husband work as contractor for short term and he need to get pay through his own company. after few months it didnt work out and become ...
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1answer
56 views

SIPP pension withdrawal tax obligations (UK HMRC)

When investing in a SIPP you get tax relief. How much depends on whether you are a basic or higher rate tax payer. For this post, I am focussing on basic rate payer. My understanding is that when you ...
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2answers
118 views

Are there any consequences to letting an Amex repayment Direct Debit transfer fail, if a manual repayment is done before the due date?

I don't have enough money in my account to cover a Direct Debit Amex repayment scheduled for today. However, that repayment is set to come out of my account 10 days before the payment due date, by ...
2
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1answer
46 views

Is the higher income child benefit tax charge based on accrued or received payments?

People in the UK who earn over a certain threshold have to repay Child Benefit they or their partner received. Although Child Benefit is advertised as a weekly rate, it is actually paid ever four ...
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6answers
5k views

What are the tax implications of being paid for work in company shares?

I completed a project for a private limited company. They want to pay me in company shares worth £100K (as it is stated in our contract). I am trying to figure out what tax implications would I face ...
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1answer
92 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 ...
6
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1answer
924 views

How much duty will I have to pay importing 72 bottles of wine from Italy to UK

Since leaving the EU the UK now has to pay a customs and excise fee on goods imported into the UK. Every year my family purchase wine from a vineyard in Italy. This year we will have to pay the UK ...
3
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0answers
168 views

Are there any legal risks/implications of this indirect gold purchasing process

Setup: My wife and I live in UK. My In-Laws are UK expats currently living in Switzerland. They are investing some of their savings into Gold Bullion. (not interested in any assessment of that ...
3
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1answer
65 views

Monzo Business Account payments

Evening. Quick question realting to Monzo Business Accounts and making a payment from them. I have somebody who has one of these business accounts wanting to buy goods from me. They want bank account ...
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1answer
85 views

Clarification of income tax rules for farm staking rewards (UK)

In the UK we have to pay Income Tax on crypto farm staking rewards. I'm unsure as to at which point I'm legally obliged to pay income tax on staking rewards. Is it: As the rewards clock up on my DeFi ...
0
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1answer
83 views

Best way to pay taxes (German citizen living in US to work internationally)?

I am a German citizen living in the US on a J1 visa. I got an offer to work part-time remotely for a company in the UK. This company could hire me or I could work for them as a freelancer. Germany has ...
2
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1answer
66 views

VAT for imports from UK to EU for private customers after Brexit

Suppose I am a private person living in an EU country (in my case in Germany) and I want to order some products from a shop resided in UK. Suppose that I request the product via email and the UK shop ...
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2answers
84 views

Can I make use of my wife's Capital Gains Tax Allowance for gains under an EMI Share Option scheme?

My employer has granted me a number of share options under an EMI scheme. They also partnered with their brokers to allow us to exercise these options without needing to put up-front capital in to ...
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2answers
3k views

Is it possible to trade in UK's investment ISA after moving abroad?

I am EU citizen and the resident in UK holding an investment ISA. I will be moving back to my home country this year and I was trying to find out whether I would still be able to trade in my ISA after ...
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1answer
110 views

In the UK, from where does your employer take the money to put it into your pension scheme?

I have been reading about the UK workplace pensions schemes but I don't understand them very well. What I have read is that you can choose an amount of money, which is taken from your gross salary, ...
7
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1answer
914 views

Consequences of student debt in the UK after moving to the US

My British wife went to university in the UK from 2001 to 2005. She got a student loan with SLC and was never charged anything because her income was too low. She left the UK in 2011, never earning a ...
2
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0answers
133 views

Pay off my mortgage before getting another other?

I have a £70,000 mortgage on my house. I am about to come into £170,000. With this money, I want to pay off my mortgage. Turn my house into a rental property and use the remaining £100,000 as a ...
2
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1answer
406 views

As an US citizen living in the US, if I buy/sell stocks on the London Stock Exchange do I pay taxes to the US and the UK?

I am a U.S. citizen, living in the United States. I am interested in buying shares of a company that is traded on the London Stock Exchange, but not in the US (including as an ADR). I've tried ...
0
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1answer
104 views

Do I need to pay VAT when customers buys electronic tokens? UK

I run a website where customers can buy 'Tip Packs' and then spend these Tips on the site. The packs are a straight conversion - £10 = £10 worth of Tips to spend on the site. My question is, do I need ...
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2answers
153 views

Problem with the tax code on my first job

Hi I have a yearly income of 30000£ in UK, this is my first job and my tax code is 1210 L. I didn't get taxed for the first month. Could anybody please let me know whether I need to change tax code to ...

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