Questions tagged [united-kingdom]

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

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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 ...
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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 ...
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, ...
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2answers
264 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 ...
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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 ...
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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 ...
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 ...
2
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2answers
203 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, ...
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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”.
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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-...
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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 ...
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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 ...
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 ...
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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 ...
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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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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, ...
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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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 ...
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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....
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0answers
63 views

How to find accounts and pension in England with only name?

My father in law has worked in England for several years but moved to Denmark (current residence) he has a bad memory and thereby also bad control over his assets. Can we in any way find out which ...
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2answers
261 views

Create a limited company to speculate with leverage

I live in the UK and I am considering starting to trade on the stock market, having opened an account at a brokerage firm. I am considering using it to speculate on short term period with leverage. ...
2
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1answer
174 views

Why do UK Property developers/investors create a company for each property they buy?

I am currently researching on UK property development and buying. An interesting website for that is the https://beta.companieshouse.gov.uk/website. While browsing through it, it became apparent to ...
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0answers
61 views

Can I have a sidegig contract in the US if im fully employed in the UK?

My current situation is the following: I'm based in the UK. I'm working as a full time employee for a company X that has a client Y. We've finished some work for client Y and they have a US company ...
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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 ...
3
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1answer
583 views

What is the difference between these two share classes of an ETF?

I am looking up NASDAQ ETFs that can be purchased in the UK. What is the difference between: EQQQ https://www.londonstockexchange.com/exchange/prices-and-markets/ETFs/company-summary/...
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1answer
248 views

Mortgage Advisor recommending long term mortgage at first, with short term later. Advisable?

Issue and Background Having gotten a new job, I am moving out of my rented accommodation, and moving across the country to what is a far more expensive area, where I am buying a 45% share in a £260,...
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1answer
86 views

Mortgage in principle with several mortgage advisors (UK)

I am looking to buy my first home (UK). Because we are a bit nervous, we are visiting 3 different mortgage advisors with the intention of obtaining the best deal possible. All of them say that we won'...
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 ...
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1answer
132 views

Do I need to transfer the manufacturer's warranty to the buyer when selling a second-hand laptop?

I intend to sell a second-hand gaming laptop on Gumtree soon; it'll be my first time selling an item online, so I've done all the research I could to prepare for this. At first, I was convinced that ...
3
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1answer
39 views

UK Tax/Universal credit pension contributions for non earning partner

I understand that any pension contributions made by someone claiming tax credits or universal credit are deducted from the claimants earned income when assessing the amount a claimant is eligible for. ...
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0answers
41 views

Can non-citizens sell paper certificated UK stocks?

I inherited BATS shares listed on the LSE. I’m a Canadian citizen, and the shares are paper certificated. I’ve been trying to sell them for a year with no luck. Can I sell them without naturalizing in ...
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2answers
96 views

Accounting for VAT (and expenditure) on credit purchase

I'm VAT-registered. Suppose I buy something related to the business on credit (3% for 24 months) for £3000 (£2,500 ex-VAT plus £500 VAT). (These amounts are totally made up.) The payments are £128.94/...
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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 ...
2
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1answer
103 views

Tax implications of selling UK property as US residents, while keeping cash proceeds in the UK?

We are currently selling our UK property and complete in a couple of weeks. The original plan was to transfer the money to our US account and pay off our US mortgage, but the exchange rate is ...
4
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1answer
149 views

Am I required to issue tax forms for the users of my website (on which they can earn money)? [closed]

The website in question is a peer-to-peer platform. Users can contact each other and agree a fixed cost for a particular service. I take a percentage of the cost and the rest goes to the user who ...
2
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0answers
21 views

Applicabilty of COBS to PRIIPs

Under FSMA 2000 and the subsequent amendments, the FCA is empowered in the UK to develop rules and guidance for authorised firms to adhere to. These are generally captured in the FCA Handbook, itself ...
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2answers
265 views

What is the safest method of receiving payment for expensive items being sold on Gumtree?

I intend to try to sell a laptop on Gumtree. Since this is my first time selling something online, my knowledge of this is near zero. I've researched the safest ways to sell items on Gumtree and I'...
3
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1answer
97 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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1answer
52 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 ...
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0answers
63 views

UK: Will signing up for a mobile phone contract affect my credit rating?

Especially I would like to understand one thing: There are operators who offer contracts without credit check for people who otherwise would be denied because of for example a completely missing ...
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13answers
13k views

Considerations when providing money to one child now, and the other later?

I have two children. My oldest has a mortgage and pays interest on it. I have cash savings but do not earn significant interest on them. Since I don't need all of the money for myself, I would ...
3
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1answer
117 views

Does it harm my credit score if open multiple current accounts?

I'm currently trying out mobile app banks Monzo and Revolut, but I would also like to try N26 and Starling; all these on top of my regular current account. Would opening all these accounts affect my ...