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Questions tagged [united-kingdom]

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

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2 votes
1 answer
117 views

Currency refund from bank

Ordered currency from bank in February but it didn’t turn up and bank refunded me. It’s now arrived what do I do?
Jackie Washington's user avatar
5 votes
4 answers
3k views

Parents' house repairs and siblings future inheritance

My sister and I will in the future each inherit a 50% share of our parents' house. The house needs immediate significant repairs, amounting to tens of thousands of pounds. I am prepared to pay the ...
i-am-penguin's user avatar
2 votes
1 answer
83 views

Voluntary National Insurance contributions for missed years as a student - is it worth it?

I'm a student in the UK. For this reason I have not been working full-time, leading to gaps in my National Insurance contributions (NICs) - 6 years and a total of £4400, to be precise. I could ...
user19642323's user avatar
0 votes
1 answer
66 views

UK - Best way to receive payment in Italy

I will receive a one-off payment of roughly EUR4000 for work to be carried out in Italy. What is the best way to receive this money and have it transferred to a UK bank account? Should I have the ...
lux's user avatar
  • 101
1 vote
0 answers
94 views

Can I be held liable for tax obligations by simply accepting Ordinary Shares without further action?

I've been granted the opportunity to accept a certain number of Ordinary (voting) shares with a nominal value of £0.01 each, along with an exercise option. This option allows me to exercise these ...
nop's user avatar
  • 111
0 votes
1 answer
89 views

how to invest in short term UK government bonds at x-o.co.uk brokers?

I have some money idle at my x-o.co.uk ISA. as interest rates are quite healthy, I'd like to invest in UK government bonds of a few months terms. no idea how to do this, as I'd need the ticker codes, ...
Commenter's user avatar
1 vote
0 answers
55 views

UK SIPP allowance

If I have 10k of rental income and 10k of earnings from employment? What is the maximum amount I can pay into a SIPP? I assume this would be 8000 and (plus SIPP automatically reclaim 20% income tax, ...
Lost1's user avatar
  • 193
5 votes
2 answers
1k views

What date in a tax year to invest in an ISA?

There is a well known result that if you have to choose the best option from a set of randomly distributed options then you should sample the first 37% of them, then from the remaining 63% select the ...
John Rennie's user avatar
4 votes
2 answers
630 views

Is it feasible for a small retail UK resident to buy UK inflation-linked GILTs directly from the issuer?

I'm interested in buying individual inflation-linked GILTs directly in the primary market (directly from the UK Debt Management Office). To give some context, I want to do this as I understand the ...
Martel's user avatar
  • 1,281
2 votes
1 answer
68 views

Furnished Holiday Lets - UK Tax - max duration is 30 days, what if two stays during the year?

I have a guest staying in May this year for 30 days in my furnished holiday rental. They want to return again in September for another 30 days. The Letting Condition in HMRC rules says: You must let ...
atreeon's user avatar
  • 155
0 votes
1 answer
72 views

Calculating return on ISA

I'm based in the UK and trying to calculate how much I've made in my ISA. Below is a mock-up of the monthly investments and how I calculate my returns where I take the current price divided by the ...
leesin's user avatar
  • 9
0 votes
1 answer
30 views

UK Limited Company with Std VAT Rate - Do I need to pay Corp Tax on VAT reclaimed on business purchases

I have a small business in UK and it is VAT registered (Standard rate). When I make a business purchases such as a laptop I reclaim VAT from HMRC. For example I bought a laptop worth £1200 (1000 + 200 ...
MSBI-Geek's user avatar
  • 103
0 votes
0 answers
74 views

Do I need to report income for a non-profit Japanese club in the UK?

I'm setting up a Japanese club for kids in London, UK. The idea is that parents would pay into a community account and we would hire native speakers to run lessons/events, rent out a venue, etc. The ...
AnotherVinyasa's user avatar
0 votes
1 answer
145 views

First-time cash buyer buying a leasehold flat with 57 years remaining

Intro There is a flat in London that has 57 years left on the lease and the seller/owner has to sell it within 6 months because banks don't give mortgage due to financial circumstances and age which ...
BentCoder's user avatar
  • 103
1 vote
1 answer
58 views

Lifetime ISA (LISA) eligibility with foreign spouse who owns property abroad

I want to open a Lifetime ISA in order to buy a house in the future. I'm a UK citizen and have never owned property. My wife is a foreign citizen with UK residency, and owns property abroad that was ...
Joseph's user avatar
  • 111
0 votes
1 answer
83 views

Student Loans as an Overseas Company Director

The lack of documentation on my situation is slightly infuriating, so hoping someone else in a similar position has got it figured out! I moved to Hong Kong 6 years ago from the UK and started a few ...
Anon's user avatar
  • 41
3 votes
1 answer
94 views

UK SDLT surcharge when buying additional garden land

I am in the process of purchasing some of a neighbour's garden to extend the garden of my main (and only) residence. The purchase price is well below the SDLT threshold but I cannot find any official ...
phil-lavin's user avatar
0 votes
3 answers
203 views

Overpaying monthly or annually

I'm coming to the end of my fixed mortgage, and starting to think about remortgage deals. My remaining term is 30 years with outstanding amount of £122,000. I'm able to save between £900-1500 a month, ...
P P's user avatar
  • 1
2 votes
1 answer
262 views

Should I Salary Sacrifice everything except minimum wage, if I can live off savings?

Summary: We live off savings, don't need my salary, should I 'salary sacrifice' everything to our pension except minimum wage, for the NI savings? We (me, wife and son) live entirely off my savings, ...
Martin Home's user avatar
1 vote
1 answer
64 views

Can DWP withhold money when you receive inheritance?

My uncle (T) has been in and out of gainful employment for years, so much so he has had over 20 full-time positions by the age of (almost) 60. Inevitably he's let go, sometimes receiving redundancy ...
spikey_richie's user avatar
3 votes
2 answers
83 views

capital gains liability of holdings "transferred" out of ISA?

I have an ISA with Freetrade. I bought shares of Arrival between 2021 and 2022. Arrival has been delisted. Freetrade has notified me: Further to our previous notification, this stock fails to meet ...
jhnc's user avatar
  • 265
4 votes
1 answer
2k views

Advice for investing money for a 15-year old

Hope this is on-topic for here. I'm looking for some advice on the best way to handle a pension. I would like to have the money paid into an account for my 15-year old daughter. The lump sum is about £...
DreamingOfSleep's user avatar
1 vote
2 answers
221 views

Can the UK devalue government pension schemes?

UK government funded roles are notable for offering defined benefit pension schemes in an era where defined contribution schemes are the norm in the private sector. I'm interested in current NHS and ...
P. Hopkinson's user avatar
2 votes
1 answer
153 views

Child Tax Credits are ending. Why would they send me a renewal pack?

Child Tax Credits are ending in 2024 and eligible users are migrating to Universal Credit. The letter ending Child Tax Credit payments for someone not moving to Universal Credit nevertheless states ...
EleventhDoctor's user avatar
2 votes
0 answers
59 views

Tax and selling a property in the U.K. before moving to Canada

I would appreciate some advise on this: If you sell a property in the UK to move to Canada, and then transfer the money from the sold property to Canada, will you have to pay tax in Canada on the ...
ichi's user avatar
  • 21
9 votes
2 answers
2k views

What happens to pension schemes when they run out of beneficiaries?

At a very crude level: Beneficiaries put money into pension schemes (actually, their employers pay into the schemes on their behalf, but w/e, money goes in). The pension schemes pay money back to ...
P. Hopkinson's user avatar
11 votes
5 answers
5k views

Is exceeding the U.K. Personal Savings Allowance - and being taxed - a bad move?

I’m based in the U.K. and in 2022 inherited approx £370k I did not have any debts, except a mortgage on my main and only home, which I paid off in full. I made use of my full £20k ISA limit over the ...
user avatar
1 vote
2 answers
240 views

Why is fully comprehensive car insurance cheaper than third-party only?

I have recently found that my fully comprehensive car insurance quotes have been cheaper than third-party only policies. I had assumed it was just random differences between policies rather than any ...
User65535's user avatar
  • 440
0 votes
0 answers
48 views

UCITS ETF Capital Gains Taxes Different Depending on Stock Exchange?

If a certain UCITS ETF is domiciled in Ireland and is traded on both the Swiss SIX and London LSE exchanges (same ISIN but traded on both exchanges), will the tax implications (or broker’s automatic ...
MTC's user avatar
  • 1
4 votes
1 answer
112 views

Disbursing money for jointly owned asset: tax implications (two individual humans)

Say, as individuals, you are receiving money for a jointly owned asset, the proceeds of which you intend to split 50/50. The buyer wants a single account to send the money to. Each of the sellers has ...
Dan's user avatar
  • 153
1 vote
3 answers
310 views

The best way to maximise saving for early retirement

I'm 23 and working as a software engineer in the UK. I've made a point in wanting to start saving for retirement as early as possible in order to retire younger. I'm looking for the most effective (...
Matthew Bradley's user avatar
4 votes
1 answer
114 views

How do NI Qualifying Years work if you're self-employed *at a low rate* AND employed

In order to receive a full UK State Pension you must accrue enough "Qualifying Years". I (think that!) I understand how qualifying years work if you're just employed. And I (think that!) I ...
Brondahl's user avatar
  • 2,395
3 votes
1 answer
111 views

Apportionment of buy-to-let mortgage interest

I live in the UK and am a higher rate taxpayer (40%). If I have a buy-to-let property, I understand I can claim mortgage interest relief at 20%. Effectively I can only use half the interest as an ...
James James's user avatar
0 votes
0 answers
78 views

Self employed UK freelancer using a US-based contractor

I'm currently working as a freelancer in the UK and registered as self-employed sole trader. One of the things I'd like to do is use the services of another contractor who is a US citizen that lives ...
Kakalokia's user avatar
  • 101
2 votes
0 answers
167 views

How do I reduce the interest I'm paying on unused student loan?

I am studying at a US university, on a student loan from a UK company - funds are paid directly to the university. The loan provider already disbursed the loan amount to my university's finaid ...
spatial's user avatar
  • 21
0 votes
2 answers
61 views

TAX Advice Loan Notes

I moved to the US on the 21st of December 22 (E2 Spouse Visa). Before leaving I sold my UK company which completed on the 20th of December 22. The deal was structured so that part was cash payable on ...
Wattey 's user avatar
3 votes
2 answers
258 views

Why does our home insurer want to know details of a previous policy with another insurer?

Our house has some external 'staircase' cracks, and is likely affected by subsidence. We have got in touch with our insurance company about this, and they have started the process of investigating the ...
8128's user avatar
  • 131
2 votes
0 answers
101 views

How does the Bed and Breakfast rule affect capital gains tax calculations when it spans across tax years?

The B&B rule confuses me a bit since disposals are matched with future acquisitions (done within 30 days). What happens to tax calculations (for each tax year) if the tax year ends in between the ...
George Flourentzos's user avatar
3 votes
1 answer
108 views

UK tax treatment for structured products with capital at risk

An important class of investment instruments available to retail investors are structured products (SP). These are usually designed to display income-like features (coupons) but whose occurence or ...
Daneel Olivaw's user avatar
2 votes
1 answer
293 views

The last 3 digits swift code entered wrong branch. I asked to recall the international transfer. Where is my money could be?

24 Nov 2023: I send £9000+ from the HSBC UK to Cathay United Bank Taiwan. The money arrived to intermediary bank (CITI BANK UK) soon. And the HSBC app tracker shown the transfer is in progress for 5 ...
TanTanYueng0303's user avatar
2 votes
1 answer
122 views

Keeping personal and business finances separate, tax-wise, in two different countries inside Britain?

I live in Scotland and am about to start a very small business that will print books and sell them using Amazon as a dropshipper. The business will take the form of a company registered in England and ...
Harry Macpherson's user avatar
1 vote
1 answer
140 views

Can an individual in Britain sell through Amazon with no government registration (see details) other than their National Insurance number?

If you are an individual – not a one-person company, not a partnership, not an HMRC-registered sole trader, not self-employed, not VAT-registered – and you want to register in Britain with Amazon as a ...
ool's user avatar
  • 111
0 votes
0 answers
77 views

Are all my sources of income considered when calculating the repayment of my student loan?

Actually, I have two questions. I have a student loan income-based repayment, from my studies in the UK. Are any other income sources rather than my salary considered?. For example, a rent I get from ...
MARIA's user avatar
  • 1
3 votes
1 answer
422 views

In the UK, if I pay tax on both PAYE and Self-Assessment, where will my savings interest be taxed?

Like a lot of people in the UK fortunate enough to have savings, the higher interest rates mean that I will be getting more than the £1000 tax-free allowance on savings interest. Unlike a lot of ...
Bob Tway's user avatar
  • 1,281
0 votes
0 answers
185 views

Can a 13 year old in the uk hire an employee?

I have a 13 year old child who would like to start a company as a sole trader, can he employ someone as his business idea involves having an employee.
Jhusky's user avatar
  • 1
1 vote
2 answers
85 views

Exceeding UK annual pension allowance

Due to changing circumstances, I think I might exceed my UK pension allowance for the tax year 23/24. As I understand it, there is a tax charge for this at the marginal rate of Income tax. Is this tax ...
Rob's user avatar
  • 113
12 votes
7 answers
11k views

How can I receive money without giving away my identity?

I am in the UK. I have won an online gaming competition in an extremely toxic international community. The prize is about $500. I do not wish to give any identifying details to this community. The ...
J. Mini's user avatar
  • 607
3 votes
1 answer
458 views

Can you buy an annuity before age 55 in the UK?

I wish to retire young. To estimate how much I would need, I have hunted around the internet for any way to estimate how much an annuity paying £30,000 a year would cost for a 40-year-old man with no ...
J. Mini's user avatar
  • 607
4 votes
1 answer
381 views

How can I open a student bank account when I am getting rejected for not having enough credit history?

I am presently a university student in the United Kingdom. I attempted to establish a student bank account through HSBC, but my application was declined due to a poor credit score. After some online ...
top ROOKIE's user avatar
0 votes
1 answer
55 views

Delay Self Assessment Return

I am a international student holding a residence visa. A month ago, I began my degree program, and I have some income from a non-ISA savings account. I recently noticed that the deadline for filing my ...
top ROOKIE's user avatar

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