Questions tagged [united-kingdom]

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

195 questions with no upvoted or accepted answers
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7
votes
1answer
6k views

Tax treatment of dividends paid on short positions

If a retail investor holds a short position when the stock goes ex-div, they must therefore pay a dividend to the buyer of the short. What is the tax treatment for this dividend payment the investor ...
6
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1answer
626 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 ...
5
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0answers
46 views

UK Employer Pension - can I transfer *part* to a private pension?

I'm employed by a large UK company (actually an American company, but the subsidiary). I have a (I think relatively standard) employer-provided money purchase pension, which I've been paying into for ...
5
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0answers
61 views

Using an estate agent's solicitor

I know using a mortgage advisor connected with an estate agent is a bad thing to do. It reveals to them how much money you have and means you risk paying more. However, I've now reached a state where ...
5
votes
2answers
245 views

State pension from UK when a moving back to Spain after working only 10y in UK

I am a Spanish citizen who has been living in UK for the past 7 years. During this period I have always worked here and I haven't received any income from Spain. I have also regularly contributed to ...
5
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0answers
136 views

Euro rental income earned in Spain but can it be paid in Sterling in UK

I am a UK national with a property in Spain. The tenants of this property currently pay the monthly rental in Euros to my Spanish bank account but have asked if they can change this arrangement and ...
4
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0answers
45 views

Renting out property - individual Vs company

I live in England and have a flat in Scotland that I now want to rent out. I am a higher rates tax payer. What is my best option for maximising the money I keep after tax from this rental property? ...
4
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0answers
43 views

Income tax rules when spouses are tax residents for different countries (specifically France and UK)

I know tax laws are country specific and in case of spouses living in two separate countries they may depend on the specific countries due to tax treaties so my question cannot be asked in all ...
4
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0answers
209 views

How long must I wait after buying a property to rent it out?

I bought a place as a first time buyer without mortgage. Consequently I paid a 3% stamp duty. Due to certain circumstances, I will have to rent it out. I would like to know how long before I could ...
4
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0answers
171 views

Capital gains tax and HMRC. What is the definition of a lodger and is there a difference between a friend staying a few months and a lodger?

I have two friends living with me and they only pay bills (no rent) and I wondering if I would be liable for CGT on the period they live there? I don't take any rent from them at all and they are ...
4
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0answers
90 views

Having worked overseas and accrued a pension, can I transfer it to my country of origin?

As a Brit who worked in South Africa for a few years and accrued a pension, now I've returned is it possible to transfer said pension tax-free to a UK pension provider (SIPP or otherwise)?
4
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0answers
453 views

Capital Gains Taxes for multi-year vest RSUs UK

Assume that you work for a company in the UK that grants you a number of RSUs to vest in a multi-year schedule (as per usual), for example, a vest event every 6 months for 2 years. The RSUs are valued ...
3
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0answers
53 views

Swiss citizen work from abroad for UK company - tax queries

I am a Swiss citizen and have been in the UK for two years. I am now working from home for my company for the forseeable future. I already spent around five months working from home during the first ...
3
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0answers
31 views

Would a UK resident who pays tax to a foreign country on dividends (of less than <£2,000) need to file Self Assessment for this reason?

Suppose an American expat taxpayer living in the United Kingdom earns dividends on U.S. stocks that fall below the UK's tax-free dividend allowance of £2,000, and this is the only income they have ...
3
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0answers
27 views

US Tax treatment of dividends from single member consulting firm, a UK Private Limited Company

US citizen in UK has a salary from one firm which includes National Insurance withholding, and also owns a UK Private Limited Company to which client payments are made for his consulting work. UK tax ...
3
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0answers
34 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 ...
3
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0answers
102 views

When do UK creditors pursue a debt after the debtor has died?

According to StepChange, creditors don't normally pursue a debt of someone who died if there isn't a large estate: Most unsecured creditors will normally write off a debt (like a personal loan or ...
3
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0answers
43 views

Tax on crypto earned as income but sold later

Suppose I do some work as a freelancer in exchange for Ether tokens, but I do not sell them right away. I hold them for a while, but eventually dispose of them within the same UK tax year. Do I have ...
3
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0answers
79 views

In general, does “the market” prefer or dislike bottom-floor apartments/flats?

I can see both many pros and many cons of living in a bottom-floor apartment, as opposed to one on any other level/floor. I'm undecided myself, actually. However, I'm asking about what the general ...
3
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0answers
107 views

UK student loan default payment for living abroad is lower than how much I should pay based on earning. Can I just pay the default?

I'd like to preface this by saying that if I am legally required to pay the higher amount, then of course I will. But as any human (presumably), I would prefer to pay less. I am also on Plan 1 for ...
3
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0answers
104 views

Life insurance documents sent to wrong e-mail address. What are my options?

Some time ago I applied for life insurance online, and to my utmost incredulity (it never happened since I started using the Internet) apparently I misspelled my own e-mail address. A host of ...
3
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0answers
128 views

Contractors IR 35 tax burden: is it less than people thought?

With the introduction of the new IR35 legislation in UK, many contractors caught inside IR35 are going to pay more taxes. The most popular tool for the calculation of the tax burden among ...
3
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0answers
322 views

Removal Company Behavior - Is it a scam?

I have just relocated from the Uk to France, and I have agreed with company A to make the removal of all the items in my house for around 5,000 £ (a good price, but not too good to be true in my ...
3
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0answers
125 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-...
3
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0answers
197 views

I want to be a landlord for a family member. How do I structure my mortgage?

My father-in-law is wanting to live the remainder of his life in a nice bungalow near our family. I've agreed, in principle, to be his landlord. Let us work with the following numbers: House price ...
3
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0answers
50 views

Capital Gains Tax and Main Residence

If I changed my main residence 4 years ago, but did not inform HMRC, then can i register for the dates i actually changed my main residence when i sell my older property, in order to avoid paying more ...
3
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0answers
300 views

Motley Fool US v UK?

Does anyone know the relationship between the Motley Fool US and the Motley Fool UK? A few years ago, fool.co.uk was a lively web site with very active forums. Then it changed into something that ...
3
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0answers
68 views

How to report contributions to UK pension (USS) on US taxes?

I am a United States citizen living and working in the United Kingdom. I am enrolled in the Universities Superannuation Scheme pension plan. Do contributions to this plan need to be reported on my ...
3
votes
1answer
290 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 ...
3
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0answers
56 views

UK taxes on US investments with UK resident wife and US resident husband

If my wife moves to the UK for 9 months in the same calendar year and becomes UK tax resident is she liable for our USA worldwide investment income by HMRC? She does not work, I work in USA. We both ...
3
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0answers
193 views

Transfer of stocks and shares ISA as a Non-UK resident

I am a UK/German citizen currently living in Germany. When I left the UK for Germany I kept my stocks and shares ISA in case I should ever return to the UK. Whilst I know that I cannot add funds to ...
3
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0answers
171 views

Australian freelancing in UK

I am an Australian citizen and resident for tax purposes, but I have recently moved to the UK and planning on staying here for around 6 months. I have a valid working visa. I have picked up some ...
3
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0answers
155 views

US/Irish Citizen Working for a US company while living in UK--Worth it?

First off, i'm sorry if this has already been asked. I've made the decision to move to London with a friend and I need some guidance. I've been interviewing with a few really good companies in London ...
3
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0answers
108 views

Moving between countries at the middle of Tax year to reduce progressive tax impact?

Soon I will be relocating from US (H1B visa) to UK. I am not a citizen of these two countries. Since both of these two countries have progressive tax system I have come to conclusion that it would be ...
3
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0answers
88 views

Are foreigners who buy UK ETFs subjected to a withholding tax?

Currently, when a foreigner buys U.S ETFs, the dividends or income (in the case of bond ETF) will be taxed at 30%. Suppose a foreigner, say an American or Singaporean, buys a UK bond ETF. Is there a ...
3
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0answers
111 views

Indian Taxation policy on UK (foreign) income

I am looking for some advice. My wife and I have a joint NRO account in India. Here in the UK, I am a higher rate tax payer (40%). We sold a house in 2012 and although that required tax in India, it ...
3
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0answers
76 views

What is the economically rational way to fund leasehold property management?

I am trying to find a company to manage the block of flats (apartment building) I live in. What is the economically rational way to pay for property management services, According to traditional ...
3
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0answers
986 views

UK taxation for options and futures trading

I live in UK and I see that there are 2 taxes when trading: CGT to be paid on capital gain and is 18% or 28% depending if you are basic tax payer or not income tax on any interest or dividend ...
3
votes
1answer
454 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 ...
3
votes
1answer
177 views

How exactly does AER work?

I am planning on opening a savings account and will be putting a fraction of my monthly salary into it, around £1000 each month. To calculate the interest generated, as the total in the account ...
3
votes
1answer
151 views

Tax relief on UK salary income

I am tax-resident in the USA and non-resident in the UK. I receive income from my former UK employer (in the form of stocks vesting in the UK) on which I pay UK income tax. Is this type of income ...
3
votes
1answer
144 views

Is there an accepted standard for how US tax system treat UK ISAs for expats?

For US citizens living in the UK, the US tax system treats UK pension contribution and withdrawals pretty much like the UK does. Tax-free contributions, taxes due on withdrawals. Just like a ...
2
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0answers
45 views

Has anyone done the process of starting an LTD to trade stocks in the UK? What is required?

I have stocks into a personal account. As you can imagine, if I want to sell and buy during ups and downs, I'll have to account for tax every time I make a profit, even though this is fully reinvested ...
2
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0answers
22 views

How should I categorise/record an “account adjustment” on my current account?

Santander failed to notify me of an interest rate decrease on my student current account from 3% AER to 1% AER, which I noticed a few months after the change. I submitted a complaint to them over the ...
2
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0answers
61 views

Can I use my personal savings to pay the limited company of which I am the director?

I'm an IT contractor (UK). I work and invoice through a limited company. When the pandemic began I was on a voluntary break between contracts. Obviously the market went very quiet. I decided to ...
2
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0answers
138 views

What happens to wages when you go bankrupt? (England)

I am having a difficult time keeping up with my payments during the pandemic after being furloughed since March. I have contacted StepChange and they have advised me that the best course of action for ...
2
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0answers
107 views

UK - What difference would having a “paying guest” lodging in your house make to your home insurance?

I am currently in the process of buying my first house, and had thought about potentially letting out the spare room to a lodger some time in the future. Having just paid for a home insurance policy, ...
2
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0answers
72 views

What are the tax implications of an American buying shares in a UK company?

I'm interested in investing in a UK based company that does not have shares on an American exchange. I had asked a question about if that was possible over here and since the answer was yes, I started ...
2
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0answers
28 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 ...
2
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0answers
47 views

What kind of inventory accounting does the UK use?

I'm in a bit of a pickle with regards to my tax residency. I am not sure whether I should pay my Capital Gains tax in the UK or Romania for the 2019 tax year. I made a lot of transactions last year, ...