Skip to main content

Questions tagged [united-kingdom]

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

Filter by
Sorted by
Tagged with
1 vote
2 answers
89 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
569 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
454 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
56 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
0 votes
1 answer
133 views

Can I buy stocks on Vanguard SIPP from UK

I currently have a SIPP account with HL. But I want to transfer my account to Vanguard as the annual account fee is much cheaper with Vanguard. However I don’t know and couldn’t find any information ...
MSBI-Geek's user avatar
  • 103
0 votes
0 answers
30 views

Releasing funds from SIPP without triggering MPAA

I find the MPAA rules confusing. I am not employed at the moment and would like to extract about 10K GBP from my SIPP this tax year. Does this trigger MPAA?
Nick's user avatar
  • 217
0 votes
0 answers
24 views

Filing a UK Company Tax return for 22/23- is it possible to bring back a trading loss from 23/24?

Whilst filing my UK company tax return for the financial year covering 22/23 in the section 'Trading losses', under 'Bring back a loss from a later period' is states the following: You can only bring ...
james's user avatar
  • 101
0 votes
0 answers
37 views

Why is the UK Corporation tax payment deadline before the company tax return filing deadline?

I've returned to contracting (as a software engineer) after 8 years of full time employment and am now working through my own LTD company. I mistakenly thought - as is the case with self assessment - ...
james's user avatar
  • 101
0 votes
1 answer
139 views

Why am I not getting a margin call when using all my available margin?

I'm in the UK and have several broker accounts, all of which have a 50% margin call requirement. I thought I understood how margin works and the reason for it. As I am a retail trader, I use 30:1 ...
Lyall's user avatar
  • 121
1 vote
1 answer
116 views

Do I need to charge VAT to other VAT registered businesses?

If I invoice a client who is VAT registered, and I am VAT registered, do I need to add on VAT even though they will claim this back from HMRC? I'm sure I've seen online somewhere where adding in a VAT ...
Joe Simpson's user avatar
2 votes
0 answers
81 views

Under UK law, what is the effect on inheritance tax liability of giving a gift back?

Scenario: a parent gives a gift to their child, but the child later gives the gift back. The parent then dies within 7 years of the original gift being given, and the child inherits the parent's ...
jl6's user avatar
  • 589
1 vote
1 answer
86 views

UK Mortgage buy to let and terms

England; I have a mortgage coming up for renewal in a few months. I bought the property about 7 years ago to live in it but my family outgrew it and we started renting a bigger house. I started paying ...
J. Doe.'s user avatar
  • 137
0 votes
2 answers
111 views

Fibre provider - new account holder

I am in England, UK. As the account holder, I got into a contract with a residential fibre optic provider for X per month and I am due for renewal. I pay out of my account through direct debit. The ...
J. Doe.'s user avatar
  • 137
1 vote
2 answers
75 views

How to resolve an error with my PAYE income tax reporting

My employer seems to have made a mistake when totalling the income tax on my 22-23 payslips and ultimately my P60 - I have found the month where this occurred, where the year to date tax column was ...
Mr_Thyroid's user avatar
0 votes
1 answer
1k views

Is the bank https://silverexchangebank.com scam or real [duplicate]

Is the bank https://silverexchangebank.com real or scam as they are asking 365$ amount to transfer funds from my Indian account. They are saying that we need to buy VAT as it is in UK and it is ...
umapendyam's user avatar
0 votes
0 answers
227 views

Setting up a limited company and appointing spouse as director for tax purposes

I am a programmer registered as a sole trader in UK, and I have around 40k GBP of annual income from my self employment. Apart from that, I also have a permanent job working for a UK employer, where ...
Andre Borges's user avatar
3 votes
0 answers
167 views

How does HMRC collect underpaid tax

In 2022/23 tax year, I was working for a UK employer and had a base salary around 100k GBP. My tax code was 1071T, which apparently means that I had a tax free allowance of 10710 per year (according ...
Andre Borges's user avatar
1 vote
1 answer
194 views

Why is the price of a 1 year to maturity bond so high?

I am looking at the 2½% Index-linked Treasury Stock 2024 bond and I can't understand why its price is so high (£377). There is only a year left!
Medan's user avatar
  • 553
0 votes
1 answer
114 views

Avoiding extra tax - UK

For the past 10 years I have been earning from an employed job, with all taxes paid before I receive my salary. (Around £60k) I have recently started to do extra work for which I receive the payment ...
Marzbar's user avatar
2 votes
1 answer
308 views

Are there any banks that don't require mobile phones for 2FA in the UK? [closed]

I have a current account with Santander, and when I make card payments over the internet they send me a one-time-passcode (OTP) in a text message, as a form of two-factor authentication (2FA). My ...
preferred_anon's user avatar
2 votes
2 answers
103 views

Is a stock ISA simply the account one uses to invest in investment platforms?

No matter what I read/watch, it isn't quite clear to me if a stocks/shares ISA is one of the following two: an account where I can put some money into, and then invest that same money (by linking it ...
user7077252's user avatar
0 votes
0 answers
53 views

What can somebody do with my IBAN? [duplicate]

I would like to start a business online, which would require people to pay me for service. I am in the UK. Because of a specific situation I'm in, private bank transfer is one of my only viable ...
and and's user avatar
4 votes
1 answer
269 views

What protection is there against profiteering by health insurance providers when renewing cover in future years (UK)?

I am assisting a family member who wishes to have health insurance in the UK. We have obtained quotes from a number of providers. However, these generally relate to the first year only. We ...
Adam Bailey's user avatar
1 vote
1 answer
88 views

What does being reported to the CRS entail?

I moved a few years ago from Italy to the UK. Recently, my Italian bank has sent me an email saying that they were going to report me to the CRS. Do I have to worry about it? What does that change for ...
bracco23's user avatar
  • 547
-4 votes
1 answer
205 views

How do I address my EE mobile bill doubling due to picture messages?

I have multiple numbers on my EE mobile account, including children. We are all getting charged for every Picture Message sent which is now doubling the EE mobile monthly bill! Other than simply ...
EleventhDoctor's user avatar
0 votes
1 answer
650 views

Stamp duty liability when adding partner to mortgage? (UK)

Good Afternoon, My friend and her partner have recently moved in together (England). Her partner owns a property which is now being let out, and she has added him to her mortgage. They were under the ...
andtodd's user avatar
  • 101
1 vote
2 answers
348 views

Investing on someone’s behalf UK

If I wanted to invest on my friends behalf for a percentage commission to them, do I need a license to do this? Is it as simple as registering with someone if this is the case?
Adam Pollock's user avatar
0 votes
0 answers
156 views

How do I actually spend a Virgin Experience electronic Cineworld voucher at Cineworld?

I have an electronic Virgin Experience voucher for cinema tickets for two at Cineworld. The voucher has a serial number (comprising letters and numbers) and a PIN. The Virgin Experience guidance ...
EleventhDoctor's user avatar
1 vote
2 answers
106 views

UK reg business (not vat reg) paying consultancy fee to the EU consultant (not vat reg)

My limited company is registered in England (not vat registered though). I need to make a payment to a consultant abroad in the EU who is not vat registered. Do I need to pay anything to the HMRC and ...
Alien_Explorer's user avatar
11 votes
1 answer
1k views

I gave items to a Charity Shop to sell, and signed up for Gift Aid on the donated items when sold. Should I put this on my Self-Assessment?

I gave items to a Charity Shop to sell, and signed up for Gift Aid on the donated items when sold. This increases the profit to the charity, who send me an annual letter informing me how much Gift Aid ...
EleventhDoctor's user avatar
0 votes
1 answer
30 views

Are Gift Aid payments deductible from the point of view of Child Tax Credit claims?

Can I reduce my declared income on my Child Tax Credit claim by my Gift Aided charitable donations made in the tax year?
EleventhDoctor's user avatar
0 votes
1 answer
19 views

How does the reduction in tax relief for mortgage interest on property affect Child Tax Credit claims?

As per Revenue Benefits: Changes to the tax system for landlords of residential properties mean that from 6 April 2017 tax relief for finance costs such as mortgage interest will be restricted to the ...
EleventhDoctor's user avatar
0 votes
2 answers
1k views

Are losses inside a stocks and shares isa tax refundable in anyway?

I invested 40k in stocks and shares isa. They lost value by 15k. Is there any way to make this tax deductible somehow? I hear rich people do stuff like this often. I'm still holding onto the shares ...
ZR ZR's user avatar
  • 1
0 votes
1 answer
107 views

Do I have to pay the stamp duty additional charge when purchasing a house abroad?

I am in the process of purchasing a house in the UK. I own another house in Italy. I work and live in the UK. Do I have to pay the stamp duty additional charge? If I do so, do I qualify for stamp duty ...
Blue Moon's user avatar
  • 227
0 votes
0 answers
93 views

Selling UK inherited shares when resident abroad in a non permitted jurisdiction

I have recently inherited a small number of shares from my mother. These are held by COMPUTERSHARE on behalf of AVIVA. I am executor and sole beneficiary and am trying to liquidate the estate. ...
Carol's user avatar
  • 1
3 votes
0 answers
132 views

UK taxes on rental income from abroad (Italy)

I have a property in Italy that is currently rented. I'm paying 10% in taxes as rent is at a rate agreed with the local council. According to the UK/Italy double taxation convention, it seems to me ...
Blue Moon's user avatar
  • 227
-4 votes
2 answers
703 views

I wanted to sell my coins In DHL is the scam or a real buyer? [closed]

Please 🙏 help me I met a buyer of coins in Facebook who are DHL and he wants a delivery fee is that a scammer? Because he want a delivery fee how is that impossible
Sanele 's user avatar
3 votes
1 answer
328 views

Can I use capital losses to offset income tax in the UK?

In the US, I am aware of the term called ‘tax loss harvesting’ where capital losses can be used to offset up to $3000 income. Is there a similar method in the UK to do this?
lemon-agent5's user avatar
0 votes
1 answer
62 views

As an overseas company owner, what are my tax obligations to the UK?

I'm a dual resident of the UK and Country X for tax purposes. I'm not employed in the UK or Country X. However, I have a single company registered in Country X, which has regular income. The income ...
user122795's user avatar
1 vote
0 answers
515 views

Removal of ex partner from help to buy scheme and mortgage

Context Mortgage and Help To Buy UK scheme is in two names. The house was purchased just over two years ago. So still some time before the equity loan repayments, for the Help To Buy kick in. I have ...
Dawdre's user avatar
  • 11
0 votes
2 answers
363 views

One residential property-two owners name in the title- One owner paid nothing

My wife bought a property in London six years ago with her colleague/friend. My wife and her c/f are joint owners as per the mortgage and land registry. But my wife's c/f never paid even a single ...
S G's user avatar
  • 1
2 votes
1 answer
70 views

How to calculate the cost basis of a company share that was received in an acquisition? (UK)

This is something I've been wondering about for some time now, and I think it's best if I explain my question through an example (I'm going to make this example hypothetical and very extreme just to ...
Amin Parvaresh's user avatar
4 votes
1 answer
156 views

How does moving overseas affect UK state pension and can you continue paying into it from abroad?

I am currently employed in the UK and am paying into the state pension. I am looking at moving to New Zealand on the young people's working holiday visa for up to 3 years, which is being extended to ...
fortunia88's user avatar
6 votes
1 answer
248 views

Can you use a tax-free lump sum to buy a second annuity?

My mother and I were talking yesterday about how she should take her pension (she's retired a couple of years before legal retirement age, which she's now coming up to). We've more or less decided ...
Keiji's user avatar
  • 163
2 votes
1 answer
184 views

In the UK, is it more productive to pay wages into a pension than put money into investments?

I am lucky enough to have a sum of money - about £40k - which I have no particular need or pressure to spend. I had been considering investing it in an index fund but one thing that concerns me is ...
Bob Tway's user avatar
  • 1,281
1 vote
0 answers
177 views

Should a UK-US dual national open a S&S lifetime ISA?

Context I am 24, live in the UK and just starting to think about long-term savings. I've heard that the UK lifetime ISA is one of the more effective ways to save for a first house/retirement. Since ...
Nik's user avatar
  • 11
1 vote
1 answer
73 views

What is the distinction between "earning untaxed income" and "acting as a sole trader" (UK HMRC)

I live in the UK and have a full-time job paid in the usual way under PAYE. In addition, I have received small amounts of income from various organisations (honoraria in return for activities ...
avid's user avatar
  • 494
3 votes
2 answers
549 views

Reinvesting money in an ISA within the same tax year

In September 2022 I withdrew £25,000 from a stocks and shares ISA. I pay in £200 on the 25th of each month to the same ISA. 11 payments since April 6th: £2200. I have just received £60,000. Before 5th ...
woter324's user avatar
  • 131
1 vote
1 answer
125 views

How do I calculate my deductions (income, national insurance, pension & student loan) for an income of 1 week?

I left Company 1 on the 22nd of September, 2022 My salary at Company 1 was £41,000. My P45 states that my: Total pay to date (at the time) was: £19,741.76 Total tax to date (at the time) was: £2,690....
nopassport1's user avatar

1
2
3 4 5
44