Questions tagged [united-kingdom]

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

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1answer
137 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 ...
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0answers
84 views

How do I get a 'copy of a cheque'?

Sorry if this is a stupid question, but how do I get a copy of a cheque? I'm going through the process of encashment of some bonds which I received as inheritance, to do this I need to send over a ...
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2answers
225 views

Ryanair sent cheque instead of transfering money to the revolut account I used to pay - can I refuse the cheque and insist for the latter?

After a Ryanair flight cancellation and several e-mails, they've sent a cheque. Well, I have no physical bank account in UK and have no idea how to claim money from it; I have a Revolut account, the ...
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0answers
116 views

Can I convert a cheque to money in any bank? Is there a fee?

After a Ryanair flight cancellation and several e-mails, they've sent a cheque. Well, I have no physical bank account in UK and have no idea how to claim money from a cheque. Plus, I suspect I will ...
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1answer
41 views

Can previous historic losses offset profits made in the current tax year in relation to capital gains tax?

If I have invested for 5 years in a row and made loss each year, can I use those loses to negate any profit I have made in regards to UK capital gains tax? For example, if I made a loss of £1k for ...
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0answers
26 views

Do I pay vat on digital goods from EU in the UK?

As a B2C purchase I am wondering if I should be charged for VAT. The company is from Spain I am from the UK I have found it hard to pinpoint an answer for this online.
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1answer
49 views

Vanguard Stocks and Shares ISA - pay tax in US?

If a UK citizen (only citizen in the UK, having no residency in the US or any other connection with the US) opens a Vanguard Stocks and Shares ISA and buys US stocks (e.g. in the form of VUSA), does ...
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0answers
20 views

Santander scrip dividend shares - how to calculate base cost for UK capital gains tax

I own various Spanish shares and often receive scrip or stock dividends in lieu of cash. When I come to sell how do I work out the base cost of the shares for UK capital gains tax purposes? I know it ...
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3answers
144 views

How do I calculate the equity I have in my home when overpaying on mortgage?

I am aware that when paying off a repayment mortgage the proportion of monthly payments going towards the interest is higher towards the start and eventually the proportion lowers towards the end of ...
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2answers
110 views

Can you transfer holdings from an ISA account into a regular broker account in-kind?

I haven't found any info on this. I learned that I cannot bring assets into an ISA (see e.g. here), but there is no mention anywhere about taking assets out of one. I know the government expects to ...
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1answer
73 views

Do I need a customs label when posting share certificates internationally (UK to USA), and if so what should I write on it?

I live in the UK but have some old share certificates registered with the company registrar in the US (the EQShareownerOnline site). I want to convert them to DRS (Direct Registration System) ...
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4answers
2k views

How should I handle a request for payment from a bitcoin investment company to recover coins they sent to me that are “stuck in limbo”?

I made a bitcoin investment with a company online. The first return sent back to me was fine but the second has issues. They sent me an email like the first time stating that the money was sent but I ...
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1answer
89 views

How permissable is it to declare a summary of trades (verses detailed) when creating a tax return?

In a scenario where I have invested £10k in an *asset class over 5 years, in this time I have done 1000s of transactions on different exchanges and bought and sold many different assets, a lot of ...
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0answers
60 views

Is personal allowance used up by being paid in America?

I have just started a limited company in the uk and I’ve been contracting my services since jan 1st 2021. Previously I was being paid by an American company. All tax etc. was done in America and I was ...
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7answers
3k views

Does it make sense to get a second mortgage on a second property for Buy to Let

I am a UK resident and home-owner with a mortgage that is 2.5 times my pretax annual salary. Having investigated the price of my home now since I bought it, I was pleasantly surprised by the return on ...
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4answers
109 views

How can I check my credit score in the UK?

How can I check my credit score in the UK, and what is the safest way to do this? e.g. should I use https://www.experian.co.uk/? I am keen not to do anything that may risk hurting my credit score. (...
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0answers
46 views

Implications of brexit for UK-EU personal purchases and sales

Until December 2020, I was happily in a customs union with a lot of other countries. If I needed to buy a hard disk for my computer, it was often cheaper (including shipping) or more likely available ...
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0answers
67 views

Stamp duty first time buyer renting after 6 months

I'm looking to buy my first house, but I'm only planning on living in it for 6 months or so before going cycle touring next summer (covide dependant..!). I'd like to rent it out for 6-12 months after ...
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7answers
4k views

UK - Can I buy things for myself through my company?

this is a UK-based question. I understand that there are certain purchases that you can make using the revenue of your limited liability company, and this is beneficial as you are using money that has ...
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1answer
35 views

UK-based freelance invoicing overseas

I work as a freelance (sole-trader) doing web-related services. I have a potential client who is based in the Dominican Republic, but I am not entirely sure what I should bear in mind regarding tax-...
6
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1answer
291 views

How do I stop a homeless person’s benefits from coming into my account?

This whole situation occurred in England where I attend university. Back in early December, a homeless person (X for short) I’d previously talked a couple of times to approached me. X told me they ...
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2answers
407 views

What is my registered address for UK car insurance?

I am about to buy a car and I need to put down my registered address for both the car insurance and VC5 logbook etc. I own a house in City X, and this is where I work and vote etc. However, due to ...
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1answer
51 views

How complex is submitting self-assessment tax for foreign income in the UK?

I'm a US citizen resident in the UK. I have the opportunity to do some contract work for a Spanish company that would earn a relatively small amount of money - a one-off payment of less than €1250. ...
8
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1answer
98 views

Should I Charge Customers VAT Before Receiving My VAT Number?

I am very close to surpassing the VAT threshold. I’ve currently taken £80,525, and my next payment is due on Thursday. I told my client that I will have to charge them VAT on the next payment, which ...
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1answer
73 views

About to inherit assets located in Italy as a UK resident. Any tax liabilities, and if so, where?

I live, work, and pay my taxes in the UK. Sadly, my mother recently died. I am about to inherit some of her assets, which are all located in Italy, where she lived. I'll be inheriting a 25% share of ...
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1answer
60 views

Do I pay UK VAT for digital services provided to a company in Denmark?

My situation I'm a UK based freelancer who provides website development services. I'm a limited company and VAT registered. I provide my services on an online platform based in Denmark. This platform ...
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0answers
17 views

Filing a VAT report on exports from EU to UK

I'm exporting services (no goods) from the Czech Republic to the UK. Until now, based on the Czech and EU regulations, I put no VAT charges on the invoices; however, I still had to report the amount ...
4
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1answer
91 views

Do I need to pay tax or declare money my parents send me from abroad?

I'm EU national, I've been living in UK for the past 10 years, I'm a permanent resident here, working full time. My parents live abroad, they've never lived in UK and they will never move here. They'...
2
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1answer
155 views

UK taxes and cryptocurrencies

I live and work in the UK. I work at the company, so my employer handles the income tax. I also own some stocks but I keep them in stocks and shares ISA, so I don't have to pay tax on them. Now let's ...
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8answers
7k views

Is 0% APR ever a bad idea?

I have recently purchased a few large items of furniture for my new home and paid a ~25% deposit on these. To pay off the remainder I can pay in full or pay monthly with a 0% APR payment plan. e.g I ...
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2answers
128 views

Does the FSCS protect accounts held in Euros in the UK?

In short, I have a personal current account with a UK bank which holds funds in Euros. Is this account protected by the UK Financial Services Compensation Scheme (FSCS)? If so, is the limit based in ...
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1answer
63 views

How is income tax residency determined for person staying in multiple jurisdictions in a year

Suppose I stayed in multiple countries in a year for significant durations ( say 3 months each in 4 nations) and further assume that double taxation avoidance treaties are in place so how does one ...
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1answer
147 views

How can one lose money with VTI? [duplicate]

I am 26 and beginning to learn about investing. I currently have no investments other than some schemes through my employer, which I've already maxed-out. I've read that VTI is a long-term, low-risk ...
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1answer
81 views

What is the reasoning behind 1 ISA subscription per type per tax year

I get that, in each tax year, you can pay-in up to your ISA limit (at the moment £20000) into any number of - or create new - ISA accounts, so long as it's only one of each type. So you can create a ...
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0answers
24 views

Is it possible to get a mortgage in the UK with a Tier2 ICT Visa

I currently live in the UK under a Tier 2 ICT visa and have been contemplating the idea of buying a house. Would I be able to get a mortgage with this kind of visa?
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0answers
47 views

How do I write a letter to HMRC claiming higher rate tax relief?

I understand I can write to HMRC to get tax relief on my pension contributions instead of waiting to do a tax return. Would this letter do the trick? and what address to I sent it to? Date: [Current ...
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2answers
83 views

Can I use instant cash ISA for shares in UK?

Can I use instant cash ISA for buying shares in UK ? https://www.barclays.co.uk/savings/isas/instant-cash-isa/ What advantages I will get by getting a shares ISA in UK ? one side effect is paying £4 ...
2
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2answers
465 views

With an interest-only mortgage, why is the sale of the house not considered a repayment vehicle?

I am looking into interest-only mortgages. Why is the property which you are buying with the mortgage not considered a repayment vehicle? Selling the property would be enough to pay back the mortgage. ...
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1answer
77 views

IBAN to SEPA converter

I have a UK bank account, and the IBAN number follows this example format as expected: GB45 LOYD 6016 1331 9268 19 When I log onto the Spanish utility company Iberdrola, I select the UK from the ...
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1answer
52 views

State pension and gifting property in the uk

As I understand it,when you live in the UK,when you gift property to a child and still live in the property they must charge the going rental for your area.If your total pension including state ...
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6answers
8k views

Why do real estate agents always ask me whether I am buying property to live-in or as an investment?

Trying to buy a house. Along with -- what is the maximum you are willing to pay -- this is the most frequent question. Why do they care whether I will live in it or rent it out? The two are not ...
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3answers
184 views

Should I transfer funds for the cash-purchase of a 1-bed Flat before the contracts are exchanged?

My solicitor is recommending to speed things along by transferring the funds for a flat I am buying (leasehold, cash-buyer) to the account of the law firm. We are waiting on final costs from the ...
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3answers
146 views

How does the pension contribution work in the UK?

I do not understand the basics and every source online is just entering into a whole load of details without clarifying what is going on with my money. The contract states that the company will match ...
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1answer
83 views

Can I transfer my HL LISA to a HL Stocks and Shares ISA without affecting my ISA allowance?

I have a Hargreaves Lansdown LISA and am concerned that the £450k limit may be too restrictive in the future as I am not planning to buy any time soon (and I am living in London). Since the ...
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0answers
13 views

UK investment: Can a 1 year Convertible Note or Advanced Share Agreement (ASA) work for EIS tax relief?

HMRC have limited EIS on Advanced Share Agreements (ASA) to 6 months. That is, the conversion to shares must be limited to within 6 months for an ASA to get EIS relief. That's a big restriction on UK ...
4
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1answer
126 views

What counts toward the tax free limit for pension contributions in the UK

I understand I can contribute up to 40k (or 100% of salary) in one financial year, and I will receive tax relief on these payments. I was working on this assumption: employer pension contributions + ...
1
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1answer
70 views

Gifting money to non-relative (Germany to UK)

I am considering helping out someone I know with living expenses in the UK (so it would be gifting money from Germany to UK). This person is not a part of my family. One thing I have to consider is, &...
2
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0answers
24 views

Transferring tax-free trust fund proceeds from UK to Japan

I should be coming into a reasonably large sum of money from a trust fund in my and other family members' names being dissolved (or whatever the correct technical term is) such that if I was domiciled ...
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1answer
137 views

A resident of USA working remotely for uk company tax

If I am a double national (uk and us) .I am a resident of US and work remotely from us to a company locate in UK .The company pay for me income taxes in UK.Should I pay taxes again in US or can i get ...
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1answer
74 views

Is it worth opening an ISA at the moment? [closed]

I'm looking to open a long term savings account, something to regularly put money into but not withdraw. I can't find an ISA or regular savings account which pays more than 1.5% and investment ...

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