Questions tagged [united-kingdom]

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

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31
votes
8answers
21k views

Under what circumstances can a bank transfer be reversed?

Under what circumstances can a UK high street bank reverse, refund or cancel a bank transfer and do they need to contact the account holder beforehand? I had been under the impression that if I log ...
18
votes
6answers
2k views

Buying a house with my new partner as Tenants in common. How do we work out what is fair for us both?

My new partner (7 years new!) are buying our first house together. We are both in our late 40s and have been divorced for some years. I have more equity to put down to purchase the house, but he earns ...
1
vote
2answers
166 views

Share Options Vs Salary

In my current role my base salary is well below market value for my experience and responsibility. Ive also been awarded some share options and pay in to a share save scheme at the same time. I have ...
0
votes
0answers
99 views

How do I safely transfer money from a US bank to a UK bank?

I am currently living in the UK after many years in the US. I want to safely transfer some money from my US bank (Ally bank) to my bank account in the UK. (Ally Bank doesn't do international transfers,...
1
vote
0answers
59 views

Is it a legal requirement to put your VAT number on a receipt? [closed]

Someone recently complained to our business that our receipts didn't have our VAT number on them. If anyone ever requests a VAT receipt/invoice then we draw one up manually, otherwise, we just issue ...
0
votes
3answers
207 views

If I owe £100k as a directors loan, do I have to pay back £100k

If I have a directors loan of £100k taken out in the UK and I am now look to pay this back. Would I be looking to pay the full £100k or is it calculated differently? I am slightly confused here, when ...
5
votes
1answer
190 views

How do I organize my investments to generate the maximum tax free income - in the UK?

I want to organize my investments to maximise the use of annual tax free allowances in the UK. Assume no income from employment, so Investment Ideas to maximise use of the Personal Allowance are ...
6
votes
1answer
232 views

Effect of withdrawing money on ISA contribution allowance

If I haven’t put my ISA allowance in this year but have taken £12,000 out of my ISA, how much can I put in for that year?
2
votes
0answers
27 views

UK - Do I need to file final accounts when striking off an empty <12 months old company?

I would like to strike off an empty UK ltd company which is <12 month old and has never done any business and has no employees. My accountant has advised me I don't need to file final accounts ...
0
votes
1answer
88 views

How to get UK company share certificates when an entrepreneur does not comply?

In January 2020, I made an investment of £7,500 being promised that I would receive the respective share certificates related to UK company. After that, the pandemic became the excuse but the ...
2
votes
1answer
406 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 ...
1
vote
0answers
106 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 ...
1
vote
2answers
303 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 ...
1
vote
0answers
130 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 ...
1
vote
1answer
50 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 ...
2
votes
0answers
30 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.
0
votes
1answer
58 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 ...
3
votes
0answers
30 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 ...
1
vote
3answers
164 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 ...
2
votes
2answers
126 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 ...
1
vote
1answer
162 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) ...
10
votes
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 ...
1
vote
1answer
96 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 ...
3
votes
0answers
66 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 ...
9
votes
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 ...
3
votes
4answers
120 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. (...
6
votes
0answers
92 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 ...
2
votes
0answers
77 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 ...
10
votes
8answers
6k 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 ...
1
vote
1answer
44 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
votes
1answer
331 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 ...
8
votes
2answers
439 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 ...
2
votes
1answer
63 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
votes
1answer
105 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 ...
1
vote
1answer
82 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 ...
1
vote
1answer
69 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 ...
1
vote
0answers
20 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
votes
1answer
149 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
votes
1answer
169 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 ...
38
votes
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 ...
4
votes
2answers
239 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 ...
1
vote
1answer
71 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 ...
0
votes
1answer
214 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 ...
4
votes
1answer
95 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 ...
1
vote
0answers
35 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?
0
votes
2answers
90 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
votes
2answers
485 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. ...
0
votes
1answer
104 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 ...
0
votes
1answer
56 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 ...
32
votes
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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