Questions tagged [united-kingdom]

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

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16
votes
3answers
2k views

How to deal with a relative's hoarded cash without being accused of money laundering

An elderly relative has been hoarding cash for many years, due to a distrust of financial institutions. Whenever his (multiple) pensions have been paid in, he withdraws most of it in cash and stores ...
2
votes
1answer
92 views

I've heard ETFs have issues for Americans living in the UK - what should I do if I'm looking for similar long-term growth & flexibility?

I am a U.S. citizen living and working in the UK and want to invest some of the income that I currently have sitting in savings. However, my U.S. based income is 0 (I take the Foreign Earned Income ...
1
vote
0answers
27 views

Selling Asset to Own Company and Recording as Directors Loan

So I've set up a limited company (in England and Wales) and I want to sell some of the equipment I bought for this company prior to incorporation so that I can claim back the VAT. However, there's not ...
3
votes
5answers
2k views

If you never see the dividend for a fund, why does the ex-dividend date matter?

I'm currently invested in an open-ended fund. As I understand it, neither I nor my broker see its dividend. We just wake up on the payment day and see that the unit price of the fund has moved more ...
1
vote
1answer
238 views

Can you get car insurance without a driving license?

My car insurance is coming up for renewal soon. Me and my girlfriend (EEA foreigner) are insured on our car. I'm totally fine and have no problems, I've always had a standard UK license. My girlfriend ...
1
vote
1answer
101 views

What are expenses that must be kept in mind when investing in the stock market? [closed]

I live in the UK and am gathering information about stock market investment. I am not interested in day trading at this time. I became interested in stocks due to reading about news related to Tesla ...
2
votes
1answer
133 views

I received an invoice with a due date in the past, is it valid?

I recently received an invoice from a company requesting immediate payment. The due date on the invoice was before the issue date of the invoice and I received the invoice around 10 days after that ...
4
votes
1answer
328 views

Income tax code changes mid year - what exactly is your personal allowance for the tax year?

Suppose that your United Kingdom tax code changes mid way through the tax year e.g. your spouse successfully applies for the marriage allowance, which increases your personal allowance. Does this mean ...
2
votes
1answer
458 views

So I was used as a money mule and now I have a CIFAS marker I desperately need to get rid off?

so some time back I was used as a money mule without realising by someone I trusted very much. Once he had everything he wanted (money) he then blocked me leaving me with a debt of more than £5000. I ...
3
votes
3answers
237 views

What is a good starting point for a new investor?

Firstly to clarify, I am not looking for financial advice, I am trying to find out where is a reasonable starting point for someone who has no experience, some cash in an ISA and is risk averse. I've ...
0
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0answers
107 views

Can you make money by predicting the average house price in the UK?

It feels like this should be possible, much like how you are rewarded for predicting the value of stocks. I'd like to find the best way to do this that's as accessible as buying & shorting stocks (...
0
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1answer
101 views

Inheritance Tax example

Mr and Mrs A sold their house in 2013 for 1.5 million . They have 2 children. They bought a new home in 2013 and decided to allocate capital to their two children Date Child 1 Child 2 2013 200k ...
1
vote
1answer
207 views

How do I invest in an index fund in EU? (or UK)

I have almost €70,000.- saved and after reading about index funds, I got very curious. I am a Spanish citizen living in the UK, and I assume there are some tax implications that I am completely ...
0
votes
2answers
163 views

Equivalence yearly salary (perm) and daily PAYE (contract) in UK

I have a permanent role in UK that pays £130,000 base salary plus a car allowance of about £6,900. I also receive a bonus (£20,000 per year). Finally my company contributes 10% to my pension plan,I ...
0
votes
0answers
41 views

US tax implications for UK EMI (Enterprise Management Incentives)

I am a dual US/UK citizen, permanently resident in the UK. I have a job offer which includes EMI (Enterprise Management Incentives), also known as share options. As a US citizen, I have to file a US ...
2
votes
0answers
119 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
votes
0answers
105 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 ...
9
votes
1answer
132 views

What to expect from subsidence repairs

Our house is being damaged by subsidence. The insurer agrees and has accepted liability (actually, passed it on to a specialist third party). At present they are monitoring the situation and ...
2
votes
1answer
292 views

Lack of transparency in house buying process between buyer, agent, and seller

I'm in the process of buying a house. I have put in an offer on a house. The agent says he is waiting for other offers. He could come back to me and say someone else has put in X amount above asking ...
0
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0answers
34 views

Money Transfer to UK

I bought a holiday apartment in Goa some years ago. I had an NRI account. The bank then changed it to an NRO savings account. I sold it three years ago and the money was paid into this account. I wish ...
4
votes
1answer
177 views

What are my options for storing a large amount of money for less than one year? [duplicate]

We've just sold our house. We had been planning on buying another immediately, but our purchase fell through and we have now moved into a rental. Consequently, we have >£100k of cash on hand and ...
1
vote
1answer
90 views

UK ISA buying US stocks

I was wondering how stamp duty and tax works with buying and selling international stocks e.g. US companies. I currently don't get charged stamp duty when buying US stocks with my broker and have not ...
2
votes
1answer
102 views

UK Stamp Duty - corona virus changes

I am about to buy my first house in UK with my girlfriend (price is £250,000) I also own a house in Poland, that my dad gave me in his will (its value is over £40,000) Recently it was announced in UK, ...
30
votes
4answers
17k views

Tips on making a best and final offer

Me and one other buyer have been asked to make our best and final offers on a house after us both making initial offers. I believe I am in a good position as stated here and I will reiterate this to ...
4
votes
0answers
47 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 ...
3
votes
0answers
29 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 ...
2
votes
2answers
1k views

How to get an offer on a house accepted?

I really like a house and I am prepared to put in an offer at the asking price. I think this is a good price for this house considering the current value of houses in this area and from my personal ...
1
vote
1answer
125 views

Wiill banks refuse my application for a current account if I don't pay a salary in?

I want to apply for a second current account to put funds into and also for some perks that they have (I don't want any interest due to religious reasons). But my salary will not be going into this ...
3
votes
2answers
144 views

Do I have to declare an income below my Personal Allowance?

I'm in the UK and planning to start a side business. The income from my current job doesn't exceed my tax-free Personal Allowance of £12,500 a year, nor do I currently expect the income from this ...
3
votes
1answer
91 views

Cash ISA restrictions in the UK

I'm trying to understand the restrictions on putting money into cash ISAs in the UK. Currently, the government homepage says "Every tax year you can put money into one of each kind of ISA. The ...
0
votes
1answer
55 views

How to declare taxes as a UK contractor working remotely for a US company

I'm a resident of the United Kingdom, and I work remotely for a US company. I have a contract, and I get paid monthly, but I choose my own hours, usually working about 20 hours a week. I provided a W8-...
5
votes
3answers
317 views

Purchasing a house with parent-in-law's money, temporarily [duplicate]

Say I am about to purchase a £200,000 house (moving house, rather than first-time buyer), and can get a mortgage for the £120,000 difference I need. But, my parents-in-law have offered to loan us the £...
1
vote
0answers
79 views

The best/cheapest way to get money from Moldova to pay bills in UK

I would like to withdraw money from my foreign account outside Europe (Chișinău (Moldova)) and deposit it in a UK bank account, as it has become clear I will be staying in the UK for a longer time ...
6
votes
1answer
73 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 ...
8
votes
3answers
1k views

Are traditional pensions still optimal in the 21st century? [closed]

I have long had an issue with traditional pensions, I searched around and found some people at least seem to share some similar thoughts. In short, my concerns are: Too restrictive (you can't use the ...
3
votes
1answer
217 views

UK Cash Gift Amount

My grandparents are gifting me £7000 towards the cost of buying my first home. Depending on the price of the house I buy, this will probably go towards the deposit, fees associated with buying a house ...
3
votes
2answers
121 views

UK Capital gains tax

If I invest £100,000 in the stock market, and assume, for the sake of argument, they rise in price 100% in a year. I then sell £24,600 worth in the subsequent year. I haven't used any of my UK capital ...
0
votes
0answers
38 views

Living in France while remote working for a UK company

I'm planning to move to France but I will still be employed by a UK company. According to the HMRC website, my taxes will be payable in the UK but I read on an old forum that the French authorities ...
1
vote
0answers
40 views

Name variation on credit report in the UK, reason for concern?

I have three surnames, so my full legal name is generally written here (HMRC, DVLA, passport, pay slips) as: Forename Surname#1 Surname#2 Surname#3 I pulled my credit report and my current account ...
1
vote
1answer
500 views

How does this Amazon Prime scam work?

It happened to me and to one relative: We both got a phone call that a payment of £79 for Amazon Prime would be taken from our credit card account. We both haven't subscribed to Amazon Prime, and both ...
1
vote
0answers
25 views

India to UK bank transfers

Is a UK passport holder with an Indian bank account in Kolkata, allowed to transfer money to their son's UK bank account as a gift. He is a UK passport holder. Thank you
2
votes
1answer
271 views

Forced closure of retirement fund: Best use of lump sum

I have been working in Australia for several years, with a temporary residence visa. I expect to soon be returning to my home country (UK). At this point, my superannuation account will be closed, ...
6
votes
1answer
310 views

Do I need to get a mortgage when using the Lifetime ISA?

I am using the Lifetime ISA and was wondering if it's possible to use the money to buy a first home without getting a mortgage at all. For example, if I have enough money in the LISA, perhaps together ...
3
votes
1answer
153 views

Getting money transferred from abroad from my parents, would I get taxed?

I'm originally from Japan but living in the UK permanently on spouse visa now. My parents transfer money from Japan to my British bank every now and then like £8000 every year as a gift, does this ...
1
vote
2answers
44 views

IT Contractor Working for UK Client

How does an IT contractor provide consulting services from India to a UK Client? Do we need to open a IT Services Private Limited Company in India or are there other options, also helpful on how much ...
3
votes
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 ...
0
votes
0answers
57 views

UK first-time home buyer government programs - ISA

I am currently looking for my first house to buy. I looked at https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/, The Help to Buy ISA had been closed to new accounts at midnight on 30 ...
1
vote
0answers
35 views

Consumer Contracts Regulations (2013): Returns and Exemptions

This question is regarding the Consumer Contract Regulations (2013) in UK law. I have chosen to post on here, rather than law.SE, since my question is regarding monetary refunds for items purchased. ...
20
votes
9answers
8k views

Should I buy a nicer house in a worse area for less than I budgeted?

I am a single male in my mid twenties, based in the UK and looking to buy my first home. I see this home as a 'stepping stone' home and intend to live in it for 5-15 years until I get a partner and ...
0
votes
0answers
39 views

Selling an unsettled trade?

Here is my scenario. I purchased shares via my online broker in a placing. I never received a placing document or signed an order, my online broekr signed for me. The Trade date was 17th June ...

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