New answers tagged

1

No, it is not. It is processed like a purchase at a store.


0

Regarding your last question, you can ask to be paid in cryptocurrencies like Bitcoin. With cryptocurrencies, there is no way to cancel or withdraw a transaction.


2

When I was working, my wife and I were both in sales, and our total income averaged about 140% of our "salary". For purposes of a mortgage, banks looked at a 3 year average. Imagine if our entire income were the same, but it was all considered 'commission' or 'bonus'. That would be tough if the bank insisted on seeing a fixed salary only.


11

There is no downside for you but there is for the company. If the company has a bad year, it can stop your bonus but it can't reduce your salary (or at least that is much harder to do). When is the last time you got a raise? Since you are getting good bonuses you seem like a valuable employee. Why not just ask for a raise without mentioning your bonus?


0

It is more an empirical observation than a justified answer, but “something” happens around the £150 threshold: When the total of goods “sold by Amazon EU” exceeds it, a deposit for “import fees” is added to the order (as seen in the confirmation page): Edit: According to The Guardian in Customers in Europe hit by post-Brexit charges when buying from UK, ...


1

Scammers will also often send you a ACH transfer or send you a check to deposit. In these cases many banks will "pre-credit" your account with the funds on the expectation that the money will show up. In these cases it looks to you like you got the funds, your balance reflects the deposit. You then send the item. In a few days the ACH rejects from ...


2

As far as I can tell (more info here https://www.gov.uk/guidance/how-interest-is-calculated-plan-2 ) interest on Plan 2 student loans is calculated daily and compounded monthly. This means on Day 1 they calculate 1/365 of the annual interest rate on the amount you currently owe. Remember this number, but don't do anything else with it yet. On Day 2 they do ...


2

A retailer could be the target of a "chargeback", this can occur legitimately to protect the consumers rights but can also occur in a more scrupulous manner where a consumer is attempting to bypass a retailers return policies. How does chargeback work? Chargeback is a transaction reversal made to dispute a card transaction and secure a refund for ...


18

Bank transfers are reversed in specific cases of fraud. For example, if I hack into your bank account and send money to a third person, when it is discovered it will be reversed. There is no artificial deadline for that to happen. On the other hand, if I trick you and convince you to send money to that third person, that cannot be reversed. The difference is ...


5

You can't reverse or cancel a direct bank transfer (sometimes known as BACS or Faster Payments). These scams typically work in one of two ways: The scammer uses a reversible payment method, for example giving you a cheque which may appear as cleared in your bank account but may subsequently be detected to be fraudulent many months later and then the money ...


0

No matter how you cut it, the guy who earns more than you and presumably will be making most/all of the mortgage payments is paying more than you over the life of the loan so the only "fair" deal would be for him to get a proportional percentage of ownership BUT I bet you don't think that would be "fair". It might only amount to you ...


-4

Regarding literally a suggestion for your situation: A has more capital B has more income I truly recommend the following: Simply go exactly half-each on capital, and half-each on payments. That's the end of it. It means you will have slightly less capital, and slightly less payment - but it's the only way forward. My guess is that anything less would ...


2

The starting point for assessing "fairness" is that the two of you are going to have equal use and benefit of the house while you both live there. If you do not own the house equally, then to be fair, one of you would need to pay rent to the other. To avoid having to set a rental rate, owning the house 50-50 is a simple solution. Does each of you ...


0

How do we work out what is fair for us both? You each offer various possibilities and fine tune one until you both agree that the terms are fair. Work out all details of property ownership, the sharing of ownership expenses, and equally important, a buy-out clause (or the ability to sell the property) should one party become delinquent and the other wants ...


32

Other answers advise you to get legal advice, and I agree that doing so would be advisable. In an ideal world, I presume you'd each like to contribute equally and own a 50% share of the house at all times. So let's make it happen! For simplicity in this answer, I'm going to assume some numbers. Let's say you're buying a £350,000 house. You have £100,000 to ...


7

Hire a lawyer to write a contract describing who will pay what, and the amount of equity you will both have over time. Be sure there is a buy-out clause both of you agree to. The biggest problem is actually what happens if one of you decides to move out. It's not something you're thinking about as you're excited about buying a house together. One partner ...


2

I am going to make a few assumptions You are currently earning less than £50,000 per annum putting you in the basic tax band of 20% https://www.gov.uk/income-tax-rates That after the proposed move and new salary you will be earning more than £50,000 per annum putting you in the higher tax rate of 40% I am ignoring other taxs, reliefs etc that may be due ...


1

Copying the question update: Hargreaves Lansdown support confirmed they do not support such a transfer directly, however Skipton Building Society seem to support transferring a Lifetime ISA to their Cash ISA without affecting the annual ISA limit, which I can then transfer back to my HL Stocks and Shares ISA. Once I have tested this I will confirm in an ...


0

Or if I put 100k back into the company to balance the books, I could then take out then 100k as dividends and pay the normal dividends tax on it? Yes, THAT is correct. You got it. If you decided to "pay yourself first", that is inviting the end of the universe. Sure, say you got paid (random example) 400k - of course both the company and you ...


2

The purpose of a director's loan account is to allow you a straightforward way to either subsidise a cash-poor company with personal capital (thus becoming a creditor to the company), or to take money out of the company (e.g. to cover personal living expenses whilst you operate the company, and thus become a debtor to the company). The purpose of the latter ...


1

If you plan not to pay the money back then it's not tax avoidance but criminal tax evasion. Also, if you go bankrupt, then anyone who is owed money by your company can go after you, because you owe the company £100k which needs to be repaid. If you pay the money back, then it's perfectly legal, and you can pay yourself the same money as a dividend, after ...


3

There are other things which might be useful... Private residence relief. All the gains on your personal residence are CGT exempt. So someone thinking long term might buy a bigger house than they need, planning to downsize later. The gains would be tax-free. You can earn £7,500 tax-free from "rent-a-room relief" from letting out furnished ...


3

I'm speculating, but I suspect this is intended to ease administration for HMRC and the banks (etc) holding the ISAs. The main fore-runner of the ISA was the TESSA, which had a very simple requirement: everybody over 18 was entitled to a single TESSA. To open an account, they would supply their National Insurance number, which could easily be checked against ...


0

Generally banks offer wire transfer to foreign banks. Every year , maximum 250K USD can be sent at max outside India, as per RBI liberalized remittance scheme. Approach your bank, where you are having savings account. They will be able to help in the wire transfer to your son's UK bank account. For e.g., ICICI is having many options to send money abroad from ...


1

I've been doing it through Remit Now. It's a secure online Foreign Outward Remittance platform provided by HDFC Bank. Sending foreign outward remittance is now as easy as transferring funds via RTGS/NEFT. All you have to do is Add a Beneficiary > Select Funds Transfer > Input the amount to be transferred > Accept the T&C > Confirm the details


7

Either the normal annual allowance, or (the normal annual allowance plus £12,000), depending on if your ISA is 'flexible'. From the gov.uk information page (my emphasis): If your ISA is ‘flexible’, you can take out cash then put it back in during the same tax year without reducing your current year’s allowance. Your provider can tell you if your ISA is ...


3

If the 7,500 investment was made privately and not through the CrowdCube service, then Small Claims Court may be the only answer.


0

I'm an American and I own a few stocks in foreign companies. Not the UK but one in Canada, one in Sweden, and one in Israel. Every year the broker sends me a 1099 that says how much tax they paid to these countries in my name. I can then take a credit for these taxes from my US income taxes. I could look up what line on what form, but the tax software I use ...


2

Two questions here, the most important one is actually whether you can find another ISA provider that will take your business so you can protect the wrapper status for the long term. I'd ring round/explore the big UK brokerage only companies who don't have quite the size of the regulatory headache Barclays may have, and/or may have setup ways to work on this ...


4

Legally, you can refuse According to the Cheque and Credit Clearing Company: Cheques are not legal tender and never have been. Even today, if you owe someone money they are not obliged to accept a cheque. A creditor is entitled to be paid in legal tender and can refuse payment in any other form. So legally, you are not obligated to accept the cheque, and ...


3

RyanAir are proud of spending as little as possible looking after their customers. You can try asking for a refund by another means, but your chances are poor. I'd count yourself lucky you've been able to get a cash refund at all. You could also ask Revolut why they won't let you pay cheques in, but your chance of success is also poor there. Instead get a ...


1

I googled for FSCS "exchange rate" and found https://www.fscs.org.uk/globalassets/pdfs/2017-03-24-fscs-guide-to-scv---mar-2017-final-1.pdf The Depositor Protection Rules require that the exchange rate as at the default date is used when converting foreign currency accounts into Sterling, but do not require a particular exchange rate to be used. ...


2

The first stage is to contact both providers to work out what charges each will make for the changes. I undertook this process in the UK in 2018. Neither provider in that instance charged me for making the transfer. The process itself was driven from the destination provider, they requested the transfer of monies which my source provider then asked me to ...


0

No, a person in the circumstances you describe has no liability for US tax.


5

So is there another way of doing this that would also let me calculate the future equity gained based on overpayments? The equity immediately gained based on an overpayment is exactly the amount of that overpayment. In general, your regular payment schedule will pay off all the interest for the month in question, plus a varying amount of the principal. So ...


0

Just build a pay-off spreadsheet. There are plenty of examples on-line. For example https://www.mortgagecalculator.org/download/excel.php You can put any optimal payment in for any month and it will show you for each month the amount of interest paid, principal paid, outstanding balance and cumulative interest. Your equity is simply the original loan amount ...


3

Equity is defined simply as the value of your house minus the amount you owe on it. There's not a direct way to calculate this, because you don't know what the value of your house is, without first selling it! But of course you can estimate it, whether by using the purchase price of your house, or other means. Given that calculation of value, you can then ...


1

I posted them, and the person behind the post office counter didn't think a customs declaration was required so they were sent without one. (I'll mark this answer as accepted this if/when they arrive at their destination without any issues. But if, in the meanwhile, anyone can link a more authoritative source than what's basically anecdotal evidence then I'...


3

This is a very, very obvious scam. The company will keep asking you for money and you will never get anything back but perhaps a tiny payment here or there to keep you on the hook. How is it so obvious this is a scam? Well, they offer to pay you 20% to borrow your money for 24 hours. There are only two ways someone would make such an offer. The obvious one ...


2

If it looks too good to be true, then it isn’t true Does anyone think 20% profit EVERY DAY is reasonable? That’s the standard plan,and their worst performing! The FAQ include this gem “It's very important for you to know that we are real traders and that we invest members' funds on major investments.” We are really real and doing real things. Actual real ...


4

It is obviously a fake business. Or at best, completely incompetent. Domain The UK registrar of domains says it was registered in March last year and says Nominet was not able to match the registrant's name and/or address against a 3rd party source on 26-Mar-2020 That isn't good Website Although the business claims to have been started in 2019 and the ...


32

Most likely that the whole company is a scam. You "invest" some money, then they return a small amount to convince you they are real, and get you to send them more money. Then they stop returning money, and ask you for $175 more to keep going. They will be very good at extracting the largest possible money from you until you give up. I recommend to ...


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