New answers tagged

1

TL;DR: If the gain was made within an ISA, no CGT will be due, whatever you do with the money. You can keep it in the ISA (by reinvesting in other stocks) or withdraw it to "a normal bank account"1. First, it should be noted that the chance of your shares increasing in value ten-fold (in a reasonable time period) is very remote... it would need a 26% rise ...


4

This HMRC page explains relief at source. The payment was taken from your pay after tax, not before tax. So the statement about not including it in self-assessment doesn't apply. This page explains how to claim back the repayment. If you do fill in a tax return (i.e. use self-assessment) then you can and should put it there. If you don't fill in a tax ...


0

Citywire says: "If you are contributing to an employer pension scheme which is a final-salary or occupational money purchase scheme, you do not have to worry about claiming the rest of the relief. Your pension pot will automatically receive tax relief of either 40% or 50%." but doesn't have any reference for that. More usefully, Which? ...


1

Loan-to-Value LTV is calculated as the difference between the amount of money borrowed (mortgage loan) versus the appraised value as provided by the property appraiser. Example: 80k borrowed (the loan), 20k down payment, purchase price is 100k, property assessed at 100k. LTV: 80% (80/100) 80k borrowed, 0 down payment, purchase price is 80k, property ...


3

Generally you are correct. Stocks bought via a broker are supposed to be ring fenced assets and as such the FSCS only helps you in one of the following situations: You happen to have a major amount of money in your current account, while your broker goes bust. Your broker somehow manages to loose your stock, which is not totally unheard of (especially while ...


2

You should pay more attention to dishonest broker tactics rather than how secure is the fund with the brokers. After various global financial crisis and Baring banks incident, many countries have regulated and banned many speculative leveraging activities. Thus there are little chances that Stockbrokers are able to take the money and run away. Passive ...


0

If savings accounts in the UK are anything like US... Interest is compounded daily, using the AER advertised that day. A 365 or 360 year is used. Interest start accruing the day it's deposited. It's credited to your account (you can actually see it) on the account's statement date. The AER of savings accounts can change daily, but usually don't. Fixed-rate ...


0

Just back from Iceland where had my credit card was refused because of fraud protection on the purchase of a coffee and a cookie! Yes I notified the bank before we left home that we were going. Glad I had spent $7.50 and got some Icelandic Krona delivered to our house before we left!


0

Brexit will probably hurt property values in the short term, but as long as you don't plan on selling in the short term, this isn't that big of a deal. House prices will eventually recover, and rental prices are less wobbly than house prices. Be sure you know the costs of any common building maintenance fees, and if any big work is coming up that's not ...


0

Given the event occurred in the past, it might make sense to call HMRC (they are actually quite helpful) and sort out the formalities. According to HMRC: Employees’ rights Anyone you employ must: have an employment contract be given payslips not work more than the maximum hours allowed per week be paid at least the National Minimum Wage ...


0

This depends on which country you are from and where you are going. E.g. changing Mongolisn currency (cash) into Euros or vice versa is cheaper in Mongolia than in Europe. If you travel from Europe to Mongolia, it is cheaper to exchange the money in your destination country. If you travel the other direction, it is not.


2

Although 020 3xxx xxxx numbers can be physical landlines, they often aren't. Many virtual phone number providers can't set your virtual number up with the BT directory enquiries database. This isn't particularly relevant because Lots of people are ex-directory anyway and credit agencies do not have access to an "ex-directory" database. If you want a UK ...


5

I'm not sure you can generalize this. Even getting Euros varies from country to country. I got a very fair rate (in comparison to the wholesale rate) at ATMs in Ireland, and about 5% worse in Portugal (forced conversion at an unfavorable rate). Spain allowed my bank to convert but imposed a relatively high fee of a few Euros on each withdrawal. And that's ...


10

It is probably inefficient to buy foreign currency at home to cover the standard big expenses of travel, but it can be incredibly useful to have a small amount of local currency to cover things like buying a bottle of water or an amazing souvenir from a street vendor or a merchant you don't trust with your credit card, making a small donation at a religious ...


1

Another way to look at it: For you to buy foreign currency locally, it would first need to be transported from its original country all they to your local exchange place. When you use an ATM in the original country, that supply line is unneeded, meaning costs are lower.


7

I frequently travel abroad. Depending how often I am (and my ties to a particular country) I handle money when I get there in any of the following ways: In some countries I have a local bank, so I can perform some local transactions (particularly withdrawing cash from an ATM) in local currency. I can transfer money to those accounts ahead of time if I ...


1

Getting the physical money in places where you can pay with them is nearly always advantageous. You would, through the exchange rate, pay for the additional transport, storage etc. of the physical currency otherwise. Before travelling, you can check through the internet for ATMs in the destination airport arrivals area. Most airports have ATMs after customs....


-1

No, it's not - at least not in Europe. Suppose you have 3000GBP in your bank account that you wish to use for a lovely trip to Europe. I'll use today's rates (07/11/19, 13:30GMT) for this example. The interbank rate is at 1.11499. I see three options: Withdraw cash in the UK, exchange cash directly either at home or at the destination: the worst idea. ...


8

To give a slightly fatuous but technically correct answer: Is it more economic to pre-purchase currency before travel, or use ATM cards / credit cards when abroad? If you find yourself somewhere that only takes cash (and pace the comment you quote, even in 2019 (!) such places do still exist), then all your fancy plastic and electronics gets you a ...


22

I don't know about other markets, but for travellers based in the UK going to popular destinations, the most competitive card providers give slightly better value than the most competitive cash providers. Both cash and card processors can charge you money for the service of converting currency in three ways: A fixed fee per transaction. A percentage ...


72

You don't need to be an economist to shop something. I just did some quoting of USD to EUR The daily wholesale close: 1.1251 The daily rate from Visa: 1.121988 The quote from my brick and mortar bank: 1.1794 The quote from the Travelex to pick up at my local international airport: 1.2335 For starters, you don't get the wholesale price in a retail setting (...


41

The Financial Services (Distance Marketing) Regulations 2004 say in Section 11: Subject to paragraphs (2) and (3), regulation 9 does not confer on a consumer a right to cancel a distance contract which is— (a) a contract for a financial service where the price of that service depends on fluctuations in the financial market outside the supplier’s ...


0

Investing.com seems like it might have something useful... e.g Forestry & Paper at https://uk.investing.com/indices/ftse-350-forestry---paper and there is a tab with historical data too https://uk.investing.com/indices/ftse-350-forestry---paper-historical-data (the "download data" button seemed to need a sign-in... I didn't investigate further). ...


5

The operation of PAYE means that the tax-free allowance is allocated monthly, but in the end tax is calculated on an annual basis. If you haven't worked since the start of the UK tax year in April and your employer is aware of that, which they should be via the "new starter" checklist, then you should get the entire tax-free allowance for the year to date ...


4

International banks are required to inform the IRS about your accounts, including total assets and interest gained. This is difficult without being able to identify you through an SSN, so they typically insist on having it. You will probably not find any bank in the world that offers you an account without having your SSN (unless you keep the information ...


0

Having lots of money lumped into one pay period rather than spread over several can cause more tax to be withheld, but should not increase the tax liability (which is how much you need to pay overall). So if, at the end of the year, you have more withheld then the tax due on your income, you should get that back as a refund


11

With a basic salary of £2,200 per month, anything extra will always be taxed at the basic rate or higher. But if you earn £3,400 in one month, that’s an annualised amount of £40,800, still well below the £50,000 higher-rate threshold, so there should be no risk of any of it being taxed at higher rate. Your National Insurance will also be the same, because ...


3

Assuming that what you want is a way to roll forward a capital gain on an investment property you’re selling, to the purchase of another investment property, then the answer is no. The capital gains tax becomes payable at the time of sale and the tax liability can’t be rolled forward or deferred. If the property you’re selling was your primary residence then ...


3

You’re not required to pay yourself anything — you can work for your own company for free. But if you do want to take money out of the company for your own use, that has to be done either as salary or as a dividend, and there are restrictions on dividends — they normally have to be paid equally (per share) to all shareholders, and they can only be paid out ...


3

To HMRC. You pay tax in your tax domicile (i.e. where you more or less permanently reside) – in this case, the UK. Rules are, of course, a little more nuanced than that. For example, if you don't bring the money back into the UK at all (e.g. if you get paid by your Swiss employer into a Swiss bank account), the situation may change. The guidelines for ...


2

Consider taking out a completely new mortgage, in the name of yourself and your wife. Use that to pay off the old mortgage. Then it doesn't matter who was named on the old mortgage. But you do need to work out who owns the house at the moment. That will be recorded at the Land Registry. If Mr P has a share in the house, then things may be difficult.


-2

Your pending order just won't fill, and in most cases, those who are already invested won't ever see their money again.


0

If you had sold your shares on April 8th then you would have received the cash in your account 3 working days later. I think what you mean to say is that you placed an order to sell on April 8th and that order was never executed because there were simply no buyers in the market. The exchange would have issued warnings of a pending delisting in advance. ...


0

A balloon loan - where the balloon payment is paid at the same time as the final periodic payment - can be written in terms of net present values (NPVs) like so ∴ L = (B + (M ((1 + R)^N - 1)/R))/(1 + R)^N ∴ M = (R (B - L (1 + R)^N))/(1 - (1 + R)^N) where L = present value of loan M = periodic repayment R = periodic rate B = balloon payment N = number of ...


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