New answers tagged

1

The simplest way to accomplish your immediate goal of giving software to your partner's company is to assign them the copyright in return for a nominal fee (e.g £1). However, unromantic as it may be, you should look to your own position here. If you and your partner split up then you will be left without any rights to your work (except anything potentially ...


3

I was in a similar situation a week or two ago. You have to ask yourself why your offer has not already been accepted. Usually it will be either: Your offer is not high enough There are higher offers from less desirable buyers than yourself He could come back to me and say someone else has put in X amount above asking price and whether i would like to ...


2

The key to getting your offer accepted is to not get married to a house you don't own. Your offer WILL be accepted, on a certain house, by a certain seller. Your negotiating position is exactly as strong as your ability to walk away from it, vs the sellers'. If you decide that for some reason this house is the only house you could possibly ever buy, the ...


3

Just a follow up as i found this thread while researching this, I have found Halifax do not charge a fee for cashing in Foreign Currency Cheques!


2

Usual thing for this setup is to put it in £85k blocks (current FSCS max per intuition) in order by best interest rate at UK banks covered by FSCS. Some crossover in what these banks are so make sure you check they are not owned by same parent company etc and you are over exposed. Right now that roughly tracks/falls behind inflation depending on exactly what ...


2

No UK stamp duty on foreign stocks. Dividends can be taxed at country of origin as you observe. Outside of an ISA, you may have to pay income tax on foreign dividends depending on exact situation you are in (basically how much you earn overall). You don't have to worry about this as in an ISA where all dividends and capital gains are tax exempt while in the ...


3

Note: I am neither a financial advisor nor a lawyer. This is neither financial nor legal advice! Do I need to pay stamp duty, in [light] of recent UK stamp duty holiday that government introduced? It looks like you will have to pay Stamp Duty at 3% on the purchase price of £250,000, although you may be able to claim it back if you sell your property in ...


1

If you haven't already, consider making an offer with an escalation clause. Basically, you say, for example: "I'm offering $100,000 and I'm willing to beat any other legitimate offer by $1,000, up to a maximum of $120,000."


0

The previous answers ignore the way estate agents operate in the UK. Of course this answer assumes the agents are reputable and honest - otherwise all bets are off on what might happen. First, having appointed an agent, the seller has agreed that ALL communication with potential buyers is carried out through the agent. If a buyer tries to make direct contact,...


59

Personally I would send back this note: "Thanks, we have already made an offer. Feel free to come back to us if you have a counter-offer in the future. For now we are persuing other properties. Note that the situation suggested by the agent/seller is unbelievably bad on your end (and for the other buyer). They are under no obligation, whatsoever ...


11

The question comes in how much do you like the house? If you like it, and can see yourself living there for the next 25 years you may consider writing a letter to the owners about how you see yourself living in the home. This would might include raising children, and decorating ideas. There are some cases, that I read about, where lower bids win because ...


10

Is there anything else I could do to make sure my offer got accepted and I do not get outbid? Having been in this position both as buyer and seller, the only thing that springs to mind is getting the seller to like you. This is of course tricky if you haven’t met. Conventionally, all the contact is via the agent. (We were lucky in that our second viewing the ...


1

Avoid any accounts that have specific perks but require you to pay in a regular salary. Even then, you can sometimes work around it by setting up a standing order from your main account to pay in the minimum amount every month. They rarely require that the money going in is a salary. Other than that, you don't actually have to tell them that you won't be ...


2

Yes, you can. You can close the account, with no balance, and open a new account with another provider, and the new account will be your 'active' ISA for the current year. Even if you have paid into the account in the current year, you can transfer it to another provider, and then add further funds up to the annual limit. (Not all ISAs will allow transfer in ...


2

Given the current situation, it seems like a poor bet, honestly. Interest rates are incredibly low - it looks like 3%ish in the UK, if my quick search is accurate - and are basically inflation level or close to it. While we don't tend to recommend people borrow money to invest given the risks, given this circumstance it seems like it might be a better ...


3

You have a tax free allowance of £1000 to work on side projects to encourage (and often legalise) them. However, if it's more than that you need to declare income under self assessment.


3

Once you've got your business up and running (and exceeded the £1k allowance mentioned in richardb’s answer), you will need to do a self-assessment (SA) tax return for the tax year in question. As part of the tax return, yes, you declare your PAYE income as well. HMRC in all likelihood will already have this data and, if you are completing the SA return ...


2

My answer: The loan you would be looking for is a Home Equity Loan and would be a viable option as long as the lender considers the loan an acceptable risk. That is typically based on your credit worthiness, the value of the home and the amount of the loan. Each lender will have specific guidelines and you can generally get good information from the bigger ...


1

In a word, yes. You’re a sole trader and liable for UK income tax and National Insurance on this income — all of it, not just the money you’ve transferred to your UK account.


4

I would proceed with caution and a lot of it depends upon the character of all parties involved. If the opportunity came along to open a joint venture with these people would you do so? Because basically that is what you are doing. Is anyone over emotional and liable to fly off the handle about money despite the facts? Are you able to keep accurate ...


2

To expand slightly on carrdelling's answer... (For the moment, I'll assume your original £100,000 was invested in a single "thing": e.g. the shares of one company or a single mutual fund etc.). If, after a year, your investment has doubled in value and you sell £24,600 worth of that "thing" then you will not pay any Capital Gains Tax. The ...


0

You pay taxes when you materialise your gains, i.e., when you sell your shares. If you invest today £100,000 in shares of GREAT, and then tomorrow the price of GREAT doubles, you still haven't realised any gains (so you pay nothing). However, if tomorrow (after seeing the price doubled) you decide to sell everything, you would have made £100,000 capital ...


0

At least in the US, plans of this sort usually include at least one low-fee index fund that invests in a wide range of large companies, a fund that invests in a range of bonds, and a money market fund. Many people want some collection of those to make up a substantial portion of their portfolio. One can invest in a pension fund with money that you want in ...


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