Q: I have a question regarding the calculation of my zakat liability. My money has been deposited with HMRC to pay for outstanding tax liabilities. In theory I could still withdraw that money before 2019, but in this case interest would accrue and I would have to pay it all back in 2019 regardless. The […]
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How can Zakat be calculated for shared savings and assets?
Q: Savings and a home are jointly owned equally by a married couple. The man is however responsible for payment of bills etc a. Can the Zakat be calculated collectively i.e. clump the debts together on one side and the joint assets such as bank savings on the other. b. How do you calculate payment […]
Read more...Can I use an Auto-Order option for online trading?
Q: In trading, when looking at charts, you can leave a auto-order to buy for you when price reaches a certain level. If you are not there at this time, is the purchase permissible? Is your presence necessary for the contract? Sometimes, you might be asleep but want to purchase at a given price, so you […]
Read more...Is it permissible to have a fixed return in a profit sharing agreement?
Q: Is it permissible to have a fixed return in the following profit sharing agreement? A lender agrees to provide an interest free loan to a businessman. Separately, the businessman will in the near future be completing a trade and selling certain goods to his customer. The lender wants to raise a contract to stipulate that the businessman will pay back the […]
Read more...Is dropshipping permissible?
Q: I have a question which I was hoping you could shed some light on insha-Allah. I’m looking to start an online store insha-Allah. There is one model which is pretty common now, which you would offer a product to the customer but you haven’t purchased it yet from the manufacturer. Once your customer places […]
Read more...Should I make up for my previous under declared taxes?
Q: A brother estimates 3 years of under declared taxes and has no cash or funds or Job to be able to make up the missed payment. He also has some unsecured debt which he is unable to pay. He owns a house however his wife and children live in this. Essentially he does not […]
Read more...Due to the nature of the IR35 tax legislation, Can I take out insurance cover?
Q: HMRC have made a law against disguised employees in (April 2000) who are operating under a Ltd company. This law is called IR35. The problem is no matter how safe you think you are if case goes to court its just simply your word against theirs. If you represent yourself you will mostly likely lose the […]
Read more...Can we take a mortgage in order to own one house?
Q: Alhamdulilah my family has kept away from bank loans and mortgages due to interest involvements but as everyone knows house is a necessity so some scholars do say one can compromise on interest issues when it comes to buying one house in your life time,please clarify how strong is this argument.what should one do in […]
Read more...Are we allowed to use credit union deposit schemes?
Q: Are we allowed to use credit union deposit schemes since they offer dividend instead of interest and its a very small amount. 1% or 2% dividend is offered on your savings annually. Please advice accordingly as dividend and interest are different as described by the finance experts, dividend is a profit on your money. الجواب حامدا ومصليا […]
Read more...Is it permissible to hold a fixed term deposit or an ISA savings account?
Q: Are the fixed term deposit and ISA savings accounts permissible means in shariah in terms of the returns on one’s initial deposit? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Any fixed term deposit account or ISA that gives interest or a guaranteed return on the initial deposit is not permitted. It is possible to structure a fixed […]
Read more...As a male driving instructor, can I have female students?
Q: I am a male driving instructor who also teaches female students how to drive. My question is is it permissible for me to teach female students on one to one driving lessons. What is my position in Islam , is it allowed,. Please can you clarify this position. Jazakallah الجواب حامدا ومصليا ومسلما […]
Read more...Can you transport alcohol and haram food as part of your job?
Q: I would like to ask if you can work as a lorry driver who distributes all types of food to supermarket like Tesco ASDA including pork meat and alcohol drinks. So my Question is in islam can you work like that driver who distributes these food including the alcohol and pork meet although compared with […]
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