Is Inheritance Tax on a sliding scale? How rates are applied above threshold and on gifts | Personal Finance | Finance

Inheritance Tax is a tax on the estate (property, money and possessions) of a person who has died. The standard threshold is £325,000. Normally, if the value of the estate is below the threshold, then there’s no Inheritance Tax to pay. Similarly, should a person who leaves everything above this threshold to a spouse, civil partner, a charity, More...

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By dailyreport On Thursday, September 19th, 2019
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Pound US Dollar exchange rate: BoE’s Brexit delay warning leaves GBP/USD flat | City & Business | Finance

The bank revealed that a weakening of global growth prevented the UK economy from reaching its full potential, a problem which the bank believes will intensify if the government fails to secure a Brexit deal More...

By dailyreport On Thursday, September 19th, 2019
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Universal Credit UK: Some claimants can get free NHS dental care – are you eligible? | Personal Finance | Finance

Universal Credit may be paid to an eligible person or couple in order to help them with living costs, such as if they are on a low income or are out of work. The amount that a person gets is made up of a standard More...

By dailyreport On Thursday, September 19th, 2019
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State pension age changes: WASPI react as Lib Dems pledge support for women affected | Personal Finance | Finance

The state pension age for women previously stood at 60, but has risen in recent years and is now continuing to rise. State pension age parity of 65 for both men and women was reached back in November last year. More...

By dailyreport On Thursday, September 19th, 2019
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Pound US dollar exchange rate softens, all eyes on the Federal Reserve | City & Business | Finance

The Federal Open Market Committee (FOMC) concludes its September policy meeting today, with the Fed widely expected to announce another rate cut later this evening. In what would be the Fed’s second cut in More...

By dailyreport On Wednesday, September 18th, 2019
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CLASSIC CANES: DOWNTON delivers celebrity dividend for stylish walking sticks maker | City & Business | Finance

The Somerset-based family business sees demand, especially in the US, surge by up to 20 per cent when Maggie Smith’s dowager countess appears sporting her elegantly crafted support. Now a new uplift is surfacing More...

By dailyreport On Wednesday, September 18th, 2019
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Universal Credit changes happening next month: How childcare support change may affect you | Personal Finance | Finance

The DWP announced last week that parents and guardians are to be given extra time to claim back childcare costs with Universal Credit. This means working parents and guardians will now have an additional month More...

By dailyreport On Wednesday, September 18th, 2019
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Pound euro exchange rate trades lower as German economic sentiment improves | City & Business | Finance

In its latest survey of economists, the ZEW institute reported some of the gloom recently clouding the Eurozone’s largest economy appears to be lifting. The sentiment index jumped from -44.1 to -22.5 in September, More...

By dailyreport On Tuesday, September 17th, 2019
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Pound US Dollar: PM’s pledge sees exchange rate tumble from six-week highs | City & Business | Finance

Lawyers argued there was “strong evidence” that Mr Johnson saw lawmakers “as an obstacle” and prorogued parliament in order to “silence” them. However, the Prime Minister denies these allegations More...

By dailyreport On Tuesday, September 17th, 2019
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What Stamp Duty do you pay on a house? Why amount may rise if there’s a house sale delay | Personal Finance | Finance

For residential properties, the current Stamp Duty Land Tax (SDLT) threshold is £125,000. This increases to £150,000 for non-residential land and properties. If the sale is greater than this threshold, then More...