Plus: how death taxes are killing the housing market

Wednesday, October 30, 2019

Telegraph Money 

The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips.

The Telegraph take

By Stephanie Baxter Deputy personal finance editor

Boris Johnson’s plea to end the deadlock on Brexit has been finally answered. Britain will go to the polls on Thursday December 12.

We might be weary of politics but the outcome of our first December election since 1923 could fundamentally change the course of this country. While the bookies are pricing in a Tory majority at the polls, the prospect of a Labour-led government is a real possibility.

Politicians may be obsessed by Brexit but there are so many other important issues at hand. Ahead of the election campaign officially starting next week, Telegraph Money has looked into what a Corbyn government could mean for your personal finances.

The Labour leader wants to force higher earners to pay effective income tax rates of more than 67pc. Under his proposals, landlords would be forced to pay their tenants' council tax bills and families would forego 875,000 in inheritance tax breaks.

Labour plans to charge VAT on private school fees for the first time and there are also concerns Corbyn could review tax relief and come down hard on savers. Could the savings allowance and Isa allowance come under pressure?

We also have tips on how to Corbyn-proof your investments: what is the likely impact of a Labour government on your portfolio and what you can buy to protect your money.

Aside from Brexit and politics, we are launching a new series on 'How I bought my first home – without the Bank of Mum and Dad'. If this is you, or someone you know, we'd like to hear from you. Get in touch at marianna.hunt@telegraph.co.uk

Find out more and get money tips and advice on the Telegraph website, where you can subscribe for just 2 a week. It's free for 30 days. Try it here.

 

Top stories

Woodford head being pulled down
Generations
 

Moral Money

Halloween sweets

Moral Money: ‘My kids have left home – can I stop wasting cash on Hallowe’en treats for the neighbours' children?’ Read more and have your say here.

The final Moral Money podcast

Moral Money

 

In the last episode, our front-page cartoonist Matt discusses if it's wrong to fly business class and put your kids in economy, and asks whether you should charge your daughter rent for living at home during university. Listen here, or on Apple Podcasts, Google, or Spotify.

 

Investing

 

Fame and Fortune

Kiki Dee

Kiki Dee: ‘I’ve turned down I’m a Celebrity before, but I’d be tempted by Strictly’

 

The singer hopes she didn’t break Elton John’s heart by selling off her back catalogue. Read the full interview.

 

City Intelligence

City Intelligence

Get the inside line from Ben Marlow, chief City commentator, on what's moving markets and why in our daily newsletter. Subscribers can sign up in My Account; otherwise, click here for a free 30-day trial.

 

Personal finance

Spouses could be owed more than 1,000 from HMRC – claim now before it's too late

The ‘new fake whiplash’ that could hike up your car insurance premium

First-time buyers in luck as mortgage rates fall by a tenth amid property slump

 

Katie Morley investigates

‘Care home was warned about violent resident – then he attacked my mother’. Telegraph Money's consumer champion Katie Morley investigates the case of a reader's mother who was attacked in her care home

 

Questor

Neil Woodford
 

You have the last word...

Michael O'Donnell says of ‘The new fake whiplash that could hike up your car insurance premium’: “This should be easy to fight. The problem is that insurers send everyone for medical examinations and then accept the doctor's view that symptoms which cannot be verified are real. Doctors are too worried about complaints and make too much money from these 'examinations' to be honest and admit that they don't have a clue. Stop paying out for claims on unverifiable subjective symptoms is the easy answer. I understand that the French already do this.”

Stuart Reed says of ‘Hipster banks Monzo and Starling win customers from high-street giants’: “Online banking options and customer service? Important, but not as important as the interest rates on your savings, overdraft rates and low charges.”

Henry Law says of ‘It could take 25 years for markets to recover if there is a recession – but here's why it doesn't matter’: “Keep an eye on land prices. When the price-to-rent ratio goes much above 30, it is beginning to get unstable. When the ratio grows at an accelerating rate, the crash is less than two years away.”

 

Contact us: to pose a question to our team of expert reporters, email moneyexpert@telegraph.co.uk. If you'd like a free financial plan, email money@telegraph.co.uk with the subject 'Give me a Money Makeover'.

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