Plus: One in five face higher inheritance tax bills as probate delays drag

Wednesday, August 7, 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 Sophie Smith, personal finance reporter

Boris Johnson previously claimed there was only a "million to one" chance we’ll exit the EU without a deal, but the Prime Minister has also committed to taking the country out on October 31 no matter what. This is making a no-deal scenario a lot more likely.

The impact of no-deal could be felt in every aspect of life, including your finances. But will this be positive or negative? This week, Telegraph Money looks into how this could change varying aspects of your savings, investments and life planning.

It could be good news for your investment portfolio depending on what you own. Laith Khalaf of Hargreaves Lansdown, the broker, said a chaotic Brexit could actually boost larger blue chip stocks, as the pound falls in value and pushes up the profits at global companies. Handy.

What about travel bookings, currency exchange and duty free? The British government has promised that flights, ferries and rail services will continue to operate. But will travellers face lengthy delays? Marianna Hunt answers your most frequently asked questions.

Get all our biggest and best money stories – from tax, pensions, investing and more – for just 2 a week with a subscription to Telegraph Premium. Start your 30-day free trial here.

 

Top stories

An hourglass with a person stuck inside
Case study Zoe Taylor
An illustration of a woman taking out money from a cash machine labelled 'pension bank'
 

Moral Money

A cartoon of a person holding a piggybank and bank notes

'My aunt wants charity donations for her birthday, but the one she's chosen is silly and pointless'

Read more and have your say here.

 

Investing

 

Fame and Fortune

Rick Springfield

Musician Rick Springfield: ‘I made $250k selling my rare collection of Star Wars figures’

 

The singer tells all about his one "boring" job outside of music and how property and collectables helped his finances. Read the full interview.

 

Banking and savings

How to have the world's most exclusive wallet, from metal Monzo to Amex Centurion cards

How to claim for PPI: 12bn still to be paid out with just four weeks until deadline

A year on from the Bank Rate rise, banks slash interest paid to savers

Cashed out? Banks pull top current account switching bonuses

 

Questor

H&T sign
A man holding boxes in a warehouse
A Lloyds Bank sign
Jeremy Corbyn and John McDonnell
 

You have the last word...

Althea Talbot-Howard said about ‘Nationwide rejected me for mortgage because it claims I’ve got a ghost tenant': "I think that leaving a sofa bed in the box room has been a very costly mistake. Home offices don't normally have sofas in them. The room would have needed to have looked like an office or ironing/drying room in order to have passed the surveyor's inspection."

Pericles The Younger said about How a millionaire's gift to his disabled son triggered a 6m inheritance tax bill: "Australia abolished inheritance tax (IHT). Italy has it as a few per cent – and it isn’t levied on family homes. Those are simpler systems! Try an IHT rate of 5 per cent on all estates – and there’ll be fewer gifts, fewer trusts, fewer land exemptions, fewer disasters like this story. I’ll bet more comes in overall as well."

George Dunn said about The three reasons your car insurance is about to get more expensive: "Another year of no claims. Another hike in my premium as I pay the penalty for other people's actions and insurance company greed."

 
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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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