Money Tips Daily by Charles Kelly, former IFA and author of

Happy Valentine’s Day! The UK economy crashed by 9.9% in 2020, the worst drop in GDP on record, yet property prices rose by 7%! But will prises crash in 2021? The simple answer is nobody really knows and even if they did it would depend on a number of factors – like the speed of the economic recovery and the level of government spending and support for the housing market. Despite the worst recessi...

Travellers arriving in England forced to stay in hotels will be charged £1,750 for ten days of quarantine, the UK Health Secretary Matt Hancock has announced. The border control measures will come into force on Monday and apply to UK and Irish residents returning from countries on the high-risk so-called ‘red list. Opposition parties have called for stronger border controls, as travellers from the...

Cladding Scandal Sees Buildings Insurance Premiums SOAR 1000% As Insurance Premiums Across The Board Rise, How Can You Save Money? Owners of properties blighted by fire hazard cladding face 1000% hike in their building’s insurance and no solution for those trapped in unsafe and unsaleable flats. A 28 year old woman from Leeds, who bought her first flat two years ago, has declared herself bankrupt...

DEADLINE EXPIRES MIDNIGHT 29 JANUARY 2021 Application eligibility for the third Self-employed Income Support Scheme (SEISS 3) grant, expires tonight. This grant covers up to 80% of lost income between November and January. If you meet the eligibility criteria the grant will provide a lump sum up to £7,500 to cover up to 80% of your average trading profits . Only use the official Government claims...

Unemployment rises by highest rate since 2009 crisis – what can you do to earn extra money? · Young people aged 25 to 34 face biggest risk of redundancy · Unemployment rate hits 5% with 1.7m jobless according to ONS · 9 million people forced to borrow to cope with COVID-19 disruption · 400,000 extra people were jobless in November 2020 compared to previous year · Millions of jobs won’t come back a...

Thousands of small businesses are set to receive previously refused insurance claim payments covering losses from the first national lockdown last year, following a court ruling. Supreme Court judges found in favour of small firms receiving payments from Business Interruption Insurance policies. The ruling provides a lifeline to thousands of small businesses, allowing them to survive the coronavir...

Following the third Covid-19 lockdown, which started 5 January 2021, the UK Chancellor, Rishi Sunak, announced a further £4.6 billion in grants to the retail, hospitality and leisure sectors. This new round of support follows extensions to the job retention and loan schemes revealed on 17 December 2020. There may be more to come with the Budget on Wednesday 3 March 2021. New lockdown 3.0 grants An...

The third Self-employed Income Support Scheme (SEISS) grant, announced by Chancellor Rishi Sunak on 5 November, has opened up for applications. This grant covers up to 80% of lost income between November and January. If you meet the eligibility criteria the grant will provide a lump sum up to £7,500 to cover up to 80% of your average trading profits . Beware of scams and only apply via the officia...

The Transport Minister has announced that all international travellers will shortly have to provide proof of a test negative for Covid-19 before departing to the UK. Passengers arriving by plane, train or boat, including UK nationals , must take a test up to 72 hours before leaving the country they are in. Passengers arriving from countries which not on the government's travel corridor list must s...

It’s not the strongest and fittest, but the most adaptable and flexible that survive a crisis 5 Quick Tips To Help Your Business Survive in 2021: 1. If you haven’t done so already, get online and learn how to sell your goods and services to billions of people buying stuff on the internet every minute of every day. 2. Stay open for business as much as legally possible when others close up. 3. Incre...

Happy New Year or Happy New Tier! Every year, we change from one year to another, but last year it seemed that we were changing from one tier to another! This is a time to reflect on how things have gone for us, especially since 2020 was the strangest year in our lifetime. Of course, there have been losers, but there have been massive winners too. People running or adapting to an online business m...

Which drug companies will benefit from Covid vaccine? As the vaccine rollout starts, will the drug companies make huge profits and should you follow Warren Buffett by investing in big pharma shares? More articles and money news available at Money Tips Podcast - www.moneytipsdaily.com · Tourist tax plan will wipe out jobs · Wealth-tax planned on middle class · Will stamp duty holiday be extended? ·...

Luxury goods and hospitality sector urge Rishi Sunak to drop planned tourist tax Harrods look dead just two weeks before Christmas Brexit negotiations in deadlock as deadline looms GDP slows prompting more recession fears More articles and money news available at Money Tips Podcast - www.moneytipsdaily.com · Wealth-tax planned on middle class · Will stamp duty holiday be extended? · Biggest econom...

UK government planning emergency wealth tax grab to pay for coronavirus pandemic In case you’re wondering how we are going to pay back all of this money that the government have printed and borrowed this year, take a look in the mirror. A one-off tax grab on wealth above £500,000 could recover much of the £280 billion the government has spent fighting coronavirus this year, according to a group of...

Should the government extend Stamp Duty holiday? Pressure is mounting on the UK government Chancellor Rishi Sunak to extend the stamp duty holiday in order to avoid thousands of property purchases falling out of bed because they cannot meet the 31 March deadline. · Experts warn thousands of property transactions will run out of time and collapse · Thousands of Mortgages approved on the basis that...

What is the outlook for the UK property in the next 12 months? Key points to consider: · The UK government is pumping billions into the economy and… · Asset prices usually inflate after a fiscal stimulus, as they did after 2008 · Property has been on a 12-year bull run and prices are at an all-time high · Stamp Duty holiday, Furlough and tenant protection will end by March 21 · OBR report for gove...

Biggest economic decline since 1709, as cost of coronavirus crisis rises to unprecedented levels. Headlines: · Economic output falls 11.8% worst for 300 years · Unemployment will rise to 7.5% or 2.6 million by Q2 2021 · Borrowing now at £394 billion, national debt £1 trillion · Millions face work-based pensions cut · Public sector worker pay freeze · Overseas aid budget cut · Council tax set to ri...

The national debt reached £2.08 trillion by October 2020, up £276.3bn since the start of the financial year. Monthly borrowing, required because the treasury is spending more than it earns in taxes due to the recession, reached over £40bn in April and close to that again in May of this year following the first lockdown. Borrowing is on target to exceed £300bn for the year since the start of the co...

As most of the UK goes into the second lockdown this year, Chancellor Rishi Sunak has changed direction by extending the furlough scheme until the end of March and promising more generous help for self-employed people. Barely a week ago the Chancellor announced £22 billion package of aid for businesses affected by Covid restrictions, but infection rates have continued to climb forcing the governme...

UK house prices went up again in October, at the fastest rate for five years, as buyers scrambled to beat next year's stamp duty deadline, the Nationwide Building Society reports. Annual house price growth rose to 5.8% and the average price is now £227,826. A similar survey by the Halifax show an even higher annual growth rate of 7.3% For the next five months, buyers of properties valued at up to...

Chancellor announces £22 billion package of aid for businesses affected by new covid restrictions. Rishi Sunak promised grants of up to £2,100 a month for ‘Tier 2’ companies that are not forced to close but are struggling to be commercially viable. As many as 150,000 businesses could qualify for the payments, which could cost the Treasury £1.2billion. The new Job Support Scheme replaces the furlou...

Emergency help for energy bills announced by Ofgem The UK Energy regulator, Ofgem will introduce new rules from 15 December to help vulnerable customers struggling to pay their energy bills this winter. Gas and electricity suppliers will be required to offer customers cannot top up prepayment meters emergency credit. Where customers are in debt, suppliers must put them on "realistic and sustainabl...

Today in Parliament, Boris Johnson announced further lockdown measures and business closures in selected cities where infection rates have increased. Liverpool and Nottingham are among the cities where businesses such as gaming will be forced to close. Last week, Chancellor Rishi Sunak Employees announced that people working for UK firms forced to shut by law because of coronavirus restrictions wi...

UK state pension age rises to 66 and will eventually reach 68 or even 70 The state pension ‘Ponzi’ scheme becomes harder to fund as people live longer and the demographic ratio of working to retired people changes. There is no fund and the scheme relies on new entrants to pay out people in retirement. The age at which the majority of UK retirees qualify for the state pension has now officially cha...

You may have heard the saying, “rich as Croesus”. Meaning that you have to exceeding wealthy to be richer than the king of Lydia in Asia Minor in 560 BC. He is believed to be the first person to mint coins as “money” from gold, although I visited a ruin in Rome where the Italian guid said the Romans first minted coins and coined the phrase which became known as money. Why was Croesus fabulously we...