Heiress with a £1,500 monthly allowance hears a skint father-of-two ate out of bins as a teenager 

A Nigerian heiress living off a £1,500 monthly allowance from her grandfather got a brutal reality check while staying with a skint family of three on tonight’s Rich Kids Go Skint.  Engineering student Mercedez, 24, who lives in a £2,000 a month penthouse flat in London, went to stay with expecting parents-of-one Liam and Caitlan … Read more

Maximise your £20,000 Isa allowance by ditching the big banks

Don’t forget your new £20,000 Isa allowance: Looking beyond the big banks could boost returns eightfold The new tax year means a new allowance which can be spread across 4 accounts Savers can currently save £250,000 without paying tax on interest due to rates However rates could rise and Isas remain important for preserving your … Read more

Pension lifetime allowance: Will the rates be frozen?

The Chancellor is hoping to save £250million a year by curbing pension tax breaks for better-off workers, according to reports on his plans for next week’s Budget. Rishi Sunak is considering freezing the lifetime allowance, the total amount you can pay into a pension and still get tax relief, at £1,073,100 for the rest of … Read more

Is it worth paying into a pension after you reach the lifetime allowance?

I’ve got a £1m-plus pension at age 48: Is it worth paying in more now I’ve hit the lifetime allowance limit? Steve Webb replies By Steve Webb for This Is Money Published: 08:42 GMT, 28 December 2020 | Updated: 09:01 GMT, 28 December 2020 I’m in the very fortunate position of having run up to … Read more

Is it worth paying into a pension after you reach the lifetime allowance?

I’ve got a £1m-plus pension at age 48: Is it worth paying in more now I’ve hit the lifetime allowance limit? Steve Webb replies By Steve Webb for This Is Money Published: 08:42 GMT, 28 December 2020 | Updated: 08:42 GMT, 28 December 2020 I’m in the very fortunate position of having run up to … Read more

Will I break lifetime allowance rules if I start a new pension?

I retired with £1.4m but want to work again: Will I take a tax hit if I start a new pension now? Steve Webb replies By Steve Webb for This Is Money Published: 08:29 BST, 10 August 2020 | Updated: 08:29 BST, 10 August 2020 I protected my Lifetime Allowance at £1.5million and started taking … Read more

Double Isa allowance to £40k, says Standard Aberdeen boss

Double the Isa allowance to £40k, says investment boss, and encourage savers to ditch cash for backing British firms to help them rebuild Fund manager boss says firms with rescue loans will need to clear their debts Standard Life Aberdeen will invest in British companies to help them do this Boss Keith Skeoch says savers should … Read more

Inheritance tax rules on gifts ‘should be replaced with single personal allowance’

The confusing array of inheritance tax rules on giveaways to loved ones should be swept away and replaced with a single ‘personal gift allowance’, say Government officials. The ‘seven-year’ rule for large gifts, which means that if you survive the money gradually becomes free of inheritance tax, should be axed in favour of a set … Read more