Short summaries of articles we think you will find useful from some of the weekend’s broadsheets.
“How to become a YouTube millionaire”
‘Vlogging’ entrepreneurs are sharing the spoils of a boom in online video channels.
“Spend and enjoy your wealth while you can”
Then consider gifting in the most tax-efficient manner.
“Old Money: Retirement doesn’t always make you happy”
Zimbabwe grandmothers show how to tackle £26bn problem of poor mental health in the over-65s.
“Freelance workers in the dark about IR35 tax reforms”
Business slow to contact hires about changes to limited company rules, survey finds.
“What are the tax implications of passing my assets on to grandchildren?”
I have reached an age at which I want to give away the majority of my wealth.
“Door shuts on Help to Buy ISA in six months”
Replacement Lisa product thin on the ground and carries lower interest rate.
“Back‑seat guarantor could slash the cost of car cover for the young”
The scheme, VouchForMe, claims to make cover more affordable for the young by asking their parents or friends to pay the excess if they make a claim.
“Just 63p a day closes pension gap for women who take a break from work”
Working women who take two years off to care for family members could restore the value of their pensions by saving just 63p a day extra when they return to work, according to research for The Times.
“Ten best money-saving apps: how to spend less and save more”
Looking to manage your money better or find the best deals for a day out? Your smartphone or computer can take the stress out of saving money, often without you noticing. The Times lists the ten best websites and apps for savvy spenders and savers.
“How to invest in gold and pay no capital gains tax”
A loophole exists that allows gold investors to dodge capital gains tax (CGT) altogether. The tax is not applied to any British legal currency, which means that gold sovereigns, gold Britannia coins and silver Britannia coins are exempt, regardless of how much they increase in value.
“How you could save £17,000 a year on care by staying at home”
Calculations carried out for Telegraph Money show that those with mild care needs could save up to £17,000 a year by opting for three hours of care a day at home. Even those with more complex needs could save £6,500.
“Savers miss out on up to £3.5bn a year by not switching”
Customers with Barclays, HSBC, Lloyds, Royal Bank of Scotland and Santander have £827bn of the total £1.3 trillion saved in the UK. A study has found that these customers would make £3.4bn in interest on their savings over the next year. But this would more than double, to £7bn, if these savers swapped to better deals with rivals.
“Inheritance tax rules ‘save richest families nearly £700m a year’”
Vast majority of UK business relief goes to those with more than £1m in assets, report finds.
“UK house prices slip as confidence remains subdued, says survey”
Nationwide reveals 0.2% price drop month on month in May after positive growth in April.
“Has legendary fund manager Neil Woodford lost his magic touch?”
Billions of pounds have flowed out of his equity income fund as savers’ faith in the investment discipline to which he religiously adheres is being severely tested by a run of terrible performance.
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Latest stats on the cost of higher education and implications for planning.
The RNRB, which is designed to protect the family home from inheritance tax (IHT), was £100,000 for deaths occurring in tax year 2016/17 and has been phased in gradually over four tax years at a rate of £25,000 per annum until it reached £175,000 in tax year 2020/21.
Traditionally parents would bequeath their assets to their surviving spouse and subsequently their children. But, as we live longer, there are increasing opportunities to use intergeneration financial planning which includes grandchildren and great grandchildren too.