Plus: Smart meter roll out in crisis (again)
Telegraph Money | | The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips. |
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The Telegraph take | | By Sophie Smith, personal finance reporter |
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| Yesterday Boris Johnson was elected leader of the Conservative party and becomes the new Prime Minister of the United Kingdom.
So what does his appointment mean for your finances? Johnson has pledged to bring taxes down: music to many people's ears. But worth a closer look are his ideas about stamp duty.
Johnson is said to be considering raising the property value at which the tax is due from 125,000 to 500,000, and bringing down the top rate – payable on properties worth 1.5m or more – from 12pc to 7pc.
Last week he went further and agreed to consider a more radical measure: switching the liability from the buyer to the seller.
Personal finance reporter Laura Miller also explains whether Johnson's tax and money plans will leave you worse off, while Sam Barker argues that Johnson’s commitment to a no-deal Brexit on October 31 should worry savers.
Elsewhere, saved pulled more than 60bn from "gold-plated" final salary pensions in the past year – with the transfer boom far from over. We explain what's driving this and what to consider before shifting your nest egg.
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. |
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| Sir Bernard said he's damned if he's going to be taxed on what he's already been taxed on. Read the full interview. |
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You have the last word... |
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| Stephen Ferrari said about Savers should 'rethink where their money is' before Boris Johnson gets elected: "There is too much debt in the world, plus vast quantities of financial derivatives. The value of money has to fall, it is only a question of when. Brexit + BJ could be the catalyst for this to happen in the UK."
W Wo said about 'Mice chewed up my BMW causing 15k of damage – now my insurer won't pay out': "I appreciate that insurance companies have to protect themselves, but it just always feels like they are completely in charge and neither the industry regulator nor governments can rein them in."
Ross Denholm said about Can riskier 'alternative' pensions solve the NHS crisis?: "The solution is simple. Allow staff to withdraw from their pension scheme in return for a compensatory salary bonus. Can't speak for the NHS but the Armed Forces Pay review body publish the value of the pension each year as a percentage of pay. If those affected are still concerned about their 'pot' they can take that bonus and stick it into a self-invested personal pension (Sipp) with full tax relief. Then they would have a pension and a nice lump sum which could be inherited."
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| Contact us: to pose a question to our team of expert reporters, email [email protected]. If you'd like a free financial plan, email [email protected] with the subject 'Give me a Money Makeover'.
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