Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

BRICS Leaders Propose Gold-Backed Currency Reset: What It Means for Global Markets   As BRICS leaders—representing Brazil, Russia, India, China, and South Africa—gather in Russia, discussions around a gold-backed currency reset have gained traction. This move could signal a shift away from the dominance of the US dollar in global trade, potentially reshaping the global financial system.   BRICS nations have long advocated for a more multipolar financial landscape, with less reliance on the dollar. A gold-backed currency could provide a stable alternative, reducing currency volatility and inflation risks. For countries like Russia and China, which hold significant gold reserves, this could increase their financial influence.   Watch video version - https://youtu.be/gdWMFep1DCM   What Would a BRICS Gold-Backed Currency Mean?   1. Currency Stability: Pegging currency value to gold can reduce inflation and provide stability, especially in volatile markets. 2. Impact on the US Dollar: A successful gold-backed curr

BRICS Leaders Propose Gold-Backed Currency Reset: What It Means for Global Markets   As BRICS leaders—representing Brazil, Russia, India, China, and South Africa—gather in Russia, discussions around a gold-backed currency reset have gained traction. This move could signal a shift away from the dominance of the US dollar in global trade, potentially reshaping the global financial system.   BRICS nations have long advocated for a more multipolar financial landscape, with less reliance on the dollar. A gold-backed currency could provide a stable alternative, reducing currency volatility and inflation risks. For countries like Russia and China, which hold significant gold reserves, this could increase their financial influence.   Watch video version - https://youtu.be/gdWMFep1DCM   What Would a BRICS Gold-Backed Currency Mean?   1. Currency Stability: Pegging currency value to gold can reduce inflation and provide stability, especially in volatile markets. 2. Impact on the US Dollar: A successful gold-backed curr

Inflation Falls to 1.7%, But Lenders Hike Fixed Mortgage Rates     Renters Rights Bill’s Passage Through Parliament To The Statute Books Rachel Reeves Will Hike GCT and IHT, But Can We Do Anything About It? Watch video version - https://youtu.be/yKhgDU1kUc8 How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords? The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively. Key Changes Proposed in the Renters' Rights Bill 2024 Watch video version - https://youtu.be/Wx1HXgVW1bM Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with S

Renters Rights Bill’s Passage Through Parliament To The Statute Books Rachel Reeves Will Hike GCT and IHT, But Can We Do Anything About It? Watch video version - https://youtu.be/yKhgDU1kUc8 How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords? The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively. Key Changes Proposed in the Renters' Rights Bill 2024 Watch video version - https://youtu.be/Wx1HXgVW1bM Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s 3 Steps To

As the Governor of the Bank of England, Andrew Bailey, tells the Guardian that the Bank could be a “bit more aggressive” at cutting borrowing costs, depending on the rate of inflation, the question borrowers are asking is should I opt for a fixed rate mortgage rate or wait until base rates fall?   The Bank reduced base interest rates from 5.25% to 5% in August, the first drop in cut in four years. However, Mr Bailey warned that the Bank was monitoring developments in the Middle East "extremely closely", as any movement in oil prices that could fuel inflation.   Watch video version on YouTube - https://youtu.be/BVs-Cl5oqqY   With rising interest rates in the UK, many homeowners are asking, "Should I fix my mortgage rate now or wait until base rates fall?" This decision can have a significant impact on your monthly payments and overall financial situation, so it’s crucial to weigh the pros and cons.   For investors with rental properties in their own names, the Section 24 landlord tax forcing landlords to rethi

As the Governor of the Bank of England, Andrew Bailey, tells the Guardian that the Bank could be a “bit more aggressive” at cutting borrowing costs, depending on the rate of inflation, the question borrowers are asking is should I opt for a fixed rate mortgage rate or wait until base rates fall?   The Bank reduced base interest rates from 5.25% to 5% in August, the first drop in cut in four years. However, Mr Bailey warned that the Bank was monitoring developments in the Middle East "extremely closely", as any movement in oil prices that could fuel inflation.   Watch video version on YouTube - https://youtu.be/BVs-Cl5oqqY   With rising interest rates in the UK, many homeowners are asking, "Should I fix my mortgage rate now or wait until base rates fall?" This decision can have a significant impact on your monthly payments and overall financial situation, so it’s crucial to weigh the pros and cons.   For investors with rental properties in their own names, the Section 24 landlord tax forcing landlords to rethi

Many people believe that to make money in UK property, you need substantial savings for deposits and renovation costs. However, it is possible to invest in property with little to no money of your own. In my latest Charles Kelly Money Tips Podcast, I explore strategies that can help you get started in UK property without using your own cash.   Joint Ventures are one popular method. By partnering with investors who have capital but lack the time or expertise, you can bring your skills to the table and share profits. The key is finding the right partner and offering value.   Another strategy is rent-to-rent, where you lease a property from a landlord and then rent it out for a higher rate. This method allows you to generate cash flow without needing a large upfront investment.   Property sourcing is another option. You find properties below market value and sell them to investors for a fee. This requires market knowledge and negotiation skills but can be a great way to make money without buying property yoursel

Many people believe that to make money in UK property, you need substantial savings for deposits and renovation costs. However, it is possible to invest in property with little to no money of your own. In my latest Charles Kelly Money Tips Podcast, I explore strategies that can help you get started in UK property without using your own cash.   Joint Ventures are one popular method. By partnering with investors who have capital but lack the time or expertise, you can bring your skills to the table and share profits. The key is finding the right partner and offering value.   Another strategy is rent-to-rent, where you lease a property from a landlord and then rent it out for a higher rate. This method allows you to generate cash flow without needing a large upfront investment.   Property sourcing is another option. You find properties below market value and sell them to investors for a fee. This requires market knowledge and negotiation skills but can be a great way to make money without buying property yoursel

In this Money Tips Podcast: Inflation has fallen from 11% to 2.2% yet the Bank of England base interest rate remained at 5%. Energy prices will rise by 10% in October – time to fix your deal. “Painful budget” could see higher capital gains (CGT) and inheritance (IHT) taxes, the end of the single persons council tax discount and a possible wealth tax. Section 24 landlord tax forcing landlords to rethink buy-to-let, but the is a solution. Protect your assets. Watch video version - https://youtu.be/Tq1P2UbYp4A Labour Hint Of Wealth Tax, Higher Inheritance and Capital Gains Taxes And “Painful” October Budget Concerns over potential tax hikes, as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax, are already causing an exodus of the rich. Watch full video version -  https://youtu.be/P0WTdbIAuks How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords? The Labour Party’s Renters' Rights Bill 2024 is poised to bring signific

In this Money Tips Podcast: Inflation has fallen from 11% to 2.2% yet the Bank of England base interest rate remained at 5%. Energy prices will rise by 10% in October – time to fix your deal. “Painful budget” could see higher capital gains (CGT) and inheritance (IHT) taxes, the end of the single persons council tax discount and a possible wealth tax. Section 24 landlord tax forcing landlords to rethink buy-to-let, but the is a solution. Protect your assets. Watch video version - https://youtu.be/Tq1P2UbYp4A Labour Hint Of Wealth Tax, Higher Inheritance and Capital Gains Taxes And “Painful” October Budget Concerns over potential tax hikes, as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax, are already causing an exodus of the rich. Watch full video version -  https://youtu.be/P0WTdbIAuks How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords? The Labour Party’s Renters' Rights Bill 2024 is poised to bring signific

As Labour warn of a “painful” budget and a “broken” economy, the wealthy are leaving the UK or making plans to relocate to lower tax countries. The Swiss bank, UBS, predicts it its latest Global Wealth Report that 500,000 millionaires will leave the UK by 2028, a 17% fall. Watch video version - https://youtu.be/P3AaRyeqZfA The FT said the UK will lose the most millionaires among the countries covered by UBS due to a combination of threatened ‘non-dom’ taxation, higher taxes and Russian sanctions, which has also seen billions flow out of the country. UBS’s report estimates that $83.5tn of wealth would be transferred within the next 20 to 25 years. This puts in doubt London's position as a haven for the global elite, currently a haven for the third highest number of dollar millionaires after the US and China. At the same time, low growth and high taxes and regulation is moving global investment to countries where the see more opportunity in Asia, North and South America and Africa, according to the media t

As Labour warn of a “painful” budget and a “broken” economy, the wealthy are leaving the UK or making plans to relocate to lower tax countries. The Swiss bank, UBS, predicts it its latest Global Wealth Report that 500,000 millionaires will leave the UK by 2028, a 17% fall. Watch video version - https://youtu.be/P3AaRyeqZfA The FT said the UK will lose the most millionaires among the countries covered by UBS due to a combination of threatened ‘non-dom’ taxation, higher taxes and Russian sanctions, which has also seen billions flow out of the country. UBS’s report estimates that $83.5tn of wealth would be transferred within the next 20 to 25 years. This puts in doubt London's position as a haven for the global elite, currently a haven for the third highest number of dollar millionaires after the US and China. At the same time, low growth and high taxes and regulation is moving global investment to countries where the see more opportunity in Asia, North and South America and Africa, according to the media t

Game-Changing Renter’s Rights Bill Explained - What Landlords And Tenants Should Know As New Government Bill Introduced To Parliament     Prime Minister Sir Kier Starmer presented the Renters Rights Bill to Parliament on Wednesday during PM Questions. The Bill appears to be a rebrand of the Conservatives Renters Reform Bill which failed to become law before Rishi Sunak’s disastrous snap election. I would urge you to read to Bill or at least the ‘Guide’ published here: https://www.gov.uk/government/publications/guide-to-the-renters-rights-bill/82ffc7fb-64b0-4af5-a72e-c24701a5f12a Many landlords are retiring, considering their options or selling up after years of landlord bashing, red tape and higher taxes under Section 24. Less new landlords are entering the market in such great numbers due to higher mortgage rates, stricter lending criteria and lower yields on but-to-let properties as prices have risen much faster than rents. The Renters' Rights Bill 2024 signals a major shift in the dynamics of the priv

Prime Minister Sir Kier Starmer and Chancellor Rachel Reeves say “thing will get worse”, and refuse to rule out a “painful” October Budget.   Concerns over potential tax hikes, as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax, are already causing an exodus of the rich.   Watch full video version -  https://youtu.be/P0WTdbIAuks   The prospect of higher taxes under a Labour government is causing unease among property owners and investors alike.   Inheritance Tax is a particular area of concern, as Labour has suggested that the current threshold could be lowered, increasing the tax burden on estates. Currently, IHT is levied at 40% on estates worth over £325,000, but this could change, leading to more families being caught in the tax net.   Capital Gains Tax is also on Labour’s radar, with proposals to align CGT rates more closely with income tax rates. This could see higher earners paying significantly more on profits from property sales

Prime Minister Sir Kier Starmer and Chancellor Rachel Reeves say “thing will get worse”, and refuse to rule out a “painful” October Budget.   Concerns over potential tax hikes, as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax, are already causing an exodus of the rich.   Watch full video version -  https://youtu.be/P0WTdbIAuks   The prospect of higher taxes under a Labour government is causing unease among property owners and investors alike.   Inheritance Tax is a particular area of concern, as Labour has suggested that the current threshold could be lowered, increasing the tax burden on estates. Currently, IHT is levied at 40% on estates worth over £325,000, but this could change, leading to more families being caught in the tax net.   Capital Gains Tax is also on Labour’s radar, with proposals to align CGT rates more closely with income tax rates. This could see higher earners paying significantly more on profits from property sales

Prime Minister Kier Starmer says “thing will get worse”, warning of a “painful” October Budget.   The UK property market is showing signs of resilience with a 14% increase in new property listings compared to last year. However, the optimism is being tempered by concerns over potential tax hikes as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax.   The surge in property listings can be attributed to homeowners looking to capitalize on the current market conditions before any potential tax changes come into effect. With interest rates remaining relatively low and demand for housing still strong, many are taking the opportunity to sell. However, the prospect of higher taxes under a potential Labour government is causing unease among property owners and investors alike.   Inheritance Tax is a particular area of concern, as Labour has suggested that the current threshold could be lowered, increasing the tax burden on estates. Currently, IHT

Prime Minister Kier Starmer says “thing will get worse”, warning of a “painful” October Budget.   The UK property market is showing signs of resilience with a 14% increase in new property listings compared to last year. However, the optimism is being tempered by concerns over potential tax hikes as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax.   The surge in property listings can be attributed to homeowners looking to capitalize on the current market conditions before any potential tax changes come into effect. With interest rates remaining relatively low and demand for housing still strong, many are taking the opportunity to sell. However, the prospect of higher taxes under a potential Labour government is causing unease among property owners and investors alike.   Inheritance Tax is a particular area of concern, as Labour has suggested that the current threshold could be lowered, increasing the tax burden on estates. Currently, IHT

Housing Market Bounces Back Following Interest Rate Cuts Rightmove Reports. New buyer enquiries rise according to Rightmove and Zoopla, as mortgage rates fall. Watch video podcast - https://youtu.be/HInDo9iT_7w How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords? The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively. Watch video version - https://youtu.be/Wx1HXgVW1bM Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s 3 Steps To Success Financial Freedom And

Housing Market Bounces Back Following Interest Rate Cuts Rightmove Reports. New buyer enquiries rise according to Rightmove and Zoopla, as mortgage rates fall. Watch video podcast - https://youtu.be/HInDo9iT_7w How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords? The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively. Watch video version - https://youtu.be/Wx1HXgVW1bM Section 24 Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s 3 Steps To Success Financial Freedom And

In the UK, inheritance tax can take a significant portion of your estate, leaving less for your loved ones. However, with careful planning through wills and trusts, you can mitigate this burden. For more expert advice on managing your finances, subscribe to Charles Kelly Money Tips Podcast on YouTube or email charles@charleskelly.net to meet a specialist adviser. Watch full YouTube interview: https://youtu.be/-SfqPiXPTbg Creating a properly drafted will ensures your assets are distributed according to your wishes, potentially avoiding intestacy rules that might increase your tax liability. Including trusts in your estate planning is a powerful tool to protect your wealth. Trusts can help reduce inheritance tax by transferring assets out of your estate, placing them in the hands of trusted individuals for your beneficiaries. Key strategies include the Nil-Rate Band Discretionary Trust, which allows you to pass on up to £325,000 tax-free, and gifting assets during your lifetime, which can also reduce the value