Are you an individual or a Company affected by the change in tax on property?
The recent tax change can either hold a cloud or silver lining for you… how best to cope with these obstacles.
You could be feeling a double blow with the announcement that tax relief on buy-to-let mortgage interest payments would be slashed from April 2017 and that buy-to-let properties (and second homes) would incur an extra 3 per cent stamp duty. If you’re new to buy-to-let, you might not appreciate the grand scale of this is. Up to now, people buying to let have been able to claim tax relief on their mortgage interest payments at their marginal rate of tax. This means that a basic rate taxpayer would get 20 per cent tax relief, but those at a higher rate would receive 40 per cent relief, while top-rate taxpayers could claim 45 per cent.
It has come to our attention the growing number of homeless people in our Milton Keynes local community.
As the winter months kick in and we experience the noticeable drop in temperature. What we all take for granted is a place to sleep and call our home.
Help the homeless
We have recognised the important work of Winter Night Shelter MK (WNSMK). Over the last 5 years they have provided overnight accommodation to homeless and vulnerable people during the extreme winter months. They also help people into accommodation and work – in essence they help rebuild lives.
“People arrive at the Winter Night Shelter for many reasons. They can be old or young, men and women. Some are long term homeless, but many are the victims of circumstance. They may have deteriorating domestic issues, They may have lost jobs and no longer be able to pay for accommodation. Illness and disability are also factors that make people homeless.”
1st Financial Foundations have chosen to support the charity and will donate 10% of our fees for each mortgage case we receive over the next 3 months from December 2016.
We all have our ideas about being fit? For some people it means never missing their early morning walk. Others might go for a run, cycle or eat healthy. Fitness is very personal. You don’t need to be able to run a marathon to be fit. It’s about what your personal goals and desires are.
Just like physical fitness, being fit financially has many areas. The good news is that just like getting into shape you can assess your financial fitness and take actions to improve it. And if you keep your goals in mind as you earn and spend your money, you can achieve a high degree of financial health over the long run. So the question is, how fit are your finances? And how can you measure it?
But what do you do if you split up with your partner?
Life insurance can give you the precious peace of mind of knowing that any dependents will be financially secure in the event of your death. But if you are in a couple or partnership, should you opt for a ‘single’ or ‘joint’ policy?
If you are in a relationship it might seem obvious to take out a joint policy, but this is not necessarily the best option. See below for the pros and cons of single and joint policies.