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

Today in Parliament, Boris Johnson announced further lockdown measures and business closures in selected cities where infection rates have increased. Liverpool and Nottingham are among the cities where businesses such as gaming will be forced to close. Last week, Chancellor Rishi Sunak Employees announced that people working for UK firms forced to shut by law because of coronavirus restrictions will receive two-thirds of their wages paid for by the government. The scheme starts on 1 November for six months and could cost hundreds of millions of pounds a month according to a Treasury source speaking to the BBC. Full articles available at Money Tips Podcast - www.moneytipsdaily.com There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook. If you’d like further information on wealth mentoring and coaching, how to survive th

UK state pension age rises to 66 and will eventually reach 68 or even 70 The state pension ‘Ponzi’ scheme becomes harder to fund as people live longer and the demographic ratio of working to retired people changes. There is no fund and the scheme relies on new entrants to pay out people in retirement. The age at which the majority of UK retirees qualify for the state pension has now officially changed to 66 following rises in the qualifying age in the last few years. For men and women born between...Full articles available at Money Tips Podcast - www.moneytipsdaily.com By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook. If you’d like further information on wealth mentoring and coaching,

You may have heard the saying, “rich as Croesus”. Meaning that you have to exceeding wealthy to be richer than the king of Lydia in Asia Minor in 560 BC. He is believed to be the first person to mint coins as “money” from gold, although I visited a ruin in Rome where the Italian guid said the Romans first minted coins and coined the phrase which became known as money. Why was Croesus fabulously wealthy? He formed and controlled his own currency which dominated the region. Now others want to form their own currency and dominate the financial markets. Is it a currency or just a speculative investment? But are cryptocurrencies, such as bitcoin, the answer or are they, in the words of Warren Buffett, a “mirage”? Buffet has called it wrong on previous technological revolutions, but you have to sit up and listen to one of the greatest investors and richest men in the world. The leading and most well-known cryptocurrency is bitcoin. In the last five years, the price of a single digital bitcoin has risen from $263 to

UK house prices soar by 5% in September as mortgage approvals hit 13-year high UK house prices were up 5%, the highest growth rate in four years, in September year on year, according to the Nationwide Building Society’s lending data. Mortgage lending also rose, reaching a 13-year high, as the property market experienced increased post-lockdown demand. However, job loss fears and tighter mortgage lending criteria forced many young people to delay buying a property. Activity has partly increased due to the temporary stamp duty holiday, which means no tax is paid on the first £500,000 of all property sales in England and Northern Ireland until the end of March. However, some estate agents are saying that there is a “mixed bag” of demand, with some properties selling faster than others, for instance four-bed houses with space for a home office. London based agents are reporting a “buyers’ market” with room for negotiation on properties for sale in the capital. Maybe the new ‘work from home’ pattern is encouraging

New Job Support Scheme unveiled by UK Chancellor to stop mass unemployment Chancellor Rishi Sunak has announced the Jobs Support Scheme, replacing the job retention furlough scheme, giving people in work three quarters of their normal salaries for six months. The UK government will be topping up wages of workers who have not been able to return to the workplace full time due to the coronavirus, instead of paying people to stay at home. Sunak hopes the new £300 million a month package, starting on 1 November, will prevent mass job cuts when the furlough scheme ends next month on 31 October. Around three million workers representing 12% of the UK workforce, are benefiting from partial or full furlough leave, according to figures. The government wants to support the wages of people in work, giving viable “businesses who face depressed demand the option of keeping employees in a job on shorter hours, rather than making them redundant," Mr Sunak said. He will "support only viable jobs" as opposed to jobs that only

Following the tragic loss of a dear friend and business partner this week, I was reminded of just how precious and fleeting life can be. We all should make the best of our time on this earth. She certainly packed more into her short life than most people would in three lifetimes. Someone once said that there are two things certain in this life: Death and taxes! We’re all going to die one day, but unfortunately, taxes, and other financial liabilities, do you not die with you. The government still wants its share of your estate before it is passed on to your beneficiaries. Even though you build up your savings and property from money on which you have already paid tax, the taxman still puts his hand out for a cut when you die so that the government can spend it. Each year, HMRC collect’s around £5 billion in inheritance tax (IHT) from ordinary families, as well as the rich. Politicians on the left would like to see this increase, as they do not believe children should inherit wealth. You cannot change the syste

UK economy grew by 6.6% in July The UK economy continued to recover in July, growing by 6.6%, according to figures. The economy has expanded three months in a row, but remains well below pre-lockdown levels. The Office for National Statistics (ONS) revealed that the UK "has still only recovered just over half of the lost output caused by the coronavirus", the BBC reports. Whilst this is good news, things are far from back to normal. Growth in July was slower than June, when the economy expanded by 8.7%. The health of “UK PLC” is nowhere near pre-coronavirus levels and has partly bounced back due to pent up demand and growth in sectors such as hairdressers, pubs and restaurants which were allowed to reopen in July. Reopening of restaurants and pubs meant the accommodation and food services sector "rose by a whopping 140.8%" between June and July, according to Thomas Pugh, UK economist at Capital Economics. Economic output measured by the value and the volume of goods and services it produces remains at 11.7% l

Tesco drone delivery starting NOW threatening thousands of jobs A Tesco drone delivery trial will start in Ireland dropping off smaller packages at customers' homes within 30 minutes of ordering. Drones company, Manna, currently runs medicine delivery trials in Ireland. The 50mph drones can deliver 4kg of shopping a mile away in three minutes. Amazon made its first commercial drone delivery in the UK in 2016 in Cambridge to a customer within 13 minutes of the order being placed. In April 2020, the government announced much larger unmanned aerial vehicles (UAVs) would deliver essential hospital supplies from the mainland to the Isle of Wight. Source: BBC How many jobs could drones replace? An MIT professor Daron Acemoglu co-authored a new study revealing that each robot added to the workforce has the effect of replacing 3.3 jobs in the U.S. PWC report says robots could replace $127 billion of human capital and 50% of all jobs by 2030. Delivery drivers, bus drivers, taxi drivers, bank tellers and cashiers, ware

Three reasons why the richest family in the UK have kept their wealth intact for 300 years On 9 August 2016, 25-year-old Hugh Richard Louis Grosvenor became the billionaire 7th Duke of Westminster, when his father, Gerald Grosvenor, suddenly died of a heart attack aged 64. The Duke and his family are estimated to be worth at least £10.1 billion (US$13 billion), according to the Sunday Times Rich List in May 2019. The exact amount of wealth is difficult to estimate, since most of it is held... Full articles and text available at Money Tips Podcast - www.moneytipsdaily.com Are you ready to adapt to the new economic model? As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money

Could Wall Street tech stocks sell-offs and poor economic outlook indicate another market correction? Apple 6.7%. Amazon, Facebook and Microsoft dropped by 4%. Dow Jones Industrial Average closed 2.25% lower, S&P 500 fell 2.78% and Nasdaq dropped 2.95%. The global economy is expected to shrink by roughly 5% this year, which is huge. With Covid-19 showing signs of a return, further lockdowns could stall economic recovery. Full articles available at Money Tips Podcast - www.moneytipsdaily.com Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period. Are you ready to adapt to the new economic model? As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of wor

Leasehold trap – major builders could face court action over rip-off leases on newbuild properties The UK's largest housebuilders are being investigated by a watchdog after "troubling evidence" has emerged over the way leaseholds on newbuild housing estates have been sold to property buyers. Major companies like Barratt Developments, Countryside Properties, Persimmon Homes and Taylor Wimpey are facing legal action from the Competition and Markets Authority (CMA), which could take the developers to court. Other articles available at Money Tips Podcast - www.moneytipsdaily.com

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast. There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook. If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.netor send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

As the recession deepens and the end of the furlough scheme looms, Ann Summers becomes the latest retailer to threaten landlords with CVA unless shop rents are renegotiated Some landlords are “burying their heads in the sand”, says Ann Summers boss Jaqueline Gold. Ann Summers is a hugely successful lingerie and sex toy chain, which has brought the industry from the backstreets into mainstream retailing in the high street. They famously selling millions of pounds worth of products through ‘party plan’ selling in customers houses. Gold warned that unless landlords come to the table, they would ask to restructure its rent costs through a Company Voluntary Arrangement (CVA), which would wipe out much of its debt and liabilities such as lease agreements. A CVA is a legally enforceable rescue deal that enables limited companies to close unprofitable parts of the business, such as low performing stores, reduce their rent on others without going into bankruptcy or liquidation which would wind up the business. Jacquel

The Sunday Times reports that the UK government is planning to raise taxes, for instance Corporation and Capital Gains Tax, to pay for lockdown rescue packages. End of the month and lost summer of lost tourist billions. Other articles available at Money Tips Podcast - www.moneytipsdaily.com · Tax increases plan to pay for furlough · Zero interest credit card deals returning · Will demand for HMO rooms rise or fall? · EU staff offered chance to go home to work · Capita to shut a third of offices permanently · Is this the end of office work as we know it? · Home workers one step closer to outsourced · What will happen to all the city office blocks? · Companies still have long leases on big offices · Why live in expensive town centres anymore? · Buy-to-let landlords ignore “NO DSS” tenant ban · Restaurants extend ‘eat out to help out’ scheme · Thousands trapped in unsellable leasehold flats · 2m homeowners apply for mortgage payment holiday · Government extends ban on landlords evicting tenants · Unemployment to

“No DSS” tenant blanket ban ignored by buy-to-let landlords despite ‘unlawful’ ruling by Judge The BBC has launched its own investigation into landlords who still advertise their properties to rent using the terms “No DSS” or “Working tenants only”. Last month, a District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory. The county court ruling found a single mother-of-two had experienced indirect discrimination when a letting agent refused to rent to her. She subsequently ended up homeless with her two children, when her case was taken on by housing charity Shelter. The judge ruled "No DSS" rental bans are against equality laws. Full article and more available at Money Tips Podcast - www.moneytipsdaily.com Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary peo

City Centre “ghost towns” CBI warns, as major retailer New Look wants landlord to reduce rent to zero The Confederation of British Industry (CBI) head, Dame Carolyn Fairbairn, said that Britain’s City centres could become "ghost towns" unless the Prime Minister Boris Johnson does more to encourage workers to go back to the office, the head of the CBI says. New Look wants rents reduced to zero as part of CVA rescue package. Top 50 UK employers have no plans to fully reopen offices. Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals. What opportunities will there be for property investors? Other articles available at Money Tips Podcast - www.moneytipsdaily.com Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their in

Major UK employers plan to keep staff working at home and have no immediate plans to bring them back to the offices, a BBC survey reveals.  Is this the end of the office as we know it? Other articles available at Money Tips Podcast - www.moneytipsdaily.com · Is this the end of work as we know it? · Is it really more efficient to work at home? · What will happen to all the city office blocks? · Companies still have long leases on big offices · Why live in expensive town centres anymore? · The ‘eat out to help out’ scheme ends Monday · Thousands trapped in unsellable leasehold flats · Number of homes repossessed falls to record low · Mortgage possession claims fell by 97% to just 161 · 2m homeowners apply for mortgage payment holiday · Government extends ban on landlords evicting tenants · Unemployment to double 7.5% and economy slump 9.5% · Self-employed, have you claimed your government grant? · Lenders not passing on rate cuts and mortgage rates going up! · UK property prices jumped by 3% since June fol

Flat owners told their homes could be unsellable for up to 10 years with unsafe cladding. Following the Grenfell Tower fire disaster, hundreds of thousands of buildings were deemed to be unsafe due to the outside wall cladding. In 2019, the Royal Institution of Chartered Surveyors (RICS) brought out the EWS 1 form as a way of grading the safety of tower blocks with cladding. The grading certificate was intended for buildings over 18 metres tall with cladding, but this year Government regulations changed. Mortgage lenders now require the form for shorter buildings as well. It is estimated that 300,000 buildings that might require an EWS1. However, there are only 300 inspectors able to carry out the in-depth surveys, creating a huge backlog. RICS charge at least £40,000 per building for the EWS1, which seems extortionate. Another issue is that only the freeholder can apply and some have refused, even though the cost will be passed on to leaseholder, because the say it's not a legal requirement. Peabody, a Housi

Why home repossessions are at a record low The number of houses being repossessed by banks plummeted to a record low in the second quarter of this year, according to Zoopla. The Ministry of Justice (MoJ) said the “unprecedentedly low levels” of possessions were due to government measures introduced to help homeowners by forcing lenders to offer mortgage holidays during the coronavirus pandemic. The were no homes repossessed in the three months from April until the end of June, according to the MOJ. The number of mortgage orders for possessions dropped by 96% to just 149. Mortgage possession claims fell by 97% to 161. Landlord possession claims also fell by 89%. The government introduced a number of measures to enable people to stay in their homes even if their incomes were hit by the Covid-19 pandemic after the UK first entered lockdown in March. The Financial Conduct Authority (FCA) advised homeowners and landlords in difficulty to apply for a three-month mortgage payment holiday. The government passed the C

The UK government extended the ban on landlords evicting tenants in England and Wales today until 20 September in a dramatic last-minute U-turn hours before the ban was due to end, following fears that up to 243,000 could lose their homes. In most cases, renters will also get six months' notice if their landlord plans to evict them until the end of March. The block on tenant evictions during the coronavirus pandemic was due to end on Sunday and courts were due to resume section 21 and section 8 eviction cases on Monday after a five-month pause... Full story and more articles available at Money Tips Podcast - www.moneytipsdaily.com 1. Another travel firm goes bust 2. Croatia latest country on covid hit list 3. Apple is first US company to hit $2 trillion 4. Third of UK employers plan further job cuts 5. UK economy shrinks by 20% April to June 2020 6. Unemployment to double 7.5% and economy slump 9.5% 7. Self-employed, have you claimed your government grant? 8. Lenders not passing on rate cuts and mortgage rate