The Sunday Times reports that more than two thirds of the funds managed by St James’s Place are failing, yet the company claims many still offer “overall value”.
There’s also news that mortgages for first-time buyers are back, so long as they don’t want to buy a flat.
Although not entirely Covid-19’s fault, it’s sad to read that some families cannot move on because of government delays in sorting out the estate of relatives.
The Mail on Sunday leads with mortgage concerns if your client had a loan ‘holiday’: while banks said credit scores would not be hit, they appear to be rejecting borrowers who took a break in payments.
After employees across the country were sent to work from home in the coronavirus lockdown, the Office for Budget Responsibility is predicting that the value of offices and other commercial buildings will fall by nearly 14 per cent this year, meaning a £230bn commercial property crash.
After the Chancellor ordered an urgent capital gains tax review which could hit many homeowners and investors, depending on the outcome, the paper asks whether CGT will be changed to help foot the coronavirus bill and will the Tories keep their manifesto pledge to not raise income tax, national insurance or VAT?
The Sunday Telegraph notes that financial advisers charge clients almost £3,000 a year – but don’t see them for years; more than half of people with a financial adviser haven’t seen them for two years or more and many do not even know how much they pay them.
Duties on investment and property profits should be abolished; the Institute of Economic Affairs, a free-market think tank, and others are preparing to lobby for major changes after Rishi Sunak announced his CGT review.
And if marital tensions weren’t bad enough, apparently divorcees could now miss out on crucial tax breaks, as lawyers warn that delays in courts will worsen as marriage breakdowns surge post-lockdown.
Now here’s a thought for the week – “One evening, a Native American elder told his grandson about a battle that goes on inside people. He said, ‘My son, the battle is between two wolves inside us all. One is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride and superiority. The other is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth and compassion.’ The grandson thought about it for a minute and then asked his grandfather, ‘Which wolf wins?’ The elder simply replied, ‘The one that you feed.” (Ruby Wax, ‘Sane New World’)
Remember, wear a mask in shops from Friday – keep cautious.
*Highlight text, right click and hit “search google” for more info on any of the featured topics*