My mother died in 2004 and left me her flat. Initially I rented it out, but now my son lives in it while my husband and I live in our own house. When I die, will the children have to pay capital gains tax on the flat when they sell it to share the value? I think we are safe with inheritance tax as both properties together are worth about £700,000. Is there any way to avoid CGT?
ASK TONY: My electricity reading rocketed after a power surge on our street and now I fear a mammoth bill
My street suffered a very severe power cut because of bad weather. During the repairs, 400 volts were erroneously pushed through the neutral cable instead of 240 volts through the live one. This resulted in a massive power surge to all 11 houses, some of which saw their fuse boards catch fire and sockets burn out — many lost all electrical appliances.
FTSE LIVE: Fox hikes bid for Sky; Burberry UK sales knocked by weaker tourist demand; City veteran Scicluna named new Sainsbury's chairman
Rupert Murdoch's 21st Century Fox has upped its bid for Sky to £14 a share, while Burberry said weak sales in the UK were offset by high tourist demand in Hong Kong. Elsewhere today, Sainsbury's confirmed boardroom grandee Martin Scicluna will become chairman in March 2019, and steer its proposed merger with Asda.
How to borrow for your small business: What you need to know about loans and finance to start-up or expand
Money can be tight when running a small business and sometimes a financial helping hand is required to fund investment, or simply to keep a business afloat through a cash flow hiccup. To help you navigate the array of options on offer, we've come up with a simple guide to the different types of finance available to businesses and when they might be suitable for yours.
Will you be driving an electric car soon? The Road to Zero plan to shoehorn the UK's 45m motorists into them by 2050 - and cut emissions long before then
While many of the changes are focused around the 2040 proposed ban on the sale of new petrol and diesel motors, some of the strategies are already in place today. We take a look at five ways the Government proposes to ease us all into electric vehicles, from converting street lights into plug-in points, chargers exclusively for cabbies, stricter MOT tests and incentives to purchase vehicles and home plug-in points.
It is the latest in a line of upmarket brands, including Mulberry, to blame a dip in tourism for sluggish UK sales. Burberry said the weakness in its domestic market was offset, however, by rocketing demand from Chinese tourists in Hong Kong, Korea and Japan, which helped it to fashion a 3 per cent sales rise overall to £479m. The Asia Pacific region also spearheaded Burberry's digital growth - most of the fashion house's online sales are now made using smartphones, it said.
Team of Harry Kane £5 notes will secretly enter circulation if England reach World Cup Final and would be worth up to £50k each
Football fever has swept the nation – and if England beat Croatia to reach the final on Sunday, Britons could have even more reason to cheer. An 11-strong team of £5 notes engraved with England captain Harry Kane will enter circulation via a micro-engraver, should the team reach its first World Cup final since 1966.
Hybrid vehicles escape 2040 ban on new petrol and diesels under Road to Zero plans - but electric car grants may be cut in just two years
From 2040, only hybrids with significant electric-only ranges - believed to be 50 miles in full zero-emissions mode - will be available to the market, new government plans outlined. However, it could soon become more expensive to buy electric and hybrid models, with the suggestion grants subsidising low-emissions cars could be reduced.
'So many entrepreneurs I have come across believe raising money is a breeze but then get caught in a whirlwind, but the first question any start-up should ask is do I really need the money?' Our Start-up Doctor Andy Yates, a successful entrepreneur and angel investor, explores how entrepreneurs can raise cash for their start-up.
'When I was 13 I invented a gadget that's made me £20m': Young entrepreneur Jordan Daykin tells of how he's built a huge fortune
Thanks to an £80,000 investment from fiery Dragon Deborah Meaden, Jordan Daykin turned the plasterboard fixing gadget he invented with his grandfather into a £20million pound business. Now aged 22, he left school with no qualifications at the age of 13 after his family fell on hard times and he was bullied by his peers. Jordan turned his life around by setting up no fewer than three businesses to ensure he was not a financial burden on his ageing grandparents.
Marcus is coming to town - a new player in the savings market, which could put some welcome pressure on rates at last. Meanwhile, rates are already starting to inch up, with fixed rate accounts at a two-year high - so will they keep on rising? We discuss this and plenty more savings news in the This is Money podcast. We also talk about how much we need to save for retirement, why a raffle to win a Brixton flat has just been extended, and finally - can success in the World Cup really boost the economy?
Track down your share of a £15bn treasure chest: How to reclaim lost riches locked up in shares, savings and other forgotten accounts
Industry estimates suggest as much as £15billion languishes in bank and building society accounts, National Savings and Investments products, pensions and life insurance plans - often opened decades ago and then lost in the mists of time. The Mail on Sunday shows you how to go on a treasure hunt and unearth the money that is rightfully yours.
MIDAS SHARE TIPS: Halfords' tour de force should see shares climb as cyclists gear up for a summer of sport
The start of the Tour de France this weekend is sure to have aspiring cyclists across Britain reviewing their gear - and that's good news for Halfords. With the sun shining and a summer of sport well under way, the cycling specialist has a chance to make up for a dismal winter. Full-year results released in May sparked an investor rout as the retailer revealed that poor weather and the weak pound had led to a disappointing final three months of its financial year, which ended on March 30, 2018.
Top places to buy a home in the sun on a budget revealed: Weymouth and Portland top the list with 35 hours of sun a week and homes for £200k
Buying a house in one of Britain's sunniest locations often costs less than the national average house price, new findings reveal. Around a third of locations enjoying the best annual sunshine levels have houses typically priced less than the national average of £252,983, Halifax's figures suggest. For those looking for a bargain and keen to bask in sunshine for most of the year, Weymouth and Portland offers the best option, with the area enjoying over 35 hours of sun a week and homes typically costing just over £200,000.
Back of the net! Auto Trader said it would give away a new car every time England scored at the World Cup - now it has a bill for £187K (and counting...)
Five games into the World Cup and the Three Lions have hit the back of the net no fewer than 11 times, costing Auto Trader just over £187,000. And with England guaranteed to play two more games in the tournament, it's likely to get more expensive still for the car sales site. Winner Imogen Ryan, 24, (inset) posing with her new Alfa Romeo Mito after entering the competition when Harry Kane blasted in his penalty against Colombia in the last 16 tie.
How to get the best value from your Avios: We reveal the tricks to make the most of your British Airways air miles
There have been several revisions to the Avios scheme over the years, unsurprisingly all meaning your points don’t get you quite as much or they are harder to earn. But the scheme isn't worth ditching yet, particularly if you are clever about how you spend them your points. We have run the numbers and unearthed the tricks to stretching your points further afield.
THIS IS MONEY'S FIVE OF THE BEST CASH ISA DEALS
Aldermore pays 1.65% AER interest on its two-year fixed rate Isa account. Interest can be paid monthly or yearly. Allows transfers in from other providers, minimum deposit is £500.
Shawbrook pays 1.3% AER on its easy access Isa account. The bank offers a monthly interest option paying 1.29 per cent. It allows transfers in from other providers, minimum deposit is £1,000.
Bank of Cyprus UK offers a cash Isa fixed for one year paying 1.52% AER fixed. The account allows transfers in and can be opened with a minimum deposit of £500. Fully FSCS protected.
Skipton BS offers a rate of 1.35% AER interest on its 18-month fixed rate cash Isa - one of few accounts over the term available. You can open with a £500 deposit and it allows transfers in.
Ford Money pays 1.45% interest on its one-year fixed rate Isa. interest paid monthly at a rate of 1.44%. The provider offers flexible accounts that allow withdrawals without affecting your annual tax-free allowance. It requires a minimum deposit of £500.
What next for interest rates? The 'dead certain' hike that never arrived - Bank holds at 0.5% but door left open for an August move
The Bank of England's Monetary Policy Committee kept interest rates on hold at 0.5 per cent, in spite of forecasts of a 90 per cent chance of a rise just three weeks ago. Policymakers voted 7-2 for a hold, with the two members who called for a rise saying that they believed there were 'upside risks' for inflation.
Borrowers are being offered a raft of cheap fixed rate mortgages as lenders attempt to lure them into remortgaging or buying a home. But HSBC has decided to buck the trend and launch a new rate mortgage that is a tracker instead. We pick out the best fixed and tracker rate mortgages and look at what next for rates.
Buy-to-let is much tougher than it once was. A tax crackdown on buying properties and a tax raid on the rental income from owning them has seen to that. But for many Britons the idea of investing in property still appeals, as they trust bricks and mortar and may feel that they can add value to a property. Read our top ten buy-to-let tips
Premium Bonds Winners
|Prize||Area||Value of bond|
|£1,000,000||South West Wales||£5,000|
|£100,000||Hampshire and Isle of Wight||£50,000|
|£100,000||Hampshire and Isle of Wight||£600|
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|Updated 11 Jul 2018.|
|US Dollar||1.297||Buy Now|
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