Millions of UK households who have gifted money to family and friends could face unexpected tax consequences, as HMRC warns about inheritance tax (IHT) liabilities on certain financial gifts. While gifting money to loved ones is common, failing to understand HMRC’s seven-year rule could leave recipients with a hefty tax bill if proper planning isn’t Continue reading
Sophie Wilson
Sophie Wilson is a finance professional with a strong academic background, having studied at the University of Toronto. Her expertise in finance is complemented by a solid foundation in analytical and strategic thinking, making her a valuable asset in the financial sector.
Centrelink Payments March Indexation 2025: Australians Receive Higher Payments as Cost-of-Living Relief Kicks In
In a welcome financial boost for millions of Australians, Centrelink payments are set to rise in March 2025, ensuring income support keeps pace with inflation. Around five million pensioners and welfare recipients will see their payments increase as part of the government’s twice-yearly indexation adjustments. These changes will impact key payments, including: ✔️ Age Pension✔️ Continue reading
Shared Housing and the Age Pension: How Buying a Home with a Friend Could Impact Your Payments
As the cost of housing continues to climb, many retirees are exploring shared homeownership as a way to afford living in prime locations. But for Age Pension recipients, the big question remains: Will co-owning a home affect pension entitlements? Robyn, a pensioner from country Victoria, is considering buying a house in Melbourne with her long-time Continue reading
Millions of Australians to Receive Centrelink Payment Boost in March: Financial Lifeline Incoming
With inflation and the rising cost of living stretching household budgets across Australia, many Centrelink recipients are set to receive a much-needed financial boost. As part of the government’s March 20 indexation adjustment, payments will be increased to help Australians keep pace with rising expenses. This automatic indexation—one of four key adjustments made each year—will Continue reading
RBA Delivers First Rate Cut Since 2020—But Aussies Warned to Brace for Inflation Battle
In a long-awaited move, the Reserve Bank of Australia (RBA) has cut the cash rate for the first time since November 2020, offering much-needed relief to homeowners battling soaring mortgage costs. The central bank lowered interest rates by 25 basis points, from 4.35% to 4.10%, marking a turning point after years of relentless rate hikes. Continue reading
Australian Dollar Surges to Two-Month High Ahead of RBA Decision—Will the Rally Continue?
The Australian Dollar (AUD) hit a fresh two-month high of 0.6373 on Monday, gaining momentum ahead of the much-anticipated Reserve Bank of Australia (RBA) rate decision. The AUD/USD pair surged as risk sentiment improved, driven by a weaker US Dollar (USD) and easing fears over former US President Donald Trump’s trade policies. Investors are increasingly Continue reading
Australia’s Central Bank Delivers First Rate Cut in Over Four Years—But Warns of Economic Uncertainties
In a long-anticipated move, the Reserve Bank of Australia (RBA) has cut interest rates for the first time since November 2020, joining other major global central banks in easing monetary policy. On Tuesday, the RBA reduced its benchmark rate by 25 basis points to 4.10%, marking a significant shift after a prolonged period of rate Continue reading
UK Government Confirms Potential Changes to Free Bus Travel Scheme for Over-60s in England
The UK Government has confirmed that local authorities in England have the power to change the eligibility age for free bus travel. This revelation comes in response to an online petition advocating for a reduction in the qualifying age to 60, similar to policies in Scotland, Wales, and Northern Ireland. The petition, which has gained Continue reading
£80,000 Fire Risk Warning: Insurer Urges Air Fryer Users to Follow These Safety Rules
Air fryers have become a kitchen essential for millions of households, offering a fast and cost-effective way to cook. However, their growing popularity has led to a surge in home insurance claims for fire damage, prompting insurer Aviva to issue a stark warning to homeowners. According to Aviva, four out of five air fryer users Continue reading
Barclays Pledges Full Compensation After Major Payment Glitch Disrupts Thousands of Transactions
Barclays has reassured customers that they will be fully compensated after a significant technical glitch left thousands unable to complete transactions over the weekend. The outage, which began on Friday, coincided with key financial deadlines, leading to widespread frustration. The banking giant has committed to reimbursing any customer who faced late fees or other financial Continue reading