Do what you love and the money will follow

Tips LIFESTYLE | 03. June 2019

Welcome to Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness. Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy, and property business.

ABOUT ME

Welcome to Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness. Charles spent over 25 years in financial services working for banks, insurance companies and as a qualified Independent Financial Adviser running his practice.

Do what you love and the money will follow

Tips LIFESTYLE | 03. June 2019

asdasdasd Welcome to Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness. Charles spent over 25 years in financial services working for banks, insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy, and property business.

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ABOUT ME

Welcome to Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness. Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice.

Latest podcasts.

Government Planning CGT ‘Tax Grab’ On Buy-To-Let Property Investors, Experts Warn

Listen to Government Planning CGT ‘Tax Grab’ On Buy-To-Let Property Investors, Experts WarnThe UK Treasury has launched a “review” of the capital gains tax system to "ensure the system is fit for purpose", the BBC reports. Some experts are warning of "a tax grab" in the autumn to pay towards the multi-billion-pound cost of Coronavirus measures, such as the furlough scheme. The Chancellor, Rishi, Sunak asked the Office of Tax Simplification to investigate how capital gains are taxed for both individuals and smaller businesses. "This review should identify opportunities relating to administrative and technical issues as well as areas where the present rules can distort behaviour or do not meet their policy intent," the chancellor said. "I would be interested in any proposals from the OTS on the regime of allowances, exemptions, reliefs and the treatment of losses within CGT, and the interactions of how gains are taxed compared to other types of income." Source: BBC. CGT is a tax on profits, which hits business owners, as well as millions of share and property investors. Rishi Sunak specifically mentions reliefs and losses, which can currently be offset against profits and carried forward to future years. This could change and lead to higher tax bills for investors who risk their money and work hard to earn profits. Capital gains are taxed at a lower level than income, so there's a risk that the chancellor will use the current crisis and deficit to justify a hike in CGT to income tax levels. CGT rates are set at 10% for basic-rate taxpayers and 20% for higher and additional-rate taxpayers, or at 18% and 28% where gains relate to residential property. CGT is basically a tax on the gain a property investor makes when they risk their money. This is in addition to the income tax they pay and any other taxes like stamp duty and land registry fees.  Previous Chancellors have a habit of grabbing money from the estimated two million buy-to-let property investors, many of whom have a small number of properties which they plan to use to supplement their pensions. Buy-to-let investors have already lost a number of reliefs, for instance on mortgage interest and wear and tear allowance, and are paying higher taxes thanks to multi-millionaire ‘six jobs’ George Osborne’s raid on soft targets. Business owners spend years building up their businesses, working long hours often for little or no pay, only to be taxed on the profits when they sell up or retire. Is it still worth investing in buy-to-let property, as judge bans “No DSS” tenant policy? A District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory. The court ruling found a single mother-of-two had experienced indirect discrimination when a letting agent refused to rent to her. She 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. District Judge Victoria Mark heard this latest case in York County Court on 1 July, and ruled: "Rejecting tenancy applications because the applicant is in receipt of housing benefit was unlawfully discriminating on the grounds of sex and disability" and contrary to the Equality Act 2010, she said. People deserve a home but that doesn’t mean everyone has a “right” to rent home in the private sector. Landlords must also be able to choose who they want to take on as a tenant. I have current experience with both private and benefit tenants with mixed results.  The LHA rates in some areas are simply not competitive or equivalent to the open market rate and dealing with benefit claims is a steep learning curve for landlords. Deposits and upfront rent can also be an issue. The rates paid to landlords are also confusing and differ according to age. Is that not age discrimination? The private sector should not have to pick up the pieces for the failures of successive governments to build enough social housing. There has been no major council house building programme since the 1970’s. The last major town to be built with proper infrastructure and rail transport links was Milton Keynes which, along with other new towns, was planned in the 1960’s. Councils can build more social housing and borrow at low rates, but many choose not to.  I'm not sure if a ruling by a District Judge in a County Court is binding in law. If it is binding, it will be a further example of ‘red tape’, costs and legislation for private landlords, many of whom feel like they are swimming against the tide in the buy-to-let market. Investment in buy-to-let properties can still be profitable when done professionally. However, there are still many other opportunities to make money in property without the need for buy-to-let mortgages, large deposits or high rates of tax.  Other articles available at Money Tips Podcast - www.moneytipsdaily.com   “No DSS” tenant blanket ban by buy-to-let landlords ruled ‘unlawful’ by Judge UK economy grew by 1.8% in May, 24.5% smaller than it was in ONS reports UK's mobile providers will be banned from buying new Huawei 5G equipment Singapore’s economy plunged by 41% in the last quarter the largest fall ever Nationwide now lending 90% for first time buyers reversing previous change Stamp Duty slashed until 31 March 2021 by raising the threshold to 500,000 Chancellor Rishi Sunak keen to boost the property market and “build build build” New planning rules will open up more opportunities to make money in property Opportunity is everywhere for everyone, especially in property! But you have ACT!  Even the 'Secret law of attraction' requires you to get off your ass and TAKE ACTION! Homeowners will get vouchers of up to £5,000 for energy-saving improvements The poorest will receive up to £10,000 in £2 billion energy saving grant scheme Will your job be one of millions phased out by automation, innovation and AI? You don’t need your own money to create a second income in property  Time to your economy or Uconomy started whatever the economy is doing! You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash   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 working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?  By Charles Kelly, 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 how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com E-Commerce Cashflow 19th July, 2020 7:00 PM (UK) Learn how to... Build a profitable e-commerce business in less than 90 days. Replace your income in months. Help get the products to people that they need the most. Be able to spend more time doing what you love, with the people you love. Join the free training here: https://bit.ly/3gLXaKW  

BONUS! Bank of England More Upbeat Forecasts

Listen to BONUS! Bank of England More Upbeat ForecastsThe UK central bank had revised forecast, but predicts that recovery will take longer than previously expected. Other articles available at Money Tips Podcast - www.moneytipsdaily.com Governor of Bank of England more upbeat in his forecasts Unemployment to double 7.5% and economy slump 9.5% Base rates held at 0.1% and will keep rates low for 5 years Lenders not passing on rate cuts, mortgage rates going up! Half as many jobs are being advertised compared to last year Will end of furlough see millions more unemployed this autumn? UK property prices jumped by 3% since June following stamp duty cut Why UK Property prices rising after stamp duty cut, despite the downturn? New planning rules will open up more opportunities to make money in property You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash 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 working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution? By Charles Kelly, 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 how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com Would you like to get into property but don’t have much cash? Some friends of mine are running a special ‘no money down property’ training event to teach you how to buy property using OPM – OTHER PEOPLE’S MONEY…. 9th - 12th August NO MONEY DOWN 4 DAY EVENT 19:00 - 21:00 PM   4 Day No Money Down Event - Webinar description: 4 Evenings. 4 Strategies. Endless Opportunities. The current turbulence we are going through is affecting almost everyone, especially when it comes to finances and job security, perhaps that's you too? But what if there was a way to secure your future income, sack the boss and escape the 9-5? Well at Progressive we have the solutions, we want to equip you with all the skills to gain a steady and reliable cash flow without investing every penny you have. How is this possible? We have bought together 4 expert trainers in property and business investing for 4 evening web classes to show you all the opportunities that are within your reach... Right now, we understand that risks aren't something that everyone wants to do, so, instead we will be showing you that you do not have to put your life saving into something to make it a success! These strategies can provide a ‘win win’ for both parties and give everyone peace of mind, whilst building up your bank balance and your business reputation. Join here - https://bit.ly/3gwDvi9   https://progressivesuccess.online/no-money-down-week-2020-offers/amb1927

“No Dss” Tenant Blanket Ban By Buy-To-Let Landlords Ruled ‘Unlawful’ By Judge Is It Still Worth Investing In Buy-To-Let Property?

Listen to “No Dss” Tenant Blanket Ban By Buy-To-Let Landlords Ruled ‘Unlawful’ By Judge Is It Still Worth Investing In Buy-To-Let Property?A District Judge has ruled that blanket bans on renting properties to people on housing benefit are unlawful and discriminatory. The "momentous" court ruling found a single mother-of-two had experienced indirect discrimination when a letting agent refused to rent to her. She 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. District Judge Victoria Mark heard this latest case in York County Court on 1 July, and ruled: "Rejecting tenancy applications because the applicant is in receipt of housing benefit was unlawfully discriminating on the grounds of sex and disability" and contrary to the Equality Act 2010, she said. People deserve a home but that doesn’t mean everyone has a “right” to rent home in the private sector. Landlords must also be able to choose who they want to take on as a tenant. I have current experience with both private and benefit tenants with mixed results.  The LHA rates in some areas are simply not competitive or equivalent to the open market rate and dealing with benefit claims is a steep learning curve for landlords. Deposits and upfront rent can also be an issue. The rates paid to landlords are also confusing and differ according to age. Is that not age discrimination? The private sector should not have to pick up the pieces for the failures of successive governments to build enough social housing. There has been no major council house building programme since the 1970’s. The last major town to be built with proper infrastructure and rail transport links was Milton Keynes which, along with other new towns, was planned in the 1960’s. Councils can build more social housing and borrow at low rates, but many choose not to.  I'm not sure if a ruling by a District Judge in a County Court is binding in law. If it is binding, it will be a further example of ‘red tape’, costs and legislation for private landlords, many of whom feel like they are swimming against the tide in the buy-to-let market. Investment in buy-to-let properties can still be profitable when done professionally. However, there are still many other opportunities to make money in property without the need for buy-to-let mortgages, large deposits or high rates of tax.  Other article available at Money Tips Podcast - www.moneytipsdaily.com   UK economy grew by 1.8% in May, slower than expected  UK economy is now 24.5% smaller than it was in February, the ONS reports UK's mobile providers will be banned from buying new Huawei 5G equipment Singapore’s economy plunged by 41% in the last quarter the largest fall ever Nationwide now lending 90% for first time buyers reversing previous change Stamp Duty slashed until 31 March 2021 by raising the threshold to 500,000 Chancellor Rishi Sunak keen to boost the property market and “build build build” New planning rules will open up more opportunities to make money in property Opportunity is everywhere for everyone, especially in property! But you have ACT!  Even the 'Secret law of attraction' requires you to get off your ass and TAKE ACTION! Homeowners will get vouchers of up to £5,000 for energy-saving improvements The poorest will receive up to £10,000 in £2 billion energy saving grant scheme Will your job be one of millions phased out by automation, innovation and AI? You don’t need your own money to create a second income in property  Time to your economy or Uconomy started whatever the economy is doing! You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash   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 working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?  By Charles Kelly, 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 how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com E-Commerce Cashflow 19th July, 2020 7:00 PM (UK) Learn how to... Build a profitable e-commerce business in less than 90 days. Replace your income in months. Help get the products to people that they need the most. Be able to spend more time doing what you love, with the people you love. Join the free training here: https://bit.ly/3gLXaKW  

Home Owners Trapped In Rip-Off High Rate Mortgages, MP's Call For Government Action

Listen to Home Owners Trapped In Rip-Off High Rate Mortgages, MP's Call For Government ActionBritish MPs are urging the government to intervene and help 170,000 "prisoners" who are trapped it mortgages with high interest rates. Many of the borrowers are lower paid frontline workers, like nurses and hospital workers, who have no choice but to pay up to double the interest they would be charged on a normal competitive mortgage. They cannot re-mortgage to a cheaper deal offered by other lenders due to stricter affordability rules brought in by the Bank of England after they borrowed the money. MPs are now calling on the government to order regulators to investigate the profits firms make from the borrowers. They want the Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA) to consult and introduce a cap on so-called “standard variable rates”, which will help all borrowers coming out of fixed or discount rate mortgage deals. Hundreds of thousands of borrowers are unable switch mortgages because their loan is too high against the value of their home or because they are now too old to re-mortgage. This leaves them at the mercy of their lender which can legally charge whatever rate they like. The FCA reformed the affordability rules last October to allow lenders to help mortgage prisoners with cheaper home loans, but no lenders have changed their criteria. Borrowers with bankrupt lenders, such as the Northern Rock, are prisoners to the new owners who are neither offering competitive products or looking after their borrowers. Some borrowers have been paying between 6% and 9%pa after coming off initial fixed rates several years ago. Self-employed have only days left to apply for government grant phase 1. If you’re eligible and your business has been adversely affected you must make your claim for the first grant on or before 13 July 2020. This scheme is being extended. If you’re eligible for the second and final grant, and your business has been adversely affected on or after 14 July 2020 you’ll be able to make a claim from 17 August 2020. You can make a claim for the second grant if you’re eligible, even if you did not make a claim for the first grant. Find out more about the extension to the scheme.  Apply here: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme#extension In this Money Tips Podcast episode:   Nationwide starts lending again to riskier home buyers Travellers arriving in the UK from dozens of countries no longer need to self-isolate  Rules relaxed for arrivals from more than 70 countries and British overseas territories Beauty salons and “open air gyms” allowed to reopen with more reopening to follow Eat out to help out meal deal scheme launches in August to help hospitality sector Stamp Duty slashed until 31 March 2021 by raising the threshold to 500,000 Chancellor Rishi Sunak keen to boost the property market and “build build build” New planning rules will open up more opportunities to make money in property Opportunity is everywhere for everyone, especially in property! But you have ACT!  Even the 'Secret law of attraction' requires you to get off your ass and TAKE ACTION! Homeowners will get vouchers of up to £5,000 for energy-saving improvements The poorest will receive up to £10,000 in £2 billion energy saving grant scheme Will your job be one of millions phased out by automation, innovation and AI? You don’t need your own money to create a second income in property  Time to your economy or Uconomy started whatever the economy is doing! You can create a second income during the lockdown…and come out stronger Learn how to make money from property without deposits, mortgages or cash   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 working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?  By Charles Kelly, 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 how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com E-Commerce Cashflow 19th July, 2020 7:00 PM (UK) Learn how to... Build a profitable e-commerce business in less than 90 days. Replace your income in months. Help get the products to people that they need the most. Be able to spend more time doing what you love, with the people you love. Join the free training here: https://bit.ly/3gLXaKW

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Welcome to Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness. Charles spent over 25 years in financial services working for banks, insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy and property business. Money Tips will help you save, make and accumulate more money whether you are a business owner, entrepreneur, employee or still searching for your vocation. For more tips and information visit Mondeytipsdaily.com. The Information given in this podcast is for your entertainment and should not be construed as financial advice. As always, take independent financial advice before making any investment decisions.

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