families

Financial Strain Is ‘Huge’ for Patients, Families in CF, Report Finds | Families in UK Lose More Than £6,500 Annually Due to CF Burden

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A hand holds up a coin against a backdrop of dollar signs and packets of money.

Having cystic fibrosis (CF) can put a tremendous financial strain on patients: In the U.K., the typical family affected by the genetic disease will lose more than £6,500 (about $8,000) every year as a consequence. That’s according to a new report, “The Financial Costs of Cystic Fibrosis,” published by researchers at the University of Bristol. … Read more

Return of the ‘holiday home mortgage’ as families favour British breaks over Europe

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Mortgage lenders and property investors are backing a staycation boom this year as families favour UK holidays over expensive trips abroad. The number of mortgages available for holiday let owners has more than doubled since October amid renewed confidence amongst banks and building societies. Investors can now choose from 411 deals, up from 173 three … Read more

Inheritance tax threshold – bereaved families pay record amounts

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Families will pay out a record amount of inheritance tax to the Treasury, official figures have revealed. Bereaved relatives paid £5.3bn in death duties between April and December 2022, which is £700m more than the same period a year before, according to HM Revenue and Customs.  Families paid £545m in December alone, up from £474m … Read more

Investigations continue as two families mourn mums after fatal boat crash

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Video: Investigations continue as two families mourn mums after fatal boat crash Investigations continue as two families mourn mums after fatal boat crash We’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later. Dismiss Skip to sections navigationSkip to contentSkip to footer One of the boat crash survivors remains … Read more

Families miss out on £600m of inheritance tax breaks

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 Another reason why taxpayers may be missing out on IHT relief, he said, is because they may not have revisited their wills since the allowance was introduced in 2017.  “Many individuals will have set up their wills so that their assets are transferred to a discretionary trust and in order to qualify for the relief … Read more

Families feared to have needlessly paid extra £600m of inheritance tax

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One relief which allows spouses to transfer assets between one another tax-free saved families £500m less than HMRC expected. Another, the residence nil-rate band, cost the taxman £1.3bn in 2019-20, £100m less than previously estimated. Chris Etherington of the tax firm RSM said the disparity between the estimated and actual savings shows many taxpayers do … Read more

‘Dire times’ for families juggling back-to-school fees with rising costs of living

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“Our financial hardship category has also increased by 82.54 per cent for the month of December, from 2423 applications in 2021, to a huge 4423 in Dec 2022,” State Schools’ Relief CEO Sue Karzis said. After Chelsea Ulyatt, from Endeavour Hills in south-east Melbourne, adds up the family expenses, there is little left over for … Read more