Will my children have to pay capital gains tax on my flat when I die?

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?

It's no secret that some office phrases and buzzwords can seriously annoy colleagues to the point of frustration - and once again 'touch base' is the worst offender, a survey shows.

ASK TONY: My electricity reading rocketed 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.

Pro-Brexit Mr Martin said the Prime Minister had run into 'difficulties' over Brexit because she has prioritised making a deal with 'unelected EU representatives.'

Since I started this column, I’ve had a number of letters saying more or less the same thing: It’s all very well chatting about investing, but how do we get started?

Clare Nesbitt had a child shortly before shoe-shop chain Footasylum – whose co-founder is David Makin, Nesbitt's father – floated on the London Stock Exchange for £171m.

The DIY giant, which is part of the same group as Screwfix, has invested £100m in lowering the price of 2,000 products, and is backing away from promotions like multi-buys.

* No FSCS protection, instead covered by French deposit guarantee scheme. For current account rewards and interest conditions may apply eg. using provider's full switching service, min deposits and direct debits. For savings, access maybe limited, min/max deposits may apply. See T&Cs. Representative example: If you spend £1,200 at a purchase interest rate of 18.95% p.a. (variable) your representative rate will be 18.9% APR (variable).





FTSE LIVE: Fox hikes bid for Sky and Burberry UK sales knocked

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.

The group is now on track to beat profit expectations, which are expected to come in at around £835million, up 9 per cent from £765.1million, and above market forecasts of £812million.

Fox's latest offer beats a previous offer from rival US-based bidder Comcast, which submitted a bid of £22billion, or £12.50 a share, for Sky in February.

The row erupted after the 73-year-old’s latest venture S4 Capital outbid his former employer WPP for Netherlands-based media agency Mediamonks.

Scicluna, who also chairs More Than owner RSA Insurance and Great Portland Estates, is joining the chain as it presses ahead with a £13bn merger with Big Four rival Asda.

The happiest with their bonuses were staff at Natwest-owner Royal Bank of Scotland, followed by HSBC and Barclays, a survey of 2,530 bankers found.

A £10,000 bill for a mobile phone Rachel barely uses

Rachel Howkins, 70, was hit by the enormous charge after provider Unicom claimed she had used more than 17 gigabytes of data - which is enough to watch around nine films - in one afternoon. Unicom claims the data charges were incurred between midday and 8pm in February 2018, while she was at home.

How you can now claim a refund if you hate your holiday hotel's food

No one likes to imagine their dream holiday going wrong — but it's always better to be prepared, just in case. From having your airline or hotel provider go bust to missing your plane or losing your luggage... Here's how to handle the most common holiday disasters.

Renee Hensman, who is 95 years old, hard of hearing, blind in one eye and suffers from arthritis has been on an expensive, outdated home insurance policy for more than a decade.

Co-operative Insurance says it cannot treat elderly customers differently as it would be 'deemed unethical' to 'prejudice our customers based on their age'. Shame on them.

Road to Zero policy outlines the Government's strategy to shift to electric cars

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.

Widows, widowers and bereaved civil partners have been able to claim an extra Isa allowance called the Additional Permitted Subscription (APS) since 2014.

While the rates look better than the 1.3 per cent on a standard easy-access, it means some £24.50 extra interest on each £10,000 over six-months.

Simple trick to get one-year fixed-rate savings account paying 7%

Savers who are looking for fixed-rate savings account could grab a deal paying far beyond the current rate of inflation with a simple trick. At present, savings platform Raisin, which This is Money has written about in the past, is offering a £50 sign-up deal for new customers who use it.

At present, there is no rule on how many consecutive contactless payments can be made before you must input your PIN, but any purchase over £30 does require you to do so.

The Bank of England should be given expansive new powers to halt house price inflation for five years according to the left-wing think tank IPPR.

The top 10 best hot hatchbacks on sale today 

A hot hatch must be savagely fast but also practical enough to be used all the rest of the time; tackle trips to the tip, the school run, five-up journeys to the coast. Here are the best ones. Clockwise from top left: Hyundai i30N, Ford Fiesta ST, VW Golf R, Honda Civic Type R.

Can my husband divorce me without me knowing? And if he has cashed in his pension, can I claim my share back? Lawyer John Fotheringham (pictured) replies.

Like struggling retail counterparts Carpetright, New Look and House of Fraser, Mothercare believes that store closures through a CVA will give it the breathing room it needs

Millions of Britons give to good causes every year and trust one of the 180,000 or so charities in the UK to use our money to make a difference. But how can we make sure our cash is having an impact?

Investors in a failed mini-bond are celebrating after the ombudsman upheld complaints about the role of a firm who promoted them with bold claims.

Burberry sales rise but warns of falling tourist numbers in UK

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.

Corporate raider Seth Fischer, who runs Oasis Management, turned up the pressure on Premier Foods chief exec Gavin Darby just days before the firm’s annual general meeting next Wednesday.

The discount retailer went bust last month and Deloitte, which is overseeing the process, has been attempting to find a buyer for the business ever since.

Blunder that cost trading boss £15m bonus... and his job: TP Icap chief fired

John Phizackerley was sacked over a cost cutting pledge that the City trading firm has realised will be impossible to deliver. TP Icap is expected to treat him as a ‘bad leaver’ meaning he will not be entitled to anything from a bonus payout which would have been worth up to £15m.

Sorrell was nowhere to be seen as the ink dried on his new company S4 Capital’s £266m acquisition of Dutch firm Mediamonks, a deal likely to provoke fireworks with former employers WPP.

Royal Mail faces a revolt over lavish pay handed to bosses. Shareholder advisory services ISS and Glass Lewis have urged investors to reject pay reports at the company's AGM.

The British drinks giant, whose brands include Guinness and Smirnoff, wants to raise its stake in Sichuan Shui Jing Fang (SJF) from 39.71 per cent to 60 per cent.

The online supermarket has put aside the money to pay out awards and bonuses to top directors next year as it slid to a £9m loss in the 26 weeks to June 3, from a £7.7m profit a year earlier.

Harry Kane £5 notes will enter circulation if England win next game

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.

We look at what new investment trust 'key information documents' provide to investors, which parts are most worth investigating, and how to use them when deciding where to put your money.

BT will hike the current £5 a month charge by 50 per cent from August 22nd. Existing customers who use a BT email address will not have to pay the fee.

How can you fight back if a step-parent disinherits you?

I need to get a copy of my mother’s will. My stepfather’s daughters have got all the funds and my brother and I have been pushed out. However, in her will, it was meant to come to us. Lawyer Andrew Wilkinson (pictured) replies.

Consumer spending rose 5.1 per cent in June, the same as in May, which was the highest level seen since April last year, according to the latest set of data by Barclaycard.

Road to Zero plan won't ban hybrids in 2040 but they may be pricier

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.

How do I raise money and find investors for my start-up?

'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.

Coventry Building Society and Bank of Cyprus UK have launched two new market-leading easy access savings deals while Atom Bank has added two new fixed rate bonds to its ranks.

Some six and a half million retirees forked over £24billion in total in 2015-16, the most recent tax year for which figures were available.

GripIt founder Jordan Daykin tells how he 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.

Monzo and Starling have handed those trying to get back on track what could be a lifeline - the option to automatically block payments to betting shops and gambling sites from their current account.

The Georgian Grade II house for sale has a prestigious blue plaque featured on the front revealing that the impressionist painter Lucien Pissarro lived there.

Are we seeing a shake up in the savings world? Listen to the This is Money podcast 

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?

Our Start-up Doctor Andy Yates, a successful entrepreneur and angel investor, explores how entrepreneurs can raise cash for their start-up.

How to reclaim lost riches locked up in shares, savings and other 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.

The Office for National Statistics is expected to say the economy grew by as much as 0.3 per cent in the three months to the end of May.

The latest indications suggest we will indeed see the rate edge up a smidgin in August (possibly from 0.5 to 0.75 per cent), partly because of all that sun-induced shopping.

How claims firms are swooping on delayed passengers at airports

Those who fall prey could lose hundreds of pounds despite being able to claim what they are owed for free. Passengers are entitled to statutory compensation of up to €600 (£530) if their plane lands more than three hours late. They can easily make the claim themselves for free.

MIDAS SHARE TIPS: Halfords' tour de force should see shares climb 

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.

Bets worth more than £240million have been placed against the FTSE 250 company, whose shares have come under pressure recently because of the clampdown on plastic packaging waste.

The demand for new clothing follows a dismal start to the year marked by falling visits to high streets that sent some chains into a spiral.

Britons can buy a property bargain in the sunniest spots in the country for less than

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.

Average prices grew by 1.8 per cent over the period, but in the last three months the cost of an average home fell by 0.7 per cent, marking the biggest quarterly decline since February 2012.

According to the Conveyancing Association, failure to disclose the leasehold details breaks consumer protection rules and could mean developers face criminal investigation.

Why England's success at the World Cup has cost Auto Trader more than £187k

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.

In this series we are breaking the subject of income investing down into manageable chunks. In this, the final part, we look at how to manage a portfolio for total return.

Something fund managers and people with their own money to invest should consider now is, are the robots becoming better stock pickers than humans, just as they are better chess players?

How much is an Avios point worth?

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.

New best buy bonds mean savers can now get better deals than at any time since the start of 2016, according to an index from independent advice website Savings Champion.

"No smoking" sign on a wall --- Image by © Christopher Stevenson/Corbis

We pick our five favourite cash Isas for savers. This is essential Isa reading and is kept up-to-date throughout the year

When will UK interest rates rise?

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.

We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

Pick the best (and cheapest) investment Isa platform

Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.

We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too.

Rightly or wrongly, some people simply want a quick, straightforward route map to investing in an Isa. To that end, this is our distilled guide to getting started.

What next for mortgage rates?

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.

Ten tips for buy-to-let: Essential advice for property investment

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 Suffolk £40,000
£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
£100,000 Staffordshire £17,000
£100,000 Oxfordshire £15,000
£100,000 East Sussex £25,000
£50,000 Devon £20,000
More July 2018 winners
View list of July 2018 winners





Big Money Questions


Tourist rates

Currency Rate Buy now
Updated 11 Jul 2018.
Euro 1.105 Buy Now
US Dollar 1.297 Buy Now
Australian Dollar 1.747 Buy Now
Canadian Dollar 1.697 Buy Now
Chinese Yuan 8.537 Buy Now
Croatian Kuna 8.136 Buy Now
Czech Koruna 28.44 Buy Now
Danish Krone 8.257 Buy Now
Egyptian Pound 16.27 Buy Now
Hong Kong Dollar 10.11 Buy Now
Hungarian Forint 356.2 Buy Now
Icelandic Króna 133.0 Buy Now
Israeli New Shekel 4.633 Buy Now
Japanese Yen 143.4 Buy Now
Malaysian Ringgit 6.2624 Buy Now
Mexican Peso 24.1 Buy Now
New Turkish Lire 6.07 Buy Now
New Zealand Dollar 1.897 Buy Now
Norwegian Krone 10.4 Buy Now
Polish Zloty 4.759 Buy Now
Russian Rouble 70.96 Buy Now
Singapore Dollar 1.751 Buy Now
South African Rand 17.37 Buy Now
Sterling 1.0 Buy Now
Swedish Krona 11.34 Buy Now
Swiss Franc 1.284 Buy Now
Thai Baht 42.89 Buy Now
UAE Dirham 4.761 Buy Now
TUI discount codePretty Little Thing discount codeSports Direct discount code