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Amazon’s founder stands by his words, calling out the decline in media trust.

Without the added the grind of commuting, baby boomers essentially have the best of both worlds; they can retain their current income while also taking up gardening, walking and yoga.

A HUGE change to inheritance tax to close loopholes and raise £3billion has been revealed by the Chancellor.

Rachel Reeves revealed the changes in her Autumn Statement.

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AFP

Britain’s Chancellor of the Exchequer Rachel Reeves delivers her Autumn budget statement in the House of Commons[/caption]

Rachel Reeves said: “Only 6% of estates will pay inheritance tax this year. I understand the strongly held desire to pass down savings to children and grandchildren.

“So I am taking a balanced approach in my package today. First, the previous government froze inheritance tax thresholds until 2028. I will extend that freeze for a further two years, until 2030.

“That means the first £325,000 of any estate can be inherited tax-free… rising to £500,000 if the estate includes a residence passed to direct descendants…. … and £1million when a tax free allowance is passed to a surviving spouse or civil partner.”

Inheritance tax is currently charged at 40% on the property, possessions and money of someone who has died if they are worth more than £325,000.

Fewer than one in 20 estates currently pays death duties as many estates fall below this threshold.

But the tax raises about £7billion a year for the Government.

There are several exemptions and reliefs which mean you do not need to pay inheritance tax, including gifts or giving to charity.

There are also exemptions if you leave land or pasture which is used to rear animals or to grow crops through agricultural relief.

How much is inheritance tax?

There’s normally no Inheritance Tax to pay if the value of your estate is below the £325,000 threshold.

You can also avoid paying the tax if you leave everything above the threshold to your spouse, civil partner, a charity or a community amateur sports club.

If your estate’s value is below the £325,000 limit, you will still need to report it to HMRC.

If you give away your home to your children – including adopted, foster or stepchildren – or grandchildren when you die, your inheritance tax threshold can increase to £500,000.

This is called the “main residence” band.

If you’re married or in a civil partnership and your estate is worth less than the upper limit, any unused threshold can be added to your partner’s when you die.

This means their threshold can be as much as £1million.

The standard inheritance tax rate is 40% – but it is only charged on the part of your estate that’s above the threshold.

For example, if your estate is worth £500,000 and your tax-free threshold is £325,000.

The inheritance tax charged will be 40% of £175,000 (£500,000 minus £325,000).

SAS hardman Jason Fox believes mastering the game of golf is as tough as special forces training.

The commando, spent two decades in the military operating in some of the world’s most hostile environments, first started playing just before the pandemic broke out.

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Jason Fox started playing golf before the pandemic[/caption]

Matthew Pover

He believes it is as tough as being in the SAS[/caption]

Since then he has become a committed golfer who is out on the course as often as his busy schedule allows.

He credits the game with helping him maintain his mental health.

He explained: “Golf is incredibly challenging, but so worth putting the effort in for.

“I’d certainly consider bringing my handicap down as big of a challenge as training for the SAS.”

Former Royal Marine Foxy, 48, was medically discharged from the military in 2012 with a diagnosis of post-traumatic stress disorder (PTSD).

He has told how he struggled with loneliness and considered suicide after leaving the forces.

Foxy now speaks extensively about mental health and uses his experiences to teach audiences how to be resilient and overcome adversity.

And he credits golf with helping him keep a balance to his mental health.

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He continued: “Golf is such a great release for me. It definitely helps keep me on the straight and narrow mentally.

“It’s so important to have a laugh and relax on the fairway. When you’re having a round it’s important to chat.”

Foxy’s passion for the game has seen him team up with trailblazing golf brand Stromberg to launch their Autumn/Winter collection – that allows golfers to attack the green whatever the weather may throw at them.

No stranger to extreme conditions, he put the collection through its paces in the iconic location of Land’s End – which is renowned for having some of the wildest weather in Britain.

He explained: “Britain produces some of the best soldiers in the world – because we train and learn to operate in the worst weather conditions possible. And if you can operate there – then when you’re on a mission everything falls into place.

“The same applies to the golf course. If you can master the game when it’s lashing down – then when it’s blue skies and sun overhead, it’s an absolute breeze. This new Stromberg collection provides the ultimate all-weather protection – so there’s absolutely no excuse not to be out on the fairway.”

And while the similarities between the fairway and special forces operations may not at first seem obvious, Foxy believes there are important parallels.

He explains: “You have to have the courage to put yourself into environments you might be uncomfortable in. It’s all down to the discipline of being able to operate at a very high level under any circumstances.

“There’s no substitute for hard graft and putting the hours in – especially when the conditions are against you.”

Jason Fox was clad in a range of the latest A/W gear, including the Bandit Waterproof Jacket, composed using Stromberg’s most water-resistant & breathable fabric, and the Tour Classic Waterproof Spiked Golf Shoes, featuring a stylish design with dynamic traction to provide on-course versatility.

Starting at just £29.99, golfers looking to weather-proof their wardrobe can now shop the collection in-store and online.

FUEL duty has been frozen for a 15th historic year in a massive win for drivers and The Sun’s Keep It Down campaign. 

The Chancellor used today’s Budget to stop petrol and diesel prices rising with inflation.

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Rachel Reeves with the red Budget Box leaves 11 Downing Street before presenting the government’s annual Autumn budget to Parliament[/caption]

PA:Press Association

The Chancellor used today’s Budget to stop petrol and diesel prices rising with inflation[/caption]

And in a huge boost for cash-strapped Brits, Rachel Reeves confirmed the temporary 5p cut will also remain in place.

Ms Reeves said: “The budget I inherited assumes that fuel duty will rise by RPI next year, and that the temporary 5p cut will be reversed. Keeping the 5p cut and freezing fuel duty would cost over £3 billion next year.

“Given the challenging fiscal position, I must be frank with the House—this is a significant commitment.

“In these tough times, with high living costs and global uncertainty, increasing fuel duty next year would be the wrong choice for working people. It would mean a 7p per litre rise in fuel duty.

“So, I have decided to freeze fuel duty next year and maintain the existing 5p cut for another year.”

The Chancellor declared: “There will be no higher taxes at the petrol pumps next year.”

Motorists have enjoyed frozen rates since 2011 thanks to our campaign with FairFuelUK to protect people at the pump. 

If the duty had been allowed to rise in line with inflation since 2010, Britain’s drivers would now be paying 93.47p on a litre of fuel rather than the current 52.95p once VAT is included.

Fears had been mounting the Chancellor could increase fuel duty by as much as 7p to help fill a £40bn black hole in the country’s finances. 

But dozens of Tory MPs wrote to Ms Reeves to say it would crush working families and small businesses already drowning under rising costs.

And FairFuelUK founder Howard Cox and Tory MP Saqib Bhatti marched to No10 to deliver a petition on the matter signed by 131,000 drivers.

Mr Cox previously said there was no excuse for targeting drivers in the Budget when duty accounts for 60 per cent of pump prices.

Businesses only pay 25 per cent tax on profits.

Graham Stringer last week became the first Labour MP to back our crusade to freeze fuel duty.

Mr Stringer, the MP for Blackley and Middleton South said: “It would be a mistake to put fuel duty up.

“It would impact the economy. If we want to improve productivity which we do, hiking fuel is not the way to do it as it would hit businesses and the cost of doing business.”

In a special Never Mind The Ballots episode on fuel duty, Mr Cox also said increasing fuel duty would breach Labour’s manifesto promise not to raise taxes on working people.

He said: “Something like 70 per cent of people drive, 37 million drivers need their car.

“They have got no choice, especially in rural areas and suburban areas.

“We have got a situation where corporation taxes are 25 per cent, income tax, the highest at 40 per cent, and fuel duty is 60 per cent so why put it up even more.”

MILLIONS on benefits are set to get an increase of £253 next year as the Chancellor confirms the rise in her Autumn Statement.

From next April, claimants will see payments rise by 1.7%, making it a significantly lower boost than in previous years.

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Britain’s Chancellor of the Exchequer Rachel Reeves confirmed benefits will rise by 1.7% next April.[/caption]

BBC

That is because the rise is based on September’s inflation figure in a process known as “uprating”.

Earlier this month, the Office for National Statistics (ONS) published its reading for September, with the figure coming in at 1.7%.

It marked the first time that inflation fell below the Bank of England‘s 2% target in three years.

Inflation is a measure of how much the prices of everyday goods such as food and clothes, and services such as train tickets and haircuts, have increased compared to a year earlier.

While a low reading can be good for the economy, the figure means millions claiming benefits will get a smaller boost than in previous years.

For example, last year the majority of benefits were confirmed to increase by 6.7% although a few rose by as much as 8.5%.

Meanwhile, in 2023 inflation-linked benefits and tax credits were hiked by 10.1%.

Previous analysis by the Joseph Rowntree Foundation, which works on tackling poverty, said the 1.7% increase means the standard allowance basic rate of Universal Credit will rise by around £1.50 a week from its current level of £90.55.

Meanwhile, the basic rate for couples will go up by around £2.50 a week from the current level of £145.13 a week.

The group said the changes will mean a typical low-income family with two children would see its annual UC award rise by £253 next April.

The following benefits are also legally required to increase each April in line with the previous September’s rate of inflation: 

• Personal independence payment (PIP)
• Disability living allowance
• Attendance allowance
• Incapacity benefit
• Severe disablement allowance
• Industrial injuries benefit
• Carer’s allowance
• Additional state pension
• Guardian’s allowance

This means that those who currently receive the lower rate of Attendance Allowance will see their weekly payment rise by £1.23 to £73.85.

Those on the higher rate of £108.55 will see their weekly allowance rise by £1.85.

In comparison, those on Carers Allowance will see their weekly payment rise by £1.39 to £83.29.

What the budget means for benefit claimants

Around one million families on Universal Credit are also set to get a £420 boost as part of the Chancellor’s Autumn Budget.

Rachel Reeves has confirmed she will lower the cap on the maximum level of deductions that can be taken from a person’s benefit payments.

The Department for Work and Pensions can deduct money from a Universal Credit claimant’s allowance to help them pay back debt.

These can cover a range of debts, such as benefit advances, overpayments of child tax credits, rent and council tax areas, as well as outstanding water and utility bills.

Under previous rules, the DWP and third parties could deduct up to 25% of a claimant’s standard allowance to help manage their debt repayments.

But this has now been capped at 15% in efforts to help some of the worse-off homes across the UK pay off what they owe over a longer period.

The measure known as the Fair Repayment Rate will come into effect next April.

MILLIONS of people are set for a bumper rise of up to £473 to their state pension payments, it has been revealed.

It comes as Chancellor Rachel Reeves announced as part of today’s Autumn Statement that the pension triple lock will remain intact.

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Rachel Reeves has revealed exactly how much the state pension will rise by next year[/caption]

The Autumn Statement provides an update on the government’s plans for the economy.

These are issued twice a year, once at the Budget in the spring and once at the Autumn Statement.

Ms Reeves presents the plans for the next year during a speech in the House of Commons which includes tax and spending changes.

The amount pensioners get from the state rises every year in order to keep up with the cost of things like food and household bills.

The Chancellor has now confirmed that payments will increase by 4.1% in April 2024.

That’s because the triple lock system sees the state pension rise in line with whatever is highest out of: wages for May to July, 2.5% or September’s inflation figures.

Growth in employees’ average total pay was 4.1% in the three months to July, while the UK’s rate of inflation fell to 1.7% in September.

It means pensioners on the new state pension will be looking at as much as £473 a year.

This is up from just over £11,502 to £11,973 a year, and a weekly rise from £221.20 a week to £230.31.

It’s important to note that this is for those entitled to a “full” new state pension – not everyone will receive the full amount.

How much individuals get is based on the number of qualifying years they’ve accrued.

Older pensioners who retired before April 2016 will get a weekly rise from £169.48 to £176.45, and an annual rise from £8,812.96 to £9,175.61.

The news today will come as a welcome relief for millions of pensioners.

Last year, pensions rose by 8.5% in line with wages for May to July.

The year before, they rose by a whopping 10.1% following high inflation in September.

How much state pension will I actually get?

The amount of new state pension you receive depends on your National Insurance (NI) record throughout your adult life. 

If you have made at least 35 years of qualifying NI contributions, you may qualify for the maximum amount, outlined above. 

The same is true if you have received equivalent credits on your NI record for raising children or providing care. 

If you don’t have 35 years, you may be able to top up your record by paying in voluntary NI contributions. 

To get the full basic state pension you will need 30 years of NI contributions or credits. 

To get any state pension at all, you will need at least 10 years on your NI record. 

What age do I get the state pension?

In response to rising life expectancy, the age at which you become eligible to receive the state pension has been going up.

The age is now 66 for both men and women and is set to reach 68 by 2039.

How do I claim the state pension?

You won’t automatically get the state pension – you need to claim it once you’re eligible.

You should receive a letter no later than two months before you reach state pension age, explaining what to do.

You can find out more here. 

You can choose to defer getting the state pension – you don’t have to take it as soon as you are eligible when you reach state pension age.

Leaving your state pension untouched can boost the amount you eventually get.

If you opt to defer your state pension, your entitlement increases by the equivalent of 1% for every five weeks you do so.

As the state system can be tricky to navigate, a key part of any pension planning involves requesting a state pension forecast.

This will help you get your head around how much you could be eligible to receive, and from what age. 

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

CHINESE EV maker Xiaomi have built the world’s fastest four-door car – and it’s well on its way to beating an official record.

The up-and-coming car brand’s SU7 Ultra prototype recently recorded a super lap around the infamous Nurburgring Nordschleife circuit located in Nurburg, Germany, and beat a previous time set by Porsche in the process.

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Chinese EV maker Xiaomi have built the world’s fastest four-door car[/caption]

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The incredible machine was unveiled earlier this year as they look to take on Porsche[/caption]

Chinese electronics brand Xiaomi, known for their range of smartphones and electronics, entered the bold world of EVs back in March with its Speed Ultra 7, or SU7.

Then, in July, the ambitious brand showed off the SU7 Ultra – a high-performance electric saloon with a top speed of 217mph and more power than a Bugatti Chiron, according to AutoExpress.

The brand promises to launch a production version in 2025, as part of their giant plans to become one of the world’s leading automakers.

Part of that plan includes producing the fastest four-door EV – to firmly put German marque Porsche in their place.

Porsche have held the record with a time of 7 minutes and 7.55 seconds – set by the Taycan Turbo GT – which officially still stands, as the Xiaomi effort beat it using a prototype.

Xiaomi’s prototype – which achieved a time of 6 minutes and 48.874 seconds – was merely a stripped-down version, without a proper dashboard and a racing steering wheel, and was generally far from a production-ready car.

Driven by British racer David Pittard, who recently won the 2023 24 Hours of the Nurburgring, the car even suffered a mishap mid-lap, when the accelerator pedal temporarily failed.

The general consensus is that the production SU7 Ultra will likely be able to beat Porsche’s time – with over 400bhp more power than the Taycan Turbo GT, and less weight.

Chinese manufacturers have taken to the famous track in the past, including Nio with their EP9 electric hypercar in 2017.

On that occasion, they achieved a time of 06:45.09 – although it was done using bespoke tyres which voided it from the production car lap record.

At the SU7’s unveiling back in March, Lei Jun said that Xiaomi wants to build a “dream car” that’s comparable to Porsche and Tesla.

He added: “If we want to build good cars, we must seriously learn from these two best car manufacturers in the world.”

The all-electric car comes in three different specs; SU7, SU7 Pro and SU7 Max, with the base model managing 434 miles of range.

UK petrolheads interested in the SU7 may have to remain patient for its release overseas, as it’s not yet clear if Xiaomi will be selling its EV outside of China.

This comes as we sent one of our Sun Motors’ reporters to drive a lap around the legendary Nurburgring circuit, and it nearly went horribly wrong.

Elsewhere, a gorgeous one-of-a-kind Porsche with a curious interior trim can be yours for an astronomical price.

An extra-special 911 ‘Turbo Remastered’, which was released in 2024 by Porsche Sonderwunsch, has been described as a once in a lifetime find.

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The SU7 Ultra beats the Porsche Taycan Turbo GT for power and weight[/caption]

AFP

The production version will be released next year[/caption]

DWP will have access to your bank accounts to tackle debt as millions of Brits have been ordered to “get back to work” or risk losing their benefits.

Chancellor Rachel Reeves confirmed in the Budget today a raft of measures to get Brits back into the workforce as part of a crackdown on unemployment.

The Chancellor said: “We will expand DWP’s counter-fraud teams using innovative new methods to prevent illegal activity and provide new legal powers to crackdown on fraudsters including direct access to bank accounts to recover debt.

“This package saves £4.3billion a year by the end of the forecast.

“The government will shortly be publishing the ‘Get Britain Working’ white paper tackling the root causes of inactivity with an integrated approach across health, education and welfare.

“We will provide £240million for 16 new trailblazer projects targeted at those who are economically inactive and most at risk of being out of education, employment or training to get people into work and reduce the benefits bill.”

It comes after it was confirmed this week that local services would get a £240million funding boost to “get Britain working”.

The Government will seek to “tackle the root causes of economic inactivity”, Sir Keir Starmer said in a speech earlier this week.

“Trailblazers” in local areas will bring together and streamline work, health and skills support to disabled people and the long-term sick.

The Prime Minister said: “Rebuilding Britain and delivering growth will take the skills and effort of all of us.

“That’s why this Budget will also get Britain working. It will pave the way for reforms that tackle the root causes for economic inactivity and make sure that those who can work do work.

“As a Labour Government, we will always help those who cannot support themselves, but the UK is the only G7 country for whom inactivity is still higher than it was before Covid.

“And that’s not just bad for our economy, it’s also bad for all those who are locked out of opportunity.

“So the Chancellor will announce £240 million in funding to provide local services that can help people back into work and the dignity that that brings.”

Labour had previously promised reforms to help the “lockdown generation” get back into employment, and ministers expected to publish a “Get Britain Working” white paper due this autumn.

When Liz Kendall took over as Work and Pensions Secretary after the July election, she said Labour’s goal to reach an 80 per cent employment rate would mean getting two million more people back into work.

She also said powers and resources would be transferred to mayors and local areas to lead work, health and skills plans for the economically inactive.

Economic inactivity has soared by 900,000 to 2.8 million people since before Covid in 2020.

Around 85 per cent of this due to those who are long-term sick, according to a report from the BCG Centre for Growth and the NHS Confederation published in September.

Wednesday’s Budget is set to be the first one under Labour government for 14 years.

The £2 cap will increase to £3 in a bid to help plug the £22bn black hole in the public purse.

Inheritance and capital gains tax will also go up, alongside a two per cent rise on National Insurance paid by employers.

Income tax thresholds will be held beyond 2028, while duties on beer and vapes are set to rise.

ONE million families on Universal Credit are set to get a £420 boost as part of the Chancellor’s Autumn Budget.

Rachel Reeves has confirmed she will lower the cap on the maximum level of deductions that can be taken from a person’s benefit payments.

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BBC

Rachel Reeves confirmed the rise in her budget today.[/caption]

The Department for Work and Pensions can deduct money from a Universal Credit claimant’s allowance to help them pay back debt.

These can cover a range of debts, such as benefit advances, overpayments of child tax credits, rent and council tax areas, as well as outstanding water and utility bills.

Under previous rules, the DWP and third parties could deduct up to 25% of a claimant’s standard allowance to help manage their debt repayments.

But this has now been capped at 15% in efforts to help some of the worse-off homes across the UK pay off what they owe over a longer period.

The measure known as the Fair Repayment Rate will come into effect next April.

Government hope the move, which will target some of the worse-off families across Britain, will help head off criticism over decisions to means-test the £300 Winter Fuel Payment and keep the two-child benefit cap.

TYPES OF UNIVERSAL CREDIT DEDUCTIONS

There are a number of reasons why the Department for Work and Pensions (DWP) will deduct money from your Universal Credit allowance to help pay off any debts.

Conor Lawlor, benefits expert at Turn2us, says: “These debts can accrue in several ways, including for Universal Credit and other benefit overpayments (even if the overpayment was made in error by DWP), benefit advances and recovering hardship payments.

“The DWP can also deduct on behalf of third parties if a claimant is in debt to them, including for rent and service charge arrears, council tax arrears, court fines, child maintenance, and for utilities like electricity, gas and water.”

However, it’s important to note that not every deduction is compulsory, and some are voluntary.

Here are the six main forms of deductions you could be affected by…

1. ADVANCE PAYMENTS

One of the most common reasons for a Universal Credit deduction is because a claimant applied for advance payments.

When you make a new claim for Universal Credit, you will normally receive your first payment seven days after the end of your first assessment period (four weeks) – this is known as the “five-week wait”.

You can apply for an advance payment of your Universal Credit if you are in financial hardship while you wait for your first payment, for example, if you can’t afford to pay your rent or buy food.

However, as this is a loan, you will be expected to pay it back.

The first deduction is made on the day you get your first payment.

You must usually pay back the advance within:

• 24 months if you apply for the advance if you’ve made a new claim for Universal Credit
• Six months if you apply for the advance because of a change of circumstances

2. BUDGETING ADVANCE

The budgeting advance should not be confused with an advance payment.

Instead, this is an interest-free loan that can be used to cover certain expenses like household furniture, equipment, and clothing.

What you get will depend on how much you need.

The smallest amount you can borrow is £100. You can get up to:

• £348 if you’re single
• £464 if you’re part of a couple
• £812 if you have children

The budgeting loan repayments will be taken automatically from your benefits.

The amount you repay is based on your income.

A budgeting advance should normally be repaid within one year, but this is extendable to 18 months in exceptional circumstances.

3. UNIVERSAL CREDIT OVERPAYMENTS

If you’ve been paid too much Universal Credit you’ll accure an overpayment.

To learn more about an overpayment, sign into your online Universal Credit account, go to your journal, and look for a message about overpayments.

If money is being deducted from your Universal Credit to pay back the overpayment, the amount deducted depends on your circumstances.   

If you are receiving Universal Credit and have no earned income, the maximum amount that can be deducted from your Universal Credit for overpayments is 15% of your standard allowance. 

If you are receiving Universal Credit and have some earned income, the maximum amount that can be deducted from your Universal Credit for overpayments is 25% of your standard allowance.

4. TAX CREDIT OVERPAYMENTS

If you are getting tax credits and you claim Universal Credit, HMRC will be told to stop your tax credits.

However, if you receive tax credits after you have made your claim to Universal Credit this could result in you being paid too much tax credits. 

Universal Credit will take action to get this money back as well as any other tax credit over-payments you have.

HMRC will send you a letter called “Your Tax Credits over-payments (TC1131)”.

This will tell you about any tax credit repayments that will be taken out of your Universal Credit payments.

5. FRAUD AND SANCTIONS

If you deliberately do not provide details about a change in your circumstances that could affect your Universal Credit payments or you give false information, this is fraud. 

A fraud penalty or sanction will reduce your Universal Credit standard allowance.

This can be up to 100% of your standard allowance if you are single, or up to 50% for each person in a joint claim.

If a fraud penalty or sanction is being taken from your Universal Credit payments, no other repayment or deduction will be taken, except for last-resort deductions. 

6. THIRD-PARTY DEDUCTIONS

A third-party deduction is an amount that is taken from your Universal Credit payments and paid direct to the person or organisation you owe money to, such as your landlord or your gas or electricity supplier (Fuel Direct).

Third-party deductions can also be taken, without your permission, for things like:

• Housing costs (for example, rent arrears for your current address)
• Unpaid rates
• Child maintenance

Only three third-party deductions can be taken at any one time.

Universal Credit will send you a message in your online journal when a third-party deduction starts.

Third-party deductions are fixed at 5% of your Universal Credit standard allowance for each third party. 

However, for rent, deductions are fixed between 10% and 20%.

Unlike the other non-voluntary deductions listed above, claimants can initiate deductions for certain bills to help better manage their costs.

For example, you can contact your energy supplier to set up deductions for your ongoing bills through the Fuel Direct scheme.