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IOL News
5 hours ago
- Entertainment
- IOL News
Top Father's Day gifts to avoid and better alternatives
Gifts your dad might actually like this Father's Day. Image: RDNE Stock project / Pexels It's Father's Day on Sunday, and if you've left your shopping to the last minute, we have a few gift ideas for you. But before you head to the shops, there are a few gifts that you might want to give a miss this year because, while well-meaning, they often just end up collecting dust or, even worse, regifted to one of your uncles. First up are socks. Nothing says 'I had no idea what to get you' like a pair of socks. Don't you think he has enough socks by now? Next on the list are those prepackaged, cheap cologne sets. It might seem like a winner because who doesn't like to be spoiled with new cologne, but unless you know exactly what cologne he likes, this gift will probably go unused. Now, let's talk about those 'Best Dad' mugs. How many of those mugs does he need, and how often have you seen him use them? They're just dust collectors with handles. This one might not apply to everyone, but if your dad already owns slippers and a gown, there's no need to get him any more. Winter is in full swing, so why not invest in some good quality thermal underwear instead? Your dad doesn't need another mug. Image: RDNE Stock project / Pexels Now that you know what not to get dad this Father's Day, here are a few gift ideas that he might actually like. If your dad loves spending time in front of the TV, why not buy him a subscription to streaming platforms like Netflix or Showmax? This will give him easy access to hundreds of movies and series for him to binge-watch. For something a little different, gift him an experience. Think of live sporting events, beer tasting tours or tickets to see his favourite artist in concert. If he's the fit, outdoorsy type, then a walk along a beautiful hiking trail is something he would enjoy. Now, this might not sound like a typical male gift, but even dads need a bit of pampering now and then. Treat him to a full-body massage or spa day at a local wellness centre. Even dads need to be pampered once in a while. Image: Tima Miroshnichenko / Pexels If you're stuck and still have no idea what to buy him, then simply ask him. Many dads are happy to just spend quality time with their children, while others simply want to be left to do nothing all day! IOL Lifestyle
IOL News
03-06-2025
- Business
- IOL News
Divorce and pension interest: essential tips for navigating your rights
Discover essential guidelines for understanding pension interest in divorce proceedings. Learn how to navigate your rights and make informed decisions regarding retirement benefits with expert insights. Image: Stock project The term 'pension interest' arises in divorce proceedings and refers to a notional amount representing the retirement benefit the member spouse would receive from their retirement fund at the date of divorce. Calculating pension interest enables divorcing spouses to share in each other's retirement benefits immediately after divorce rather than waiting until formal retirement. The pension interest calculation takes place at the divorce date, provided the member's spouse is still an active member of the retirement fund at that time. For pension and provident funds, if the member spouse resigns or retires before the divorce date, no pension interest exists, and the benefit accrues solely to the member spouse, thereafter treated as an ordinary asset within the estate. It is crucial to understand that a divorcing spouse's right to claim pension interest depends significantly on the marital property regime: In community of property: Spouses share a single joint estate, and upon divorce, each spouse is entitled to claim 50% of the other's pension interest. Out of community excluding accrual (after 1 November 1984): Each spouse retains their own estate, and there is no automatic claim for pension interest. However, spouses may mutually agree to share pension interest. Out of community excluding accrual (before 1 November 1984): Each spouse maintains their separate estate with no automatic asset sharing, except where a court orders redistribution under Section 7(3) of the Divorce Act. Out of community, including accrual: Pension interest is considered when calculating accrual and shared accordingly. Pension interest calculations differ according to the type of retirement fund: Pension, provident, and preservation funds: Pension interest is the amount the member would have received based on resignation from the fund on the divorce date, as stipulated by the fund's rules. Retirement annuities: Pension interest comprises the total contributions made by the member up to the divorce date , plus simple annual interest calculated at the prescribed rate. Accurate wording of the divorce order is essential to successfully claim pension interest. Ambiguities can cause fund administrators to reject the settlement agreement, leading to costly high-court amendments. Thus, your divorce order must include: Explicit reference to 'pension interest' as defined in the Divorce Act; Clear identification of the specific fund involved; Details outlining exactly how much pension interest is owed to the non-member spouse, including the calculation method; Instructions for the fund to deduct and pay the non-member spouse and to endorse its records accordingly. Once the retirement fund confirms the validity of the divorce order, it must contact the non-member spouse to determine their payment preferences. Available options are either to receive the entire benefit in cash or transfer the benefit into another retirement fund. It is essential to note that the non-member spouse cannot partially withdraw cash when transferring the balance; the choice must be either a full cash withdrawal or a full transfer. Given the potential tax implications of withdrawal, seeking guidance from an experienced financial advisor is strongly recommended to ensure informed decision-making. * Tapfuma is a Certified Financial Planner professional at Crue Invest. PERSONAL FINANCE
Tatler Asia
30-04-2025
- Entertainment
- Tatler Asia
Surprising moneymakers: From polo to pro gaming, the niche sports with the highest-paid athletes
2. Esports Above Esports (Photo: RDNE Stock project via Pexels) Biggest prize money: The International 2019 (Dota 2) hit US$34.3 million total purse; winners bagged over US$15 million Why it pays: Streaming deals, brand sponsorships, and ownership stakes can eclipse even massive prize checks Esports has evolved into a billion-dollar industry—and one of the most lucrative for top players. Tournaments like The International and League of Legends Worlds offer staggering payouts, but real wealth comes from Twitch streams, YouTube content, and brand endorsements. Stars like Faker and N0tail have built empires, proving gaming is serious business. 3. Sailing (America's Cup) Above Sailing (Photo: Mike Knibbs via Pexels) Biggest prize money: Around US$1 million championship purse in SailGP, a spin-off from America's Cup Why it pays: Salaried contracts, luxury sponsorships, and billionaire-backed teams At the elite level, sailing is less about prize purses and more about patronage. Champions like Jimmy Spithill are backed by syndicates funded by billionaires and global brands. While SailGP sweetens the deal with actual prize money, the America's Cup remains a career-defining event, opening doors to long-term endorsements and prestige. 4. Professional bass fishing Above Bass fishing (Photo: cottonbro studio via Pexels) Biggest prize money: The Major League Fishing's Redcrest Championship offers US$300,000 for the winner Why it pays: Gear sponsorships, branded merchandise, personal licensing deals In the US, bass fishing is big business. Icons like Kevin VanDam earn more from sponsorships—boats, bait, branded gear—than tournament wins. Many launch their own product lines and outdoor TV shows, combining niche fame with national influence. Think Nascar, but on the water. 5. Show jumping Above Show jumping (Photo: Kelian Pfleger via Pexels) Biggest prize money: Grand Prix events award up to €300,000 (US$320,000) Why it pays: Horse ownership, sponsorships, and the elite equestrian circuit Show jumping rewards both athleticism and animal investment. Top riders like Scott Brash don't just win events—they breed and sell champion horses for millions. With brands like Rolex, Longines and Land Rover in the mix, the sport maintains its gilded image, blending business and equestrian elegance. 6. Snooker Above Snooker (Photo: Tomaz Barcellos via Pexels) Biggest prize money: World Snooker Championship: £500,000 (US $630,000) to the winner. Why it pays: Endorsements, exhibition matches, media appearances. Massive in the UK and China, snooker's top players—Ronnie O'Sullivan among them—enjoy strong fan bases and steady income beyond tournaments. High appearance fees and celebrity TV spots sustain their earning power, turning quiet concentration into commercial success. 7. Table tennis Above Table tennis (Photo: Jenny K via Pexels) Biggest prize money: ITTF World Cup: around US$150,000 for the winner. Why it pays: Corporate sponsorships, government rewards, luxury endorsements. In China, table tennis players are national celebrities. Stars like Ma Long attract state-backed bonuses, luxury endorsements and even lifetime pensions. While global prize pools are modest, they often pale in comparison to national hero treatment and long-term benefits. Also read: Roger Federer ranked by Forbes as World's Highest Paid Athlete of 2020 8. Surfing Above Surfing (Photo: Pixabay via Pexels) Biggest prize money: The World Surf League Championship Tour awards US$100,000 to US$150,000 per win Why it pays: Endorsements from global brands and personal surfwear lines Championships matter, but brand image is everything in surfing. Athletes like Gabriel Medina and Carissa Moore leverage their appeal for endorsement deals with brands like Rip Curl and Jeep. Their sun-soaked, aspirational lifestyles are bankable across both sport and social media. 9. MotoGP Above MotoGP (Photo: Pixabay via Pexels) Biggest prize money: Relatively small per race; top salaries reach US$14 million/year Why it pays: Salary contracts, endorsements, performance bonuses Unlike Formula 1, MotoGP riders earn most through their contracts. Marc Márquez, for example, has one of the highest-paying deals in motorsport. Add to that endorsements from energy drinks, apparel and tech brands and the financial speedometer keeps climbing.
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Scotsman
22-04-2025
- Business
- Scotsman
What are the costs when buying a house, including solicitors fees and removals
Watch more of our videos on and on Freeview 262 or Freely 565 Visit Shots! now This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. There are lots of costs to consider when moving home From gorgeous Georgian town houses to jaw-dropping penthouses, converted campervans to bargain boltholes. Take a peek at the finest homes across the UK. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... It's not just the cost of the house you're buying that you need to consider when moving home There are lots of other costs to factor in, from conveyancing fees to stamp duty We've done the maths to help you budget for the big move When you're buying a house, the first thing to do is calculate your budget so you know just how much you can afford. It's important to take into account not just how much you'll be paying for your new home, and how much you're getting for your existing one, if you're selling. There are numerous other costs to consider. Advertisement Hide Ad Advertisement Hide Ad We've broken down some of the biggest costs when moving house, from solicitors fees to the price of house removals, to help you work out your budget. There are lots of costs to consider when buying a house, including stamp duty and conveyancing fees | Photo by RDNE Stock project: Stamp duty This is the biggest cost when moving house for many people. First time buyers in England and Northern Ireland don't pay anything when buying a house for up to £300,000, but they pay five per cent stamp duty on anything above that. Existing homeowners pay nothing on the first £125,000, two per cent on the next £125,000, and five per cent on anything above £250,0000, meaning the stamp duty when buying a £300,000 house would be £5,000. If you already own a house which you are not selling, whether it's a second home or a buy to let property, you'll pay an extra five per cent on the full cost of the new property you're buying. That would take the stamp duty on a £300,000 house to £20,000. Advertisement Hide Ad Advertisement Hide Ad In Scotland, home buyers pay Land and Buildings Transaction Tax (LBTT) instead of stamp duty, with nothing to pay on properties up to £145,000, two percent between £145,001 and £250,000, five per cent between £250,001 and £325,000, 10 per cent between £325,001 and £750,000, and 12 per cent over £750,000. First-time buyers pay nothing on the first £175,000, and people with an additional property pay an extra eight per cent. Solictors fees/conveyancing Conveyancing, including solicitors fees, is one of the biggest expenses when moving house. According to the HomeOwners Alliance, the average conveyancing fees when buying a house range from around £400 to £1,500, plus disbursements, which can add up to £700 or even more. Average conveyancing fees when selling a house are around £610 to £950. Advertisement Hide Ad Advertisement Hide Ad Conveyancing fees for a leasehold property are usually £300 more. The average conveyancing fees when buying and selling a house in the UK total £2,380 including disbursements. Conveyancing fees are usually linked to the value of the property you're buying or selling, and they vary by region, from an average of £1,945 in Scotland to £3,130 in London, according to data from Reallymoving. House removals The average house removal cost is £1,300 for a one to two bedroom home and £1,700 for a three-bedroom property, according to Zoopla, though moving long distances will cost more. Advertisement Hide Ad Advertisement Hide Ad The cost also depends on whether you're doing the packing yourself, or paying for a packing service. Mortgage arrangement fees Many mortgages include an arrangement fee, which you pay the lender to set up the loan, though that's not always the case. Mortgage arrangement fees can be up to £2,000 or more and although you can usually add them to your mortgage, that will mean you're paying more interest and you'll have to pay it back eventually. You may also have to pay your mortgage provider's valuation fee, though some lenders carry this out for free. Advertisement Hide Ad Advertisement Hide Ad Some banks and building societies also charge a booking fee, which is typically between £100 and £200 and must be paid when you agree to take out the mortgage. It's non-refundable if the property purchase falls through. Home survey It's important to get a homebuyers survey carried out when you're purchasing a new home, to check you're getting what you paid for and there are no hidden faults. How much you pay depends on how thorough a survey you choose. A basic RICS Level 1 survey costs between £300 and £900, depending on the value and size of the property, according to MoneySuperMarket. Advertisement Hide Ad Advertisement Hide Ad A Level 2 survey provides a more detailed inspection, along with a valuation, and usually costs between £400 and £1,000. A Level 3 survey is the most comprehensive survey you can get and is especially recommended for anyone buying a larger or older house. It usually costs between £600 and £1,200. Estate agents fees This is something you'll only pay if you're selling a property, of course, but it's important to factor it in if so. The average estate agents fee in the UK is 1.42 per cent inluding VAT, according to the HomeOwners Alliance, meaning you would be paying £4,260 if you sell your house for £300,000. Advertisement Hide Ad Advertisement Hide Ad It's worth noting that you can often negotiate with estate agents to bring the rate down. Some estate agents, mostly online ones, offer a fixed fee which depends on the level of service, with Purplebricks, for example charging between £0 and £1,499, and Yopa charging between £999 and £1,999. The cost depends on which services you want, with hosted viewings, professional photos and premium listings often costing extra. Home insurance Although it's not a legal requirement, most mortgage lenders insist you have buildings insurance in place and it's a good idea to have it regardless. The average cost of home insurance in the UK is £274.17, according to though this depends on where you live, the size and value of your home, and how comprehensive the cover is that you're seeking. Advertisement Hide Ad Advertisement Hide Ad Other costs There are other costs to consider too, which can quickly add up. One is the fee for mail redirection, for which the Royal Mail charges from £41.50. It's not essential but can help ensure you don't miss any important documents. If you're buying your first home having lived in furnished accommodation, you'll also have to factor in the cost of buying furniture and home appliances like a fridge/freezer, washing machine and dishwasher. These appliances are included with some properties, or you can sometimes negotiate a fee with the seller if they are not taking them with them. If you've been renting, your council tax and services like energy and water may have been included so that will be another extra cost you could have to pay. Your energy bills could also increase significantly if you're moving to a larger property or one which is not as well insulated. Advertisement Hide Ad Advertisement Hide Ad Do you have a house hunting story or tips to share? You can now send your stories to us online via YourWorld at It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers.
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Scotsman
22-04-2025
- Business
- Scotsman
What are the costs when buying a house, including solicitors fees and removals
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. There are lots of costs to consider when moving home From gorgeous Georgian town houses to jaw-dropping penthouses, converted campervans to bargain boltholes. Take a peek at the finest homes across the UK. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... It's not just the cost of the house you're buying that you need to consider when moving home There are lots of other costs to factor in, from conveyancing fees to stamp duty We've done the maths to help you budget for the big move When you're buying a house, the first thing to do is calculate your budget so you know just how much you can afford. It's important to take into account not just how much you'll be paying for your new home, and how much you're getting for your existing one, if you're selling. There are numerous other costs to consider. Advertisement Hide Ad Advertisement Hide Ad We've broken down some of the biggest costs when moving house, from solicitors fees to the price of house removals, to help you work out your budget. There are lots of costs to consider when buying a house, including stamp duty and conveyancing fees | Photo by RDNE Stock project: Stamp duty This is the biggest cost when moving house for many people. First time buyers in England and Northern Ireland don't pay anything when buying a house for up to £300,000, but they pay five per cent stamp duty on anything above that. Existing homeowners pay nothing on the first £125,000, two per cent on the next £125,000, and five per cent on anything above £250,0000, meaning the stamp duty when buying a £300,000 house would be £5,000. If you already own a house which you are not selling, whether it's a second home or a buy to let property, you'll pay an extra five per cent on the full cost of the new property you're buying. That would take the stamp duty on a £300,000 house to £20,000. Advertisement Hide Ad Advertisement Hide Ad In Scotland, home buyers pay Land and Buildings Transaction Tax (LBTT) instead of stamp duty, with nothing to pay on properties up to £145,000, two percent between £145,001 and £250,000, five per cent between £250,001 and £325,000, 10 per cent between £325,001 and £750,000, and 12 per cent over £750,000. First-time buyers pay nothing on the first £175,000, and people with an additional property pay an extra eight per cent. Solictors fees/conveyancing Conveyancing, including solicitors fees, is one of the biggest expenses when moving house. According to the HomeOwners Alliance, the average conveyancing fees when buying a house range from around £400 to £1,500, plus disbursements, which can add up to £700 or even more. Average conveyancing fees when selling a house are around £610 to £950. Advertisement Hide Ad Advertisement Hide Ad Conveyancing fees for a leasehold property are usually £300 more. The average conveyancing fees when buying and selling a house in the UK total £2,380 including disbursements. Conveyancing fees are usually linked to the value of the property you're buying or selling, and they vary by region, from an average of £1,945 in Scotland to £3,130 in London, according to data from Reallymoving. House removals The average house removal cost is £1,300 for a one to two bedroom home and £1,700 for a three-bedroom property, according to Zoopla, though moving long distances will cost more. Advertisement Hide Ad Advertisement Hide Ad The cost also depends on whether you're doing the packing yourself, or paying for a packing service. Mortgage arrangement fees Many mortgages include an arrangement fee, which you pay the lender to set up the loan, though that's not always the case. Mortgage arrangement fees can be up to £2,000 or more and although you can usually add them to your mortgage, that will mean you're paying more interest and you'll have to pay it back eventually. You may also have to pay your mortgage provider's valuation fee, though some lenders carry this out for free. Advertisement Hide Ad Advertisement Hide Ad Some banks and building societies also charge a booking fee, which is typically between £100 and £200 and must be paid when you agree to take out the mortgage. It's non-refundable if the property purchase falls through. Home survey It's important to get a homebuyers survey carried out when you're purchasing a new home, to check you're getting what you paid for and there are no hidden faults. How much you pay depends on how thorough a survey you choose. A basic RICS Level 1 survey costs between £300 and £900, depending on the value and size of the property, according to MoneySuperMarket. Advertisement Hide Ad Advertisement Hide Ad A Level 2 survey provides a more detailed inspection, along with a valuation, and usually costs between £400 and £1,000. A Level 3 survey is the most comprehensive survey you can get and is especially recommended for anyone buying a larger or older house. It usually costs between £600 and £1,200. Estate agents fees This is something you'll only pay if you're selling a property, of course, but it's important to factor it in if so. The average estate agents fee in the UK is 1.42 per cent inluding VAT, according to the HomeOwners Alliance, meaning you would be paying £4,260 if you sell your house for £300,000. Advertisement Hide Ad Advertisement Hide Ad It's worth noting that you can often negotiate with estate agents to bring the rate down. Some estate agents, mostly online ones, offer a fixed fee which depends on the level of service, with Purplebricks, for example charging between £0 and £1,499, and Yopa charging between £999 and £1,999. The cost depends on which services you want, with hosted viewings, professional photos and premium listings often costing extra. Home insurance Although it's not a legal requirement, most mortgage lenders insist you have buildings insurance in place and it's a good idea to have it regardless. The average cost of home insurance in the UK is £274.17, according to though this depends on where you live, the size and value of your home, and how comprehensive the cover is that you're seeking. Advertisement Hide Ad Advertisement Hide Ad Other costs There are other costs to consider too, which can quickly add up. One is the fee for mail redirection, for which the Royal Mail charges from £41.50. It's not essential but can help ensure you don't miss any important documents. If you're buying your first home having lived in furnished accommodation, you'll also have to factor in the cost of buying furniture and home appliances like a fridge/freezer, washing machine and dishwasher. These appliances are included with some properties, or you can sometimes negotiate a fee with the seller if they are not taking them with them. If you've been renting, your council tax and services like energy and water may have been included so that will be another extra cost you could have to pay. Your energy bills could also increase significantly if you're moving to a larger property or one which is not as well insulated. Advertisement Hide Ad Advertisement Hide Ad
