Latest news with #gift
Washington Post
a day ago
- Entertainment
- Washington Post
Dodgers manager Dave Roberts gifts pink toy luxury car to Shohei Ohtani's baby daughter
LOS ANGELES — Los Angeles Dodgers manager Dave Roberts and his wife have gifted Shohei Ohtani's baby daughter with a pink toy Porsche. Ohtani posted a video of him, Roberts and the toy car on his Instagram account. 'We had a little running practical-joke situation going on,' Roberts said Wednesday, 'but this was a gift for the baby.'
The Sun
3 days ago
- Business
- The Sun
Get a box of eight beers for Father's Day FREE with Beer52
WE KNOW, we know: beer for Father's Day? Groundbreaking. But there's no denying that Dads are one of the hardest family members to buy for, and if he likes beer, then why mess with a winning formula? That's especially true when you can get a full box of eight beers — plus a magazine and snacks — for nothing but a £5.95 postage fee. That's exactly what is being offered by Beer52, the country's most popular beer subscription. We think this is the perfect Father's Day gift, especially if you're shopping on a budget. And if you have a bit of change left over, you could buy him an extra gift or a card (or spend it on a pint for yourself). If you want a Beer52 box it'll usually cost you £27, meaning this deal represents a huge saving. At £5.95 (the cost of delivery), the box of eight beers — plus extras — is cheaper than a single pint in a central London pub. Each can has been hand-picked by Beer52's team of experts, who are sent around the globe to find the best international small-batch breweries. Every month has a theme; sometimes, like this month, it's a wide-ranging "Beers of the World" selection, meaning your dad will receive beers from across at least four continents. Other months, though, you might be treated to a deep dive into the regional beers of Scandinavia or the South-West of England. If you want to splash the cash, you can add two more beers for just £6. The selection is wide-ranging, including lagers, IPAs, porters and stouts, as well as some unexpected choices he might not have tried before. We also love that, if your dad isn't a huge fan of stouts or porters, you can choose to receive a selection exclusively made up of light beers. Get eight beers, two snacks and a magazine worth £27 for just £5.95 at Beer52 BUY HERE Each octet of beers comes accompanied by a pair of fancy snacks, which make a nice change from the usual crisps or nuts. His box will also contain a copy of Ferment, the UK's premier craft beer magazine, which contains features and interviews about the beer your Dad will be drinking. It's a great way of making the gift feel extra-special. After the delivery of your first box, you'll be automatically enrolled on a monthly subscription, so if you don't want to continue receiving beers, make sure to cancel. If you're looking to give a beer-loving dad something he'll enjoy this Father's Day — without breaking the bank — this Beer52 deal is a no-brainer.
Daily Mail
5 days ago
- Business
- Daily Mail
Can I gift my £330,000 second home to my adult kids without paying tax?
I live in Australia (and am a tax resident here) and I own a leasehold flat in Suffolk that I use when visiting the UK. I no longer wish to own the property due to the doubling of the council tax on unoccupied properties. Also, the water is muddied with regard to possible liability for UK inheritance tax. There is no inheritance tax here in Australia. I would like to gift it to my two adult children since I don't need the funds here and they will eventually inherit the property anyway. If I transfer title to them, do they have to pay stamp duty, and if so, at what rate? It is on sale at present for £330,000 Due to the government's war on landlords and buy to let (neither of which applies to me since it is not let out), it will probably not sell at that price. If stamp duty is levied on the gift, would it be possible to agree a notional sale price of £250,000 in order to fall into the lowest tax bracket, or can it even be exempt from stamp duty since there will be no money changing hands? They will then become second home owners, so does the transaction incur additional stamp duty? P.A, via email SCROLL DOWN TO ASK YOUR FINANCIAL PLANNING QUESTION Harvey Dorset, of This is Money, replies: For many Britons living abroad, its nice to continue to have a base to come back to when you visit. This would be especially the case for you, as your trips from Australia are likely to be for longer periods given the distance between the two countries. Unfortunately, you tax changes that came into effect last month in Suffolk mean that you are now required to pay twice the standard council tax rate on your property, as it is only 'occupied periodically.' East Suffolk Council states: 'At a Full Council meeting held in February 2024 it was approved that from 1 April 2025 a 100 per cent Second Home Premium charge will be applied to properties that are furnished and do not have anyone living in them as their main home. This means that 200 per cent Council Tax is payable.' Understandably, you have decided it is not worth you keeping the property under the current ownership circumstances. Instead, you want to give the flat to your children, which would pass on some wealth and help with potential inheritance tax liabilities. As you say, there is no inheritance tax in Australia but there is in the UK, meaning your situation is harder to work out. Meanwhile, as discussed below, there are other taxes that you may need to watch out for. This is Money spoke to two financial advisers to find out what you need to do in order to pass your flat to your children while keeping tax to a minimum. David Denton, head of technical at Quilter Cheviot, replies: First, from an inheritance tax point of view, your instincts are right to consider future exposure. While Australia abolished inheritance tax in the late 1970s, UK IHT still applies to most UK-based assets – including property – regardless of the tax residency or domicile of the owner. So, although you're an Australian tax resident, your UK flat remains within the scope of UK IHT. That said, with the nil-rate band currently set at £325,000 and your flat valued at around £330,000, the potential liability could be relatively minor, although the nil rate band is frozen until at least 5 April 2030. Now to the more immediate question of gifting the property to your children. Provided there is no outstanding mortgage on the flat, a transfer of ownership as a genuine gift would not trigger Stamp Duty Land Tax (SDLT) on the part of your children. SDLT is only payable if there is 'consideration' – for example, if the recipient assumes liability for a mortgage, or pays for the property. However, even if the transfer is exempt from SDLT because there is no consideration, your children may still face the 3 per cent additional homes surcharge in the future. This wouldn't apply at the point of receiving the gifted flat, but if they later went on to buy another UK property without selling the Suffolk flat, the new home would count as an 'additional property' and attract the higher SDLT rate. Lastly, you also need to consider capital gains tax (CGT). As a non-resident, you remain liable for UK CGT on the disposal of UK property, even when gifting it. The gain would be calculated as the difference between the property's market value at the point of transfer and its value when you acquired it. Certain costs associated with the transaction may be deducted, and it's likely that the annual exempt amount of £3,000 would be available, whilst depending on the level of gain, the tax rate could be up to 24 per cent. Where people often come unstuck is trying to manipulate the value of the property for tax purposes. HMRC normally expects that any transfer – whether by sale or gift – is assessed based on open market value. That means a professional valuation may be required. Artificially lowering the price could lead to tax complications and potentially penalties. In short, your children won't pay SDLT upon receiving a gift without a mortgage, but there are still IHT and CGT considerations. It's worth seeking tailored advice and a professional valuation to ensure all angles are covered properly. Check your inheritance tax position carefully Oliver Loughead, wealth manager at RBC Brewin Dolphin, replies: Transferring ownership of UK property to children is a significant decision that carries various legal, financial, and tax implications, particularly for individuals who are not resident in the United Kingdom. Regarding inheritance tax (IHT) treatment of the property, for a non-UK resident, IHT will normally be due on UK assets only (subject to new long-term UK residency rules) that exceed the available nil rate band (NRB), which is currently £325,000 per person. If you have a spouse or civil partner, it might be possible to make use of both of your available NRBs, so £650,000. Under UK law, a gift of property is typically treated as a potentially exempt transfer (PET). This means that if the donor survives for seven years following the date of the gift, the value of the gift may fall outside the scope of IHT. However, if the donor dies within that period, the value of the gift may still be brought into account for IHT purposes. In such cases, taper relief may apply, potentially reducing the amount of tax due depending on the time elapsed between the gift and the donor's death. If you have previously lived in the UK, you should check if you qualify as a long-term UK resident, as your worldwide assets may fall into scope for UK IHT. You are deemed a long-term UK tax resident if you have been resident for either the previous 10 consecutive years or a total of 10 years or more within the previous 20 years. Help with financial advice and planning Financial planning can help you grow your wealth, sort your pension, or make sure your finances are as tax efficient as possible. A key driver for many people is investing for or in retirement and inheritance tax planning. If you are looking for help sorting your finances and want to work out whether you need advice, planning, or coaching, the following links can help you understand more: >Do you need financial planning or financial advice - and is it worth it? > Financial advice: What to ask and how much it might cost > Are you retirement ready? Take our quiz and get financial planning help > Inheritance tax planning - what you need to know to protect your wealth Regarding concerns around stamp duty land tax, SDLT generally does not apply to gifts of property unless the recipient assumes a mortgage on the property. In cases where the transfer involves taking over an existing mortgage, SDLT may be charged based on the value of the outstanding loan. Therefore, the structure of the gift - especially whether the property is encumbered - must be carefully evaluated. Capital gains tax (CGT) should also be considered. Since April 2015, non-residents have been liable for CGT on disposals of UK residential property. A gift of property is treated as if the donor has disposed of it at market value, even if no money changes hands. This means that any increase in the property's value from its acquisition (or from April 2015 if it was owned before that date) to the date of the gift may be subject to CGT. Non-resident individuals must report and pay any CGT due within 60 days of completing the gift. The legal process for transferring UK property to children is complex. A UK-based solicitor should be instructed to handle the conveyancing and ensure all necessary documentation is completed, including a deed of gift or transfer deed. An often-overlooked aspect of gifting property is the potential loss of control. Once the property is legally transferred, the donor no longer holds rights over it unless specific conditions are attached, such as transferring it through a trust. Establishing a trust can be a useful mechanism to maintain some level of influence over the property while still achieving estate planning objectives. However, trusts introduce their own tax implications and legal complexity, so professional advice is essential before proceeding. In conclusion, while gifting UK property to children can be a valuable tool for estate planning and wealth distribution, non-UK residents must carefully assess the legal and tax consequences. Thorough planning, supported by expert advice from UK solicitors and cross-border tax professionals, is essential to ensure that such a transfer achieves the desired outcome without triggering unintended liabilities.
Bloomberg
6 days ago
- Business
- Bloomberg
Musk on Departing DOGE: 'This Is Not the End'
"This is not the end of DOGE but really the beginning," Elon Musk says while accepting a gift for his tenure from President Donald Trump in the Oval Office. (Source: Bloomberg)
Yahoo
7 days ago
- Business
- Yahoo
Moonkie Unveils Hug & Go Toddler Backpack Just in Time for Eid al-Adha Gifting
CHINO HILLS, Calif., May 30, 2025--(BUSINESS WIRE)--As families prepare to celebrate Eid al-Adha, Moonkie introduces the perfect gift for growing toddlers: the Hug & Go Toddler Backpack. Designed for modern parents who value both functionality and emotional development, this thoughtfully crafted backpack pairs everyday practicality with a cozy companion—making it an ideal present for the festive season. More Than Just a Backpack - A Developmental Essential The Moonkie Hug & Go™ addresses two key needs of early childhood: Practical Independence: Sized perfectly for little shoulders with adjustable padded straps and a top handle for parent assistance Emotional Security: Features a removable plush companion (choose from Rosie Hop the Bunny, Babu the Elephant, or Mossy the Reindeer) that offers cozy comfort during new experiences Why This Makes the Perfect Eid Gift Grows With Your Child: Transitions seamlessly from first daycare days to family adventures Montessori-Inspired: Encourages self-reliance through child-friendly design Parent-Approved Practicality: Wipe-clean fabrics and secure, detachable-free construction Festival-Ready: Thoughtfully priced at $32.99 / SR 124.00 for gift-giving Celebrating Childhood's Big Little Moments Eid's joyful celebrations often bring new experiences for little ones. The Hug & Go offers cozy reassurance for toddlers and practical help for parents, with soft textures that comfort and smart features that empower small shoulders to carry their own special things. Availability The Moonkie Hug & Go™ Toddler Backpack is now available exclusively at Each set includes: One perfectly sized toddler backpack Your choice of a huggable plush companion Ready-to-gift packaging for Eid celebrations For more information, visit Moonkie's official site or follow on Instagram, TikTok, Facebook, and YouTube. View source version on Contacts Lesley Li, lesley.l@ Sign in to access your portfolio
