#Do i have to pay taxes on a cash gift plus#
#Do i have to pay taxes on a cash gift series#

Which? found six in 10 in the group had increased their debt in the past six months. In addition, they may have 'borrowed money to maintain basic living standards' rather than cutting back on essentials like food and energy. 'They tend to be from larger households with children at home and are struggling financially but have just about managed to keep afloat by using credit,' Which? said. One of those groups, called Anxious and At Risk, comprises 7.9 million adults or 15% of the UK population. Which? has identified six groups of consumers based on 'how they are coping financially, physically and mentally'.

#Do i have to pay taxes on a cash gift series#

Given these figures relate to the financial year ending in 2022, they don't reflect the exact situation in the housing market as it is today.īut they certainly show how much more expensive houses have become in relation to earnings over time - and many first-time-buyers who have managed to save enough for a deposit are now facing the added pain of eyewatering mortgage rates in response to a series of increases in the Bank of England base rate.Īlmost eight million people have been 'overlooked' during the cost of living crisis and are 'now on the brink of serious hardship', the consumer group Which? has said.Īfter surveying 4,000 people across the UK, it said about 15% of the population is at risk of 'falling off a financial cliff edge'. Regionally in England, ratios vary quite widely - with London unsurprisingly soaring ahead.Ī median-price home in the North East costs the equivalent of 5.3 years' worth of typical income last year - compared to 13.9 in the capital. This chart shows how affordability has changed in all four corners of the UK within the last three decades:

In Wales, the average house price-to-income ratio was 6.4, in Scotland it was 5.3 and in Northern Ireland it was 5.1. The average house price in England in the financial year ending in 2022 equated to 8.4 years of the typical income, it said. Its analysis shows only the top 10% of households in England could typically afford a home with fewer than five years' worth of average household income last year. The impact of the cost of living crisis - rising mortgage rates and a squeeze on our disposable income - has pushed homeownership further out of reach for many.Īnd new figures from the Office for National Statistics (ONS) shine a light on just how difficult it is for first-time buyers across the UK to get on the property ladder. It has been reported that thousands of young European waiters, baristas and au pairs could be allowed to come to the UK for two years under plans to plug gaps. 'However, the House's staffing situation has improved in recent months, helped in part by an ongoing recruitment campaign and the effective redistribution of resources where required.' 'We're short of chefs, for example, because there's a very tight market for chefs in London, and we're short of chefs by about 38, I think, at the last count, so there's less we can do.'Ī Commons spokesman said: 'Some of our catering venues have temporarily operated with reduced hours or services due to staff shortages, an issue that is seen frequently across the wider hospitality and catering sector. “There are issues about staff recruitment in the catering department,' Sir Charles told Times Radio. Many left during COVID, while Brexit made it harder for them to return. Hospitality businesses have been short of staff since the pandemic.

#Do i have to pay taxes on a cash gift plus#

In addition, they can be accessed by 14,500 other pass-holders, plus non-pass holding visitors, amounting to about 1.5m guests a year. Venues include the Members' Dining Room, The Adjournment and Bellamy's and can be used by the 650 MPs. Restaurants in the Houses of Parliament are being forced to reduce their hours because of a shortage of catering staff.Ĭonservative MP Sir Charles Walker, who chairs the administration committee overseeing the running of the parliamentary estate, said they were short of 38 chefs.