Trump’s taxes tell all

The 1-minute read to get the money news you need with expert adviser commentary.

Trump’s a loser

Donald Trump’s tax returns are out in the open at long last - and they’re not pretty. The businessman and property mogul paid just $750 in income tax in 2016, the year he was elected president. The New York Times investigation also shows he paid no income tax at all in 10 out of the 15 preceding years. Why? Because he reported that his businesses made billions of dollars in losses.

First-time buyers squeezed

Home movers are likely to overtake first-time buyers in 2020 and 2021 as the biggest group of property buyers, according to Zoopla. First-time buyers are becoming less likely to buy a home as mortgage options dwindle. At the same time, more homeowners are seeking to upsize to get more space to work from home.

Al fresco autumn

Londoners can wrap up warm and keep dining outside until the end of October, thanks to an extension of a scheme to support al fresco hospitality. Outdoor eating and drinking have been important to help businesses to stay afloat while social distancing.

£10,000 fines begin

From today it’s now illegal to break quarantine, and there are hefty fines to enforce it. The law applies to people who test positive for coronavirus, or who have been told by NHS Test and Trace to self-isolate. Fines start from £1,000, and rise to £10,000 for repeat offenders or serious breaches.