STRAIGHT TO THE POINT

IN 2003, my wife and I took out a lifetime mortgage with Norwich Union to borrow £32,000 on equity release. I asked if I could have more cash, but was refused. Could you offer me some advice?

B. P., Norfolk. equity release can be complicated and your best bet is to speak to an expert financial adviser.

Try Key retirement on 0808 252 9170 (the number is free), visit equityreleasecouncil.com/member-directory or call 0844 669 7085 for a list of other advisers. OUR British Airways flight was cancelled because of strikes. BA has offered compensation in air miles or credit for future flights. Is it not obliged to pay us cash? D. C., Sussex. NOT if the reason for cancellation is classed as ‘an exceptional circumstance’. Ba insists that industrial action falls under this category and it says vouchers are all that it will offer. MY MOTHER gifted her home to me some years ago, but continued to live in it rentfree. I understand that for inheritance tax purposes the property will still be seen as part of her estate. At what point will I be subject to capital gains tax? S. B., via email. There is normally no inheritance tax to pay if a person gives away a property and lives for another seven years. But because your mother continues to live there and doesn’t pay the going rent, you are right the house will be treated as part of her estate for inheritance tax purposes.

you will not have to pay capital gains tax until you sell the property or give it away to someone else. you will then have to pay CGT on any increase in value since the date it was transferred into your name. I HAVE shares in Commonwealth Bank of Australia, but I don’t know how to sell them. It’s difficult to find a broker who will deal in overseas shares. R. R., via email. look on your share certificate for the company registrar’s details. They may be able to help you sell the shares or find you a broker. stockbroker Charles stanley says it will be able to help you. Call 020 7739 8200.