Can you please explain the difference between Yours Faithfully and Your Sincerely? They seem to be old fashioned and very British terms as we didn't use them in Canada.
Would it be necessary to use the in email if I am sending a very formal email?
The expressions, 'Yours Faithfully' and 'Yours Sincerely', are indeed old-fashioned. Nowadays, we use simply, 'Best regards' or 'Regards'. Don't worry about the difference between these old-fashioned terms.
On this subject, some people sign off their emails with abbreviated or over-casual expressions like, 'Rgds' or 'Best' or 'Cheers'. Avoid these. Why not use the safe and stadard expressions 'Best regards' or 'Regards'?