Inheritance Tax is the most hated of all taxes – should it be overhauled?
This is Money Podcast
This is Money
4.4 • 734 Ratings
🗓️ 12 July 2019
⏱️ 40 minutes
🧾️ Download transcript
Summary
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Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Producer: Georgie Frost
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Transcript
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| 0:00.0 | Welcome to This Is Money. I'm Georgie Frost and joining editor Simon Lambert night today is Assistant Editor Lee Boyce. |
| 0:08.0 | And coming up, poorly understood, counterintuitive, simply unclear. |
| 0:12.9 | What should we do about inheritance tax? |
| 0:15.7 | The body tasks with shaking up our most hated tax has come up with a few ideas. |
| 0:20.7 | Do they go far enough, though? |
| 0:22.5 | And what about if Labour come into power? |
| 0:25.4 | Also today, Deutsche sends shockwaves through the city. |
| 0:28.7 | Eon goes green, whether you like it or not, and Minnie goes electric. |
| 0:33.3 | But does Simon like it or not? |
| 0:35.6 | Don't forget, you step to date. |
| 0:36.6 | With all the latest breaking money news, just go to this ismoney.co.uk or download the app. Now, it takes some doing to |
| 0:44.1 | be considered the most hated of all taxes, especially when so few people actually pay it. |
| 0:50.4 | But there you go, inheritance tax, the most hated, it's official. According to the Office of Tax |
| 0:55.7 | Simplification, it's been working out at the request of the Chancellor. What on earth can be done about it? |
| 1:02.4 | Now, we told you all about this back in November. Well, we now have an update with the OTS giving some of |
| 1:09.0 | their suggestions. Will the Chancellor take heed? And what about the |
| 1:12.2 | small issue of a Labour government, perhaps waiting in the wings with some of their own plans |
| 1:17.0 | for the tax? But first, a very warm welcome, Simon, very briefly recap of what the Chancellor |
| 1:22.5 | has asked the Office of Tax Simplification to look at specifically. Now, it was pretty damning in their initial report. |
| 1:30.2 | Also worth noting, not in its remit to affect policy, |
| 1:34.4 | so it can't actually get rid of inheritance tax. |
| 1:37.4 | No, but these are the government's tax gurus. |
... |
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