The 37 taxes you pay and why it now takes £3.1m to feel 'wealthy'
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 1 August 2025
⏱️ 58 minutes
🧾️ Download transcript
Summary
We all pay a multitude of other taxes, from air passenger duty to environmental levies on our energy bills.
Lee Boyce, Simon Lambert and Georgie Frost discuss what the total sum is - and that our tax rate is more like 57 per cent.
And tax rises don't always bring in more cash for the Treasury coffers.
As the Government weighs up introducing yet another tax - this time a wealth tax - we explore why despite the allowance being slashed the capital gains tax take is down and what it means for the Chancellor's plans.
How much you need to feel wealthy in different areas of Britain? Does £1million still cut it?
The six burning questions everyone is asking financial advisers right now… and their expert answers
And we answer a reader query: Could I give £250 gifts to 400 people who then pay them to my daughters to beat inheritance tax on £100,000?
Transcript
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| 0:00.0 | Welcome to This Is Money podcast sponsored by Charles Stanley Direct. I'm Georgie Frost and joining me and |
| 0:07.6 | Simon Lamber today is Lee Boyce. And coming up, when tax rises don't always bring in more cash for the |
| 0:14.5 | treasury coffers. As the government weighs up introducing yet another tax, this time a wealth tax, |
| 0:19.8 | we explore why despite the allowance being slashed, this time a wealth tax. We explore why, despite the allowance |
| 0:22.1 | being slashed, the capital gains tax take is down, and what does that mean for the Chancellor's |
| 0:27.8 | plans? Also, stay, who wants to be a millionaire? We offer expert tips on how to build more |
| 0:33.6 | wealth wherever you live in the UK. What would you ask a financial advisor right now? |
| 0:39.2 | We explore the six burning questions that people are wanting to know and we get the expert |
| 0:43.5 | answers. Plus, we look at a creative way to get around inheritance tax. But would it work? Don't forget, |
| 0:51.3 | you can stay up to date with all the latest breaking money news. Just go to this ismoney.com.uk or download the app. |
| 0:57.0 | Take control of your finances with Charles Stanley Direct. Invest, save, coach or plan. |
| 1:05.0 | Using technology where it's helpful and people where it matters. Our website and app make trading cost effective and flexible, |
| 1:13.1 | but we're more than just an online investment service. We're here for you, regardless of your |
| 1:18.0 | financial needs, or if your life takes an unexpected term. Your finances, your way. Take control |
| 1:25.4 | today with Charles Stanley Direct. Sign up now. Investment involves risk. |
| 1:30.7 | But first, the UK tax burden is at the highest it's been since the Second World War. We know this. |
| 1:37.4 | And yet, the government seems determined to find ways to take even more of our hard-earned cash. |
| 1:43.0 | The idea, being widely mooted at the moment, is a wealth tax. |
| 1:47.3 | Now, we already pay 37 levies, yes, 37, which amounts to an average of 57% for the average |
| 1:55.9 | household's income. Don't believe us, this is money, have listed them all on their website. But will more |
| 2:02.1 | taxes bring in more cash for the government? The latest capital gains tax receipts suggest that |
| 2:06.3 | might not always be the case. But before we get to that, Lee, Simon, welcome Lee, 37 taxes. |
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