The great tax meltdown – This is Money Show

This is Money Podcast

This is Money

Business, Investing, Business News, News

4.4 • 735 Ratings

🗓️ 6 November 2015

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Everyone has a duty to pay tax – it’s the investment that allows democracy and civilised society to function.

But have you tried to contact the tax office lately?

In good times, it’s tough enough trying to get a tax refund from HMRC but now people are telling us it’s becoming impossible to even pay their bills. A near-hour wait to get through on the phone is the norm.

Also on the agenda:

The interest rates rise soap opera continues with the latest will-they won’t-they relationship looking like it’s off until further notice.

The UK economy is looking healthy but what do investors looking at fragile emerging markets need to know?

Parking your car looks likely to get a whole lot more expensive - £85 more to be precise.

Did you know you can now chuck all your spare foreign coins into a machine that instantly converts them into British pounds?

And finally…

Do you really need to pay extra car insurance and fees to amend your policy if you get promoted?

Probably not. But it’s fun to hear why with This is Money’s Simon Lambert and Laura Whitcombe, Share Radio’s Georgie Frost and another fascinating hour of money chat.

Email us hello@dmgmedia.co.uk

Text us 020 7938 6000.

Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0	A very warm welcome to This Is Money and Share Radio podcast. I'm Georgie Frost here with you every weekday from 9 until 1 sharing ideas about money.
0:15.2	Today I'm joined in the studio by editor Simon Lambert and knowledge and product editor Laura Wickham from the award-winning
0:21.1	This is Money to talk through some of the stories on their website that they've been
0:24.5	investigating on our behalf over the last seven days. And on the agenda today, how super was
0:30.4	super Thursday? Are we only closer to knowing when there'll be a rate rise? When bank rate rises
0:35.9	occur, they can be expected to be limited and gradual.
0:40.3	Yeah, so perhaps not then. Domestically, the economy is looking pretty good, says the Bank of England,
0:45.3	but globally, particularly emerging markets, well, not so good. So investors, are you tempted to
0:50.4	dip your toe into these emerging markets? Simon's been tinkering away on his minor
0:55.1	investor blog to give his assessment. Also coming up, abysmal, woefully inadequate, a genuine
1:01.3	threat to tax collection. Some of the accusations leveled at HMRC. It's not good enough for people
1:07.5	who are trying to understand, often new complicated rules about tax, to spend
1:11.6	half an hour hanging on the phone. So we're saying, really, to pull their socks up.
1:15.6	What is up with the tax man? We reflect on a fresh blow for motorists as the Supreme Court
1:20.8	says an £85 parking charge is fair. Has the emissions scandal put you off buying a new car? Also, have you got a new job? A promotion, perhaps? Well, congratulations if you have. But after calling your family and your friends to celebrate, you need to make one more phone call to your insurance provider.
1:39.8	Insurance premiums are based on not only the car that you drive, but also on your personal
1:44.7	details, your age, where you live and also your occupation.
1:48.5	And we take a look at a nifty new invention that can turn all those foreign coins
1:54.4	in your drawers down the back of your sofa into pounds.
1:57.5	It's thought 2.3 billion pounds worth of leftover holiday coinage is languishing in our homes,
2:03.2	which got me thinking. Having recently cashed in on all the change in my flat, in piggy banks
2:09.4	and just around about the place as well, it was £40. So I want to know how much change
	...

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