The most fun tax & pensions special ever - This is Money Show

This is Money Podcast

This is Money

Business, Investing, Business News, News

4.4 • 735 Ratings

🗓️ 29 January 2016

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

After a seven-year investigation into Google’s UK tax affairs, the company agreed to pay £130m to us.

Chancellor George Osborne hailed it a huge success.

No one else agreed.

Especially not the Shadow Chancellor, anyone with a calculator, or even the French, who a few days later announced they were negotiating a much bigger windfall on a far smaller business than Google UK.

It amounted to a tax rate of about 3% on its multi-billion-pound earnings in this country.

And all this at the time average Jo and Joe Bloggs are filing their tax returns before the end of January deadline.

People pay tax at 30% to 40 to nearly 50% on earnings of a few tens of thousands of pounds. You can see why these people are angry.

Luckily, there’s no anger in the Share Radio studio as presenter Georgie Frost, This is Money Editor Simon Lambert and Consumer Affairs Editor tackle the big tax and pensions scandals of the week with a sharp insight and warm wit.

It’s been a bad week for Osborne. Having announced a ban on raising taxes, the smart money’s on him stealing it from our pensions.

Also on the agenda,

Have you any idea how much VAT rich people pay when they buy a Rolls Royce car that costs more than a house?

And what’s it’s like to drive and park one?

Can it really be as tatty as it sounds or is it a must-have motor for the discerning Google executive?

Buy-to-let is back in the news, so is gold, which provides another excuse to play Spandau Ballet songs, and finally it’s been a bumper year for British cinema.

What’s your favourite film?

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	This is Money, brought to you in partnership with MS and I, giving you 100% security for your savings.
0:17.6	Welcome to This Is Money and Share Radio podcast. I'm Georgie Frost here with you on DAB online and through the Share Radio mobile app.
0:25.0	Every weekday from 9 until midday sharing ideas about money.
0:29.1	I'm joined today in the studio by editor Simon Lambert and Consumer Affairs editor Lee Boyce from the award-winning This Is Money
0:35.5	to talk through some of the stories on their website that they've been investigating over the last seven days.
0:41.1	And where else to start?
0:43.0	But tax doesn't have to be taxing.
0:45.1	That's what the government kindly assures us.
0:47.9	But while you may be tearing your hair out trying to get your self-assessment tax return in on time for one big multinational.
0:55.0	Or tax doesn't seem to be very taxing at all. I'm talking about Google and their sweetheart deal.
1:00.0	As the pressure has been mounting on the government this week,
1:03.0	why are big businesses getting away with paying so little?
1:06.0	Make sure that the public aren't shortchanged.
1:09.0	They've got confidence, multinational businesses,
1:11.6	pay their tax where it's due in exactly the same way you or I would do.
1:15.6	Also coming up, Simon gets hot under the collar about pensions. Is the tax-free saving a
1:20.6	principle to defend or a perk to hack in too? With fears the government are planning to cut tax
1:26.6	relief to the bone, we're now
1:28.3	being told how loyal customers are being betrayed by those very same big companies responsible
1:34.0	for looking after our retirement savings. Is anyone going to help us? Sticking with that theme,
1:39.7	as the stock markets continue to wobble, we take a look at the impact it has on our pensions,
1:44.9	what protection is there, but also ask if it might be time to buy back into gold.
	...

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