What is the problem with inheritance tax?

This is Money Podcast

This is Money

News, Business News, Investing, Business

4.4 • 735 Ratings

🗓️ 15 April 2016

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

…everything to do with finance is beset with problems.

From insurance companies that spew policy small print at terminally patients to avoid paying out, through mobile phone companies with the customer services skills of a three-minute-old turtle scuttling away from the first sign of a phone call, to the tax that few understand, even fewer pay but everyone seems to hate - inheritance tax.

This week we’re looking at the problem of inheritance tax.

We’re looking at some others as well but because of Prime Minister David Cameron’s relationship with his generous parents – IHT is in the news.

His dad ran an offshore fund. His mum gave him a couple of hundred grand towards a new suit. He may not pay tax on this gift.

Is that a problem? Is inheritance tax a problem?

Simon Lambert, Lee Boyce and Georgie Frost investigate.

It’s a proper fascinating slippers on, kettle on, headphones on episode that’s worth an hour of anyone’s time.

Also on the show – other problems include:

Bank fraud – as the crooks get better at it, the banks care even less

Brexit could be an almighty problem. It could destroy the world economy – but then plenty of other things could do that too

House prices are even more ridiculous than they were last week – causing a wave of migrating out of London and beyond

Are degrees all they’re cracked up to be?

And finally…

The range of free goodies it’s worth getting old for.

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 NS&I, giving you 100% security for your savings.
0:16.9	A very warm welcome to This Is Money and Share Radio podcast in partnership with NS&I.
0:22.1	I'm Georgie Frost here with you on DAB across the country online and through the Share
0:26.3	Radio mobile app every weekday from 9 until midday sharing ideas about money.
0:31.3	I'm joined in the studio today by editor Simon Lambert and Consumer Affairs editor Lee Boyce
0:35.9	to talk through some of the stories on their
0:37.9	website they've been investigating over the last seven days and on the agenda today.
0:43.1	Today we have a stark warning from the IMO.
0:45.5	Still a difficult market and we need to invest.
0:47.7	I don't see why there should be disruption to drag.
0:51.0	Believe it or not, the firing guns only just gone off to mark the start of official campaigning ahead of June's EU referendum amid dire warnings from the IMF, the World Bank and the Bank of England about the impact of Brexit on our economy.
1:04.5	Throw in inflation figures, interest rates, house price stats that we got this week.
1:08.8	And just how are we shaping up?
1:10.5	Well, the picture's not looking too rosy if you're wanting to get on the housing ladder in the next few years.
1:15.9	The only way I foresee it being possible to own my own property is if I move well away from London and Essex.
1:22.3	Better news, though, for our over 65 listeners, the team have been looking at the 10 pots of cash and freebies that you could be
1:29.0	entitled to and importantly, how to claim them. Now, Simon has been tackling the conundrum.
1:34.9	Just how do you solve a problem like inheritance tax? David Cameron, are you listening?
1:39.9	It does seem extremely unfair. Against that, you would have people arguing that you could have
1:43.8	people who just consistently passed down through the family, and therefore that person who's
1:47.9	now leaving it didn't actually earn it at all. Also today, mind your bank balance, as bank account
1:52.9	fraud reaches epic proportions we're hearing, if you're a victim, well, it looks like you're on
	...

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