Original Broadcast: This is Money
There were a number of ways Kemi Badenoch could have tackled the much-hated issue of inheritance tax. The Tory leader could have promised to cut the rate, remove gifting allowances from the deep freeze, raise thresholds, or stop pensions being pulled into the net. Instead, she decide to announce family homes would be completely exempt under a Conservative government — and couples would still get to give away £1 million tax-free on top of that. Was that a good idea, or has Kemi just promised to make a bad tax even more complicated? Georgie Frost and Simon Lambert talk inheritance tax and, as well as looking at Kemi's plan, they discuss what you need to do to beat IHT now. Plus, the Lifetime ISA is on the way out but savers are still being stung with penalties. Will the new first-time buyer ISA be an improvement? In the stock market story of the week, Simon reveals why Tesco says it will be a less boozy Christmas. We explain how to get a free will and what you should consider putting in it. And finally, the new electric Jaguar has finally been revealed. It's very big, very fast and £120,000 — would you want one? Time stages: 01:07 – Kemi Badenoch’s inheritance tax plans; 08:25 – What can you do now to reduce an inheritance tax bill? 12:13 – The £3,000 gifting allowance and other gift exemptions; 17:06 – Gifting out of surplus income; 21:53 – Lifetime ISA penalties and the new First Time Buyer ISA; 29:41 – Stock Market Story of the Week: Tesco, GLP-1s and alcohol; 32:30 – Free Wills Month: why you need a will and how to get one free; 38:39 – Jaguar’s £120,000 electric gamble; 46:00 – Stat of the Week: families £2,900 worse off.
Published:
Making Tax Digital is now well underway for the first wave of sole traders and landlords, but new research suggests many are finding it more demanding than they expected. The findings come as HMRC prepares to bring in more than a million more sole traders and landlords from next April, and the second quarterly update deadline approaches on 7th November. Joining Rory McGowan to discuss the findings, and what listeners can do to prepare, is Rob Thomson, Head of Tax and Planning at Affinia.
Guests: Rob Thomson
Published:
Original Broadcast: This is Money
Could the personal allowance be raised to £15,570 in the Budget? That's the off-the-wall idea that emerged this week as a way of Labour nudging ahead if Andy Burnham called an early election. Georgie Frost, Simon Lambert and Lee Boyce discuss that and Simon's idea for how you could start to reform the tax system. In this episode: personal allowances, energy bills, buy-to-let and working from home, with the following timing: 2:01 — could the personal allowance rise to £15,570? 12:13 — How could Britain fix its tax system? 18:52 — Why are UK energy bills so high? 26:17 — Stock market story of the week: Airtel Money’s London listing 27:47 — Can landlords still make money from buy-to-let? 30:47 — Airbnb cameras: what are the rules? 35:55 — Working from home: is it time to get back to the office? and 45:45 — Simon’s stat. of the week: the rising cost of diesel.
Published:
Original Broadcast: This is Money
Has tax just got a little more taxing? 'Making Tax Digital' has come in, meaning hundreds of thousands of people need to make their first quarterly report to HMRC this week — and during the summer holidays to boot. Georgie Frost, Simon Lambert and Lee Boyce cover what you need to know about the changes and whether it’s a good move. How easy is it to find the right software, will it help reduce the ‘tax gap’, and who will need to start using it? A retirement giant has warned that the Government’s inheritance tax raid on pensions next year will undermine faith in saving long-term for later life. Should people be worried about the changes, or keep calm and carry on with their pension contributions? Also, last week a Premium Bonds £1 million winner scooped the top prize with a bond bought only six months ago. Is that unusual? Or do many people win the seven-figure sum quickly? Lee reveals all. Heading off on summer holidays? We give a reminder about the dos and don’ts when it comes to spending overseas — and what does the actor Will Ferrell have to do with it?
Published:
Original Broadcast: Thought for the Week
Not surprisingly, the proposal from Gary Lineker and his millionaire colleagues for a wealth tax has been met with ridicule — Robert Colvile writing in the Sunday Times says, 'The problem isn't that those who've signed the pledge are hypocrites. It's that they're idiots'. However, there is an alternative approach which could bypass gargantuan Government spending. Donating the equivalent sum to a charity of the philanthropist's choice would enable targeted support based on their analysis of need. This could provide a direct solution for the challenge of inter-generational rebalancing so that future generations are better placed to tackle national debt and future public sector payment obligations, which now exceed £9 trillion. Background music: 'Intellect' by Yung Logos
Published:
Original Broadcast: This is Money
As we approach installation of the seventh prime minister in just ten years, Georgie Frost, Simon Lambert and Helen Crane discuss how we are being seen as the political basketcase of Europe, and what it means for your money. There's also fury over reforms to ISAs, and a warning that Rachel Reeves' new tax on investors won't work. Plus, the Bank of England wants your help.
Guests: Helen Crane
Published:
Original Broadcast: This is Money
Georgie Frost, Simon Lambert and Helen Crane discuss a new Government report showing the scale of savings shortfall in British pensions, and how millions with lifestyle pensions could be left short. Also — mansion and wealth taxes are back on the agenda. Plus, Nationwide's new 'fairer share' gets an airing, and the team ask whether it makes sense to cap food prices.
Guests: Helen Crane
Published:
Original Broadcast: This is Money
A week is a long time in politics — and what a week it’s been. But what does all the turmoil mean for our money? And can we blame it all on Labour?Georgie Frost, Simon Lambert and Lee Boyce discuss the threat to Keir Starmer's leadership and why it has caused some market panic. If the Prime Minister is ousted, what could the new man or woman in charge change when it comes to tax and wealth? Nearly a quarter of retailers now no longer accept cash — but there is a cohort of 'cash preppers' tucking money away at home in case of payment outages. Should we care? NS&I has bumped up the underlying rate on Premium Bonds and made the odds of winning a prize shorter — are they now a good home for your cash again? And finally, Lloyds Bank launches a first-time buyer mortgage requiring a £5,000 deposit. Is it a good way to step onto the property ladder?
Published:
Original Broadcast: This is Money
It's been a long time in the making and the idea has run through successive governments, but a new law to improve the life of those who rent their home has finally kicked in. Whether it's much-needed or much-feared depends on which side of the landlord fence you are on, but what's not in doubt is that the Renters' Rights Act is a massive shake-up. The assured shorthold tenancy system that has been the backbone of renting a home for almost forty years has been torn up and replaced with rolling contracts that tenants can get out of with two months' notice. Landlords, however, will find it much harder to get their property back, put the rent up, or even turn down pets. So, is this what the rental market needs, or is it likely to backfire as some property experts warn? With decades of experience of renting, covering the property market — and even helping with a family business that's involved in it — Georgie Frost, Helen Crane and Simon Lambert dig into the Renters' Rights Act. Plus, the Bank of England held interest rates — but could it actually need to raise them three times this year? And what's behind the rocketing number of 45p/£ taxpayers and why isn't it Rachel Reeves' fault? Finally, travel experts reveal where is still cheap to fly to for the summer; so do you fancy a holiday in Cork, Dortmund or that old Wags' favourite, Baden-Baden?
Guests: Helen Crane
Published:
HMRC is urging self-employed workers and landlords to prepare for one of the biggest changes to the tax system in years. Under the Government’s 'Making Tax Digital' programme, hundreds of thousands of taxpayers will soon be required to keep digital records and submit quarterly updates to HMRC, with the rollout starting on 6th April 2026 for those earning over £50,000. As the thresholds fall over the following years, millions more people — including those with side hustles or online income — could eventually fall within the new reporting rules. Joining Rory McGowan to discuss this is accountant and UK tax expert at HaysMac, Graeme Privett.
Guests: Graeme Privett
Published:
