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.
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Original Broadcast: This is Money
The triple lock's days appear to be numbered. Prime Minister Andy Burnham revealed bold plans to ditch the pension guarantee from 2030 and replace it with what has been dubbed a 'double lock' at the Labour Party conference this week. Is it the right move? Georgie Frost, Lee Boyce and Helen Crane discuss. Elsewhere, Angela Rayner announced that councils could soon be allowed to take over empty buy-to-let properties, if they had been vacant for as little as six months. Helen explains EDMOs and who could be stung. Fancy working for yourself? We reveal the ten most in-demand self-employed roles ... plus, what to do if you find out a colleague is being paid a lot more than you for doing something similar? Finally, a new vape tax comes into force this week. What's changing, and will it really encourage people to kick the habit? Time stages: 01:17 — Is the triple lock on the way out? 19:21 — State Pension myths busted 22:50 — Could councils take over empty homes? 30:00 — The most in-demand self-employed jobs 34:53 — My colleague earns £20,000 more than me — what can I do? 39:52 — The new vape tax: how much will it cost? 45:17 — Lee’s tip of the week.
Guests: Helen Crane
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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.
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Original Broadcast: This is Money
The Bank of England held the base rate again on Thursday but mortgage rates have soared this week. Major lenders have made a wave of hikes and there are warnings that more are on the way, so what's going on? Is this just another temporary spike as the mortgage market throws one of the wobblies we've seen a number of times in recent years, or serious bad news with rates set to stick higher? Georgie Frost, Lee Boyce and Simon Lambert discuss interest rates, what this could cost people and what you can do if you need to re-mortgage. Plus, what does this all mean for gilts and the Budget, and did the Bank of England quietly make a decision that could make things materially better? With more investors buying gilts direct, should you take advantage of the higher rates on offer and how do you invest in UK government bonds? Or should you choose a fixed rate savings account at 5.2% instead. A This is Money reader question highlights the worst inheritance tax trap that lies at £2 million. And finally, would you do a Rokos and move to Greece — and, other than the weather, what are the attractions?
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Original Broadcast: This is Money
Retiring early, making your time your own and sticking it to the man is something many of us will have dreamed of. But what would it take you to get there and how much would you need to start investing now depending on your age and when you want to kick back? Georgie Frost, Lee Boyce and Simon Lambert look at the early retirement dream. Is it realistic, what do you gain and what do you give up, and why is it vitally important for some to use an ISA as well as a pension? One thing hampering many of our saving efforts is the cost of living and now inflation warnings are coming thick and fast again. How dire are the predictions, how likely are they to come true, what does it mean for the rest of your finances — and what’s the cost of a weekly shop got to do with things? Plus, the Renters’ Rights Act is about to deliver a landlord register, but is that a good idea or more red tape? And finally, trading cards are worth big money and catching the attention at the moment, so how did Lee become an accidental collector?
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Original Broadcast: This is Money
Is it crunch time on the bond markets or is this just another episode in a long-running soap opera that always leaves us on a cliff hanger?Turmoil on global bond markets has sent yields soaring on major countries' debt but the UK is suffering more than its rivals.So, what’s going on with the bond blow-out? How bad is it? Why does the UK pay more to borrow than similar countries? And why is it bad news for the Budget and our finances? Georgie Frost, Helen Crane and Simon Lambert discuss the bond market, explain what's going on and why it matters to you. Stoozing is back. Do you stooze, would you stooze — what on earth is stoozing, and is it wise? Plus, could you get duped by the British boutiques that are actually shoddy Chinese shops? And finally, a property report last week claimed the death of the dining room… but is it time to be contrarian and revive them? Revealing his true identity as a fully paid-up member of the property-owning bourgeoisie, Simon puts up a defence for the dining room — but do Helen and Georgie agree? Timings: 00:57 Why are UK government borrowing costs surging — and why should we care? 06:36 Is the world’s debt problem getting out of control? 10:46 What could the bond market turmoil mean for the Budget? 17:35 What does it mean for mortgages, savings and your money? 19:11 Stoozing is back: could you really make £750 from a 0% credit card? 29:46 Fake British boutiques: are you really buying cheap clothes from China? 38:03 Death of the dining room: do we still need one? 45:37 Simon’s stat of the week: more than one million pensioners paying higher-rate tax.
Guests: Helen Crane
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Original Broadcast: This is Money
From next year, those in receipt of the full state pension will have to start giving some of it back to the government in income tax.The Treasury has put in place a ‘waiver’ system for less well-off pensioners — but it has been revealed last week that those who chose to defer their state pension could miss out because of the extra income they receive. Georgie Frost is joined by Helen Crane and Tanya Jefferies to discuss whether that is fair, and how Britain’s state pension got so complicated. Staying on the subject of retirement, estimates of how much we have to save for old age usually assume we will own our homes and have paid off the mortgage by the time we quit work. But for a growing number of people, that isn’t the case — and a new study suggests those who rent during retirement could have to save £419,000 extra to afford it. With today’s youngsters expecting to get on the ladder later — or perhaps not at all — the problem is only set to worsen. The team discuss this shift and what people can do to prepare. Despite a greater need for rented homes, the property market is awash with landlords trying to offload flats. Who is going to buy them, and is it an opportunity for first-time buyers? And finally, from Lidl trainers to pizza menus and even Argos catalogues, we reveal the everyday items that could be tomorrow's collectables. Items covered: 01:04 — Why some pensioners could face income tax on the State Pension; 05:00 — Who could miss out on the Government’s proposed tax waiver?09:47 — Should you still defer your State Pension? 14:35 — The looming problem of renting in retirement; 19:00 — How much more do renters need to save for retirement? 23:36 — Why are so many landlords selling their flats? 27:28 — Are flats still worth buying? 30:58 — Is buy-to-let becoming a professional investors’ game? 36:08 — Could the junk in your house actually be worth money? 39:56 — Why old Argos catalogues and pizza menus could become collectables; 41:08 – Crane’s compliment of the week: Sainsbury’s.
Guests: Helen Crane,Tanya Jefferies
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Original Broadcast: This is Money
NS&I has just boosted the Premium Bonds underlying rate again to its highest level in nearly two years. The odds of winning are better too, with more £50,000 and £100,000 prizes to boot. More than 22 million of us hold Premium Bonds but after years of being beaten by the best savings accounts, are they suddenly looking like a good option again? And why raise the rate at all? Lee Boyce, Georgie Frost and Helen Crane discuss. Imagine you bought a house years ago, pay your mortgage every month ... only to discover the Land Registry still hasn’t registered it in your name. It could mean you can’t remortgage and are subsequently out of pocket. We discuss a case where this happened, why, and a deluge of cases we are hearing about. Inflation is heading the wrong way again - up from 2.6% to 2.9% in July, largely thanks to higher energy costs. What does that mean for base rate? Energy bills are likely to head higher still, with forecasts of another rise price cap rise in October. Is it time to fix? And finally, plug-in solar panels can be legally sold from next week. But before we all rush out to buy them, we explain what you need to know.
Guests: Helen Crane
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Original Broadcast: This is Money
After years of stagnant sales and plummeting prices…is the housing market about to take off again? Lee Boyce, Helen Crane and Georgie Frost discuss what's going with property values and hunt for green shoots of recovery. Some of Britain's biggest banks are offering far better savings rates under different brands. We look at where the deals are hiding and how much more you could earn. Crane is back on the case — this time, she resolves a reader problem with an £11,500 heat pump. It left some rooms at just 12°C – and their energy bills went up. A-level results day was this week — do the younger generation need to go to university? We talk about the pressures facing school leavers and why a degree isn't the only route to a successful career, running through best apprenticeships and jobs that don't require a degree.
Guests: Helen Crane
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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?
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