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What should we do about inheritance tax? Listen to the This is Money podcast

The inheritance tax trap doesn
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What should we do about inheritance tax – and is it time to cut it? Listen to the This is Money podcast

This Is Money

Inheritance tax is a conundrum. Just 5 per cent of estates currently incur it but it’s been voted Britain’s most unfair major tax.

Even with the number of deaths hit by it expected to double, it will still only affect a small proportion of people, but it seems we just don’t like the concept.

It’s no wonder then that the Chancellor commissioned a report into it from the Office of Tax Simplification, but no one forecast that would be as damning about the system as it was.

The inheritance tax trap doesn't catch that many families but people still dislike it

The inheritance tax trap doesn’t catch that many families but people still dislike it

Inheritance tax is complicated, more than ten times as many bereaved families have to fill in forms as pay it, and it turns out the very rich pay proportionally less than those directly below them.

Poll

What should we do with inheritance tax?

  • Cut it



    1 votes
  • Raise it



    0 votes
  • Scrap it



    20 votes
  • Leave it the same



    2 votes

Does that make inheritance tax ripe for a change and how could it be adjusted? 

Simon Lambert and Georgie Frost discuss that on this week’s podcast.

Also, on the show they discuss why tenants are still waiting for a fees ban, whether the latest move to curb private parking tickets goes far enough and the least reliable cars you can buy second hand.

And finally, we’ve all heard the one about how airlines might use your browsing history to hike flight costs, but have you heard about error fares that can get you somewhere for a fraction of the normal price? 

And more to the point are both these true. We bust five flight booking myths.

How to listen to the This is Money podcast 

We publish our podcast every Friday to the player on This is Money, above, and on Apple Podcasts (iTunes) and on the podcast platforms Audioboom and Acast, both of which allow you to listen on desktop, mobile, or download an app. We also now publish to Spotify.

To download the Apple Podcasts app if you do not already have it, go to the App store. Or go to either the Apple App store or the Google Play store on Android to download the Acast, AudioBoom or Spotify app. 

Press play to listen to this week’s full episode on the player above, or listen (and please subscribe and review us if you like the podcast) at Apple Podcasts, Acast, Audioboom and Spotify or visit our This is Money Podcast page.   

 

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