How to beat inheritance tax

Oct 20, 2017, 05:27 PM

Inheritance tax is one of the most hated around.

Despite the fact that most people will never leave enough wealth to have it charged on their estates, we really don't like the idea of 40% above a certain amount going to the taxman.

But IHT is also a tax that can be avoided. How? Listen to this week's podcast to find out, as Simon Lambert, Georgie Frost and Sarah Davidson discuss all things inheritance.

They look at how it works, ways to avoid it and the traps you could fall into.

They also have some ideas about what we should do about it.

If Chancellor Philip Hammond is listening - and we sincerely hope he does tune in – then he can get some feedback on an idea he was credited with this week: taking some money off the old, to give to the young.

What started out as rumours of a lower tax rate for the under-30s, ended up as an apparent Budget plan to cut pension tax relief for older savers and somehow boost what’s on offer to younger people.

Our story on this has been the most read of the week and the idea has faced a huge backlash. Why is that, could this work or is it just more shuffling of the deckchairs?

Also, up for discussion is the latest economy news, from inflation, to wages, a state pension increase and a November rate rise that may or may not be nailed on.

And finally, do you have a favourite motorway service station?

It turns out that some of the This is Money team are sad enough to have one – so if you’re like us you’ll be glad to know an astonishing 112 British service stations have been ranked.

What is Georgie’s top motorway service station? Listen to the end to find out. (Now, there’s an invitation.)