Do you need to worry about Making Tax Digital?
About this episode
The episode discusses the implications of Making Tax Digital, inheritance tax changes, and features a Premium Bonds winner.
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 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? This week, a Premium Bonds £1million 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? Follow us on Instagram @dmgnewmedia. Follow us on TikTok @dmgnewmedia Follow us on X @dmgnewmedia Email us hello@dmgmedia.co.uk Text us…
People in this episode
Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane
Topics covered
- Making Tax Digital
- tax changes
- inheritance tax
- pension contributions
- Premium Bonds
- summer holidays
- spending overseas
Keywords
- Making Tax Digital
- HMRC
- inheritance tax
- pensions
- Premium Bonds
- summer spending
- tax gap
Mentioned in this episode
Organizations: HMRC, Government, Premium Bonds
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