Money Box
Water Bills and Inheritance Tax for Farmers
Dec 14, 2024
Explore the rising support for low-income households facing soaring water bills in England and Wales, highlighting striking disparities across regions. Delve into the emotional fallout and strategic adjustments family farmers must consider with new inheritance tax regulations. Discover a listener's unexpected success in reclaiming a student loan refund, alongside a shocking story from the wellness industry that unveils darker truths about exploitation. It's a rollercoaster of financial insights and personal stories that resonate deeply.
24:47
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Quick takeaways
- The growing number of individuals benefiting from social tariffs for water bills highlights the regional disparities in financial support across England and Wales.
- The upcoming inheritance tax changes for farmers, introducing a 50% relief on assets over £1 million, are causing significant concern for agricultural families.
Deep dives
Record Support for Water Bills
A significant increase in the number of individuals in England and Wales receiving assistance with their water bills is reported, with over 1.5 million beneficiaries now on social tariffs. The average reduction on bills for those in need varies greatly by region, with Welsh Water offering the highest average discount of £287, while Southern Water provides only £110. Some families, like Morgan's from Liverpool, found themselves with substantial debts but managed to reduce their bill significantly through these support systems. This assistance plays a crucial role in alleviating financial burdens, allowing families to allocate funds to essential needs like food and utilities.
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