Merryn Talks Money Here’s the UK Wealth Tax to Really Worry About
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Jul 9, 2025 The discussion dives into the UK's daunting debt problem and its implications for future financial stability. Merryn and John examine wealth taxes, focusing on inheritance tax and capital gains tax as potential targets. They highlight the political challenges that often impede effective taxation reforms. The conversation also touches on the governance issues stifling economic growth and the urgent need for tax system reassessment. Finally, they explore the evolving roles of cryptocurrency and gold in personal investment strategies amidst the UK's financial landscape.
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UK's Unsustainable Debt Crisis
- The UK's debt is at a 75-year high with unsustainable borrowing costs.
- Political reluctance to cut spending or reform welfare worsens the fiscal outlook.
Wealth Tax Unlikely but Taxes Will Rise
- Wealth tax in the UK is politically toxic and historically unsuccessful.
- Expect increased capital gains and inheritance taxes instead of a direct wealth tax.
Potential Tax Changes on Inheritances
- Removing inheritance tax relief on main homes could bring many new taxpayers into the bracket.
- Ending capital gains tax rebasing at death would tax estates twice, combining CGT and IHT.