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Last Updated: Saturday, 6 October 2007, 12:36 GMT 13:36 UK
Tory tax plans
Shadow chancellor, George Osborne
BBC Radio 4's Money Box
Saturday 6 October at 1204 BST
On Radio 4 and Online

The government has challenged the figures underpinning detailed Conservative proposals to reform inheritance tax and stamp duty land tax.

The threshold for inheritance tax would rise from £300,000 to £1m under a Conservative government, shadow chancellor George Osborne told his party's conference in Blackpool.

And first time buyers would not pay stamp duty on homes worth up to £250,000.

Mr Osborne said the £3.5bn cost would be funded by imposing a £25,000-per-year charge for so-called "non-domicile" taxpayers.

These are people who live and work in the UK but who remain "domiciled" for tax purposes in a different country.

Under the present rules non-domiciled foreigners pay tax on the income they earn in the UK, but do not pay any tax on income that arises outside the UK.

But the chancellor Alistair Darling attacked the proposals, arguing they would raise much less than the £3.5 billion which Mr Osborne says they would deliver.

We discussed the proposals with Carl Emmerson, deputy director, Institute for Fiscal Studies and Philip Hammond, shadow chief secretary to the Treasury.

Further information:


HMRC laptop theft

The "?" key on a computer
Personal information must be kept safe under the Data Protection Act

A serious breach of security at HM Revenue and Customs has put people at risk of identity fraud.

The data was compromised when an HMRC laptop and a print out of individuals' names and financial details, were stolen from a car belonging to someone carrying out an audit for HMRC.

We discussed the breach with Nigel Legge, chief executive of Liontrust, one of the companies whose customer data has been lost.

Further information:


Pensions

A pension book
The pension payout could be backdated for a year

Up to half a million women in their early sixties could be in line for a pension payout.

The women missed getting a state pension at 60 because they had not paid quite enough national insurance contributions.

According to government figures obtained by Liberal
Democrat MP Steve Webb, more than 500,000 women are in this position, but he believes most of them could get a small pension - backdated for a year - if they paid a few hundred pounds to fill the gap in their national insurance record.

Steve Webb MP explained who could benefit and what steps they need to take.

Further information - links and helplines:

HMRC National Insurance Deficiency Helpline: 0845 915 5996 (Monday to Friday 8am - 8pm and Saturday 8am - 4pm)

General National Insurance Enquiries for individuals: 0845 302 1479 (Monday to Friday 8am - 5pm)

The Pension Service: 0845 606 0265 or for Welsh speaking customers: 0845 60 60 275 (Mon to Fri 8am - 8pm)

The Pensions Advisory Service helpline: 0845 6012923 (9am to 5pm, Monday to Friday, 9am - 5pm)

Related stories


Personal loans

A wallet
Some borrowers are feeling the credit crunch hit their wallets

The global credit crunch is making life harder for some customers, as banks become more cautious about lending money.

Those who wish to take out new loans and those who already have secured, consolidated loans are seeing interest rate rises.

We spoke to Andrew Hagger of comparison website, Moneyfacts, about how the interest rates are affecting loans across the market.

And we heard from one customer with a secured loan, who says she is struggling to manage with the payment increase.

Further information:


OTHER NEWS

Savings

The scheme to protect savers with money deposited in UK banks and building societies has been expanded, following the recent run on Northern Rock.

The current deposit protection scheme will now guarantee a saver's first £35,000 of savings. Chancellor Alistair Darling said this was the first stage of a wider reform to the system that protects customers.

Buy-to-let

The Institute of Directors has called for the tax relief that allows buy-to-let landlords to deduct interest costs from rental income for tax purposes to be scrapped.

The IOD say this would level the playing field between property investors and those who put their money into other financial assets.


BBC Radio 4's Money Box was broadcast on Saturday, 6 October 2007 at 1204 BST.

The programme was repeated on Sunday, 7 October 2007 at 2102 BST.



SEE ALSO
External internet links
05 Oct 07 |  Moneybox
Have Your Say: Tory tax plans
06 Oct 07 |  Inside Money


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