In this episode Ato has a conversation with Dr Andy Summers, who is an Associate Professor of Law at the London School of Economics. His research focuses on the evaluation and design of UK tax policies, particularly those affecting top earners and High Net Worth Individuals (HNWIs). He is the Director of the Centre for Analysis of Taxation (CenTax), a research center dedicated to contributing to the design of a more effective UK tax system. In this episode we discuss - The effectiveness of the current UK Tax System - Who benefits the most and least from the current UK Tax System - What changes need to be made to the UK Tax System - How the UK could apply a Wealth Tax - Whether a Wealth Tax would solve Wealth inequality and much more Follow Dr Andy's work: https://centax.org.uk 📩 Sign up to my mailing list to be the first to know about upcoming events: ⁠⁠http://eepurl.com/hJEcLL 🤝 Sponsor Tide - Earn up to 4.48% AER Variable on your business savings here: ⁠https://www.tide.co/offers/savvywallet/⁠ You'll get a free £100 when you use the code ‘SAVVYWALLET’ and fund the Instant Savings Account with £5,000 within the first 30 days. Ts&C's apply. Save more, earn more—up to 4.48% AER (variable). Interest rates are tiered, with the top rate for balances over £1M. Each tiered rate applies to the portion within that range. New Tide members get these rates free for 6 months; after that, your Tide plan’s rates apply. For the full offer T&Cs visit ⁠tide.co/savings.⁠ Invoice Home - Create a FREE invoice with hundreds of templates here: ⁠https://invoicehome.com/to/savvy-wallet-audio 🤝Partners Check out our partners who offer Stocks and Shares ISA and more: ⚡️Hargreaves Lansdown ⚡️ ⁠https://hl.7eer.net/B0mz50⁠ Capital at risk ⚡️Interactive Investor ⚡️ ⁠https://prf.hn/click/camref:1101l3RTLM/ar:SW⁠ Capital at risk Some of the links are affiliate links which means that we will receive a small commission if you make a purchase, however there will be no additional charge to you. Timestamps 0:00 - Preview 0:56 - Intro 1:32 - Meet Tax Professor Dr Andy Summers 5:27 How does the UK tax wealth? 8:53 - How effective is the current UK Tax system? 14:38 - Is the current UK Tax system fair? 17:22 - Tide Ad 18:51 - Why does the UK Tax system tax income differently? 23:40 - What’s the best tax system for entrepreneurs? 25:18 - What groups gain the most and least from the UK Tax system? 31:14 - How do the rich take advantage of the UK Tax system? 36:47 - Do the rich pay their fair share of taxes? 39:01 - Invoice Home Ad 40:01 - How has the UK tax system contributed to wealth inequality? 42:19 - They’re not sharing the full picture on wealth inequality 47:41 - The proposal for taxing the wealthy and the rich 50:54 - What should be fixed first with the UK tax system 53:57 - How much could a wealth tax raise? 59:21 - At what threshold should a wealth tax apply? 1:05:01 - Will a wealth tax address wealth inequality? 1:08:04 - Should the UK have an exit tax ? 1:11:31 - Why the UK doesn’t have an exit tax 1:17:46 - Is the current UK tax system suited to our economy 1:23:05 - What is the impact of making changes to the Tax system 1:26:21 - Could we lower income tax in the UK? 1:32:30 - Will the rich really leave if we introduce a wealth tax? Factors 1:40:38 - Final words Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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