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

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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

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