Money Box

Stock markets around the world have plunged in reaction to the import tariffs imposed by President Trump and then the retaliation of China which responded with its own tariffs on American goods. Economists have warned that this trade war could seriously damage the world economy, and make all of us poorer. By the end of Friday shares traded in London had fallen nearly 5% in price. What does that mean for investments?The earnings limit on Carer’s Allowance is to rise this week. From 7th April working carers can earn up to £196 per week after certain deductions, the equivalent of 16 hours at the National Living Wage, and continue to claim Carer’s Allowance. That's an increase of £45 compared to the previous earnings threshold. But what, if anything, does that mean for the thousands of carers who're in debt because they unwittingly got overpayments of the benefit?Last year we tapped our cards 19 billion times in shops, pubs, cafes, and retail outlets without using our PIN. At the moment the upper limit for contactless card payments in person is £100, but regulators are considering raising it or even scrapping it altogether. What would that mean in practice?And, a reminder to get your postage stamps before the cost of them goes up.Presenter: Paul Lewis Reporter: Peter Ruddick and Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast at 12pm Saturday 5th April, 2025)

Transcribed - Published: 3 May 2025

The cost of just about everything we need to run a home will be more expensive for millions of households from Tuesday. Switching on the lights, turning on the heating, turning on the tap, calling your mum or your best friend, logging on to emails, will all cost more with rises usually well above the rate of inflation. We'll have tips on how to tackle those bills if you're struggling to pay them.A payment service provider for hundreds of schools has decided to cease trading in the UK. What does this mean for parents who still have money on their accounts?And hundreds of thousands of better off parents who claim Child Benefit should soon have a simpler way of paying the tax they owe on it. Some higher earners who’ve had to register for self-assessment to pay something called the ‘High Income Child Benefit Charge’ will soon be able to pay it via PAYE. What does the announcement, which was in the Spring Statement, mean in practice?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast at 12pm Saturday 29th March, 2025)

Transcribed - Published: 26 April 2025

As the Chancellor, Rachel Reeves, presents her Spring Statement, Money Box Live sifts through the details about what it all means for your personal finances.Changes to the welfare system have already been announced. It will be harder to claim a disability benefit called Personal Independence Payment (PIP) under plans which the government says will get more people into work. We'll analysis any new details on that.The Spring Statement comes ahead of big plans already announced in last year's Autumn Budget such as changes to stamp duty for home buyers and an increase to National Insurance Contributions for some employers, so as well as dissecting new announcements we'll also remind you what else coming in and when.Felicity Hannah is joined by Sarah Pennells, Consumer Finance Specialist at pensions company Royal London; Elsa Littlewood, Tax Partner at the accountancy firm BDO and Mike Brewer, Chief Economist and Deputy Chief Executive of the Resolution Foundation.Presenter: Felicity Hannah Producer: Sarah Rogers Reporter: Emma Smith Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday 26th March, 2025)

Transcribed - Published: 23 April 2025

We report from Parliament as the Minister for Energy Consumers and the regulator Ofgem face questions from MPs about the banned process of back-billing. That's when energy suppliers wrongly send new bills for energy use longer than 12 months ago. We'll get reaction from Labour MP Bill Esterson who is the Chair of the House of Commons Energy Security and Net Zero committee, which sat on Wednesday.And the biggest shake-up to benefits in a decade was announced by the government this week. It hopes the changes will ultimately save it five billion pounds a year from a benefits bill which Work and Pensions Secretary Liz Kendall told Parliament was 'a failing system that is currently not sustainable'. She proposed major changes to some benefits, what will this mean in practice?Presenter: Paul Lewis Reporters: Dan Whitworth and Eimear Devlin Researcher: Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 22nd March 2025)

Transcribed - Published: 19 April 2025

There will be no compensation for more than 46,000 people who lost thousands of pounds each when the funeral plan firm Safe Hands went bust 3 years ago. The regulator - the Financial Conduct Authority - was told this week it should consider compensating them after a report by Rachel Kent, the Complaints Commissioner, set out the FCA's failings over Safe Hands. In response, the FCA has said it does not accept it was at fault, that it did not regulate the funeral planning firm at the time, and no compensation would be paid. This month the Government has announced plans to scrap new leasehold flats, replacing it with a system called commonhold already used in Scotland where homeowners collectively own the building and the land. But how will the planned improvements to the rights of existing leaseholders work? There's changes to how 'side-hustlers' report their earnings to HMRC, but it's not a tax cut, how will that work?And there's extra money to help pensioners in Northern Ireland with their heating bills.Presenter: Paul Lewis Reporters: Dan Whitworth and Eimear Devlin Researcher: Jo Krasner Editor: Sarah Rogers.(This programme was first broadcast at 12pm Saturday the 15th of March 2025)

Transcribed - Published: 12 April 2025

Over the past few weeks there's been speculation over the future of ISAs - Individual Savings Accounts. At the moment each saver can deposit up to £20,000 each tax year into an ISA tax-free, but there have been reports that the Treasury is considering making some changes. Things like lowering the limit to £4,000. In a statement to Money Box the Chancellor Rachel Reeves said that while it's important to support people to save, they want to get the balance right. She wants to create "more of a culture in the UK of retail investing." What does that mean and what might change?Some listeners have been experiencing delays after trying to boost their state pension by filling old gaps in their National Insurance record. At the moment a window is open for people who have not yet reached pension age and those already on the new state pension to fill gaps in their record back as far as 2006. But in just a few weeks time that window will close. The government told us that it's processing payments as quickly as possible and that people who at least take the first step by 5 April will still be able to fill those gaps.Are water companies banned from sending out bills for water used more than 12 months ago as energy suppliers are? And more than 35,000 people who were aged 55 or over took out new mortgage loans in the last 3 months of 2024, up 30% on the year before, what's behind the rise?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 8th March 2025)

Transcribed - Published: 5 April 2025

From April water bills for millions of households in England and Wales will go up by record amounts. Exactly how much more you'll pay will depend where you live but, on average, bills will increase by more than £10 per month meaning a total average cost of over £600 a year. What can you do if you're struggling with those bills?There's just a month left for people in the process of buying a home in England and Northern Ireland to complete the sale before stamp duty rises on April the first. Some estimates suggest there could be tens of thousands of buyers who will miss that deadline by just a few days. What can you do if you're trying to hit that deadline?Train fares in England and Wales will go up on Sunday. At the same time, most railcards, which give you cheaper fares in England Wales and Scotland, will cost you more. We'll have more on that.And energy prices will also go up in April. We’ll take a look at the issue of standing charges. Why do they vary regionally, and how might Ofgem’s proposals to reform them work?Presenter: Paul Lewis Reporters: Dan Whitworth and Haider Saleem Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 1st March 2025)

Transcribed - Published: 29 March 2025

Politicians, banks and builders all talk about the dream of homeownership, but it's not easy to get on the property ladder.New figures given to Money Box Live show that, even though the Bank of England has reduced interest rates, it's now more expensive for a first-time buyer with a 10% deposit than it was two years ago. In this Money Box Live we hear from someone trying to save enough for a deposit, someone trying to navigate through conveyancing to complete their sale - and someone who overcame the obstacles and challenges to move into their dream home.Felicity Hannah is joined by Sarah Tucker, Director and Founder of the broker the Mortgage Mum and Emily Williams, Director, Residential Research at the estate agent Savills.Presenter: Felicity Hannah Producers: Sarah Rogers and Catherine Lund Editor: Jess Quayle(First broadcast at 3pm on Wednesday 26th February 2025)

Transcribed - Published: 26 March 2025

The energy regulator Ofgem says suppliers must take urgent action to find out how widespread a problem back billing is. It's when suppliers send out new bills for electricity and gas from longer than 12 months ago, a practice that was banned in 2018. The development follows Money Box's investigation which discovered thousands of people have wrongly been receiving back bills. Paul Lewis interviews Tim Jarvis, Director General of Markets at Ofgem.And unspent pension pots will be subject to inheritance tax from 2027. This change, announced by Rachel Reeves in the Autumn Budget, means most unused pension funds will be included within the value of a person’s estate for Inheritance Tax purposes from 6th April 2027. Money Box has been getting lots of emails from listeners who're now reconsidering their financial planning and are worried and upset about the new rules. The Treasury told us it continues to incentivise pensions savings for their intended purpose of funding retirement instead of them being openly used as a vehicle to transfer wealth. But how will the new rules work?Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researcher: Eimear Devlin Editor: Jess Quayle(First broadcast 12pm Saturday 22nd February 2025)

Transcribed - Published: 22 March 2025

People owe more money for gas and electricity bills than ever before. New calculations from the energy consultancy firm Baringa reveal the average typical energy debt is £1,500 - that's up £300 in a year. The total owed to energy companies is 3.8 billion pounds, which is almost double what it was two years ago.Energy prices are also forecast to rise by 5% from April, adding £85 a year to household bills meaning a household using a typical amount of gas and electricity would pay £1823 a year.In this Money Box Live, we're finding out how to manage energy debts and how to avoid getting into the red in the first place.Ruth Alexander is joined by Matthew Sheeran from the free debt advice provider, Money Wellness, and Eleanor Taylor from Baringa.Presenter: Ruth Alexander Producers: Sarah Rogers, Catherine Lund and Neil Morrow Editor: Jess Quayle(First broadcast 3pm on Wednesday 19th February 2025)

Transcribed - Published: 19 March 2025

The energy regulator Ofgem has been given less than two weeks to get answers for Parliament on the banned practice of back billing, which is when people are sent new bills for energy used longer than 12 months ago. In a letter written to the Chief Executive of Ofgem the chair of the Energy Security and Net Zero committee highlights Money Box's recent investigation into back billing, saying he considers there to be evidence of serious wrong doing on the part of energy suppliers and the need for intervention on the part of the regulator. Ofgem told Money Box it's reviewing supplier billing practices and "looking closely at supplier compliance with back billing rules to make sure customers get the service they are entitled to." For the first time since our investigation began Paul Lewis interviews Dhara Vyas, the chief executive of Energy UK, which represents energy suppliers.State pensions paid to tens of millions of people will go up in April by 4.1%, but depending on how your pension is paid - weekly or monthly - some people may not get the extra money until May. How to make sure you get it as soon as possible.And people who get into debt often find that it gets worse because of the high interest rates they are paying. Often they are only paying interest not reducing the amount owed at all. A new scheme by credit unions is trying to solve that by giving an affordable loan to people in debt at a low rates of interest so they can pay off their expensive debt and afford the repayments on their new debt. How will it work?Presenter: Paul Lewis Reporters: Dan Whitworth and Peter Ruddick Researchers: Eimear Devlin and Jo Krasner. Editor: Jess Quayle(First broadcast 12pm Saturday 15th February 2025)

Transcribed - Published: 15 March 2025

We all dream about what we will do when we don't have to work anymore. The perfect retirement looks different for everyone, from travelling the world and luxury holidays to spending more time with family and friends, but the cost of stopping work can be bit of a wake-up call.In this Money Box Live we'll look at how to make the most of the savings you have as retirement approaches to how to start planning for retirement at the start of your career.Felicity Hannah is joined by Sangita Chawla, Managing Director at Standard Life and Zoe Alexander, Director of Policy and Advocacy at the Pensions and Lifetime Savings Association to answer your questions - and offer tips on how to plan for a good retirement.Presenter: Felicity Hannah Producer: Catherine Lund Editor: Jess Quayle(This programme was first broadcast at 3pm Wednesday 12th February, 2025.)

Transcribed - Published: 12 March 2025

The Chair of the House of Commons Energy Security Committee has told Money Box that the behaviour of the energy firms is "outrageous" following our investigation into so called back-billing. That's when energy firms send out a new bill for gas or electricity which was used more than 12 months before. Last week we reported that thousands of people have complained that is still going on. Energy UK, which speaks for the big suppliers said if customers think they are being asked to pay for energy covered by the back-billing policy, they should contact their supplier as soon as possible to resolve the complaint quickly and efficiently. The Department for Work and Pensions asks executors and families to repay state pensions it has sent to people who have already died. It says it asks for it back to protect public funds, but do you have to pay?And high interest rates means more people paying tax on interest savings, but how do you know and what are the rules?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Eimear Devlin Editor: Sarah Rogers(First broadcast 12pm Saturday 8th February 2025)

Transcribed - Published: 8 March 2025

Paying for care in later life is something many of us will face. Unlike other NHS services, social care is not free at the point of use, the average annual care home cost is £60,000, if additional care is needed that price will go up. After a recent special Money Box Live from Grange Care Residential Home in Sheffield we received so many questions that we simply couldn't get through them all on air, so we've raided the inbox and brought in the experts to return to the topic to answer as many was we can.From how to plan to pay for care, what your money pays for, and how to challenge fees, Felicity Hannah, is joined by Tish Hanifan, the Founder of the Society of Later Life Advisors and Vic Rayner, CEO of the National Care Forum and Chair of the Care Providers Alliance.Presenter: Felicity Hannah Producer: Catherine Lund/Sarah Rogers Editor: Sarah Rogers(This programme was first broadcast at 3pm on Wednesday the 5th of February, 2025).

Transcribed - Published: 5 March 2025

Thousands of people have made complaints to the Energy Ombudsman related to so-called back billing, which is when customers are sent new bills for energy use longer than 12 months prior. The practice was banned by the regulator Ofgem in 2018 but is still causing consumers problems. In the cases investigated by Money Box customers had to complain multiple times before their suppliers recognised they'd broken these rules and cancelled the bills. Ofgem says it's committed to reviewing billing practices while the trade industry body Energy UK says suppliers are continuously working to improve practices.Is the Lifetime ISA fit for purpose in 2025? That's the question being asked as Parliament's Treasury Committee calls for evidence about whether it is still an appropriate financial product nine years after it was created. We'll discuss how it works successfully for some, but also the problems some people face.The price people in England and Wales pay for water and sewage services will rise sharply from 1st April. Figures announced this week revealed that households in England and Wales will pay on average £123 a year more for their water. What can you do if you're worried about affording your bills?And thousands of people in Northern Ireland are still without power after Storm Éowyn last week - what help is available?Presenter: Paul Lewis Reporters: Dan Whitworth and Eimear Devlin Researcher: Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 1st February 2025)

Transcribed - Published: 1 March 2025

Research from charity Scope suggests that disabled households have to find an extra £1,000 pounds a month to have the same standard of living as non-disabled households. Extra costs include, heating, equipment and transport. Having a disability can also mean navigating the benefits system - a system that Chancellor Rachel Reeves said today would undergo reform by the spring, as the government struggles to manage the rising cost of claims.Felicity Hannah is joined by Dan White from Disability Rights UK and Sarah Coles, Head of Personal Finance at Hargreaves Lansdown.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(First broadcast 3pm Wednesday 29th January 2025)

Transcribed - Published: 26 February 2025

Over 1.4 million pensioners unexpectedly received a tax bill last year, according to exclusive data shared with Money Box. The mutual life, pensions and investment firm Royal London says its research suggests more than two thirds of those who'd retired paid tax on their pension income last year. But, also, that 1 in 7 of those didn't expect to do so. Pensioners can pay tax on anything that counts as income if it goes over the personal tax free allowance of £12,570 a year. We'll discuss how that works.A record number of people in England and Wales who were overwhelmed by their debts took out what is called a debt relief order last year. DROs freeze people's debts for 12 months and then write them off. They're a cheaper, more straightforward alternative to bankruptcy although there are serious financial implications and strict criteria about who can apply for them. We'll find out more about what's behind that rise.Savings rates are still high but there's £300 billion in bank accounts earning nothing, what's behind that?And, unexpected mobile and broadband mid-contract price rises are now banned after a change by the regulator. What does that mean?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 25th January 2025)

Transcribed - Published: 22 February 2025

Car, home, travel and life insurance are just some of the policies we might take out to protect ourselves if the worst happens.This year we've already seen floods followed by freezing temperatures and property claim pay outs hit £4.1 billion last year according to industry figures.So this week we look at whether insurance companies step up when we need them, and more widely at the rising costs of insurance, particularly for motorists.Felicity Hannah is joined by experts Mark Shepherd from the Association of British Insurers, and Sam Richardson, Deputy Editor of Which? Money.Presenter: Felicity Hannah Producer: Sarah Rogers and Craig Henderson Editor: Jess Quayle(This programme was first broadcast at 3p.m. on Wednesday 22nd of January 2025)

Transcribed - Published: 19 February 2025

A senior MP has backed calls to start automatically paying out hundreds of millions of pounds to young adults if they haven’t claimed government-backed child trusts funds by the time they turn 21. Sir Geoffrey Clifton-Brown, who is also chair of parliament’s Public Accounts Committee, says the move would help nearly half a million people born between 2002 and 2011 access one billion pounds of their own money that they don’t even know about. The government says the idea would be complex and costly.There has been a lot of talk on the news about gilts and the bond market. We're joined by Russ Mould, the investment director of AJ Bell, to explain what a gilt is and whether you can buy one?There's less than three months left to boost your state pension by to filling old gaps in your National Insurance record. At the moment people who have not yet reached pension age and those already on the new state pension can fill gaps in their record back as far as 2006. From this April that window will be shut. What should you do, if you think you've got gaps to fill?And, the couple who boosted their income by more than a hundred pounds a week after listening to Money Box. Find out how they did it.Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 18th January 2025)

Transcribed - Published: 15 February 2025

1 in 5 parents say they're struggling with the cost of sending their children to school according to the National Parent Survey.There're uniform costs, school trips, afterschool clubs and school dinners to consider, but is there a way to keep costs down?Some changes are on the way with government plans to give every parent of a child in a state primary school in England the legal right to a half hour breakfast club, as well as limits on how many branded uniform parents have to buy. This week Felicity Hannah will hear from parents and is joined by Jo Thurston, parenting coach from Action for Children’s Parent Talk service, Sarah Coles, head of personal finance at the investment platform Hargreaves Lansdown and Neil Renton, Head Teacher of Harrogate Grammar School.Presenter: Felicity Hannah Reporter: Sarah Rogers Editor: Jess Quayle(This programme was first broadcast at 3pm on Wednesday the 15th of January 2025)

Transcribed - Published: 12 February 2025

The Government made a start this week on its manifesto promise to provide free breakfast clubs in every primary school in England. The Children's Wellbeing and Schools Bill got through its first big step in the House of Commons on Wednesday and will give every parent of a child in a state primary school in England the legal right to a half hour breakfast club for their children with food and childcare. Schools Minister Stephen Morgan speaks to Paul Lewis about the plans.New research form the housing and homelessness charity Shelter, seen exclusively by this programme, suggests more than half of those facing housing worries have been kept awake at night over the past year due to concerns about things like high rents, poor conditions and the risk of eviction. What can be done to help them?And millions of people who need to file a self assessment tax form have still not done it - and the deadline is less than three weeks away on January 31st. Listen for the Money Box guide on what you need to know.Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Emma Smith, Eimear Devlin and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 11th January 2025)

Transcribed - Published: 8 February 2025

Money Box Live broadcasts from Grange Crescent Residential Care Home in Sheffield for a special programme on the cost of care.Unlike NHS services, social care is not free at the point of use. It costs an average of around £60,000 per year to live in a residential care home and considerably more if you need nursing care.Last week the Department of Health and Social Care announced a new review into care costs, but the independent commission tasked with the job will not publish it's final report until 2028.We'll be speaking to residents and family members about how they're paying their care bills and hearing from the care home manager about how it all works.Joining Felicity Hannah is Claire Rintoul, CEO of the charity Sheffcare which operates Grange Crescent Residential Care Home as well as eight others in the city, Professor Vic Rayner, Chair of the Care Providers Alliance which represents independent and voluntary adult social care providers in England and from the Society of later life advisors, Independent Financial Advisor Jonathan Rowley.Presenter: Felicity Hannah Producer: Sarah Rogers Production Coordinators: Emma Smith and Molly Pipe Editor: Jess Quayle(This programme was first broadcast 3pm on Wednesday the 8th of January, 2025)

Transcribed - Published: 5 February 2025

Temperatures have fallen below zero in much of the UK this week, just as gas and electricity prices rose. From New Year's Day the price cap set by the regulator Ofgem on every unit of power we use will mean the price for heating, washing and cooking for a typical household will rise by just over one per cent. A typical bill will go up £21 a year to £1,738. But, that is in fact 10% or £190 lower than the price cap set a year ago. How are people coping with costs this winter?From New Year's Day the fees private schools charge parents will be subject to VAT at 20%. Previously private school fees were exempt. The Independent Schools’ Bursars Association has told Money Box that schools are raising fees from this term by between 13% and 18%, though some are absorbing the whole cost while others pass on the full amount raising fees by 20%. What impact will that have on schools and parents? The Treasury says pupils numbers at independent schools have remained steady since 2000, despite fees increasing by around 75% in real terms since then. We'll speak to Rudolf Eliott Lockhart - CEO of the Independent Schools Association.From 1st January catching the bus could cost you 50% more. Single fares in England which had been capped at £2 have risen by a pound to a maximum of £3. What impact will that have on passengers?And 'tis the season to be - taking things back. What are your refund rights?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Emma Smith, Catherine Lund and Eimear Devlin. Editor: Jess Quayle(First broadcast 12noon Saturday 4th January 2025)

Transcribed - Published: 1 February 2025

There are 36 million pets in the UK, which doesn't include fish and other aquatics, and the cost of owning one can add up.One of the biggest bills a pet owner can face is the price of taking their animal to the vet. The Competition and Markets Authority launched an investigation earlier this year into whether people are paying too much and whether they are getting information about treatment options. It says the 'unprecedented response' it's had shows the strength of feeling. Aside from that, there's the general cost of care like food and heating bills.This week Felicity Hannah is joined by Dr. Elizabeth Mullineaux, dog owner, vet and current president of the British Veterinary Association and by Lisa Webb, dog and cat owner and senior lawyer at the consumer organisation Which?We also hear from an award winning dog breeder, a cat and rabbit rescue centre and even head to a dog Christmas party - although we must point out, a pet is for life, not just for the festive season.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast on Saturday the 28th of December 2024).

Transcribed - Published: 25 January 2025

Electricity and gas suppliers say they're offering hundreds of millions of pounds of additional support for customers this winter. Energy prices will rise again on New Year's Day and the latest figures from the regulator Ofgem show customers already owe suppliers a record £3.7bn in unpaid bills. We'll look at what help customers might be able to get if they're struggling to pay their bills.On Thursday the Bank of England kept the Bank Rate unchanged at 4.75%. We'll ask a mortgage broker what buyers can expect in 2025? As a deadline approaches for government funded childcare hours for some working parents – how does it work and how can they apply?We'll look back at some of the help given to Money Box listeners this year and hear music from the Barton Road Choir.Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Emma Smith and Jo Krasner Editor: Jess Quayle(First broadcast at 12pm Saturday 21st December 2024)

Transcribed - Published: 18 January 2025

Almost half of us are making money from side hustles according to the comparison site, Finder.But how do they work, what do you need to do if you have one and when do you need to tell the tax office?We will be meeting those using their hobbies to boost their bank balances this Christmas as well as clearing up the rules around selling on online platforms.Joining Felicity Hannah is Helen Thornley from the Association of Tax Technicians and Vicks Rodwell of IPSE, the association for self-employed people. Presenter: Felicity Hannah Producers: Sarah Rogers and Neil Morrow Production Coordinator: Emma Smith Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday 18th December 2024)

Transcribed - Published: 15 January 2025

Some councils in England are offering vouchers or money directly to pensioners who've lost out on the Winter Fuel Payment this year. The money is being offered as part of the Household Support Fund, which is money given by the government to local councils to use to help residents who're struggling with essential bills, like energy and food costs. Winter Fuel Payment can be £200 or £300, but this year it's means tested, meaning millions of people will no longer get it. Money Box has found that some pensioners may still be able to get help with their energy bills via their council, if they've just missed on qualifying but are still struggling. The government says over a million pensioners will still receive the Winter Fuel Payment and that its drive to boost Pension Credit take up has seen applications more than double with over 40,000 more pensioners now receiving it.The law relating to how couples split their assets and provide for each other and any children after divorce was last changed in England and Wales more than fifty years ago. On Wednesday the Law Commission which advises the government on how well laws are working will publish its findings on whether the current rules deliver fair and consistent outcomes. If it finds problems it will make suggestions for how they might be solved. We'll discuss what those options might be.And, we often talk about how hard it is for young people to afford buy their first home - but how easy is to manage finances once you get on the property ladder?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Emma Smith and Jo Krasner(First broadcast 12noon Saturday 14th December 2024)

Transcribed - Published: 11 January 2025

The British public is expected to donate close to £3bn to good causes over the festive season according to research from the Charities Aid Foundation.If you are giving this year, how can you make sure all of your money gets to your favourite charity or if the charity is even real? We'll be considering the different ways to give and giving advice on how to avoid scams as well as hearing from some charities about how they're faring.Felicity Hannah is joined by David Holdsworth, CEO of the Charities Commission for England and Wales and Philippa Cornish, Head of Charities at the Charities Aid Foundation.She also chats to best friends and super fundraisers Hughie and Freddie, who have raised hundreds of thousands of pounds for Children's hospitals.Presenter: Felicity Hannah Producers: Sarah Rogers and Catherine Lund Researcher: Emma Smith Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday the 11th of December 2024)

Transcribed - Published: 8 January 2025

Around 9 out of 10 charities have told a new report they've had at least one issue with banking in the past two years. The Charity Finance Group and National Council for Voluntary Organisations spoke to almost 2,000 charities in the UK and found more than three quarters had struggled to change the named signatories on their bank account and 4 in 10 said that the checks they were asked to complete weren't designed for voluntary organisations. We'll speak to one of the authors of that report and get reaction from UK Finance, which represents banks.What were the key announcements in the Scottish Budget? We'll discuss income tax thresholds and a promise to lift the two-child benefit cap.If you're a pensioner missing the Winter Fuel Payment this year - what other help could you get if you're struggling? We'll look at Attendance Allowance - who's eligible and how you can apply.And, what's the best advice to make sure you're not inadvertently insuring the same thing twice?Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Emma Smith and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 7th December 2024)

Transcribed - Published: 4 January 2025

Almost a million women are trapped in dangerous relationships because of economic abuse, figures from a dedicated charity suggest.Economic abuse is now a legally recognised form of domestic abuse. It could include not allowing access to cash or bank accounts or the things money buys like food and clothing.The charity Surviving Economic Abuse reports that 1 in 7 women in the UK have experienced this kind of control and coercion at the hands of a partner and we know that men can face it too. Felicity Hannah is joined by Sam Smethers the CEO of Charity Surviving Economic Abuse and also solicitor Gary Rycroft.Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Emma Smith Editor: Jess QuayleIf you've been affected by any of the issues in this programme then details of help are available at bbc.co.uk/actionline, or you can call for free, at any time to hear recorded information on 08000 155 947.(This episode was first broadcast at 3pm on Wednesday the 4th of December 2024)

Transcribed - Published: 1 January 2025

A new report about the UK’s main financial regulator was published this week, concluding the Financial Conduct Authority is "seen as incompetent at best, dishonest at worst." The report was put together by the All Party Parliamentary Group for Investment Fraud and Fairer Financial Services, which is made up of cross-party MPs and members of the House of Lords. They spoke to victims of financial scandals who lost money in frauds and heard testimony from people who worked, and some who still do work, for the organisation. The FCA has said it sympathises with those who have lost out as a result of wrongdoing in financial services, however it strongly rejects the characterisation of the organisation. We'll hear from the co-author of the report and, in his first interview since its publication, we'll speak to Nikhil Rathi, the Chief Executive of the Financial Conduct Authority.What deals can people expect if they’re re-mortgaging their homes over the next 6 months?  We'll hear from listeners affected and get some advice from a mortgage broker.And, the 9 year old coin collector who has found a special £2 coin and wants to know whether to spend it or save it.Presenter: Felicity Hannah Reporter: Dan Whitworth Researcher: Emma Smith Editor: Jess Quayle(First broadcast 12pm Saturday 30th November 2024)

Transcribed - Published: 28 December 2024

More than 800,000 people have called a dedicated fraud line, which connects them with their bank if they think they’re being scammed, since it started 3 years ago. Stop Scams UK, which set up 159, says 20 banks are now part of the service. We'll hear from a woman who called the number after losing £4,000 in a scam and find out more about how it works.Complaints about the wealth manager St James Place have risen sharply amid a major historical review of the ongoing fees it charged its customers. Fifteen thousand clients complained to the company directly in the first half of this year, and complaints to the Financial Ombudsman Service quadrupled in that time compared to the year before. St James Place says beginning last year, it saw an increase in the number of complaints received. While these have since reduced, it continues to do everything it can to work through them as quickly as possible. It has put in place processes including training and recruitment to maximise the number it can complete without jeopardising the quality of the investigation, and says that it apologises for any delays clients may experience during that time. Some first-time buyers are finding that Lifetime ISAs, a government scheme that adds a 25% bonus to everything you put in towards your deposit, aren't working for them when they come to buy a home. It is because there's a £450,000 cap on the price of the property you can buy, which some find prices them out of buying where they live. The Treasury says that across the vast majority of the country and in most London boroughs, the average price for a first-time home remains below the cap. Presenter: Felicity Hannah Reporter: Dan Whitworth Researcher: Emma Smith Editor: Jess Quayle(First broadcast 12pm November 23th 2024)

Transcribed - Published: 21 December 2024

A record number of people in England and Wales are getting help with the cost of their water bills. The number of people on low incomes who have been given a reduction in their bill grew last year by 250,000 to 1.6 million. They are called 'social tariffs' but newly released data from the Consumer Council for Water shows the amount people get varies widely depending on where they live. Water UK, which represents the water industry, says these are average figures with eligible customers able to receive a much higher deduction. Dan Whitworth will have the full details of this story.In a week where changes to Inheritance Tax for farmers have dominated the headlines, we’ll discuss how the changes will work and who will be affected. There's a new inflation measure developed specifically for Northern Ireland. The Northern Ireland Consumer Prices Index allows statisticians to compare how fast prices are rising against the UK rate. We'll find out more about how it's calculated.Plus, the listener who got a £1,500 refund on his student loan after listening to Money Box.Presenter: Paul Lewis Reporters: Dan Whitworth, Emma Smith and Eimear Devlin Researcher: Catherine Lund Editor: Jess Quayle(First broadcast 12pm Saturday 16th November 2024)

Transcribed - Published: 14 December 2024

New research estimates that there are more than 3 million lost pension pots in the UK. These are pensions that have been paid into by an employer but the scheme can no longer find the person who owns it. The Pensions Policy Institute research also found number of lost pots has risen more than 17% since 2022. The Department for Work and Pensions told us millions of people will be saved from losing track of their pension pots thanks to its plans to consolidate deferred small pots in its forthcoming Pension Schemes Bill. The Pensions and Lifetime Savings Association says the industry has funded campaigns to raise awareness. Go to gov.uk and search 'pension tracing' to find contact details for your old pensions.Hundreds of thousands of former university students are being urged to check if they have paid too much towards their student loan and if so to claim a refund. The campaign group Save the Student made the call in response to new figures from the Student Loans Company, published for the first time, which show former students are eligible for refunds worth £184m. And in last week's Budget the Chancellor, Rachel Reeves, announced a reduction in the level of debt repayments that can be taken from a household’s Universal Credit payment each month. The new "Fair Repayment Rate" will reduce Universal Credit deductions from 25% to 15% per month. The government says that means that 1.2 million households will keep more of their award each month and those who benefit will gain an average of £420 a year. Presenter: Paul Lewis Reporters: Dan Whitworth Researchers: Emma Smith and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday November 9th 2024)

Transcribed - Published: 7 December 2024

Wednesday saw the first Budget from a Labour government for nearly 15 years and the first ever delivered by a female Chancellor. Rachel Reeves wasn't the first to stand up in the Commons and announce tax rises, but the scale of them was large by historical standards - about £40bn a year by 2029/30. The bulk of that will come from raising National Insurance contributions paid by employers. There will also be higher rates of Capital Gains Tax, VAT on private school fees, changes to Inheritance Tax and a rise in stamp duty in England and Northern Ireland.As promised, there was no rise in the rates of Income Tax, VAT or National Insurance in what the government called the payslips of working people. There was some welcome news as the freeze on Income Tax thresholds will end in April 2028, minimum wages will rise, and the tax on petrol and diesel will not. Paul Lewis discusses the details with a panel of experts. And, could a landmark ruling by the Court of Appeal pave the way for millions of pounds of compensation for people who bought their cars on finance? Presenter: Paul Lewis Reporter: Sarah Rogers and Neil Morrow Researchers: Emma Smith and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday November 2nd 2024)

Transcribed - Published: 30 November 2024

The Chancellor, Rachel Reeves, has announced her Budget but what does it mean for yours?Money Box Live is breaking down what the Budget mean for your finances, from pensions and Inheritance Tax to the cost of a pint. We hear from the experts who are on hand to answer your questions and comments.Felicity Hannah is joined by Dr Arun Advani, Professor of Economics at the University of Warwick and Kirsty Stone a partner at the independent financial advisers, The Private Office.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday the 30th of October 2024)

Transcribed - Published: 27 November 2024

There are just a few days to go until Rachel Reeves stands up in Parliament to deliver her first Budget as Chancellor. Since the Labour Party won the election in July, there's been a huge amount of speculation about what she might do to plug what she calls a 22 billion pound black hole left by the previous government. The Treasury says it does not comment on speculation around tax changes outside of fiscal events. But what tax changes might she make and how are people already preparing?Figures seen by this programme suggest 2.5mn households will face tough decisions this winter about choosing whether to heat their homes or put food on their table. That's an increase of 400,000 in just a few months. The numbers come from official data modelled by the consultancy firm Baringa and indicate many of those who will be affected this winter are middle aged people struggling to get by.What do changes to Premium Bond rates mean for savers and where are the best deals at the moment?And, as the Financial Conduct Authority cracks down on some so-called “finfluencers” – for potentially giving money advice illegally – how can you spot the good from the bad?Presenter: Paul Lewis Reporters: Dan Whitworth, Jo Krasner and Emma Smith Editor: Jess Quayle (First broadcast 12pm Saturday 26th October 2024)

Transcribed - Published: 23 November 2024

More than half a million young people are yet to claim their Child Trust Fund which could be worth up to £2,200 according to the government, but how do you know if your child has one or even how to get it? Plus with the Chancellor's budget on the way, we know parents are topping up Junior ISAs and giving away monetary gifts ahead of any changes she might make.So, today we're looking at how to build a solid financial future for the children in your life and how to help get them get engaged when it comes to their finances.Felicity Hannah is joined by Stephanie Fitzgerald, Head of Young People at the Money Charity and Sarah Coles, personal finance analyst at Hargreaves Lansdown.Presenter: Felicity Hannah Producers: Sarah Rogers and Craig Henderson Editor: Jess Quayle(This programme was first broadcast at 3pm on Wednesday the 23rd of October 2024)

Transcribed - Published: 20 November 2024

It was a big week for carers as the Government announced an independent review into Carer's Allowance overpayments after families were told to pay back thousands of pounds, often pushing them into debt.The review will look at what happened, but in the meantime the Department for Work and Pensions has told Money Box it will continue to collect almost quarter of a billion pounds it says it's owed from more than a hundred thousand carers. We hear from Karina who cares for her 22-year-old daughter and ended up in £11,000 worth of debt. The DWP said it is committed to working with anyone struggling with repayment terms.A major investment firm has said it will review its Child Trust Fund accounts after Money Box revealed one young man's £250 investment had all but disappeared when he claimed it at 18 due to high administration charges.In the run up to the Chancellor's budget we look at fuel duty and whether the 5p cut could be scrapped. And beware the thieves pretending to offer a solution to lost Winter Fuel Payments. Presenter: Paul Lewis Reporters: Dan Whitworth and Emma Smith Researcher: Jo Krasner Editor: Sarah Rogers

Transcribed - Published: 16 November 2024

Each year it’s estimated that £23 billion worth of help and support – from housing benefits to pension credit – goes unclaimed according to Policy in Practice. We look at the kind of help that is available, and hear from listeners on their experiences trying to claim the benefits they’re entitled to, as well as who might be able to get money off their childcare or broadband bills.Presenter Felicity Hannah is joined by a panel of experts who answer your questions on how to make the best of the available support: Rachael Walker, research and policy director at Policy In Practice; Sam Hubbard, Head of Core Services at Citizens Advice in Staffordshire North and Stoke On Trent and David Samson, a benefits expert at Turn2Us.And we hear from a range of people with their own experiences of trying to secure benefits – sometimes during life-changing moments. Gary from Lincolnshire tells us how he had to become a carer for his poorly wife. But during a difficult journey to obtain benefits, it was only by chance that he discovered certain types of support he was entitled to. Meanwhile, Esther from London tells us how she wasn’t aware she could be entitled to a carer’s allowance for her children – two of whom have complex needs . Presenter: Felicity Hannah Producer: Craig Henderson Editor: Sarah Rogers(This episode was first broadcast on Wednesday 16th October 2024).

Transcribed - Published: 13 November 2024

The Government is writing to 120,000 people aged 66 or more encouraging them to claim the means-tested benefit pension credit, which will also entitle them to the winter fuel payment. The letters will go out from next month to people the Department for Work and Pensions has identified as likely to be entitled following a targeted trial scheme last year.Also on the programme, a leading debt charity calls for the way council tax debt is collected to be reformed, and why do millions of renters not insure their belongings?Presenter: Paul Lewis Reporters: Dan Whitworth and Emma Smith Researcher: Jo Krasner Editor: Sarah Rogers(First broadcast 12pm Saturday 12th October 2024)

Transcribed - Published: 9 November 2024

Buying a home is legendarily one of the most stressful events in life so today on Money Box Live we're going to try to take some of the pressure off by talking you through how it should work.Obviously there's much more to it than finding your dream house and a lot that can happen between viewing a property and getting the keys.We talk to first-time buyers on the property hunt in Stockport in Greater Manchester, and our panel of experts, Simon Gammon, Head of Finance at Knight Frank and Beth Rudolf from the Conveyancing Association joins Felicity Hannah to take questions from listeners.Presenter: Felicity Hannah Producer: Craig Henderson/Sarah Rogers Editor: Sarah RogersThis episode was first broadcast on Weds 9th October 2024.

Transcribed - Published: 6 November 2024

In a special programme broadcast live from the Atrium in Quay House at MediaCityUK, Paul Lewis discusses a momentous change in the way banks treat customers who have money stolen from their bank accounts by what is called Authorised Push Payment Fraud. In 2023 a record number of people lost hundreds of millions of pounds to thieves who tricked them, manipulated them and then drained their bank accounts.On October 7th new rules will come into force which mean nearly all transfers will be covered, so that victims will be refunded in the vast majority of cases up to a limit of £85,000.Money Box gets hundreds of emails from people who've lost money to scams and frauds and this will be life changing for those who find themselves a victim of this kind of crime. To mark this change, the team will be joined by a panel of experts and people who've lost thousands of pounds in these sort of scams. Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Catherine Lund and Jo Krasner Studio Producer: Sarah Rogers Studio Managers: Pete Smith, Matthew Dempsey and Cameron Ward Editor: Jess Quayle(First broadcast 12pm Saturday 5th October 2024)

Transcribed - Published: 2 November 2024

This month the new government will reveal its plans for the nation's finances in the Budget.We've been told 'difficult decisions' lie ahead as the Chancellor Rachel Reeves seeks to plug what she says is a £22bn black hole left by the previous government.There's been plenty of speculation around Capital Gains Tax, Inheritance Tax and pensions tax relief - but what are they and who pays them?Our email inbox has been full of questions from listeners - so on this weeks Money Box Live we will be answering as many as we can.Felicity Hannah is joined by Elsa Littlewood, Tax partner at accountancy and business advisory firm BDO and Kirsty Stone a financial planner at The Private Office.We also have a new way to get in touch, WhatsApp Money Box on 03306 783183.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast on Wednesday the 2nd of October 2024)

Transcribed - Published: 30 October 2024

A new report given exclusively to Money Box is calling for more help for working families on Universal Credit. The University of Bath’s Institute for Policy Research wants the government to raise earning thresholds for extra help like free school meals, NHS prescriptions, council tax support and NHS dental help. The government says it's committed to supporting low-income families by extending the Household Support Fund by £421 million. It also told us its commitment to reviewing Universal Credit so people receive the support they need, saying it is taking "bold action" to help people into work so they can gain financial independence and break down the barriers to opportunity.Banking Hubs should start offering more help for customers with advice on scams, getting online and creating Power of Attorneys according to the former chair of the watchdog, the Financial Conduct Authority. Charles Randell, who’s now a member of the Financial Inclusion Committee, says banks need to invest more in the hubs as bank branch closures continue to hit communities with more than 6,000 having closed since 2015. UK Finance, which represents banks, says significant ongoing investment is being made to support customers with access to cash and day to day banking needs.What changes could the Chancellor make to ISAs and Dividends in her October Budget?And energy prices go up next week - what does it mean for you and how does it work?Presenter: Paul Lewis Reporters: Dan Whitworth and Catherine Lund Researchers: Emma Smith and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 28th September 2024)

Transcribed - Published: 26 October 2024

Across the UK freshers are heading off to university, many leaving home for the first time and most of them are paying for at least some of that with their student loans. Graduates in England leave university with average debts of around £48,500 according to the Student Loans Company.Tuition fees vary depending on where you live in the UK. Last year students in England were told they'd be paying back their loans longer than the graduates who came before them.So, this week we're looking at how much a degree really costs. Felicity Hannah will be joined by Tom Allingham from Save the Student and Kellie McAlonan, Chair of the charity the National Association of Student Money Advisers.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast 3pm on Wednesday 25th September 2024)

Transcribed - Published: 23 October 2024

People are missing out on nearly two billion pounds' worth of discounts on water bills and broadband, according to Citizen's Advice. Social tariffs give lower prices to people on low incomes, but the charity says there's a "postcode lottery" when it comes to what people can get. The government says more than 1.3 million households in England and Wales benefitted from £200m worth of help with water bills in 2022/23 and that it's working with broadband providers to raise awareness of social tariffs. Industry groups say many customers choose low-cost broadband over social tariffs and the number of households getting help paying for water should double by 2030. How might the Chancellor change tax relief on pensions in the upcoming budget?More than 11 million people used Open Banking in July - that figure was up by 12 percent on the month before. We'll discuss how it works.And, have you been affected by a scam? Ahead of a special programme on October 5th we'd like to know your experiences - email [email protected]: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Emma Smith Editor: Jess Quayle(First broadcast 12pm Saturday 21st September 2024)

Transcribed - Published: 19 October 2024

There are nearly 70,000 children in the UK who are in foster care. Foster carers main concern has to be the children they look after, including many who have experienced neglect and trauma. But they are self-employed, so there are also financial considerations, from allowances and fees, to tax returns and receipts. In this programme we'll hear from charities, foster carers and care leavers. We'll also discuss new analysis from the Fostering Network, which found foster carers face a post code lottery when it comes to fees they’re paid. Foster carers are given an allowance to pay for clothes and food - but they're also usually paid extra on top to recognise their time and skills. Those fees aren't fixed though, and local authorities can each individually decide how much to award.Using freedom of information requests the charity found 60% of local authorities across the UK are paying foster carers the equivalent of less than £5 an hour based on a 40 hour week. Local Authorities are given funding from central government and the devolved nations – the told us they are reviewing support for foster carers. Felicity Hannah, is joined by Sarah Thomas, Chief Executive of The Fostering Network and Brenda Farrell, Head of Fostering at Barnardo's.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast at 3pm on Weds 18th Sept 2024).

Transcribed - Published: 16 October 2024

Hundreds of thousands of disabled pensioners will be unfairly impacted by the cut in Winter Fuel Payment, according to two leading charities who've spoken exclusively to Money Box. Disability Rights UK and Age UK have both told us that disabled pensioners often have higher energy bills because of medical needs and sharp cuts to the number of people receiving the payment will disproportionally affect them more than others. The government says it's committed to giving pensioners the dignity and security they deserve in retirement but says given the state of the public finances its inherited it’s right that it targets support to those who need it most. It says its protecting disabled pensioners through extra disability benefits such as Attendance Allowance, Disability Living Allowance and Personal Independence Payments. And that over a million pensioners will also continue to receive the Winter Fuel Payment and those on the full new State Pension will receive over £400 boost through the triple lock. How might the Chancellor target Inheritance Tax in the upcoming Budget? Latest figures show that the government received a record £7.7 billion from IHT in the 12 months to July, up over 5% on a year before. And, what can be done to encourage self-employed people to pay into a pension? Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Catherine Lund and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 14th September 2024)

Transcribed - Published: 12 October 2024

Figures given exclusively to Money Box Live show that almost two-thirds of people who called the National Gambling Helpline had gambling related debt. So what are the options and what support is available? This week Felicity Hannah speaks to those affected by gambling, either themselves or through a family member. Joining her to talk about it are Nicholas Hill from the Money and Pensions Service which is sponsored by the Department for Work and Pensions and Raminta Diliso Head of Gambling Related Financial Harm at the Charity GamCare which is in part funded by the gambling industry.If you've been affected by addiction - help is available at bbc.co.uk/actionline.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(First broadcast 3pm on Wednesday 11th September 2024)

Transcribed - Published: 9 October 2024