Money Box

Confirmation of payee is a fraud prevention system which would allow banks and customers to check names alongside account and sort code details to ensure that transferred money goes to the right person. The Payment Systems Regulator wanted it to start in July. This week UK Finance, which represents banks, said it needed a delay until "some time next year." Guest Gareth Shaw, Head of Money, Which?Money Box reporter Dan Whitworth takes a forensic look at the accounts of companies linked to London Capital and Finance plc. The company is in administration, leaving 11,000 investors worried about what's happened to their cash. Guest Roger Isaacs, Forensic Partner at Milsted LangdonMegan Jarvie, Head of Coram Family and Childcare discusses the latest figures for tax-free childcare which show that 91,000 families used it for 109,000 children. Figures released this week revealed that 10 million people are now saving into a workplace pension. Some of those workers are non-tax payers and have been placed by employers in net pay arrangement schemes where pension contributions are collected before income tax. It means they don't get the tax relief on their pension contributions that they would get if they were in another scheme known as a relief at source, where contributions are collected after income tax. Guest: Meredith McCammond, Technical Officer for the Low Incomes Tax Reform Group.Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Charmaine Cozier Editor: Richard Vadon

So where are we with the promised Open Banking revolution?A little over a year ago we were teetering on the edge of radical reform after new rules meant that customers could give permission for their bank to share details of their current account with other banks and regulated companies. The plan was that by studying your spending and income details firms will be able to offer you financial products, give you a credit rating, or suggest ways to save money. What are you experiences? From 1pm on Wednesday 13th February you can call 03 700 100 444 or email anytime: [email protected] Paul Lewis on the panel this week: Imran Gulamhuseinwala, Implementation Trustee for Open Banking Ltd Pamela Meadows, payments expert from the Financial Services Consumer Panel. Freddy Kelly, founder Credit Kudos.Presenter: Paul Lewis Producer: Alex Lewis Editor: Jasper Corbett

From April millions of households on default energy tariffs and who have not switched suppliers will see a rise in their bills after regulator Ofgem raised caps for gas and electricity. The first cap was introduced in January as a measure to ensure customers paid fairer prices. Guest Jo Butlin, Chief Executive of EnergyBridge Consulting and an expert in how the energy industry works in the UK.This week the Housing, Communities and Local Government Select Committee held its final evidence session on leasehold reform. Founder and Chief Executive of the HomeOwners Alliance Paula Higgins debates the issues with David O'Leary, Policy Director with the Home Builders Federation.What happens to state and private pensions post-Brexit? James Walsh, from the Pensions and Lifetime Savings Association, where he focuses on the EU, guides us through what's certain and what's uncertain.There are now more mortgage products than ever before for older borrowers, what’s attracting lenders to them? Guest: Darren Cook, Mortgage Analytics Manager at moneyfacts.co.ukPresenter: Paul Lewis Producer: Charmaine Cozier Editor: Richard Vadon

How would you like to receive a set income from the state without conditions?It's an idea which is gaining world wide attention with pilot schemes in Finland, Canada and Spain to name a few. In Scotland ministers have awarded funding to four local authorities to undertake feasibility studies with a view to holding a pilot. Adam Shaw and a guest panel discuss the theory behind the idea and examine how if it could ever work in practice.How have the trials worked in different countries? Is a universal basic income a useful way of thinking about wealth redistribution or is it just an unaffordable utopian dream? From 1pm Wednesday 6th February you can call us on 03 700 100 444 or email us at any time: [email protected] Adam on the panel: Jamie Cooke, Head of Royal Society for the encouragement of Arts, Manufactures and Commerce Scotland Dr Louise Haagh, author of The Case for Universal Basic Income and a Reader in Politics at the University of York Dr Luke Martinelli, the main researcher on the Institute for Policy Research’s basic income research project at Bath UniversityProducer: Linda Walker Presenter: Adam Shaw Editor: Jasper Corbett

A firm which raised more than £200m from 14,000 investors has gone into administration. London Capital & Finance Plc (LCF) issued mini-bonds which promoted returns of 8 percent and higher. The Financial Conduct Authority was already investigating, last December it froze the assets of the firm. It also directed LCF to pull its "promotional material on the basis that the way in which it was marketing bonds was misleading, not fair and unclear." The FCA also expressed concerns that "LCF bonds were being marketed as ISA eligible when they were not." Guest: Finbarr O'Connell, one of the administrators of London Capital & Finance Plc.Tougher fraud prevention measures have seen some websites asking online shoppers to verify their identities by entering a six digit number, sent to them by text, before the transaction can continue. What if you live somewhere without a mobile signal? Guest: James Daley, Managing Director and Founder, Fairer Finance. We hear from the Money Box listener who's paying hundreds of pounds a year in fee charges for a SIPP investment that’s been valued at £1. Guest: Adam Samuel, financial services compliance specialist. Child Trust Funds were set up for babies born between 1 September 2002 and 2 January 2011 to encourage regular, long-term saving habits. Families received starter vouchers of £250 or £500 to open fund accounts. If, after the first year, they hadn’t, HMRC did it and sent families details of their provider. In many of those cases families failed to contact providers and forgot about the accounts. The first wave of children are turning 16 when they can take control of managing accounts ahead of being able to make withdrawals at 18. How can a lost account be found? Guest: Carol Knight, Chief Operating Officer TISA.

According to the Association of British Insurers, average motor insurance premiums dropped by 1% last year. But the experiences of many Money Box listeners tell a different story.Louise Cooper and panel discuss why the cost of car insurance is so high. How do insurers work your premium out? Is it ever a good idea to stick with your existing provider? And how common is it for young people to pay more for their insurance than the cost of their vehicle?From 1pm Wednesday 30th January you can call us on 03 700 100 444 or email us at any time: [email protected] Louise on the panel: David Williams - Technical Director at AXA Insurance Amanda Stretton - Motoring Editor, Confused.com Neil Hart - Client Services Director at Consumer IntelligenceProducer: Alex Lewis + Linda Walker Editor: John Murphy

Administrators have been appointed to the Dream Lodge Group leaving people, some of whom invested hundreds of thousands of pounds in the luxury holiday park lodge business, at risk of losing most if not all of their money. In return for their cash they were promised an 8% return on their investment plus a guaranteed buy back of their capital. In a statement to Money Box administrators Deloitte said "The best outcome for everyone would still be a sale of the business and we will formally report our progress on that and any other matters in our creditors report in mid-March. We appreciate this will be a difficult time for many people affected by the administration of the business.” What are the signs that an investment opportunity is too good to be true? Guest: Farhaz Khan, Secretary of the Financial Services Lawyers Association. The European Health Insurance Card, or EHIC, gives people from the UK the right to access state provided emergency care while temporarily staying in another European Economic Area country or Switzerland for free or for a reduced cost. Tamara Hervey, Professor of EU Law at the University of Sheffield explains what happens to the EHIC post-Brexit.The cash machine network Link will pay a 'super premium' to ATM operators in certain remote areas from April. It hopes the subsidy of up to £2.75 per withdrawal will keep machines free to use. Guest John Howells, CEO of Link. If you’ve signed up with a credit rating agency to get alerts whenever your file is accessed, what can you do if you discover a company you've never heard of has searched your details? Guest Lisa Hardstaff, Head of Customer Experience at Equifax.Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Charmaine Cozier Editor: Richard Vadon

Private parking firms are issuing penalties to drivers at the rate of one every five seconds. That's a 20% increase compared to last year. Council income from parking penalties has never been higher. So why this increase? Every motorist has a parking ticket story. So what's yours?Email us [email protected] or call us from 1300 on 23rd January: 03 700 100 444, geographic charges from landlines and mobiles apply. Presenter: Louise Cooper Producer: Alex Lewis and Linda Walker Editor: John Murphy

New rules are set to change access to pension credit. At the moment the benefit can be claimed to top up income when the older partner in a couple reaches the qualifying state pension age. From May 15th it will switch to when the younger person in the relationship qualifies. Pensioners with younger partners who are already on pension credit or pension-age Housing Benefit will not be affected by the change while their entitlement remains. The announcement was made via a written statement by pensions minister Guy Opperman which was published on Monday. Guest: Gareth Morgan CEO of Ferret Information Systems. Money Box listeners who took out student loans in the 1990s have received letters offering to settle the debt if they agree to pay a percentage of their outstanding amount. Some of these former students are approaching the point where their loans will be written off anyway. Guest: Martin Lewis, Founder and Chair MoneySavingExpert.comSorting out a £51 tax refund ended up costing one man £137 after he searched online and dialled a number listed on an official looking website which he thought belonged to HMRC. It wasn’t and the line he called which connected him to HMRC was a premium rate one. Guest: David Hickson of the Fair Telecoms campaign.Reporter: Dan Whitworth Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Richard Vadon

A New Year, a new you!Many of us have committed to eat better and get fitter. But just as popular is to save more. We want to know how you have resolved to improve YOUR personal finances. Email us: [email protected] or call us from 1300 on 16th January on 03 700 100 444, geographic charges from landlines and mobiles apply. Let us know how you're doing.Presenter: Louise Cooper Producer: Alex Lewis Editor: John Murphy

Two banks have taken the unusual step of refunding a fraud victim all her money. With new rules for banks on this issue coming into force soon, is this a sign of things to come and are more victims likely to benefit? We hear from bank fraud consultant, Richard Emery, of 4 Keys international. Economy Energy has become the ninth energy supply company to go bust in the last year. 235,000 customers are now being told to sit tight while Ofgem appoints a new supplier, but has the regulator opened up the market too much? We speak to one of its executive directors, Mary Starks. And with Universal Credit complicating who does and doesn’t get free prescriptions in England, hundreds of thousands of people are being wrongly fined for not paying the £8.80 fee. We find out what it means for claimants and pharmacists and speak to Sandra Gidley, from the Royal Pharmaceutical Society.Presenter: Paul Lewis Producer: Sally Abrahams Editor: Richard Vadon

Is it time to turn to the small claims court? It’s only 9 days into the New Year and your relaxed demeanour may have already waned. Especially if faced with a mountain of Christmas presents that never worked and a feeling of resentment about the botched boiler repair.Help is at hand in the form of the small claims court – a low cost way for you to claim what you feel you are owed by an individual or small business, providing it's not more than £10,000.In the past year a little over 2 million claims were raised in England and Wales, 39,000 of them via the Government's newly launched online service. They boast that the fastest claim was lodged and paid in under two hours.Today our panel discusses the effectiveness of the system for getting you your money back:. Helen Dewdney aka The Complaining Cow and consumer champion Benjamyn Damazar, regular user of the small claims court process Stephen Gerlis, retired district court judge.Presenter: Paul Lewis Producer: Alex Lewis Editor: John Murphy

Have you had an accident in the last 5 years - even if it wasn't your fault? Ticking that box on a car insurance application can be very costly - even if you weren't to blame. Money Box reporter Dan Whitworth has been investigating why.Around 14,000 investors who put their money into a mini-bond sold by London Capital & Finance are in limbo this week after the Financial Conduct Authority froze the firms assets and banned it from advertising or selling the product. What does this mean for people with money invested?The Chinese economy is flagging after decades of expansion and the latest Bank of England figures show a fall in UK consumer lending. Will 2019 see our personal finances coming under an increasing squeeze?And as the currently un-named Government backed 'Single Financial Guidance Body' comes into being - taking on the roles of The Pensions Advisory Service, Pension Wise and Money Advice Service - we mull over suggestions for what it could be called...Presenter: Paul Lewis Producer: Alex Lewis Editor: Richard Vadon

In August, Jessica Hurst wrote to the media asking them to investigate how her dad’s debts of just under £12,000 became a bill of just under £73,000. Nigel Hurst killed himself eighteen months ago after learning that bailiffs were to repossess his family home. It was the bailiff who found him. Student, Jessica, was left with a pile of debt recovery letters and bank statements which she hoped would hold the clue to his financial troubles. After an old school friend offered legal advice, Jessica has persuaded the creditors to reduce their demands back to a manageable level. How did they do that? And what did they learn in going through the process? Helen Grady - who reported on the case for File on 4 - asks Jessica about the response to the programme. If you've been affected by the issues raised in this programme and would like details of organisations which offer advice and support, you can visit BBC Action Line or you can call for free, at any time, to hear recorded information 0800 066 066You can also get help from … https://www.samaritans.org/ https://www.nhs.uk/conditions/suicide/Presenter: Helen Grady Producer: David Lewis Editor: Andrew Smith

More than 2000 steel workers - many of them in the Welsh steel town of Port Talbot - were persuaded to transfer out of their final salary pension scheme. Many now deeply regret their decision, and believe they were mis-advised by"sharks" who descended on the town to take advantage of a period of confusion. Tony Bonsignore hears how the men's lives have been affected, what lessons have been learnt, and whether enough has been done to stop something similar happening again.Presenter: Tony Bonsignore Producer: Alex Lewis Editor: Richard Vadon

Steven Long, the founder of the collapsed inheritance planning firm, Universal Wealth Preservation, has been jailed for eight months for failing to disclose the whereabouts of his clients' money. It's now emerged that at least twenty-five million pounds has gone missing. Money Box hears from Shivani Varma, the solicitor acting for around 30 claimants who have lost millions of pounds and talks to one client who attended the High Court hearing about what it was like when the prison sentence was handed down. Overdraft charges: The Financial Conduct Authority announced major changes this week to how banks charge us for accidentally slipping into the red. It wants to stop firms charging higher prices when customers use an unarranged overdraft and bring an end to fixed daily and monthly fees. Instead the banks will have to charge customers one simple rate of interest on the money owed. But, given that overdraft charges bring in around £4.2 billion a year for the banks, how will they recoup those lost monies? Professor Peter Hahn of the London Institute of Banking and Finance gives his assessment of the planned changes.Are you going bust? To be blunt, no! That was the first of eight questions in a Q&A sent out this week by the energy supplier, Outfox the Market, to its 100,000 customers. So many of them have been contacting the firm that the energy regulator Ofgem tweeted this week that it was in "active discussions with the supplier regarding their customer service issues". Money Box hears from one frustrated Outfox customer about the problems he's been having trying to contact the firm to get back £500 credit he's due and we hear from energy analyst, Ellen Fraser of Baringa on this latest development.Down down down. That was share prices in London and indeed in much of the world in the last full trading week of the year. And it matters to most of us as our pensions and ISAs will be affected. Share prices are normally measured by the FTSE100 index - the average of the shares in the hundred biggest companies on the London Stock Exchange. It ended the week 12% down on a year ago. and nearly a third less than its value at the start of this century. So is investment bust? Paul Lewis talks to Russ Mould, Investment Director at stockbrokers A J Bell.Image: Steven Long, Founder, Universal Wealth Preservation, Credit: Paul KeoghPresenter: Paul Lewis Producer: Sally Abrahams Editor: Richard Vadon

More than 45% of UK households keep a pet. It's estimated that we spend almost £4.5 billion a year on them. Yet research suggests we underestimate what it costs to keep them.

You may not have heard of some of them; transaction charges, custody charges, collateral management costs, but these hidden pensions costs can have a real effect on your savings over the years.It's been estimated that charges - including a notional 1% which are hidden - could destroy a quarter of the value of a pension over 30 years. Why, when they matter so much, is it so hard to get the full picture and what can you do about it?Share your experience. Call us on 03700 100 444, email [email protected] or tweet @moneybox. Lines open from 1pm on Wednesday 12 December. You can also email [email protected] or tweet @moneyboxPanel guests: Chris Sier, academic and transparency campaigner Michelle Cracknell, The Pensions Advisory Service Jeff Houston, Secretary of the Advisory Board to the Local Govt Pension schemePresenter: Lesley Curwen Producer: Alex Lewis Editor: John Murphy

In March of this year Money Box listener Nicola's financial adviser made his first attempt to move her investment fund, valued at £40,000, from Aegon to another provider. Nine months later, despite making a formal complaint and taking their case to the Financial Services Ombudsman, the money has yet to arrive. To date Aegon has offered Nicola £100 which it increased this week to £500, as an apology "for the unacceptable delays she has faced in the transfer of her funds." Guest: Nicola's independent financial adviser, Iain Forrest, Director of Forrest Financial Management and we also hear from the Financial Ombudsman Service. Dan Whitworth reports on a HMRC VAT exemption rule clarification which recently came into force and has resulted in some people seeing a sudden increase in their property management company service charge. The clarification is intended to make it clear that third parties such as property management companies are subject to VAT. Some of these companies have started to pass the cost on. Guest: Alan Pearce, VAT Partner, Blick Rothenberg. A pensions dashboard which will allow people to see their scheme details, old and new, big and small, in one place, online, for the first time is due to go live next year. However the first version won't contain state pension details and once it’s up and running pension providers will be able to offer their own commercial dashboards. Guest Sir Steve Webb, Director, Royal London and former pensions minister.Presenter: Adam Shaw Reporter: Dan Whitworth Producer: Charmaine Cozier Editor: Richard Vadon

The competition regulator has stepped up its investigation into the £2 billion a year funerals market, after finding prices have risen above inflation for over a decade.

Infertility affects one in seven couples. Many people seek medical treatment to help them conceive. Some fertility treatment is available on the NHS, but the majority of couples go privately and pay for it themselves. It can be incredibly expensive, costing tens of thousands of pounds.Money Box Live is looking at the costs involved in fertility treatments. If this has affected you or your loved ones, or you have a question you'd like answered, presenter Louise Cooper and an expert panel want to hear from you. So why not call Money Box Live now 03 700 100 444, geographic charges from landlines and mobiles apply.Or email [email protected] tweet @moneyboxGuestsPeter Thompson, Chief Executive of the Human Fertilisation and Embryology Authority, the UK's independent regulator of fertility treatment. Aileen Feeney from the the charity, Fertility Network UKDr Raj Mathur, Senior fertility Consultant, working in both the NHS and a private clinic.

Money Box reporter Dan Whitworth investigates complaints from customers of a small energy supplier, Outfox the Market, who suddenly found themselves facing huge increases to their direct debit payments. Outfox the Market emailed Anna and her husband Rob to say their direct debit amounts would be split, meaning they would pay much more during winter and less in summer. The couple are already around £200 in credit on their account so they decided to switch supplier. Outfox the Market say the direct debit change would average out over the year. Following its administration deal with its lenders the pension fund of news publisher Johnston Press is being placed under Pension Protection Fund (PPF) rules. What happens if your pension passes to the PPF? Guest: Hilary Salt, Founder First Actuarial.We hear from the man who ended up being reported to the police for fraud by his insurer after making a stolen jewellery claim following a burglary. Neil McFarlane, Group CEO with the specialist jewellery insurance broker T.H. March outlines what you should consider when insuring gems, rings and watches at home. Reporter: Dan Whitworth Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Richard Vadon

The way we work is changing. By 2025, only 13% of people believe they will be working in traditional 9-5 employment.For the last 15+ years the number of self-employed workers has been increasing - tripling for the over 65's and doubling for the 16-24's whether it be as a sole trader or on zero hours or as part of the 'gig' economy. And that doesn't account for the rise of people on short term contracts with little or no job security.So in this brave new world of employment, how has the financial services industry responded? What can you do about your pension, insurance or getting a mortgage if you no longer have a career in one company but move from job to job?Your experiences and stories please: 03700 100 444. Lines open from 1pm on Wednesday 21`November. You can email [email protected] or tweet @moneyboxPresenter: Adam Shaw Producer: Alex Lewis

This week the government's publication of its draft Brexit Withdrawal Agreement was followed by the cabinet resignations of Dominic Raab and Esther McVey. The financial markets responded with a sharp drop in the pound before it stabilised and a fall in the share price of UK focused companies. Guest: Tom Stevenson Investment Director at Fidelity Worldwide Investments.Some of the biggest clothing retailers are being warned they could be encouraging young shoppers to get into problem debt. Major sports and fashion names are using a new type of “try before you buy” service from the Swedish bank Klarna for online orders. Guest Moira O'Neill, head of personal finance at Interactive Investor. A childminder reveals how problems with the government's tax-free childcare system are impacting on her business. Earlier this month around 22,000 standing order payments from parents to childcare providers were delayed. HMRC have apologised and say it was an isolated issue which has been fixed. Guest: Aoife Hamilton, Policy and Information Manager at Employers for Childcare. Until now Starling Bank services could only be accessed via a smartphone app. That changed this week after it joined a partnership which allows its customers to deposit and withdraw cash at Post Office branches. Is this a step backwards for digital banking? Guest: Anne Boden CEO and founder, Starling Bank.Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Charmaine Cozier Editor: Richard Vadon

What’s your experience of the biggest change ever made to the benefits system? Universal Credit - which is being gradually introduced across the UK - is supposed to make things simpler, by merging six benefits into one single payment. But it's been plagued by controversy, especially over delays in paying claimants, causing severe hardship in some cases. In Budget 2018, the Chancellor introduced new measures designed to improve the system. These include increasing the amount of money people can earn before their benefits are reduced and allowing two weeks extra benefits for those moving from the old system to the new. But will it be enough to solve the problems? How might this extra help benefit you? If you have been affected by Universal Credit, do share your story by calling 03700 100 444. Lines open from 1pm on Wednesday 14 November. You can email [email protected] or tweet @moneyboxGuests: Sarah Hayle, Welfare rights adviser, Community Law Service, Northampton and County Angela Marke, Head of Advice Quality, Advising Communities David Samson, welfare benefits specialist, Turn2Us Presenter: Paul Lewis Producer: Sally Abrahams

Tens of thousands of free educational books about personal finance are being sent to every secondary school in England. For free. Funded by money saving expert Martin Lewis, written by Young Money and supported by the Government, it 's the UK's first ever financial education textbook.The Government’s announced its second attempt to try to increase probate fees, this time from just a few hundred to thousands of pounds for some. We’ll find out what’s behind the move, if it’s likely to get through Parliament and explain why critics say the move is not legal.This week saw state pension age equalise. Many women are not happy. We speak to someone who reached state pension age before 65 but is receiving much less than a man the same age because she qualified when the previous, lower state pension was in force. These women have not been entitled to free bus passes, tv licences and the winter fuel allowance 2 to 4 years sooner than men of the same age as mentioned in the piece. Winter Fuel Allowance is linked to women’s state pension age for both women and men (now the common state pension age) which is also true of almost all free bus travel in England. In Wales, Scotland and Northern Ireland men and women get free bus travel from 60. Currently everyone is currently entitled to a free TV licence from 75.‘Why aren’t my auto-enrolment pension pots consolidated?’ We hear from a listener who wants to know why his pensions aren’t merged automatically.Presenter: Paul Lewis Producer: Alex Lewis Reporter: Dan Lewis Editor: Richard Lewis

A big change to the UK's tax system starts next April, but are firms ready to comply?In barely five months' time, every business which is above the threshold for VAT must ditch paper-based record-keeping and get new approved software instead. The new rules are part of Making Tax Digital - and make it compulsory for them to keep electronic records of VAT and file returns to the Revenue directly from accounting software. It will apply to small businesses and sole traders if they are VAT-registered and have a turnover - not a profit, a turnover - of £85,000 a year or more. But accountants are worried that many businesses don't know anything about the changes. And there's concern about how much the new software will cost. If you're affected by the new rules or think you might be, get in touch. Call 03700 100 444. Lines are open from 1pm on Wednesday 24 October. Or email [email protected] or tweet @moneyboxGuests: Anita Monteith, Tax Manager, Institute of Chartered Accountants in England and Wales Elaine Clark, Managing Director, Cheap Accounting Andy Chamberlain, Deputy Director of Policy, IPSE (the Association of Independent Professionals and the Self-Employed) Presenter: Paul Lewis Producer: Sally Abrahams

If you're thinking of buying a new greener motor car you might want to hurry up. In less than three weeks' time government subsidies on more environmentally friendly vehicles, worth thousands of pounds, are going to be cut or disappear altogether.Pay.UK have just released plans for banks to introduce confirmation payee in 2019 to help cut bank fraud. What's taken so long?New figures out this week show that hard work in fact pays rather less well than it did four years ago - at least for people whose low wages are topped up by benefits. This week's inflation figure for September confirmed just how much worse off many people on benefits are. High house prices make it incredibly hard, particularly for young people, to get on the property ladder. We report on a small but growing trend for people to buy their first home -- with someone other than a relative or a partner. Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Alex Lewis Editor: Richard Vadon

How can you legally reduce the inheritance tax your loved ones have to pay when you die? If you have accumulated substantial wealth during your life, inheritance tax can cost family and friends hundreds of thousands of pounds after your death. But there are legal ways to avoid being hit with a hefty IHT bill. Whether by donating to charity or giving away cash from surplus income, you can reduce the amount of inheritance tax due on your property, savings and other assets. But how does inheritance tax work and who is liable to pay it? What must your estate be worth before the 40% charge kicks in? And if you're married or in a civil partnership, what are the rules? £5.2 billion of IHT was paid last year, a record high. And yet, it’s still only a relatively small number of people whose estates are liable to so-called death duties. But many feel they’ve spent a lifetime earning the money and want to pass on as much as they can to their nearest and dearest. So how do you ensure you don’t pay unnecessary amounts of Inheritance Tax? Adam Shaw and guests will be taking your questions and comments. To join in the conversation, email [email protected], Tweet @moneybox or call the programme on 03 700 100 444 - lines are open from 1pm on Wednesday 3 October.Guests: Claire Walsh, Chartered Financial Planner and Personal Finance Director, Schroders Nicola Plant, Partner, Thomson Snell & Passmore SolicitorsPresenter: Adam Shaw Producer: Sally Abrahams

If you haven't switched energy suppliers in recent years, what does the energy price cap mean for you? The regulator, Ofgem, has announced plans to prevent gas and electricity companies charging a typical household more than £1,136 a year, saving households £75 a year, on average. But will it mean companies stop offering some of their cheapest deals currently on the market? And will consumers be lulled into thinking they don't need to shop around and look for better deals? But how to switch and save? Its not always straightforward. Louise Cooper and guests take your energy questions.Guests: Audrey Gallagher, Director of Policy, Energy UK Gillian Cooper, Head of Retail Energy Markets, Citizens Advice Joe Malinowski, founder, price comparison website theenergyshop.comPresenter: Louise Cooper Producer: Sally Abrahams.

A study by the Resolution Foundation thinktank has found that the vast majority of people experience significant monthly wage volatility at least twice a year. Almost half see significant changes half of the year. The study used anonymised data from 7 million Lloyds bank accounts. It's the first time that actual data has been used to look at monthly earnings. Official figures which show adequate income over the year may therefore hide serious problems in a number of specific months. We speak to the study's author Daniel Tomlinson.An end to letting fees charged to tenants is now in sight. The Tenants' Fees Bill has just had it's third and final reading in the House of Commons and is set to become law soon. It means that 'Administrative fees', 'credit check fees', 'tenancy renewal fees' and others will all be consigned to the dustbin saving tenants an estimated £240m. In Wales a similar law is expected to be in place next year and in Scotland letting fees have been banned since 2012.With RBS announcing more bank closures this week, we investigate one solution adopted by a small community when 3 out of 4 banks closed their doors. Almost a year ago Holywell in North Wales encouraged its shopkeepers to adopt a mobile card payment system instead of using cash to help bolster their economy. We find out how they have got on.And as hundreds of thousands of young people head off to university in the next few weeks we look at the student bank accounts on offer. Should you take the free rail card, the gift voucher or the free overdraft?Presenter: Adam Shaw Producer: Alex Lewis Editor: Charlotte McDonald.

The future of motoring looks set to be increasingly electric with the Government committed to ban the sale of petrol and diesel cars by 2040. That commitment was strengthened this month with the unveiling of a new Road to Zero strategy aimed at boosting the country's electric vehicle infrastructure with proposals including fitting chargers in new developments, offices and even lampposts. But how does buying and running an electric car compare to petrol and diesel and what might you have to consider when making the switch? Electricity can certainly be cheaper than traditional fuels but how do you navigate the range of charging options available? There're also a number of Government grants to consider- what's on offer and how can you apply?Joining Paul Lewis are Consumer Editor at What Car?, Claire Evans, Head of Go Ultra Low, Poppy Welch and Director of Zap Map, Melanie Shufflebotham. Email your questions to [email protected] or you can call 03700 100 444 between 1pm and 3.30pm on Wednesday 25th July 2018. Standard geographic charges from landlines and mobiles will apply.Presenter: Paul Lewis Producer: Tom Hill Editor: Charlotte McDonald.

Three years ago pension freedoms were introduced, allowing millions of people to transfer out of their Defined Benefit schemes and cash in their savings. The appetite for transferring appears to have grown since then - a total of more than £34bn being moved around in the last calendar year, according to the most recent figures from the Office for National Statistics. So why would you want to give one up? The high transfer values is one reason - a pension of £10,000 could translate to a cash sum in the hundreds of thousands of pounds. But going down this route is not the right choice for every member of a Defined Benefit pension scheme. There have been concerns raised by regulators that unscrupulous financial advisors have been swooping in on members of these schemes, enticing them out of their pensions when that may not be the right move for them. A case in point was for workers at British Steel. To talk about the pros and cons of transferring out of a safeguarded pension scheme, Paul Lewis will be joined by a panel of guests: Ros Altmann, former pensions minister Melinda Riley, Head of Policy and Technical at The Pensions Advisory Service Claire Walsh, Independent Financial Advisor James Baxter, Managing Director at Tideway WealthYou can e-mail your pension transfer questions now to [email protected] or on Wednesday 4 July between 1pm and 3.30pm call 03700 100 444. Standard geographic charges from landlines and mobiles will apply.Presenter: Paul Lewis Producer: Elisabeth Mahy Editor: Andrew Smith.

Graduates who sign up to training programmes offered by some of Britain's biggest outsourcing companies are being hit with bills running into tens of thousands of pounds if they decide to leave within two years. Some of those affected are now planning legal action. Will the government keep its commitment, written into legislation, to publish the details of how a ban on pensions cold calls will work by the end of the month? If it doesn't the Work and Pensions Secretary will have to explain to Parliament why that hasn't happened. Guest Rachel Vahey, Product Technical Manager, Nucleus FinancialIt's been a bad week for the Universal Credit benefit. On Thursday the High Court found the way it was implemented unlawfully discriminated against two severely disabled men when their income dropped after moving over to it. We hear from one of the claimants and Tessa Gregory from Leigh Day Solicitors who represented the men.On Friday a critical report from the public spending watchdog the National Audit Office said the Universal Credit system was slow and not delivering value for money. Guests Deven Ghelani, Director of Policy in Practice who helped shape the policy and Jane Millar, Professor at the Institute for Policy Research, University of Bath.

A government-backed scheme that allows you to buy part of your home and rent the rest. It's often advertised as a more affordable way for first-time buyers to get on the property ladder. But how affordable is it, especially when rent and service charges go up? Paul Lewis and guests explore the pro and cons of this kind of home ownership, which avoids the need for a hefty deposit and allows you to keep buying a bigger share of the home, but which can also limit who you can sell your property to and evict you if you get behind with your rent. Guests: Amy Nettleton, Aster Group housing association Jaedon Green, Leeds Building Society Giles Peaker, partner and housing specialist, Anthony Gold solicitorsPresenter: Paul Lewis Producer: Sally Abrahams Editor: Andrew Smith.

How can you avoid SIM swap fraud happening to you? TSB customers have contacted Money Box after their mobile phones were targeted by criminals. The fraud involves an identity thief posing as their victim in order to trick mobile phone providers into issuing a new SIM card. That card is then used, along with other information, to access and steal from online bank accounts. Reporter Tony Bonsignore investigates, and we hear from Keiron Dalton, head of fraud at Aspect Software.There is a call for people who have stopped work before reaching state pension age to check if they can top up their pension through voluntary contributions. In certain cases it could add £244 a year to their state pension. Steve Webb, director of policy at Royal London explains who qualifies and what they need to do. More lenders appear to be offering mortgages to older borrowers, with one provider allowing people to hold one until the age of 99. Jane King, independent mortgage advisor with Ash-Ridge Private Finance discusses what is behind the focus on older borrowers. Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Hugh Levinson.

It's a little known fact that if you or a relative has an ongoing health problem, the NHS will pay, not just for your treatment in hospital but could also pay for all your care needs, be that in a private care home or even in your own home.More than 160,000 people get exactly that support. Many more feel they should get it. The scheme is known as Continuing Healthcare Funding and it can be worth thousands of pounds per month. It's available to people living in England, Wales and Northern Ireland. In Scotland they decided the funding system was not fit for purpose and got rid of it three years ago.So, how do you qualify for financial support for long term health problems? What can you do if the support is withdrawn? And is this an effective way of looking after people whilst being sensible with public money?Let us know your views on NHS Continuing Healthcare. You can get in touch with Money Box Live at [email protected] Shaw is joined by a panel of experts: Lisa Morgan, Partner and Head of Nursing Care at Hugh James Solicitors in Wales Dan Harbour, Director of Beacon CHC Julie Wood, Chief Executive of NHS Clinical Commissioners Presenter: Adam Shaw Producer: Marie Keyworth Editor: Andrew Smith.

Money Box Live listener Anne from Dorset got in touch to tell us she feels "practically paralysed" when it comes to making decisions about spending money. She is 65 years old, retired and has an income of £20,000 a year through a combination of pensions and ad hoc work. She also has savings. But she has no idea if this will be enough to live comfortably in her retirement. She sees friends going on cruises and splashing out on luxuries which she'd love to do, but she is frightened of running out of money so ends up doing nothing. Anne says she knows she is fortunate to have a steady income, but she's not really enjoying retirement because she's too scared about her finances.Does this strike a chord with you? Get in touch with Money Box Live at [email protected] Cooper will be joined by: Michelle Cracknell, Chief Executive, Pensions Advisory Service. Debora Price, Professor of Social Gerontology at the University of Manchester. Jenni Allen from consumer group Which?

New figures show a rise in contracts that do not guarantee a minimum number of hours. Whether you are a worker or an employer, how does this kind of arrangement work for you?

We speak to people who are worried that they've lost control of their life savings having handed it to a company they can no longer contact. Their situation highlights the huge concerns about the unregulated industry of inheritance planning, even though some businesses handle huge amounts of cash. Anyone can set themselves up as an estate planner or will writer but that lack of regulation can have alarming consequences when things don't go as planned.Also, Adam Shaw speaks to Richard Lloyd, the man appointed to lead an independent investigation into the running of the Financial Ombudsman Service. It follows a TV documentary that revealed a litany of problems facing the ombudsman, including severely under-trained staff, unachievable targets, and thousands of incorrect decisions. . And, what should banks be doing to stop the persistence of transfer fraud? With more than £200 million worth of people's money was lost last year after criminals impersonating their bank persuaded them to transfer money to the criminal's account. The victim's own banks won't be held accountable, but what about the bank where the stolen money is moved to? Natasha Vernier, Monzo Bank's Head of Financial Crime gives us one bank's view, and fraud consultant Richard Emery of 4 Keys International explains how banks should be forced to accept responsibility.Presenter: Adam Shaw Producer: Marie Keyworth Editor: Jim Frank.

On 25th May, sweeping new data protection rules come into force, changing the way individuals and businesses deal with personal data. The EU's General Data Protection Regulation - or GDPR for short - will give you the right to do things like ask companies and organisation to tell you what data they are holding on you, and how it's being used. It will also restrict the way direct marketing reaches your email inbox, and means you will be told if your data is compromised by hackers.While the new rules strengthen individual rights, it's a big change for businesses, who are running out of time to comply. While some are confident they will be ready by next month's deadline, others are complaining that information explaining what precise changes need to be made is hard to come by. And with the maximum fine of around £17 million or 4% of global annual turnover, the consequences of a company failing to comply could be huge.In this programme we explain what GDPR will mean for you as an individual, and for your business, busting some myths along the way. As ever we want to hear your experiences; email: [email protected] Shaw will be joined by a panel of guests: Annabel Kaye, co-founder of Koffee Klatch Nina O'Sullivan, Legal Director and Professional Support Lawyer at Mishcon de Reya Steve Wood, Deputy Commissioner at the Information Commissioner's OfficePresenter: Adam Shaw Producer: Marie Keyworth Editor: Jim Frank.

The cost of living alone, rather than living as a couple, is more than £1000 a year, according to figures from the Office for National Statistics. In the UK nearly eight million people now live alone and spend on average £21 a week more than individuals who live as a couple. Money Box reporter Marie Keyworth visits Sussex to investigate the cost of living, shopping, exercising and holidaying alone.Up to 90,000 people on benefits are at risk of losing their home when the Government stops paying the interest on their mortgage in just over two weeks' time. In future, help with mortgage interest will be paid as a loan not a benefit. But new figures from the Department for Work and Pensions show that around 90% of those who get this benefit have not yet signed up for the loan that replaces it. It will be the same amount and still paid direct to their lender. But it will be a loan from the Government and secured against their home. If they do not sign up for the loan arrangement the money will stop from April 6th. We hear from Kit Malthouse, the Minister for Family Support, Child Maintenance and Housing, and from debt advisor Sara Williams, the founder of the Debt Camel blog.Also - Under Financial Conduct Authority rules, if you want to transfer a defined benefits pension of more than £30,000, you must seek guidance first. It's a safeguard against you making potentially disastrous financial decisions - but not an absolute block. That's because under pension freedom, it's your money and your decision. But one Money Box listener who received advice, but chose a different option, found it impossible to get her confirmation letter - which meant her pension transfer couldn't go ahead. Michelle Cracknell, chief executive of the Pensions Advisory Service explains your rights..Presenter: Paul Lewis Producer: Paul Waters.

This week a report from the Work and Pensions Select Committee says British Steel pension scheme members were targeted by "vulture" financial advisers after Tata was allowed to offload its retirement fund. It found that members were "shamelessly bamboozled" into transferring out of their final salary schemes, and criticises the Pensions Regulator and the FCA. The report also urged the FCA to ban contingent charging where financial advisers receive a fee for transfer advice, calling it "a key driver of poor advice." Guest Martin Bamford Chartered Financial Planner and Managing Director at Informed Choice Reporter Tony Bonsignore examines the issue of child maintenance and self-employed earnings as a bill on child maintenance evasion progresses towards its second reading. It's seeking to crack down on parents who use their self-employed status to "disguise the means they have available to financially support their non-resident children." Guest: Sumi Rabindrakumar from Gingerbread, the national charity for single parent families. Royal Mail and the Communication Workers Union (CWU) intend to lobby government to make the necessary changes to introduce what would be the UK's first collective defined contribution (CDC) scheme. It follows Royal Mail's decision to close its defined benefit scheme, which essentially pays out based on years worked and salary earned. How would the CDC scheme work and is there room for another pension option? Hilary Salt, founder of First Actuarial, who advised the CWU on the new scheme and Hugh Nolan, Chair of the Defined Contribution Committee for the Association of Consulting Actuaries, discuss. Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Jim Frank.

The FCA is warning about a form of online high-risk trading which some firms are illegally offering in the UK. Binary options trading involves betting on whether anything that can be measured in financial terms, like a currency or share index, will rise or fall below a specified price at a certain time. The FCA began regulating last month which means it's now illegal to sell those trades in the UK without its authorisation. Money Box listener Penny lost nearly £17,000 with an unauthorised firm but what can the FCA do in future to protect people like Penny? Christopher Woolard FCA Director of Strategy and Competition explains. The Department of Work and Pensions has confirmed that all Personal Independence Payment (PIP) claims will be reviewed. It follows a Government decision not to challenge a court ruling that said changes to PIP were unfair to people with mental health conditions. Guest Paul Farmer, Chief Executive of the mental health charity Mind. Interest-only mortgage holders are being urged to contact their lenders after a financial regulator review found too many people avoid planning how they intend to clear the underlying debt when the mortgage ends. It comes as Bank of England figures show December mortgage approvals reached a three year low. Why? Guests: Jane King, Independent Financial Adviser with Ash-Ridge Private Finance and Samuel Tombs, Chief UK Economist at Pantheon Macroeconomics.Presenter: Paul Lewis Producer: Charmaine Cozier Editor: Jim Frank.

How Britain created £435billion out of nowhere - and where the money went.

There's concern that thousands of steelworkers and former steelworkers at Port Talbot may have been badly advised to withdraw funds and put them into unsuitable investments. Money Box has learned that six firms have now voluntarily stopped signing up new clients. Money Box's Tony Bonsignore reports from Port Talbot. The programme hears from steelworker Paul who fears he's made the worst financial decision in his life. Megan Butler, director of supervision at the FCA and Michelle Cracknell, from the Pensions Advisory Service, explain the latest details of this complex situation. The Scottish Government is flexing its muscles over tax. As Money Box previewed last week, its draft Budget this week set out plans for increasing the present three income tax bands to five. Those earning up to £33,000 - will pay less income tax than they do this year. But some on higher incomes will pay considerably more. Stephen Hay, head of tax at accountants RSM joins the programme.Presenter; Paul Lewis Producer: Lesley McAlpine Editor: Andrew Smith.

What are the government's plans for tax and spending and how will they affect your personal finances? As the Chancellor delivers his second budget of the year, we're expecting measures to boost house-building and help young voters get on the property ladder. There may be a stamp duty holiday for first-time buyers or for pension-age homeowners wanting to downsize. Changes to pensions may be on the cards. What help might there be for savers and investors - and how will it be funded? Paul Lewis and a panel of experts assess the impact on the pound in your pocket. We'll meet the Marsden family from Oxfordshire, three generations living under the same roof - with an age range of 21 to 90 years old. How will the budget impact their lives? Paul Lewis will be joined by:Anita Monteith, Technical Manager at the Institute of Chartered Accountants in England and Wales Tom Selby, Senior Analyst at AJ Bell Iona Bain, Founder, Young Money blogPresenter: Paul Lewis Producer: Sally Abrahams.

Parents who use two government childcare schemes tell Money Box about a problem they fear is putting their children at risk of losing their nursery places. It happens when they go online to reconfirm their continued eligibility for either the tax-free childcare top up scheme or for 30 hours free childcare. After receiving a successful confirmation message they then get another one saying their entitlement will be stopped as they no longer meet the criteria - despite there being no significant change in their circumstances.Workers who are paid weekly and who also claim Universal Credit face having it stopped or reduced next month. The benefit is assessed on the basis of a four week month and there are five Fridays in December, which means the extra pay packet could push them over the income threshold to qualify for payment. To receive it again they have to reapply. As Universal Credit is paid in arrears there are concerns it could severely damage people's finances. Guest: Kayley Hignell, Head of Policy, Families, Welfare and Work, Citizen's Advice. The idea of increasing National Insurance Contributions by 1 percent to raise an extra £5bn towards funding adult social care in England is being put forward in a new report. One of its authors, Andrew Kaye, Head of Policy and Campaigns at Independent Age discusses with Angus Henton, Co-founder of the Intergenerational Foundation. Stamp duty is 'gumming up' the housing market according to joint research from The London School of Economics and the Family Building Society. It claims the prospect of a large tax bill is causing potential downsizers to stay where they are. Guest: LSE Professor Tony Travers. Presenter: Paul Lewis Reporter: Vivienne Nunis Producer: Charmaine Cozier.

New technology is transforming the way we handle our finances. Are you someone who uses mobile apps to keep track of how you spend your money or does the thought of it fill you with dread?Have you signed up to text alerts informing you of when you're about to go overdrawn? Do you use Twitter and other forms of social media to communicate with your bank or would you rather visit your branch and have a chat with a real person? Open banking, an industry wide initiative being introduced by the Competition and Markets Authority in January 2018, will mean that customers can choose to share their financial data with third party providers. The aim is to encourage more competition within financial services and provide customers with greater market choice and control over their money. Customers should be able to see a single view of their finances and receive recommendations about new financial and non-financial products such as broadband and energy tariffs. Does this prospect excite you or worry you?Call 03700 100 444 from 1pm to 3.30pm on Wednesday 1st November or e-mail [email protected] Louise in the studio are:Imran Gulamhuseinwala, Global Head of FinTech at Ernst and Young and Implementation Trustee for Open Banking. Dominic Lindley, consumer campaigner and Director of Policy at think tank New City AgendaPresenter: Louise Cooper Producer: Helena Selby Editor: Andrew Smith

Rent controls are common across Europe - but do they work? And could they work in the UK? It's a popular idea with voters but detractors say it could destroy the private rental sector. Nearly a third of private tenants had problems paying their rent, according to a recent report published by the Department for Communities and Local Government. Amid rising concerns about the cost of renting, there are renewed calls for some sort of price cap to limit cost increases - a policy already in progress in Scotland. For this edition of Money Box Live Adam Shaw examines how bad it's got for tenants and whether rent cap schemes in Germany and Sweden have helped or hindered the market for both landlord and tenant.CONTRIBUTORSSeb Klier, Generation RentAnna Clarke, Cambridge Centre for Housing and Planning Research, University of CambridgeDavid Smith, Residential Landlords AssociationReiner Wild, Berliner Mieterverein (tenants association)Billy McCormac, Fastighetsägarna Stockholm (landlords association).