Money Box

The Prime Minister, Sir Keir Starmer, has swept to power promising change, but there will be no change in the rates of the three big taxes - income tax, National Insurance, and VAT to protect what their Manifesto called 'working people'. So what will the new Labour government and the new Chancellor Rachel Reeves mean for our money? The listener being chased for more than £60,000 worth of energy debt she didn't owe. It comes as new, exclusive figures reveal more people are seeking help from Citizens Advice over debt collection.And there are signs that mortgage rates are beginning to creep downwards – what does that mean for those coming off a fixed rate deal? Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Catherine Lund and Jo Krasner Studio Production: Craig Henderson Editor: Jess Quayle(First broadcast 12pm Saturday 6th July 2024)

Almost 300,000 flights will take off over the summer months and whilst most holidays go without a hitch, others fail to get off the ground.Last year saw widespread disruption at airports, in August there was an exceptional IT failure at the UK’s main air traffic services provider NATS over a bank holiday Monday which affected around three quarters of a million people. Strikes and staff shortages also caused disruption.In this programme we'll discuss what your rights are if your trip is delayed or cancelled, as well as a Brexit passport rule which has been catching thousands of passengers out.Felicity Hannah is joined by consumer rights champion Jane Hawkes and Sean Tipton from ABTA, which is the association of travel agents and tour operators.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast on the 3rd of July 2024.)

This time next week the General Election will be over. As the days count down we'll get into the nitty gritty with listener questions on Inheritance Tax, Capital Gains Tax and ISAs. Some lawyers and listeners who are acting as powers of attorney have told Money Box they're having problems dealing with banks on behalf of their clients and relatives. The Association of Lifetime Lawyers, a group of legal professionals who support vulnerable and older people, has also told this programme banks need a more streamlined and consistent approach to dealing with powers of attorney. UK Finance which speaks for the banks acknowledged there is more to be done. It says banks are working with members and government bodies to look at how greater consistency can be achieved across the industry.And a tribute to former Money Box presenter and founder Vincent Duggleby, who sadly passed away earlier this month.Presenter: Paul Lewis Reporter: Felicity Hannah Researchers: Neil Morrow, Catherine Lund and Jo Krasner Editor: Jess Quayle (First broadcast 12pm Saturday 29th June 2024)

Around 38,000 children move into care every year in the UK. That's one every 15 minutes and a significant number of looked-after children will remain in the system until they reach adulthood. So what happens then? In this programme Felicity Hannah talks about what happens when you leave care. Without the bank of Mum and Dad, what financial support are those young people promised? We're joined by Jess and Callum, two care leavers as well as Kirsty Doull, Care and Transitions Lead at CELCIS, which is the Centre for Excellence for Children's Care and Protection, Carrie Wilson-Harrop from the Care Leavers Association and Clare Bracey, Policy, Campaigns and Communications Director at the care leavers charity, Become.Presented and Produced by Felicity Hannah. Producer: Neil Morrow Editor: Jess Quayle(First broadcast 3pm Wednesday 26th June, 2024)

There's less than a fortnight to go before the polls open in the General Election. The deadline's passed to register to vote, but there's still plenty of time to work out where you'll put that cross on the ballot paper. This week Money Box is talking about housing - focusing on your questions and comments.Imagine being told you owe more than £7,000 for your gas. You spend months trying to explain there's no way you could possibly owe anywhere near that amount, only to be told one day that because you still haven't paid it your details are being passed onto a debt collection agency. We investigate one listener's story.And new research shared exclusively with Money Box suggests almost a third of people are struggling to afford their car insurance. In a survey of more than 4,000 people the abrdn Financial Fairness Trust, a charity who carry out research to help improve living standards across the UK, found almost 1 in 3 people described their car insurance premiums as ‘unaffordable’. What can you do about it?Presenter: Paul Lewis Reporters: Dan Whitworth and Catherine Lund Researcher: Jo Krasner Editor: Jess Quayle(First broadcast at 12pm Saturday 22nd June 2024)

The number of people working into their late 60s, their 70s and beyond is rising. In this programme we'll discuss what that means for their employment rights and what it tells us about their finances.Back in the 90s, only around 5% of peopled aged 65 or older were in work. In the early 2000s, that rose to around 6%. But recently released data from the Office for National Statistics shows that today almost 12% of people in that age group are in some form of employment. That's almost one and a half million people.Felicity Hannah is joined by older workers to explore their finances, their struggles and their rights to challenge discrimination. She'll be joined by Dr Emily Andrews, Deputy Director for Work at the Centre for Aging Better, and Sarah Jackman, an employment lawyer at the law firm Dentons.Presented and Produced by Felicity Hannah Studio production: Amber Mehmood Editor: Sara Wadeson(First broadcast 3pm Wednesday 19th June, 2024)

Nineteen days to go before your cross on a ballot paper will help decide who runs the country. You have been telling Money Box what matters to you. This week we'll discuss how much tax you already pay and whether that will change after 4th July. The head of the UK payment regulator has rejected calls to delay a new fraud reimbursement plan which is due to begin on 7th October. It will mean that victims of fraud are fully reimbursed for losses up to £415,000. We'll have more on this story.And more than half a million people are now getting help with their finances, often saving substantial sums of money, thanks to something called the Vulnerability Registration Service. What is it and how does it work?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Immie Rhodes and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 15th June, 2024)

As we continue our series of listener questions ahead of the election, we focus on the Cost of Care and how care later in life should be paid for. Dan Whitworth has been to Shipley to meet Graham, who’s concerned about the cost of his own care – he wants to know what politicians plan to do about it.Energy companies are continuing to hang on to billions of pounds of their customers' money, which has built up as credit on their accounts. The energy regulator Ofgem says that during 2023, the average amount of credit in energy accounts for people who pay for their gas and electricity by fixed direct debit was £3.7 billion pounds. What's behind that?More than half a million people were left without their Child Benefit payment this week, after a technical issue at HMRC. What was done to help them?And this week, new banknotes featuring a portrait of King Charles III came into circulation – how can you get hold of one?Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Jo Krasner and Catherine Lund Editor: Jess Quayle(First broadcast at 12pm Saturday 8th June, 2024)

We hear from a pensioner on benefits who tells us she was shocked to find herself having to pay tax on her pension for the first time. With expert help, we explain the so-called ‘triple-lock’ mechanism and why the point at which you can be taxed on your pension has become a big talking point in the election campaign. Also in the programme, sneaky hidden extras on your online shopping have been banned under new laws passed this month. So called ‘drip pricing’ is when consumers are shown an initial price for an item or service, only to find additional fees are added on later at the checkout. We look what the rules are and how they'll work.Every time you use Mastercard or Visa debit or credit card to pay for something – the business you’re buying from has to pay fees. Some of these fees are optional, but many of them are mandatory. But now an interim report by the watchdog - the Payments Systems Regulator – found that these fees charged to shops and other businesses by Visa and Mastercard have been rising much faster than inflation, 30 % faster, but that there is no evidence that the service provided has improvedAnd we look at the scale of fake stamps in the UK. Royal Mail initially responded by charging people a penalty if they received items that were sent with a fake stamp. Although those fines are now ‘paused’, we reveal just how much they amounted to.Presenter: Paul Lewis Reporters: Sarah Rogers and Neil Morrow. Researchers: Sandra Hardial and Neil Morrow Editor: Craig Henderson(This programme was first broadcast Saturday June 1, 2024)

What are the financial issues that you will be considering when you decide how to cast your vote in the General Election in July? Research shows that the economy and inflation are two big issues on our minds - we'll hear from some potential voters on what they'd like to see.New figures from UK Finance, which represents banks and other finance firms, revealed that in 2023 a record number of people lost more than £450 million to thieves who tricked them, manipulated them and then drained their bank account. The slightly better news is that more of them got their money back. We'll delve into the details.And almost three quarters of a million tax credit renewal letters are hitting people's doormats over the next few weeks - and thousands of people will need to act or face losing their payments. What should you do if that’s you? Presenter: Paul Lewis Reporters: Dan Whitworth, Sandra Hardial and Neil Morrow Studio Producer: Craig Henderson Editor: Jess Quayle(This programme was first broadcast Saturday 25th May 2024)

Money Box can reveal that the government is recouping more than £250m pounds from over 100,000 carers who it says broke the earnings rule and should have lost their carer's allowance. The numbers came from a Parliamentary Question this week asked by the chair of the work and pensions select committee, Twice as many women as men are being chased for these overpayments.We hear from a carer who has around £5000 worth of debt as well as finding out more about rights for carers affected.The Department for Work and Pensions told us, “The total amount of Carer’s Allowance overpayments includes historical debts which the department is seeking to recover. In comparison, Carer’s Allowance expenditure is forecast to be £4.2 billion this year alone.” “Carers across the UK are unsung heroes who make a huge difference to someone else’s life, and we have increased Carer's Allowance by almost £1,500 since 2010.” Also on the programme, a report by spending watchdog the National Audit Office has revealed callers to HMRC helplines were on hold for a total of 789 years in 2022/23. Are we saving enough for our retirement? Pensions and investment mutual Royal London gives Money Box exclusive figures.And how do you spend a £50 note? We get to the bottom of what shops are allowed to accept.Presenter: Paul Lewis Reporters: Dan Whitworth and Sandra Hardial Researcher: Jo Krasner Editor: Sarah Rogers

Do you get as much as you give when it comes to your job? We've had some important jobs numbers this week - with official data showing there are more vacancies than there were before covid but, the number is falling, while unemployment is rising. But alongside that, wages are going up too - by around 6%.In this episode, we ask if you’re getting enough value out of your employer. We hear from listeners on how they asked their bosses for a pay rise, how they dealt with back pay and how they're making use of employee perks.Felicity Hannah is joined by Amanda Arrowsmith, People and Transformation Director for the CIPD, the professional body for HR and people development, and James Reed, Chairman and CEO at Reed Recruitment. Presenter: Felicity Hannah Producer: Amber Mehmood Editor: Sarah Rogers

The Pension Dashboard is intended to provide an online service to millions of people who have paid into a pension at work by showing all their pots and their value in one place. But the National Audit Office this week revealed a 'digital skills' shortage is behind delays, providers now have until October 2026 to connect to it. The costs of the dashboard are also up by almost a quarter to £279 million. Some people hoping to sell their leasehold homes are being charged large amounts by their freeholder to fill out a simple form which helps the sale to go through smoothly. We hear from 'Harry' who was just days away from exchanging contracts on his two bed flat in London when his sale collapsed because his freeholder wouldn't sign an LPE1 form unless Harry paid more than £20,000. The forms contain information such as ground rent and service charges and rules on pets. Also in the programme we answer listener questions about how to protect your money when banks merge, and applications open on the 12th of May for the next round of government funded childcare. Working parents in England with children aged nine months to under two years can apply for 15 hours of subsidised childcare starting from September. Parents have been encouraged by the Department for Education to act as soon as possible to secure their place. Presenter: Paul Lewis Reporters: Dan Whitworth and Jo Krasner Researcher: Sandra Hardial Editor: Sarah RogersThis episode was first broadcast on Saturday the 11th of May.

This week marks two years since the historic reform in family law, known as the 'no fault divorce', was introduced. It was aimed at reducing conflict during separations and meant that couples could divorce without the need to apportion blame for the breakdown of their marriage. This change led to a surge in new applications at the time. Divorce itself hits the bank balance with annual incomes falling by an average of £9,700 in the year after separation, according to Legal & General. From living together to sharing bills, sharing debts and sharing accounts, the financial implications can be significant. In this Money Box episode we're looking at how to separate your finances after a split, and if you are breaking up, at what point should you make up a financial plan?Felicity Hannah is joined by Gary Rycroft, Senior Partner at Joseph A Jones, and Sarah Coles, Head of Personal Finance at Hargreaves Lansdown. Presenter: Felicity Hannah Producer: Amber Mehmood Editor: Sarah Rogers(This episode was first broadcast on the 8th May 2024).

Digitally excluded. An elderly couple have their accounts frozen because their documents were out of date - despite having being customers for their bank for nearly two decades. We hear from Tom and Marian Doughty who say they were left with weeks of sleepless nights.Can you boost your state pension by filling old gaps in your national insurance record? A new online calculator from the Department for Work and Pensions and HMRC aims to answer that. The Treasury says the new service will bring “peace of mind” to people planning for their retirement and could help “thousands” of pensioners. Royal Mail has suspended the £5 penalty it charged people for letters sent with a new barcoded stamp which its machines had identified as fake. And what happens to your home when you break up with someone? Should you make a financial plan when the relationship is going well, in case it doesn't in the future? Presenter: Paul Lewis Reporter: Dan Whitworth and Jo Krasner Researcher: Sandra Hardial Studio producer: Sarah Rogers Editor: Neil Morrow(This episode was first broadcast on the 4th of May, 2024).

Unpaid carers spend at least 35 hours a week looking after someone close to them. That someone may have an illness, a disability, a mental health problem or even an addiction, but what matters is that they cannot cope without that care.There are almost 6 million unpaid carers in the UK with 40% living in poverty according to charity Carers UK. This week we have a special audio diary from one carer trying to hold down a job around those care commitments, we will also hear from those who have given up work to care full time.The Department for Work and Pensions told us; 'We recognise the importance of carers, who play a vital role in our communities. We have increased Carer’s Allowance by almost £1,500 since 2010, with those on low incomes potentially eligible for an extra £2,400 a year.'So if you're unsure about the rules around carers allowance, assessments and where you can get help and support, Felicity Hannah is joined by Emily Holzhausen, Director of Policy and Public Affairs at Carers UK and Caroline Abrahams, Head of Charity at Age UK,Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Sara WadesonThis episode was first broadcast on the 1st May 2024.

A senior MP has told Money Box that the government must take urgent action to stop carers working up thousands of pounds of debt after unwittingly receiving overpayments of Carer's Allowance. Unpaid carers, who look after a loved one full time, are entitled to nearly £82 per week in Carer's Allowance. On top of that they can earn up to £151 take home pay. But stray above that earnings limit, even by just a few pence, and they lose the full allowance. The Department for Work and Pensions is alerted on a month by month basis when this happens, but in some cases carers were not told of their mistake for years. Labour MP Stephen Timms, Chair of the Work and Pensions Select Committee says it should never have taken so long for carers to be notified. The UK's biggest credit card provider, Barclaycard, is cutting minimum payments on its card to 1% from July. It is not the only credit card provider to allow 1% minimum payments, and Barclaycard says it's made the changes to increase flexibility for customers. We look at what it means in practice for customers, in terms of how much more you'll ultimately pay in interest and how long it'll take to pay off the debt. And we return to the subject of ISAs - Individual Savings Accounts. New changes this month should mean that customers can open multiple ISAs of the same type in the same tax year, and make partial transfers of funds between them. Money Box has learnt that many of the biggest ISA providers in the UK are not yet offering customers these new freedoms, why?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Studio Producer: Craig Henderson Editor: Beatrice Pickup(first broadcast on Saturday 27th April 2024)

Around 10 million people across the UK live in a leasehold property. That means they viewed the house or flat, bought it, may be paying off a mortgage to eventually own it outright. However, they are actually tenants of whoever owns the freehold. What they have bought is the right to live in the property for a given amount of time. Sometimes that's for the best part of a thousand years - sometimes it's for much less.In this episode we hear from leaseholders on what some of the issues are, including ground rent and service charges and what can be done about them. We'll also hear from a charity which relies on leasehold revenues.It's a system that even ministers have described as feudal - behind the scenes, work continues on the Leasehold and Freehold Reform Bill, which is being examined by members of the House of Lords this week. The Department for Levelling up, Housing and Communities say; “It is not fair that many leaseholders face unregulated ground rents for no guaranteed service in return."The Residential Freehold Association told us; “The Government’s own report into leaseholder perspectives highlighted that the vast majority of leaseholders are content with the leasehold system." To answer your comments and questions, Felicity Hannah is joined by Matt Lewis, a Consultant Solicitor at Commonhold and Leasehold Experts Limited and Martin Boyd, chair of the government funded Leasehold Advisory Service and also chair of the Leasehold Knowledge Partnership, which supports and campaigns on behalf of leaseholders. Presenter: Felicity Hannah Producer: Sarah Rogers/Amber Mehmood Editor: Beatrice PickupThis episode was first broadcast on the 24th of April 2024

New regulations aim to ensure that victims of fraud are treated fairly, no matter who they trust with their money. The financial watchdog, the Payment Systems Regulator, says many firms are not doing enough to refund victims of authorised push payment fraud. Currently the majority of high street banks are signed up to a voluntary charter that makes banks liable for customer losses. However many people hold accounts with firms known as Electronic Money Institutions, or EMIs. Such firms are regulated by the Financial Conduct Authority but do not have a banking licence. The new rules from the Payment Systems Regulator will be mandatory for both banks and EMIs. When they come into force in October they should cover nearly all payments made by individuals in the UK except international ones and those involving cryptocurrency. We hear from Money Box listener Carol, who had to spend a year fighting to get the money stolen from her refunded. New changes to the way ISAs, Individual Savings Accounts, simpler come in this month. Officially they should mean that savers now have the option to open more than one cash or stocks & shares ISA in the same year. We look at whether providers will be allowing customers to take advantage. And how do you pay for your car insurance? A new report from the consumer organisation Which? found that it can cost much more if you opt for monthly payments. A survey of 39 car insurance providers found an average APR of over 23% was charged for monthly payments, and the highest APR found was over 39%. Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Beatrice Pickup(first broadcast Saturday 20th April 2024)

This week car insurance bosses, appeared in front of MP's as part of an investigation into the cost of premiums.They're continuing to rise and according to price comparison site Compare the Market are up 46% over the last year, making the typical payment for comprehensive insurance £892 a year. Consumer group Which? say some insurers are charging 'eye-watering' APR rates on those spreading the cost over the course of 12 months.So, we put your questions and comments to the Association of British Insurers who tell us it's been a difficult year for the industry.But it's not just insurance, we're also looking at the cost of fuel, maintenance and of course alternatives to running a car altogether.To answer your questions and comments Felicity Hannah is joined by Rachel Burgess the editor of magazine Auto car and Stuart Masson from online publication, The Car Expert. Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess QuayleThis episode was first broadcast on Wed 17th April 2024

Tens of thousands of people who juggle caring for a loved one and having a job may be forced to cut the hours they work, according to the charity Carers UK. In April the National Living Wage was increased to £11.44, but the earnings limit for the Carer's Allowance did not go up by the same amount. The result is that some carers will be limited to working just over 13 hours a week, anything above that and they'll lose the entire benefit. Some carers have also faced demands to repay thousands of pounds that they've mistakenly received in over-payments over multiple years. You've been contacting Money Box about rising car insurance costs. The Association of British Insurers says increases are largely down to above inflation increases to the cost of repairs, thefts and replacement cars. We look at how much premiums have risen by and what, if anything, you can do about it. And employers - take note - new changes to employment law in England, Scotland and Wales this month will impact policies on flexible working, redundancy and paternity pay and leave amongst others. We'll speak to an employment lawyer about what these changes will mean in practice for both employees and employers. Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Dan Whitworth(first broadcast Saturday 13th April 2024)

Data from the Financial Conduct Authority suggests fewer of us are struggling to pay our bills compared to last year, but the numbers are still high.The watchdog says more than 7 million people were finding it tough to pay bills and make repayments on borrowing at the start of the year, down from almost 11 million last year. However, despite the drop that's still far higher than before the cost of living pressures really started to bite.Price rises are slowing and energy bills have come down - so this could be a great moment to finally beat your bills back down and build a brilliant budget.In this episode we look at how to save money on your current repayments, budgeting, recovering from debt and hear from a super saver. Felicity Hannah is joined by consumer finance expert Martyn James and Jay Lowe, Head of Money Advice at Citizens Advice Staffordshire North and Stoke On Trent to answer your comments and questions.Presenter: Felicity Hannah Producer: Sarah Rogers Reporter: Neil Morrow Editor: Jess QuayleThis episode was first broadcast on the 10th April 2023.

National Insurance - a tax millions of working age people pay on their wages - is being cut this weekend, for the second time this year. The main rate of National Insurance has now fallen by a third - from 12% last year to just 8%. The Treasury says combined with above-inflation increases to personal tax thresholds since 2010, this will save the average earner over £1,500 compared to what they would otherwise have paid. What difference will it make to your pay?The debt charity StepChange has told Money Box a third of people they helped last year were behind on their Council Tax payments with an average debt of more than £1,700. What can you do if you're struggling to pay?Plus, changes to Child Benefit mean it will become available to thousands more families from this weekend - how will that work?Presenter: Paul Lewis Reporters: Sarah Rogers and Eimear Devlin Researchers: Sandra Hardial and Jo Krasner Producer: Craig Henderson Editor: Jess Quayle(First broadcast 12pm Saturday 6th April 2024)

April is a big month for our finances, some bills go up and one or two even come down. A big relief for many households will be the that energy prices are dropping, but one bill that is still going up is rent.UK rent prices rose 9% in the 12 months to February.Research shared exclusively with Money Box Live has revealed you're more likely to be in your overdraft if you're a renter compared to people with mortgages. You're also less likely to have savings to fall back on in an emergency.Meanwhile government plans to scrap no fault evictions for tenants in England have been delayed. Neither tenants nor landlords are happy with the current position.Felicity Hannah is joined by Sarah Pennells, Consumer Finance specialist at Royal London, Dan Wilson Craw, Deputy Director at Generation Rent UK, and Richard Donnell, director of research at the property platform Zoopla.Presenter: Felicity Hannah Producer: Neil Morrow and Sarah Rogers Reporter: Eimear Devlin Editor: Jess Quayle(This episode was first broadcast on the 3rd April 2024)

April brings many changes for our money, and this programme has all you need to know.From Monday 1st, there will be higher pay for people on the various minimum wages. For the first time 21 and 22 year olds join people aged 23 and over in getting what's called the National Living Wage. It's going up to £11.44 an hour, a near 10% rise. 18 to 20 year olds get a bigger boost with minimum wage up nearly 15% to £8.60 an hour, while 16 and 17 year olds and those on apprenticeships get the largest increase of more than 21%, taking their minimum hourly pay to £6.40. On the same day, the Energy Price Cap set by the regulator Ofgem will fall reducing the typical annual bill in England, Scotland, and Wales by 12% to £1,690 per year. That is the lowest it has been for two years. So will it be worth switching suppliers for a new fixed deal?It's 25 years since the introduction of tax-free ISAs. You have just a few days to make use of this year's allowance and there are some big changes next tax year. we’ve got all you need to know.Plus, what’s changing next week for childcare, why some people need to do a meter reading, and how to save money on stamps.Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 30th March 2024)

More than half of adults don't have a Will according to new research from insurance company Canada Life. The main reason people say they haven't sorted one is that they don't think they have enough money to leave behind. So what types of Will are there and what do they mean? We'll be hearing from one man who says he was disinherited over changes to a Mirror Will. We also speak to a mother concerned about digital assets following the death of her son.Plus, what happens if you don't have a Will at all, where will your estate go?Felicity Hannah is joined by Nina Sperring, Partner at Price, Slater, Gawne solicitors and is a member of STEP, the Society of Trust and Estate Practitioners which specialises in estates and Wills and Jade Gani, Chief Executive of Circe Law and a Director of The Association of Lifetime Lawyers.Presenter: Felicity Hannah Producer: Sarah Rogers Reporter: Neil Morrow Editor: Jess Quayle(This episode was first broadcast at 3pm Wednesday March 27th 2024)

This week marks 10 years since a landmark shift in the way we could all use our pensions. Back in the Spring of 2014 the then Chancellor George Osborne announced plans for new freedoms, allowing people over the age of 55 to take 25 per cent of their pension tax-free and use the rest as they wished. What impact did that have? Hundreds of survivors of economic and physical domestic abuse have been helped by a new scheme set up by one of the UK's biggest banks. TSB's "Flee Fund" was launched just over a year ago to offer financial help to people trying to escape abusive partners. Dan Whitworth reports from Preston.There was a rare U-turn from HMRC this week. On Tuesday it announced it was planning to close its self-assessment phone helpline for six months of every year. The tax authority said it wanted people to use a chatbot and access its online services instead. Then, just over 24 hours later, HMRC changed its mind and halted those plans. It says its "listened to the feedback and is halting the helpline changes as it recognises more needs to be done to ensure all taxpayers’ needs are met, whilst also encouraging them to transition to online services.” What does that mean?Presenter: Felicity Hannah Reporters: Dan Whitworth and Jo Krasner Researchers: Luke Smithurst, Eimear Devlin and Sandra Hardial.(First broadcast 12pm Saturday 23rd March 2024)

Mortgage customers face rising rates, vanishing deals and latest figures have shown more people are struggling to keep up with their repayments. Mortgage arrears, hit a seven-year high in the final quarter of 2023. So what can you do if that's you? Felicity Hannah is joined by Charlotte Harrison of Skipton Building Society, Sally Mitchell from the Mortgage Mum, and Richard Lane from the debt charity Step Change - to discuss what's going on in the mortgage market and what you need to know.Presenter: Felicity Hannah Reporter: Dan Whitworth Producer: Neil Morrow Editor: Jess Quayle(First broadcast 3pm Wednesday 20th March, 2024)

The number of people falling victim to fraud involving cryptocurrency has more than doubled between 2020 and 2023 according to Action Fraud. The value of such fraud has also increased. Our reporter Dan Whitworth has met one such victim, an 86 year old in South Wales who lost over £70,000. Following a Money Box investigation she's now had her lost life savings refunded. We've been reporting on difficulties people are having moving from working tax credits to Universal Credit. We hear from a listener who runs an annual skinny dipping event to raise money for charity, she's been told by her work coach that all her fundraising will be considered personal income for the purposes of Universal Credit. In a week that some lenders increase interest rates, figures from the Bank of England show an increase in arrears on mortgage accounts. We hear how people are coping with their mortgage costs and what you can do if you're struggling to pay them. Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Beatrice Pickup(First broadcast Saturday 16th March 2024)

New arrangements for childcare payments come into force in April in England. How will the new arrangements affect parents? Are they going to be better or worse off?The Chancellor Jeremy Hunt announced extended support for parents of pre-school children in 2023. But many parents say the payments are still too low or that there aren’t enough places available. Felicity Hannah is joined by Ellen Broome of the children's charity Coram, and Jonathan Broadbery, Director of Policy at the National Day Nurseries Association.Presenter: Felicity Hannah Producers: Will Harris and Neil Morrow Editor: Beatrice Pickup

The Chancellor has delivered his Spring Budget for 2024 announcing a 2p National Insurance cut for millions of working people under the age of 66. Jeremy Hunt says this will save the average worker £450 a year.But, analysis by the Office for Budget Responsibility says maintaining a freeze on the personal tax allowance - the amount earned before tax is paid - will mean 3.7 million extra people paying income tax by 2028, when the freeze comes to an end. So will you be better or worse off? We'll be looking at the numbers.What would you do if you got a letter through your door asking for almost £2000 owed by a complete stranger? That's what happened to one of our listeners who spent weeks trying to sort it out with a debt recovery company. We hear from a senior MP calling for tougher regulation.And an investigation into car finance agreements taken out before February 2021 could eventually lead to compensation for millions of motorists. Discretionary commission agreements meant some lenders allowed car dealers to adjust interest rates on finance deals. The Finance and Leasing Association told us: "In practice, having discretion to move the interest rate often meant that dealers lowered it to be more competitive."Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Sarah Rogers (First broadcast 12pm Saturday 9th March 2024)

As Chancellor Jeremy Hunt presents his Spring Budget, Money Box Live sifts through the details - and the impact on all our finances.Expectations included a 2p cut in National Insurance contributions but will that look like on your payslip? Money Box reporter Dan Whitworth answers those key questions.Felicity Hannah is joined by Sarah Coles, Head of Personal Finance at Hargreaves Lansdown; Simon Gammon, Managing Partner at the mortgage broker Knight Frank Finance, and Dawn Register, Tax Partner at the accountancy firm BDO.Presenter: Felicity Hannah Producers: Craig Henderson, and Kath Paddison Reporter: Dan Whitworth Researcher: Eimear Devlin Editor: Sarah Rogers(This episode was first aired on Wednesday the 6th of March at 3pm on Radio 4)

Money Box gets a special look at a new exhibition at the Bank of England Museum about the future of money. Paul Lewis picks up a gold bar, sees the new King Charles money, and finds out more about the consultation for a new digital pound. The pensioners getting in touch to ask why they’re soon to start paying tax on their pensions. We'll discuss that with the Low Incomes Tax Reform Group.And, there are calls this week for the government to slow down the speed at which its moving existing benefits claimants onto Universal Credit. The Child Poverty Action Group says it is seeing cases of people struggling to claim, or missing the deadline as they are unsure what’s required of them. The Department for Work and Pensions told us the vast majority of Tax Credit claimants have successfully moved to Universal Credit, and that there is a range of support available to help people move. Presenter:: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 2nd March 2024)

How do schools teach children and teenagers about money?Learning about money is part of the curriculum but more than three-quarters of teachers say young people are leaving school without the money skills they need for adulthood. We’re going back to school to hear from pupils at Trinity Academy Cathedral School in Wakefield who are learning about money in special classes. We’ll listen in to find out how the experts teach children about credit cards, pensions, budgeting and more.The government says its reformed the curriculum and invested substantially over £100 million in its Maths Hubs programme.Felicity Hannah presents alongside the broadcaster, maths teacher and University Challenge alumni Bobby Seagull. They’ll be finding out how it all works from the school’s headteacher Anna Gillinder and Stephanie Fitzgerald, Head of Young People Programmes at The Money Charity.Presenters: Felicity Hannah and Bobby Seagull Producers: Kath Paddison and Sarah Rogers Reporters: Tamzin Kraftman Researcher: Eimear Devlin Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday 28th February 2024)

As many as two million of the poorest households have seen the amount they owe their energy suppliers double over the past year. This new analysis of debt figures has been given to Money Box by the consultancy firm Baringa. It says people who've fallen behind on their payments are now £1,100 in the red, an amount that has doubled in a year. Energy UK, which represents suppliers, say they're doing all they can - and we'll hear more about Ofgem's plans to help tackle debt in the industry.Twenty financial advice firms have been told that they must provide the regulator with details of the services they provide customers when they charge them for what is called “ongoing advice”. The Financial Conduct Authority has written to the companies as part of its enforcement of the new Consumer Duty. What will this mean for consumers?And, an annuity is a contract with an insurance provider which converts your savings or pension pot into a guaranteed income for your retirement. As annuity sales rise, we'll discuss what they are and how they work.Presenter: Paul Lewis Reporter: Sarah Rogers Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 24th Feb 2024)

There are approximately four million children in Great Britain whose parents are separated.When couples break up they cut their finances apart, but for parents there's that ongoing relationship that comes with supporting those children - emotionally but also financially. So how do you manage that?Sometimes, of course, it breaks down and a parent has to ask the state to step in and make their ex pay support. We'll discuss some changes coming to how that's enforced.And we hear from parents who are sharing care and finding ways to make the finances and the new circumstances work. Joining Felicity Hannah is Leah Caldwell who is the Director of Mediation First and treasurer on the board of the Family Mediators Association and also Gemma Hope who is a solicitor at Family Law Partners.Presenter: Felicity Hannah Producers: Kath Paddison and Izzy Greenfield Editor: Jess Quayle(This episode was first broadcast at 3pm on Wednesday 21st February 2024)

When someone dies and leaves a property in their own name, or has significant savings or investments, the executors must apply for probate - a legal document which gives them the right to deal with the dead person's estate and distribute their assets. The Ministry of Justice says probate should be granted within 16 weeks, but some bereaved families have been facing delays of nearly a year. Why is that?A new report shared exclusively with Money Box suggests many of us know very little about the charges being taken out of our pensions. People's Partnership carried out a survey which found that out of a thousand people who'd transferred their pension in the past two years without getting advice beforehand - 72% didn’t know exactly what the fees for their old pensions were, or what they were being charged for their new one. What should you look out for?And for the first time the percentage people in England who're married or in a civil partnership has fallen below 50 percent. If you live with someone and share your money - what do you need to know?Presenter: Paul Lewis Reporters: Dan Whitworth and Jo Krasner Researcher: Sandra Hardial Editor: Jess Quayle(First broadcast 12pm Saturday 17th February 2024)

When do you think you'll be able to retire?Perhaps you can't wait to pick up your last pay check or maybe you love your job so much you want to work for the rest of your life.For those who do hope to retire, the latest research suggests we'll all need an an extra £8,000 a year for a so-called moderate retirement according to the Pensions and Lifetime Savings Association. Meanwhile, the International Longevity Centre reckons we'll need to raise the state pension age to 71 by 2050.On this Money Box Live we're getting to the bottom of how realistic that is and what it all means.We'll hear from someone working well into their 70s as well as a super saver hoping to retire in her 40s! Felicity Hannah is joined by Helen Morrisey, Head of Retirement at financial services company Hargreaves Lansdown and Dr Emily Andrews, Deputy Director for Work at the Centre for Ageing Better charity to answer your questions and comments.Presenter: Felicity Hannah Reporter: Eimear Devlin Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast at 3pm on Radio 4 on the 14th of February 2023).

Dozens of Citizens Advice centres are at risk of closing because local councils which support them are running out of money. That warning came this week by the senior Labour MP Clive Betts in an exclusive interview with Money Box. He is also the Chair of Parliament's select committee on Levelling Up, Housing and Communities. Dan Whitworth visits one of those citizens advice services at risk in Mansfield. The government says up to £64 billion has been made available to local authorities in England, an increase of 7.5% on the previous year which will allow local authorities to support communities and reform services to help them prepare for the future.The cost of a comfortable retirement in Britain has jumped by nearly £6,000 to just over £43,000 a year for a single person and £59,000 for a couple. Every year the Pensions and Lifetime Savings Association publishes figures worked out by Loughborough University for the amount of money you'd need to afford certain lifestyles in retirement. How is it calculated and how can you prepare for your retirement?And, investment platforms and providers of personal pensions, have just a few weeks left to make sure the way they treat customers' cash balances fits in with new rules called their Consumer Duty. In December the Financial Conduct Authority wrote to 42 firms after concerns that some of them were keeping some or all of the interest they earn on customers’ cash balances. And with rates of 4% or more that's meant big returns. If you invest, what might that mean for you?Presenter: Paul Lewis Reporters: Dan Whitworth and Sandra Hardial Researcher: Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 10th February 2024)

Are savers getting a good return on their cash?Although times are tight, we are actually saving slightly more according to the Bank of England. In December, we collectively saved £6bn.But, more than a trillion pounds is sitting in accounts earning around 2% interest - even though the base rate is still at 5.25% - according to analysis by Lightyear of the Bank of England's data.And £250bn is in accounts that are paying no interest at all.So are banks doing enough? UK finance which speaks on their behalf, says many of its members have been contacting their customers to let them know about different savings accounts that are available.As always we've got the experts to answer your savings questions - including where to start as well as some of the many emails you've sent us about when and how to pay tax on your money.Joining Felicity Hannah is Anna Bowes founder of savingschampion.co.uk, banking analyst Frances Coppola and Chris Gray, independent financial advisor with Forester Boyd Wealth management.(This episode was first broadcast on Wednesday the 7th of February 2024).

Around twelve thousand unmarried parents with dependent children whose partner has died have just a few days to claim their share of an estimated £175 million in bereavement benefits. The figures came from Freedom of Information Requests to the Department for Work and Pensions. People must claim that money before Thursday 8th February. If you think you, or someone you know, may be eligible check by searching for "bereavement support payment" on the gov.uk website.New figures show £253 billion is sitting in bank accounts which pay no interest at all. Should banks be telling us to move it? The government is sending out the final cost of living payment for low income households this month. It's £299 straight into bank accounts. We've got all the details. And some people who got £150 off their electricity bill last year are discovering they are not entitled this year, because their home isn't hard enough to heat. We'll discuss changes to the Warm Home Discount Scheme.Presenter: Paul Lewis Reporters: Dan Whitworth, Tamzin Kraftman, Eimear Devlin Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 3rd February 2024)

Are you thinking of turning your 'side hustle' into a full time job?Perhaps you want to take the plunge but don't know your sole trader from your limited company.This Money Box Live is a toolkit for anyone planning to start a new business - or those who've started one but might need a helping hand.And we have Dragons' Den star Deborah Meaden on the show to talk about what makes a good idea, the positives of running your own business as well as the pitfalls to look out for.Following the pandemic there was a huge drop in the number of self-employed people but last year more than 100,000 people decided to go it alone and work for themselves compare to the year before - and it's the over 50's taking the lead according to the freelancer organisation IPSE.It's also deadline day to fill out your self assessment tax return - so we'll be answering all your tax questions too.Felicity Hannah is joined by Vicks Rodwell from the Association of Independent Professionals and the Self-Employed and Richard Jones from the Institute of Chartered Accountants in England and Wales.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(First broadcast 3pm Wednesday January 31st 2024)

Campaigners for victims of pension and investment fraud met with the Treasury this week. We'll hear from the Conservative MP who is the co-chair of the All Party Parliamentary Group on Investment Fraud, Caroline Nokes, who was at that meeting.What's the latest for working parents of two year olds planning to take advantage of the free 15 hours of childcare in term time which begins in April?Thieves are stealing the identities of bereaved families to try and steal money from friends and relatives of the person who has died. The National Association of Funeral Directors says it has seen a spike of such frauds in the past few weeks in Northern Ireland. What do you need to look out for?And, some new rules started this month for platforms which allow people to sell goods online. We'll clear up some confusion after listeners contacted the programme.Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 27th Jan, 2024)

How are you dealing with energy costs this winter?Money Box Live has heard some people are skipping meals whilst others in full time employment are turning to warm banks and food hubs to cut costs.The energy price cap, which is now what most of us pay, jumped 5% at the start of the year to £1928 for typical use - but what exactly does that mean and are you a typical user?Meanwhile, the charity Citizens Advice has estimated two million people on prepayment meters could have their gas and electricity cut off because they cannot afford to top up. The Department for Energy Security and Net Zero says its spending an average of £3,700 per household to support families with the cost-of-living. And there is some relief on the way as prices are predicted to fall in the spring.Answering all your questions and comments with Felicity Hannah is Peter Smith, Director of Policy at the charity National Energy Action and Deputy Policy Director Daniel Portis from Energy UK which speaks for the industry.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast oat 3pm Wednesday the 24th of January 2024)

Some people who have been defrauded out of some or all of their pension fund are now being chased by HM Revenue & Customs for tax on money they no longer have. They were persuaded by advisers to cash in their pension and invest it in schemes that promised big returns. In fact they were often fake and some or all of their money disappeared. But HMRC is demanding tax on this missing money because they cashed in their pension too early. A campaign group based in Parliament is calling for a change in the law to protect them from what it calls the largest tax scandal in British history. In response, HMRC told Money Box “We do not tax pension savings lost to fraud. What we do tax are amounts that people release, or attempt to release, from their pensions where not authorised in law. It is our responsibility to collect the tax people legally owe and maintain a fair tax system for all. We sympathise with people who may have lost money by entering such arrangements and handle these situations on a case by case basis. We take the wellbeing of all taxpayers seriously and do everything we can for those who engage with us to get their tax affairs in order, including by offering affordable payment plans.”As temperatures hit a new low this week one charity is nearly doubling the size of the vouchers it gives to those who can't keep warm. We'll speak to the Fuel Bank Foundation which helps people on prepayment meters manage their bills.A record number of people will need to re-mortgage this year - are the choices getting any better?And all you need to know about filing your self assessment form.Presenter: Paul Lewis Reporters: Dan Whitworth and Tamzin Kraftman Researcher: Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 20th January 2024)

Flooding damages property, lives and can be incredibly financially damaging as well.There was £352 million pounds in insurance claims for damaged homes following storms Babet, Ciaran and Debi at the end of last year according to the Association of British Insurers. We don't yet know the financial fall out of January's storm Henk - the eighth named storm of the season - but as the climate changes, insurers expect even more of this kind of weather.So what is flooding costing homeowners and businesses and what is the best advice if you've been affected?Felicity Hannah visits a flat owner in Worcestershire and we hear from the man who spent £80,000 taking matters into his own hands.This week we're joined by Heather Shepherd from the charity the National Flood Forum as well as Laura Hughes, Manager of General Insurance at the Association of British Insurers, which represents the industry.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Sara Wadeson(This episode was first broadcast on Wednesday the 17th of January on Radio 4 at 3pm)

New figures given to Money Box show there has been a big increase in the amount of money being stolen through fake text messages offering people jobs. These recruitment scams are usually sent via text or WhatsApp and offer high pay, easy hours and the chance to work from home. Last year 126 people contacted Action Fraud saying they'd been victims of this type of scam with £977,000 stolen from them. That is 50 times as much as was reported the year before. What do you need to look out for?Storm Henk was the 8th storm of this season and more could well be on the way. As the flooding costs for insurers rise, home insurance premiums move up with them. According to the Consumer Intelligence Home Insurance Price Index they had already risen 36% by last October. We'll explain all you need to know about flood insurance.When you pay into a pension you expect it to be there for you when you retire. We investigate one listener's case who discovered her pension company had taken all her money in charges.And Paul Lewis asks listeners how they buy their music? Email [email protected]: Paul Lewis Reporters: Dan Whitworth and Sandra Hardial Researcher: Jo Krasner Editor: Jess Quayle(First broadcast 12pm Saturday 13th January, 2024)

The price of nursery can be more than a mortgage. In fact, to send a two-year-old to nursery for 50 hours a week, allowing you to work full time, can set you back more than £14,000 a year according to Coram the children's charity.But, from April this year, working parents in England can claim 15 government funded hours for two year olds, instead of waiting for them to turn three to get help. Applications for that support are now open - but there are concerns that not all parents will be be able to get their applications processed in time to use them. We've been investigating that, and what else is available to cut childcare costs for mums and dads.We'll also hear from a nursery owner on the financial pressures of caring for children and talk about the costs of having school age kids.Felicity Hannah is joined by Paul Rhodes from the Money and Pensions Service and Meghan Meek-O'Connor, senior policy adviser on child poverty at Save the Children UK.Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast on the 10th of January at 3pm on Radio 4).

National Insurance will be cut for millions workers from today. It'll be cut from 12% to 10% - the lowest main rate for more than twenty years. The government says this cut will save an employee on average earnings around £450 a year. However, some experts including the Office for Budget Responsibility say that gain is far less than the cost of freezing personal tax allowances from 2021 while wages rose. What will it mean for you?A new set of regulations designed to help victims of fraud should see up to 90% of them get the money stolen from them refunded by their banks. That's according to Chris Hemsley, who runs the Payment Systems Regulator. He says he hopes the change will encourage the industry to do even more to stop fraud from happening in the first place. HM Revenue and Customs says it will only take what it calls 'priority calls' on its Self Assessment helpline ahead of the 31st January tax deadline - sending everyone else to its online services. How will that work in practice?And what parents of small children need to do to apply for the new 15 hours of free childcare.Presenter: Paul Lewis Reporters: Dan Whitworth, Sandra Hardial and Eimear Devlin Editor: Jess Quayle (First broadcast 12pm Saturday 6th January 2024)

It can feel like new year, new you, with so much potential for change and improvement, but then reality can kick in. Around 1 in 3 of us will have made a financial resolution this year, but according to Hargreaves Lansdown, almost 20% of us won't even make it to the end of this week.So how do you make them stick? Felicity Hannah is joined by behavioural & data scientist Professor Pragya Agarwal, Laura Suter, Head of Personal Finance at AJ Bell and consumer rights expert Martyn James. Presenter: Felicity Hannah Reporter: Andrew Strachan Producer: Sarah Rogers Editor: Jess Quayle(This episode was first broadcast on Radio 4, Wednesday the 3rd of January 2024 at 3pm)