Fraud Refunds Report and Savings Tax
Money Box
by BBC Radio 4
21h ago
For the first time we know the record of individual banks on reimbursing victims of fraud. The Payment Systems Regulator published figures this week which show, bank by bank, what proportion of the victims were reimbursed and what proportion of their money they got back. Millions of people, some with quite modest savings, now face the prospect of paying tax on the interest those savings earn. Who does it affect and what do you need to do about it? We'll discuss a new report from the University of Bristol about finances and divorce. And as recent research suggests two out of three British adult ..read more
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Lancaster Live: Can You Afford Your Home?
Money Box
by BBC Radio 4
4d ago
This week the team is live at a community centre in Lancaster to look at all things housing. It's one of the biggest financial stories of the year. Rising interest rates led to hundreds of mortgage deals being pulled earlier this year before being replaced by costlier versions. This week the Bank of England will decide where they'll go next. Exclusive figures for Money Box have revealed a third of people with a mortgages are overdrawn or have to borrow at the end of the month, meanwhile monthly rents average £1,304 a month. To answer your comments and questions, Felicity Hannah will be joined ..read more
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Loan Sharks and Car Insurance
Money Box
by BBC Radio 4
1w ago
The official body which tackles loan sharks tells Money Box that for the first time in its almost 20 year history it is seeing people turn to loan sharks to pay for essentials like food and fuel. The England Illegal Money Lending Team investigates and prosecutes loan sharks and supports those threatened by them. We report from Blackpool and visit a credit union - CLEVR Money - where people can borrow money legally and at reasonable cost. Why some pensioners may have to pay tax next year on their state pension even if they have no other income. A cost of living payment of £300 will drop into th ..read more
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£1.6m fraud investigation and Help to Buy
Money Box
by BBC Radio 4
2w ago
We investigate the case of Kent Brushes, a hairbrush company founded in 1777, which has had £1.6m stolen by thieves. The money was transferred in 40 separate transactions, all to new payees, in less than 20 minutes. Dan Whitworth reports. And - the difficulties facing people in England who used the government’s Help To Buy loan scheme to get on the property ladder. What advice is there for those affected? Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Sandra Hardial Editor: Jess Quayle (First broadcast 12pm Saturday 21st October, 2023 ..read more
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Money Box Live: Digital Divide
Money Box
by BBC Radio 4
2w ago
Just how much does technology impact your finances? Do you search for the best deals on your laptop or phone? Perhaps you keep track of your money through online banking. As many as 40% of people in the UK feel they cannot keep up with newer technology according to the charity the Good Things Foundation. And not being online can cost you money, over £1,000 a year, according to Hargreaves Lansdown. This week we've been out to meet people learning how to take on tech for the first time and Felicity Hannah is joined by Helen Milner, CEO of Good Things Foundation and Sarah Coles, head of personal ..read more
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Energy debt and Pension Withdrawals
Money Box
by BBC Radio 4
3w ago
This week, the energy watchdog Ofgem released data showing energy debts reached £2.6 billion between April and June. It says the rise in debt was due to both the increase in wholesale energy prices and wider cost of living pressures. We'll get reaction to that figure from Octopus Energy, one of the UK's biggest suppliers. More and more people are taking money out of their private pensions. Between April and June, 4 billion pounds was withdrawn from pensions by more than 500,000 people - 15% more than a year ago. What should you consider before you take money out of your pension? And, two weeks ..read more
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Money Box Live: Saving for Your Send Off
Money Box
by BBC Radio 4
3w ago
A lot of us like to save up for special occasions - a holiday, some home improvements - but, as we grow older, more of us think about saving for the costs that come after we die. In fact, 69% of people make some sort of provision to help with the cost of their funeral, according to the financial services firm Sunlife. And it's a big bill - more than £9,000 if you want a funeral and a wake or even a party afterwards. Today on Money Box Live, we'll be talking about what kind of send off you might want from, woodland burials to tradition services as well as how to pay for it. This week Felicity H ..read more
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Funeral Plans and Energy Credit
Money Box
by BBC Radio 4
1M ago
A funeral plan company with more than 13,000 customers has gone bust leaving thousands of people without the plan they paid for. One Life Funeral Planning Limited was just 1 of around 40 firms which were not approved by the Financial Conduct Authority in July 2022 when it took over regulation of funeral planners. Attempts to find a regulated firm to take over its customers failed and last November its directors put it into administration. What can its customers do? Christine Farnish, a former non-executive director at the energy regulator Ofgem, has told Money Box the amount of credit held by ..read more
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Money Box Live: Cutting Energy Costs this Winter
Money Box
by BBC Radio 4
1M ago
Money Box Live is looking at how to prepare for the cold nights ahead this winter following a year of high energy costs. The Ofgem energy price cap has fallen by 7% to just over £1900. The price cap is the maximum amount your provider can charge per unit of gas and electricity. It is the amount a typical home in England, Scotland and Wales will pay a year, but if you use more, you will pay more. Last year, there was government support to the tune of £400 to help households with rising costs. That isn't coming this year, and standing charges have gone up. It means people may end up paying more ..read more
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Mortgages and Part-time Work for Students
Money Box
by BBC Radio 4
1M ago
The Bank of England has held interest rates at 5.25%, ending a run of 14 consecutive increases. What does that mean for mortgages? We'll also look back one year on from the mini-budget. Hear from Clare Beardmore the Director of the Mortgage Club at Legal and General and Nimesh Shah the CEO of Blick Rothenberg. Nearly half of our universities are now encouraging students to work part time by promoting it on their websites. The Higher Education Policy Institute, which carried out the research, has described it as a major change in the attitude of universities. Dan Whitworth reports from St. Andr ..read more
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