Money Box

Latest Episodes:

£1.6m fraud investigation and Help to Buy Nov 18, 2023

Show notes

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)

Money Box Live: Digital Divide Nov 15, 2023

Show notes

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 finance at Hargreaves Lansdown to answer your calls and questions.

Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle

(This episode was first broadcast 3pm on Wednesday the 18th of October, 2023)

Energy debt and Pension Withdrawals Nov 11, 2023

Show notes

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 Between April and June, 4 billion pounds was withdrawn from pensions by more than 500,000 people - 15% more than a year ago.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 before the deadline to get your paper tax return in, HMRC says it will take three weeks to post the form to you. What are your options if you still need to send one?

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle

(First broadcast, 12pm Saturday 14th October, 2023)

Money Box Live: Saving for Your Send Off Nov 08, 2023

Show notes

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 Hannah is joined by solicitor Gary Rycroft and Julian Ferguson from the Association of Green Funeral Directors.

Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Eimear Devlin Editor: Jess Quayle

(First broadcast 3pm, Wednesday 11th October, 2023)

Funeral Plans and Energy Credit Nov 04, 2023

Show notes

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 energy companies is a "real problem" that needs looking at. It comes after we revealed last week that suppliers held more than £8bn of customers' money in the form of credit on their accounts in the first three months of this year. Ofgem said protecting customers is its top priority and that it encourages suppliers to help customers spread the cost of winter over a full year to help them manage their bills. Previously Energy UK have told us told us at the time this £8.1bn was being held as credit prices were extremely volatile and the level of government help was unknown.

Nearly half a million new 18 year olds have not claimed hundreds even thousands of pounds waiting for them in child trust funds the govt and parents set aside for them. Check here: findctf.sharefound.org And is there a way to tell if you really are investing ethically? A new database may be a step towards that.

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle

(First broadcast, 12pm Saturday 7th October, 2023)

Money Box Live: Cutting Energy Costs this Winter Nov 01, 2023

Show notes

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 this Winter.

So, this week on Money Box Live, we're looking at how what you're doing to keep costs down as well as tips from our experts ranging from how thick your insulation should be to exactly how much it costs to put the oven on.

Matthew Cole, head of the Fuel Bank Foundation, and Madeleine Gabriel, Director of Sustainability at charity Nesta, join Felicity Hannah for this week's programme.

Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Eimear Devlin Editor: Jess Quayle

Energy Credit and Bereavement Support Oct 28, 2023

Show notes

Energy companies are holding on to too much of their customers' money in the form of credit on their accounts. That's according to Angus MacNeil, Chair of the House of Commons Energy Security and Net Zero committee. Money Box has uncovered the total amount of credit being held in the first three months of this year was £8.1 billion. Those figures are from the regulator, Ofgem. Energy UK, which represents energy companies says suppliers are obligated to set direct debits that are, over a 12 month period, estimated to result in a balanced account. It also told us at the time this £8.1bn was being held as credit prices were extremely volatile and the level of government help was unknown. It also said it's not meaningful to compare credit and debt.

Charities say new figures obtained by Money Box show that less than 1 in 4 bereaved parents who were not married have claimed a support payment they became entitled to in February. That was when the government changed the law to give cohabiting parents equal rights with parents who were married or in a civil partnership. The Department for Work and Pensions say it's telling bereaved parents about the backdated benefit via stakeholders, charities and a targeted media and social media campaign. More information on who can claim is available at: www.childhoodbereavementnetwork.org.uk/cohabiting

What you need to know about the self-assessment tax deadline on 5th October.

And, we'll also run through the changes to energy bills coming in on 1st October.

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Luke Smithurst Editor: Jess Quayle

Energy Credit 00:00 Bereavement Support 08:43 Tax Deadline 14:49 Energy Bills 16:32

(First broadcast, 12pm Saturday 30th September, 2023)

Mortgages and Part-time Work for Students Oct 21, 2023

Show notes

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. Andrews.

And what does the rates freeze mean for savers - we'll speak to Anna Bowes the founder of SavingsChampion.co.uk.

Presenter: Paul Lewis Reporters: Dan Whitworth and Sam Clack Researchers: Luke Smithurst and Jo Krasner Editor: Jess Quayle

Mortgages 00:00 Students and Part-time Work 10:26 Energy Report 18:35 Savings and Best Rates 19:29

(First broadcast 12pm, Saturday 23rd September, 2023)

Money Box Live: The Battle Against Rising Bills Oct 18, 2023

Show notes

Inflation has dropped to 6.7% but that doesn't mean our bills will be coming down anytime soon.

The news offers a small amount of welcome relief as the dip means prices are rising slower than they have been.

But inflation is still way off the Bank of England's target of 2%.

This week on Money Box Live we're looking at how to try and lower your personal rate of inflation and cut costs.

Felicity Hannah is joined by Christopher Jenkins a Senior Inflation Statistician from the Office For National Statistics as well as personal finance journalist Martyn James and Lisa Webb from consumer group Which?

Presenter: Felicity Hannah Producer: Sarah Rogers Researcher: Luke Smithurst Editor: Jess Quayle

(First broadcast, 3pm Wednesday September 20th, 2023)

Rationing to pay debts and Bank Account Closures Oct 14, 2023

Show notes

Exclusive data for Money Box suggest that 1 in 5 UK adults have had to ration things like heating or electricity to keep up with their debt repayments. 1 in 8 have changed the food they eat for less healthy options. The survey, carried out by debt charity StepChange, found a third of adults say they are in financial difficulties, but half would be reluctant to contact their lenders to try to sort things out. We'll speak to the CEO of StepChange Vikki Brownridge.

Listeners who run community groups battle their banks over unexplained account closures. What are your rights?

Millions of pounds of Pension Credit has been claimed by thousands of people in London who didn't know they were eligible. A recent campaign saw 8,200 older households in 17 London boroughs receive targeted letters to make them aware that they might be able to get the benefit. As a result there were more than 2,000 successful claims, worth just under £8.4 million.

Plus, Money Box journalism leads to questions being asked in parliament over an energy scheme that thousands of people missed out on.

Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Jess Quayle

(First broadcast 12pm, Saturday 16th Sept, 2023)

00:00 Rationing to pay debts 08:40 Bank Account Closures 14:44 Energy Bills 16:59 Pension Credit

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