Money Box

Latest Episodes:

The Cost of IVF May 25, 2022

Show notes

How much would you pay to increase your chances of having a baby? Would you travel abroad? Borrow money or ask family for help?

The use of private IVF clinics is soaring and prices for a cycle of treatment can reach over £10,000. Felicity Hannah chats to Jess, Steve, Peter and Pragya.

And our expert panel responds to their questions and experiences.

Panel:

Tone Jarvis-Mack – Chief Executive – Fertility Foundation

Kayleigh Hartigan – Founder – Fertility Mapper

Katherine O’Brien - Associate Director of Communications and Campaigns – British Pregnancy Advisory Service

Ukrainian refugees struggling to open UK bank accounts May 21, 2022

Show notes

Ukrainian refugees are now beginning to arrive in Britain under the Homes for Ukraine Scheme. Money Box has been contacted by two host families having difficulty helping their guests open UK bank accounts. Karina, a doctor, escaped from Kyiv and with her mother and her 5 year old daughter. They then travelled 1,700 miles to London. They are being hosted by Roger Corke and his family. They need a bank account to get benefits and give them some financial independence. We'll hear about their experiences and get a response from the banks and the government.

Energy company bosses have been grilled in Parliament this week by MPs unhappy about price rises that critics are warning could push millions of people into fuel poverty by the end of this year. Also discussed at the same meeting was the issue of credit balances - when suppliers hold onto customers' money above and beyond what they actually owe. We'll hear from a listener about that and discuss plans by the energy regulator Ofgem to put in place more regulation to protect credit balances.

Also, one listener's experience of opening a new bank account and his shock at realising he also had access to three accounts from another couple. We'll investigate that.

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

Saving Money but not on Chocolate May 14, 2022

Show notes

Energy bills, the big food shop, the price of filling up the car - everything costs more just now and there’s no sign it’s going to change soon.

Felicity Hannah and guests ask where can you look for cheaper options, to make our money go further, but still have some fun?

She is joined in the studio by expert deal hunters who promise not to suggest cutting back on Easter eggs.

Bukiie Smart, accountant and the creator of the Save Spend Invest. Claire Walsh, a chartered financial planner. And journalist & money saver extraordinaire Mike Powell.

Producer Smita Patel Editor Emma Rippon

Small Businesses and Scams May 11, 2022

Show notes

Scams are on the rise and small businesses are no safer from fraudsters than consumers. And in some cases, businesses are being scammed by their own customers.

Action Fraud, the UK’s national reporting centre for fraud and cyber-crime, say that one in four small businesses are affected by fraud every year, with costs to businesses estimated at early £19 billion.

How do entrepreneurs keep their budding business safe? What should companies do to protect their data? And when it all goes wrong, who can help small businesses?

Louise Cooper hears from Shara, Raoul and Louise about their experience of scammers targeting their businesses.

And she’s joined by our expert panel:

Paul Meskall - Manager of Fraud & Cyber Crime Prevention - UK Finance

Dr Roger Barker - Director of Policy and Corporate Governance - Institute of Directors

Gary Rycroft - Partner - Joseph A. Jones & Co.

"A special place in hell for crypto fraudsters" May 07, 2022

Show notes

The Government announced plans this week to impose more regulation on firms where people legally buy and sell bitcoin. One major crypto platform where people do this is called Kraken - which is where 77-year-old Graeme moved more than half a million pounds which thieves then stole. Graeme was robbed of his savings, his car, and his house by thieves who manipulated him to buy cryptoassets. We hear from Curtis Ting, a Managing Director of Kraken.

In an extreme case of council tax arrears, we hear from Robert who has just received his first council tax bill after 24 years living in the same house. The London Borough of Barnet is demanding more than £30,000 in arrears. So what's going on? And does Robert have to - finally - cough up? We hear from barrister Alan Murdie who specialises in council tax, and edits the Council Tax Handbook for the Child Poverty Action Group.

Thinking of claiming a Working From Home tax rebate? Listen to this first. HM Revenue & Customs has told Money Box it will be launching a consultation this year to find new ways to tackle repayment agents who charge people for claiming routine tax rebates which they could claim free themselves. If you go via an agent, it could take half your pay out in fees. Money Box reporter Dan Whitworth investigates, and we also hear from technology journalist David McClelland.

Presenter: Paul Lewis Producer: Paul Waters Reporter: Dan Whitworth Researcher: Marianna Brain Production Coordinator: Janet Staples Editor: Emma Rippon

06/04/2022 May 04, 2022

Show notes

Millions of households are facing a £700 a year rise in fuel costs from now with the increase in the energy price cap. This comes on top of other hikes in the cost of living like council tax and more expensive food bills. How are people coping now the cap has been lifted? An expert panel gives advice.

Expert panel

Dhara Vyas - Policy, Advocacy & Campaigns Energy UK

Abby Jitendra - Principal Policy Manager on Energy, Citizens Advice

How to get £150 for your fuel bill Apr 30, 2022

Show notes

Welcome to April, the season of rising prices and higher taxes - including the largest increase in energy bills. The first of two payments to help with those bills should arrive this month - a £150 rebate paid by local councils to all householders in Great Britain in council tax Bands A to D. (In Wales and Scotland the money will also go to Band E-H householders who benefit from council tax reduction schemes.) For those who pay council tax by direct debit, getting the money should be straightforward. But as Money Box's Dan Whitworth reports, others - including students - may find it more difficult. We hear from Abby Jitendra, principal policy manager for energy at Citizens Advice.

What's going on at the pensions and insurance company Scottish Widows? Listeners ask Money Box for help with very long delays in accessing money and problems with funeral plans. We hear from Kirsty Stone, independent financial adviser at The Private Office.

From Wednesday 6th April, divorce will be easier in England and Wales. No more will one partner have to prove fault by the other. No more will a 2 or even 5 year separation be needed. It can all be done in 6 months, online and without the courts. And the same for ending a civil partnership. But is this too hasty to sort out financial arrangements? We hear from Jo Edwards, Head of Family at Forsters Solicitors.

More than £1.5 billion in pension credit went unclaimed in 2020 leaving up to 850,000 pensioner households short. We hear from Henry Tapper, of the Pension Playpen, about a new initiative from inside the pension industry to tackle the problem that a third of the pensioners who need this extra money don’t get it.

Presenter: Paul Lewis Producer: Paul Waters Reporter: Dan Whitworth Researcher: Marianna Brain

Young People and Money Anxiety Apr 27, 2022

Show notes

The cost of living crisis is fuelling valid fears about personal and household finances - but what happens when money anxiety gets out of control? Many young people worry about their own and their family's finances, but what can they do to conquer the fear? We hear from Iona Bain, musician turned financial author who specialises in millennial personal finance. She founded Young Money Blog after suffering with money anxiety herself. And we also hear from Sharon Davies, CEO of Young Enterprise, the national charity providing enterprise and financial education to young people up to the age of 24.

Presenter: Bukiie Smart Producers: Paul Waters, Maggie Latham & Drew Miller Hyndman Production Coordinator: Janet Staples Editor: Emma Rippon

Inflation and the cost of living crisis Apr 23, 2022

Show notes

Inflation is the rise in the price of everything we buy. This week the Office for Budget Responsibility predicted prices would rise more than 7% this year, peaking at nearly 9% this winter. We hear from Isabel Stockton of the Institute of Fiscal Studies, on tax changes and the worst inflation most people have ever seen.

Some very vulnerable people are facing an even worse cost of living crisis than the rest of us. The amount of money that working age disabled adults are allowed to keep from their benefits - the "minimum income guarantee" - has been frozen for 7 years, even though prices have risen. Money Box reporter Dan Whitworth investigates. And we hear from a family affected, and from Jackie O'Sullivan, Executive Director of Advocacy for the learning disability charity Mencap.

The Chancellor is raising the income level at which employees start paying National Insurance. From July, anyone earning less than £12,570 will not pay NI contributions. How will this affect your state pension at retirement age?

Money Box has reported sad stories of people who are manipulated by thieves into investing in what they thought was cryptocurrency. Most retail banks follow a code intended to ensure that victims are refunded where they are groomed into transferring their savings to crooks. However, banks often refuse to refund the money stolen by these psychological techniques. But one bank, TSB, refunds almost everyone. We hear from Paul Davis, TSB's Director of Fraud Prevention.

And a major funeral plan provider, Safe Hands, goes bust with too little money to honour its promises. What faces their 45,000 customers now?

Presenter: Paul Lewis Producer: Paul Waters Reporter: Dan Whitworth Researcher: Marianna Brain Editor: Emma Rippon

Spring Statement 2022 Apr 20, 2022

Show notes

The chancellor, Rishi Sunak, gives an update on the health of the UK economy. What will it mean for your household finances?

A panel of experts will analyse what he says and we want to hear your thoughts too. Are you cheered or concerned by the state of the nation's finances? And how will it affect the way you spend or save your hard-earned cash? Also, looking ahead to the new tax year, we'll discuss the tax rises which begin in April and the outlook for our personal finances over the next twelve months.

Guests:

Heather Self, Corporate Tax Partner, Blick Rothenberg

Mike Brewer, Chief Economist, The Resolution Foundation

Laura Suter, Head of Personal Finance, A J Bell

Presenter: Paul Lewis

Producer: Drew Hyndman

Editor: Emma Rippon