Money Box

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Investing while Brexiting Nov 17, 2018

Show notes

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

Money Box Live: Universal Credit Nov 14, 2018

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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 moneybox@bbc.co.uk or tweet @moneybox

Guests: 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

Free finance textbook for schools Nov 10, 2018

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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

Money Box Live: Making Tax Digital Oct 24, 2018

Show notes

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 moneybox@bbc.co.uk or tweet @moneybox

Guests: 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

Pulling the plug on subsidies for green cars Oct 20, 2018

Show notes

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

Money Box Live: How to Avoid Inheritance Tax Oct 03, 2018

Show notes

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 moneybox@bbc.co.uk, 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 Solicitors

Presenter: Adam Shaw Producer: Sally Abrahams

Money Box Live: Energy Prices Sep 12, 2018

Show notes

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.com

Presenter: Louise Cooper Producer: Sally Abrahams.

Wages more volatile than expected Sep 08, 2018

Show notes

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.

Money Box Live: Electric Cars Jul 25, 2018

Show notes

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 moneybox@bbc.co.uk 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.

Money Box Live: Pension transfers Jul 04, 2018

Show notes

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 Wealth

You can e-mail your pension transfer questions now to moneybox@bbc.co.uk 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.

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