Money Box

People are missing out on nearly two billion pounds' worth of discounts on water bills and broadband, according to Citizen's Advice. Social tariffs give lower prices to people on low incomes, but the charity says there's a "postcode lottery" when it comes to what people can get. The government says more than 1.3 million households in England and Wales benefitted from £200m worth of help with water bills in 2022/23 and that it's working with broadband providers to raise awareness of social tariffs. Industry groups say many customers choose low-cost broadband over social tariffs and the number of households getting help paying for water should double by 2030.

How might the Chancellor change tax relief on pensions in the upcoming budget?

More than 11 million people used Open Banking in July - that figure was up by 12 percent on the month before. We'll discuss how it works.

And, have you been affected by a scam? Ahead of a special programme on October 5th we'd like to know your experiences - email [email protected].

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Emma Smith Editor: Jess Quayle

(First broadcast 12pm Saturday 21st September 2024)

Fancy earning interest on a £10,000 loan? We’ll find out about what negative interest rates mean for consumers in Denmark and what might happen if they were introduced here. Felicity Hannah talks to Niels Arne Dam, Chief Economist at Finance Denmark and Paul Pester, former CEO of TSB and currently the chair of research and ratings agency Fairer Finance.

Women’s finances have been hit harder than men’s by the Covid crisis, so could that risk a widening wealth gap and how do we fix it? Maike Currie, investment director at Fidelity Investments and Professor Annamaria Lusardi, head of the Global Financial Literacy Excellence Center at The George Washington University School of Business have some ideas.

And, if you’re eating too much chocolate this weekend then you’re not alone! But can that tell us anything about how you plan your pension, your investments, your savings? Or does it just mean you like chocolate? Felicity talks to Dr Pragya Agarwal, a behavioural data scientist and Claire Walsh, a chartered financial planner.

Researcher: Jonelle Awomoyi Production Co-ordinator: Janet Staples Sound Engineer: Graham Puddifoot Producer: Ben Carter Editor: Emma Rippon

There are nearly 70,000 children in the UK who are in foster care.

Foster carers main concern has to be the children they look after, including many who have experienced neglect and trauma. But they are self-employed, so there are also financial considerations, from allowances and fees, to tax returns and receipts.

In this programme we'll hear from charities, foster carers and care leavers. We'll also discuss new analysis from the Fostering Network, which found foster carers face a post code lottery when it comes to fees they’re paid.

Foster carers are given an allowance to pay for clothes and food - but they're also usually paid extra on top to recognise their time and skills. Those fees aren't fixed though, and local authorities can each individually decide how much to award.

Using freedom of information requests the charity found 60% of local authorities across the UK are paying foster carers the equivalent of less than £5 an hour based on a 40 hour week. Local Authorities are given funding from central government and the devolved nations – the told us they are reviewing support for foster carers.

Felicity Hannah, is joined by Sarah Thomas, Chief Executive of The Fostering Network and Brenda Farrell, Head of Fostering at Barnardo's.

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

(This episode was first broadcast at 3pm on Weds 18th Sept 2024).

Adam Shaw looks at dementia and money.

Producer Smita Patel Editor Alex Lewis

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)