Back Billing Continued and Tax on Savings
Summary
Moneybox investigates the controversial practice of energy firms back-billing customers for old debts, highlighting consumer outrage and a new parliamentary inquiry. The episode also uncovers how the DWP requests repayment of state pensions sent to deceased individuals, often without legal obligation, and explains the complexities of paying tax on savings interest amidst rising rates.Episode description
The Chair of the House of Commons Energy Security Committee has told Money Box that the behaviour of the energy firms is "outrageous" following our investigation into so called back-billing. That's when energy firms send out a new bill for gas or electricity which was used more than 12 months before. Last week we reported that thousands of people have complained that is still going on.
Energy UK, which speaks for the big suppliers said if customers think they are being asked to pay for energy covered by the back-billing policy, they should contact their supplier as soon as possible to resolve the complaint quickly and efficiently.
The Department for Work and Pensions asks executors and families to repay state pensions it has sent to people who have already died. It says it asks for it back to protect public funds, but do you have to pay?
And high interest rates means more people paying tax on interest savings, but how do you know and what are the rules?
Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Jo Krasner and Eimear Devlin Editor: Sarah Rogers
(First broadcast 12pm Saturday 8th February 2025)