Money Box Live broadcasts from Grange Crescent Residential Care Home in Sheffield for a special programme on the cost of care. Unlike NHS services, social care is not free at the point of use. It costs an average of around £60,000 per year to live in a residential care home and considerably more if you need nursing care. Last week the Department of Health and Social Care announced a new review into care costs, but the independent commission tasked with the job will not publish it's final report ...
Feb 05, 2025•28 min
Temperatures have fallen below zero in much of the UK this week, just as gas and electricity prices rose. From New Year's Day the price cap set by the regulator Ofgem on every unit of power we use will mean the price for heating, washing and cooking for a typical household will rise by just over one per cent. A typical bill will go up £21 a year to £1,738. But, that is in fact 10% or £190 lower than the price cap set a year ago. How are people coping with costs this winter? From New Year's Day t...
Feb 01, 2025•25 min
There are 36 million pets in the UK, which doesn't include fish and other aquatics, and the cost of owning one can add up. One of the biggest bills a pet owner can face is the price of taking their animal to the vet. The Competition and Markets Authority launched an investigation earlier this year into whether people are paying too much and whether they are getting information about treatment options. It says the 'unprecedented response' it's had shows the strength of feeling. Aside from that, t...
Jan 25, 2025•25 min
Electricity and gas suppliers say they're offering hundreds of millions of pounds of additional support for customers this winter. Energy prices will rise again on New Year's Day and the latest figures from the regulator Ofgem show customers already owe suppliers a record £3.7bn in unpaid bills. We'll look at what help customers might be able to get if they're struggling to pay their bills. On Thursday the Bank of England kept the Bank Rate unchanged at 4.75%. We'll ask a mortgage broker what bu...
Jan 18, 2025•24 min
Almost half of us are making money from side hustles according to the comparison site, Finder. But how do they work, what do you need to do if you have one and when do you need to tell the tax office? We will be meeting those using their hobbies to boost their bank balances this Christmas as well as clearing up the rules around selling on online platforms. Joining Felicity Hannah is Helen Thornley from the Association of Tax Technicians and Vicks Rodwell of IPSE, the association for self-employe...
Jan 15, 2025•28 min
Some councils in England are offering vouchers or money directly to pensioners who've lost out on the Winter Fuel Payment this year. The money is being offered as part of the Household Support Fund, which is money given by the government to local councils to use to help residents who're struggling with essential bills, like energy and food costs. Winter Fuel Payment can be £200 or £300, but this year it's means tested, meaning millions of people will no longer get it. Money Box has found that so...
Jan 11, 2025•24 min
The British public is expected to donate close to £3bn to good causes over the festive season according to research from the Charities Aid Foundation. If you are giving this year, how can you make sure all of your money gets to your favourite charity or if the charity is even real? We'll be considering the different ways to give and giving advice on how to avoid scams as well as hearing from some charities about how they're faring. Felicity Hannah is joined by David Holdsworth, CEO of the Charit...
Jan 08, 2025•29 min
Around 9 out of 10 charities have told a new report they've had at least one issue with banking in the past two years. The Charity Finance Group and National Council for Voluntary Organisations spoke to almost 2,000 charities in the UK and found more than three quarters had struggled to change the named signatories on their bank account and 4 in 10 said that the checks they were asked to complete weren't designed for voluntary organisations. We'll speak to one of the authors of that report and g...
Jan 04, 2025•25 min
Almost a million women are trapped in dangerous relationships because of economic abuse, figures from a dedicated charity suggest. Economic abuse is now a legally recognised form of domestic abuse. It could include not allowing access to cash or bank accounts or the things money buys like food and clothing. The charity Surviving Economic Abuse reports that 1 in 7 women in the UK have experienced this kind of control and coercion at the hands of a partner and we know that men can face it too. Fel...
Jan 01, 2025•28 min
A new report about the UK’s main financial regulator was published this week, concluding the Financial Conduct Authority is "seen as incompetent at best, dishonest at worst." The report was put together by the All Party Parliamentary Group for Investment Fraud and Fairer Financial Services, which is made up of cross-party MPs and members of the House of Lords. They spoke to victims of financial scandals who lost money in frauds and heard testimony from people who worked, and some who still do wo...
Dec 28, 2024•25 min
More than 800,000 people have called a dedicated fraud line, which connects them with their bank if they think they’re being scammed, since it started 3 years ago. Stop Scams UK, which set up 159, says 20 banks are now part of the service. We'll hear from a woman who called the number after losing £4,000 in a scam and find out more about how it works. Complaints about the wealth manager St James Place have risen sharply amid a major historical review of the ongoing fees it charged its customers....
Dec 21, 2024•25 min
A record number of people in England and Wales are getting help with the cost of their water bills. The number of people on low incomes who have been given a reduction in their bill grew last year by 250,000 to 1.6 million. They are called 'social tariffs' but newly released data from the Consumer Council for Water shows the amount people get varies widely depending on where they live. Water UK, which represents the water industry, says these are average figures with eligible customers able to r...
Dec 14, 2024•25 min
New research estimates that there are more than 3 million lost pension pots in the UK. These are pensions that have been paid into by an employer but the scheme can no longer find the person who owns it. The Pensions Policy Institute research also found number of lost pots has risen more than 17% since 2022. The Department for Work and Pensions told us millions of people will be saved from losing track of their pension pots thanks to its plans to consolidate deferred small pots in its forthcomin...
Dec 07, 2024•25 min
Wednesday saw the first Budget from a Labour government for nearly 15 years and the first ever delivered by a female Chancellor. Rachel Reeves wasn't the first to stand up in the Commons and announce tax rises, but the scale of them was large by historical standards - about £40bn a year by 2029/30. The bulk of that will come from raising National Insurance contributions paid by employers. There will also be higher rates of Capital Gains Tax, VAT on private school fees, changes to Inheritance Tax...
Nov 30, 2024•25 min
The Chancellor, Rachel Reeves, has announced her Budget but what does it mean for yours? Money Box Live is breaking down what the Budget mean for your finances, from pensions and Inheritance Tax to the cost of a pint. We hear from the experts who are on hand to answer your questions and comments. Felicity Hannah is joined by Dr Arun Advani, Professor of Economics at the University of Warwick and Kirsty Stone a partner at the independent financial advisers, The Private Office. Presenter: Felicity...
Nov 27, 2024•29 min
There are just a few days to go until Rachel Reeves stands up in Parliament to deliver her first Budget as Chancellor. Since the Labour Party won the election in July, there's been a huge amount of speculation about what she might do to plug what she calls a 22 billion pound black hole left by the previous government. The Treasury says it does not comment on speculation around tax changes outside of fiscal events. But what tax changes might she make and how are people already preparing? Figures ...
Nov 23, 2024•25 min
More than half a million young people are yet to claim their Child Trust Fund which could be worth up to £2,200 according to the government, but how do you know if your child has one or even how to get it? Plus with the Chancellor's budget on the way, we know parents are topping up Junior ISAs and giving away monetary gifts ahead of any changes she might make. So, today we're looking at how to build a solid financial future for the children in your life and how to help get them get engaged when ...
Nov 20, 2024•29 min
It was a big week for carers as the Government announced an independent review into Carer's Allowance overpayments after families were told to pay back thousands of pounds, often pushing them into debt. The review will look at what happened, but in the meantime the Department for Work and Pensions has told Money Box it will continue to collect almost quarter of a billion pounds it says it's owed from more than a hundred thousand carers. We hear from Karina who cares for her 22-year-old daughter ...
Nov 16, 2024•25 min
Each year it’s estimated that £23 billion worth of help and support – from housing benefits to pension credit – goes unclaimed according to Policy in Practice. We look at the kind of help that is available, and hear from listeners on their experiences trying to claim the benefits they’re entitled to, as well as who might be able to get money off their childcare or broadband bills. Presenter Felicity Hannah is joined by a panel of experts who answer your questions on how to make the best of the a...
Nov 13, 2024•29 min
The Government is writing to 120,000 people aged 66 or more encouraging them to claim the means-tested benefit pension credit, which will also entitle them to the winter fuel payment. The letters will go out from next month to people the Department for Work and Pensions has identified as likely to be entitled following a targeted trial scheme last year. Also on the programme, a leading debt charity calls for the way council tax debt is collected to be reformed, and why do millions of renters not...
Nov 09, 2024•25 min
Buying a home is legendarily one of the most stressful events in life so today on Money Box Live we're going to try to take some of the pressure off by talking you through how it should work. Obviously there's much more to it than finding your dream house and a lot that can happen between viewing a property and getting the keys. We talk to first-time buyers on the property hunt in Stockport in Greater Manchester, and our panel of experts, Simon Gammon, Head of Finance at Knight Frank and Beth Ru...
Nov 06, 2024•28 min
In a special programme broadcast live from the Atrium in Quay House at MediaCityUK, Paul Lewis discusses a momentous change in the way banks treat customers who have money stolen from their bank accounts by what is called Authorised Push Payment Fraud. In 2023 a record number of people lost hundreds of millions of pounds to thieves who tricked them, manipulated them and then drained their bank accounts. On October 7th new rules will come into force which mean nearly all transfers will be covered...
Nov 02, 2024•25 min
This month the new government will reveal its plans for the nation's finances in the Budget. We've been told 'difficult decisions' lie ahead as the Chancellor Rachel Reeves seeks to plug what she says is a £22bn black hole left by the previous government. There's been plenty of speculation around Capital Gains Tax, Inheritance Tax and pensions tax relief - but what are they and who pays them? Our email inbox has been full of questions from listeners - so on this weeks Money Box Live we will be a...
Oct 30, 2024•28 min
A new report given exclusively to Money Box is calling for more help for working families on Universal Credit. The University of Bath’s Institute for Policy Research wants the government to raise earning thresholds for extra help like free school meals, NHS prescriptions, council tax support and NHS dental help. The government says it's committed to supporting low-income families by extending the Household Support Fund by £421 million. It also told us its commitment to reviewing Universal Credit...
Oct 26, 2024•25 min
Across the UK freshers are heading off to university, many leaving home for the first time and most of them are paying for at least some of that with their student loans. Graduates in England leave university with average debts of around £48,500 according to the Student Loans Company. Tuition fees vary depending on where you live in the UK. Last year students in England were told they'd be paying back their loans longer than the graduates who came before them. So, this week we're looking at how ...
Oct 23, 2024•28 min
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 tariff...
Oct 19, 2024•25 min
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 lot...
Oct 16, 2024•29 min
Hundreds of thousands of disabled pensioners will be unfairly impacted by the cut in Winter Fuel Payment, according to two leading charities who've spoken exclusively to Money Box. Disability Rights UK and Age UK have both told us that disabled pensioners often have higher energy bills because of medical needs and sharp cuts to the number of people receiving the payment will disproportionally affect them more than others. The government says it's committed to giving pensioners the dignity and se...
Oct 12, 2024•25 min
Figures given exclusively to Money Box Live show that almost two-thirds of people who called the National Gambling Helpline had gambling related debt. So what are the options and what support is available? This week Felicity Hannah speaks to those affected by gambling, either themselves or through a family member. Joining her to talk about it are Nicholas Hill from the Money and Pensions Service which is sponsored by the Department for Work and Pensions and Raminta Diliso Head of Gambling Relate...
Oct 09, 2024•29 min
Hundreds of millions of pounds has been made available from the government for local authorities across the UK to spend on those most in need of financial help. Known as the Household Support Fund it's made up of £421 million for councils in England with another £79 million for devolved nations. Dan Whitworth meets Sam, who's 28 and got help from the fund via Stockport Disability. A new report analysing the finances of people on low incomes who apply for loans has found a third were declined bec...
Oct 05, 2024•25 min
