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Money Box

Author: BBC Radio 4

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The latest news from the world of personal finance plus advice for those trying to make the most of their money.
102 Episodes
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Are fraudsters getting away too easily?
The inconsistent manner in which police forces in England and Wales investigate reports of fraud is leaving victims 'confused and disillusioned.' That's one of the findings in a report by the watchdog Her Majesty’s Inspectorate of Constabulary and Fire and Rescue Services. Money Box listener Emma lost her £25,000 new home deposit after criminals hacked emails between her and her solicitor in order to divert and steal the money. She feels let down by the police and her bank. Guest HM Inspector of Constabulary Matt Parr. What needs to happen for you to achieve the life you desire? How much money is enough money? Just a few of the questions likely to be asked by a lifestyle financial planner as they cashflow model your future. Julie Lord, Chief Executive of Magenta Financial Planning, explains what it involves. A report from Gingerbread, the charity for single-parent families, highlights concerns over the operation of one of the Child Maintenance Support payment methods called Direct Pay where parents manage payments between themselves. Guest: Sumi Rabindrakumar who wrote the report for Gingerbread. This week the Financial Conduct Authority issued a warning for people considering putting their cash into Innovative Finance ISAs (IFISAs). It says mini-bonds or peer-2-peer investments "may not be protected by the Financial Services Compensation Scheme so customers may lose the money invested or find it hard to get back." It follows the collapse of London Capital & Finance. More than 11,000 people invested £236m with the failed mini-bond provider. Reporter: Dan WhitworthPresenter: Paul Lewis Producer: Charmaine CozierEditor: Richard Vadon
London Capital & Finance. The report.
Money Box reporter Dan Whitworth analyses the main findings from the administrators' report into London Capital & Finance. The high-risk mini-bond provider collapsed in January but not before it had taken £236m from 11,650 people. Many of them were first-time investors who thought their money was going into fixed rate ISAs. The cash they put in came from pensions, inheritances and life savings.From April the Financial Services Compensation Scheme (FSCS) limit for regulated investments rises to £85,000 from the current £50,000. Guest Mark Neale, Chief Executive of the FSCS. As this year’s Council Tax bills arrive, are you eligible to reduce yours with a discount, exemption or help from a Council Tax Reduction scheme? Guest: Caroline Siarkiewicz,, Director and debt advice expert at the Single Financial Guidance Body. NHS consultant James Bailey explains how the annual allowance taper affects his finances and working life. The taper was introduced in 2016 and affects people with income over £150,000 including pension savings. For every £2 of income over £150,000, the annual allowance reduces by £1, to a minimum of £10,000 a year. If an individual’s income is less that £110,000 a year, excluding all pension savings, then the annual allowance taper doesn't apply. Guests: Josephine Cumbo Pensions Correspondent for the Financial Times and John Ralfe, an Independent Pensions Consultant. Reporter: Dan WhitworthPresenter: Paul Lewis Producer: Charmaine Cozier
Smart meter only energy tariffs
Over 13 million smart meters have been installed in the UK. By the end of December next year gas and electricity suppliers will be expected to have taken "all reasonable steps" to roll them out to domestic and small business customers. One of those steps involves offering cheaper tariffs to customers - but only if they agree to have a smart meter installed. There's no legal requirement to have one so is it an unreasonable step too far? Guests: Lawrence Slade, Chief Executive at Energy UK and Joe Malinowski, founder of energyscanner.com To what extent does the way we bank affect the way we spend, or don’t spend, our money? Guest: Abi Adams, Behavioural Economist at the University of Oxford. The Serious Fraud Office has opened an investigation into individuals linked to London Capital & Finance. The failed high-risk mini-bond provider entered administration in January, but not before over 11,000 people had trusted it with £236m of their cash to invest in what they were told were fixed-rate ISAs. They now stand to get 20% of their money back at best.Annuities are a retirement income product bought with some or all of your pension pot. The insurance and pension provider Prudential is currently transferring around 400,000 policy holders to Rothesay Life following the sale of its portfolio to the annuities specialist. Guest: Billy Burrows, Retirement Director at specialist pensions adviser Better Retirement who explains the underlying security behind annuities and how they are protected if the provider changes. Reporter: Dan WhitworthPresenter: Paul LewisProducer: Charmaine CozierEditor: Richard Vadon
Investment ISAs
In his first budget speech for the new Labour government chancellor Gordon Brown announced the 1999 introduction of individual savings accounts. The idea was to encourage the habit of putting money away, especially those who had never saved before. Twenty years later, there are more types available. We look at non-cash ISAs with Mark Polson, Founder of The Lang Cat financial services consultancy. Money Box reporter Dan Whitworth looks into warnings sent to the Financial Conduct Authority years before it took action against London Capital & Finance plc. LCF entered administration in January. By that time over 11,000 people had put £236m into high risk mini-bonds. At best they might only get around 20% of their original investment back.Laura received a letter from the Department of Work and Pensions asking for £625 of benefits it had placed into the bank account of her deceased grandmother. Laura's only involvement was to register the death. There was no will and no executor. The few assets her grandmother had went towards meeting funeral costs. The DWP confirmed to Money Box that there's no legal obligation to return a benefit direct payment of this type and if the recovery letter it sends is ignored, it will not pursue the amount. It also confirmed there are no plans to reimburse Laura the £625 she struggled to raise to pay it. Guest: Adam Sym, Probate Executive, Stephensons Solicitors. The exit fees charged by investors who want to move from their current online platform, and the difficulty many face in doing so, is the subject of the latest market study from the FCA. What might change for investors and do the proposals go far enough? Presenter: Paul LewisReporter: Dan WhitworthProducer: Charmaine CozierEditor: Richard Vadon

Investment ISAs

2019-03-1600:25:203

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Comments (3)

Yên Mai

yes tank

Apr 20th
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Madan Johan Madan

Very good

Oct 29th
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Firoz Khan

Good

Sep 7th
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