This is Money Podcast
About
Available on
Community
521 episodes
* The row over small deposit mortgage is the gift that keeps on giving. Hot on the heels of the Budget plan that never appeared arrives Yorkshire Building Society's new deal, that's been dubbed a 99 per cent mortgage. But is it really one of those and does it have any redeeming features? And if it's cheaper than you rent, is there anything wrong with taking a 99 per cent mortgage? On this week's This is Money podcast, Georgie Frost and Simon Lambert talk tiny deposit mortgages, negative equity and buying vs renting. Plus, gift card draining scammers, can your pension last retirement, and finally, where are the experts investing their Isa and how can you easily sort yours?
* There is less than a fortnight to go before the end of the tax year and that means it's time to sort your Isa, pension and finances before it's too late. With another tax raid on the way for investors on capital gains and dividends, this is one of the most important tax year ends in years. On this special bonus episode of the This is Money podcast, Simon Lambert talks to Rob Morgan, of Charles Stanley Direct, to find out what investors need to do and why sorting your pension and Isa can save you a substantial amount in tax.
* The Bank of England held interest rates again this week as inflation dropped once more. So, are we out of the woods yet? Will inflation keep coming back down towards target and the Bank of England soon seamlessly switch back to cutting rates? Or will central bankers be keen to hold onto higher rates, even if we get hit by a bout of disinflation? On this week’s podcast, Georgie Frost, Lee Boyce and Simon Lambert look at WHAT NEXT FOR INFLATION AND INTEREST RATES /money/mortgageshome/article-13219881/Bank-England-holds-rates-5-25-means-mortgages-savings.html and what it means for your money. Also on the episode, should the Waspi women who saw their state pension age rise rapidly be compensated for the poor communication and how much of a victory was this week’s PARLIAMENTARY OMBUDSMAN WASPI REPORT A VICTORY /money/pensions/article-13222927/Victory-WASPI-women-Ombudsman-compensation-scheme.html for them? As that happened, MORE NEWS EMERGED ON UNDERPAID STATE PENSIONS /money/pensions/article-13223101/DWP-tracks-half-billion-pounds-state-pension-underpayments-latest-count-shows.html – as exposed by our Tanya Jefferies and pension columnist Sir Steve Webb, and the team update us on that. Plus, what’s going on with the chaos at HMRC and who is to blame for the failure to keep up with our increasingly tricky tax system. And finally, MEET THE SCAMBAITERS /money/beatthescammers/article-13209865/Were-not-caped-crusaders-Meet-scambaiters-beating-fraudsters-game.html – we find out what they do and why.
* Jeremy Hunt bounced around delivering his Budget on Wednesday, proudly declaring his commitment to tax cuts and supporting working families. Another 2p was chopped off National Insurance and the threshold at which child benefit is removed was raised from £50,000 to £60,000. But you don’t need to be a financial expert to know that the Chancellor’s version of events isn’t quite the whole story. Because Mr Hunt is also presiding over a long-term stealth tax freeze to thresholds that is costing workers dear and his child benefit move merely kicked sky-high marginal tax rates down the road, rather than getting rid of them altogether. Nonetheless, a tax cut and an extra £5,000 Isa allowance – even if it’s a slightly iffy, limited one – is not to be sniffed at. So, was this an escape velocity Budget that puts Britain back on the path to growth? Or was it too little, too late, from a Tory party that has sported successive Chancellors who have been keener to raise our taxes by hook or by crook rather than cut them – or even just keep thresholds in line with inflation. On this week’s Budget special This is Money podcast, Georgie Frost, Lee Boyce and Simon Lambert look at the winners and losers and go searching for the devils in the detail. What is the NI cut worth to you? Will you get some child benefit back? Did pensioners deserve a tax cut too? With a failure to reverse his capital gains and dividend tax raid, what has the Chancellor got against small investors? And will the British Isa be any good? All that and more – plus a look at why Nationwide is buying Virgin Money and whether that’s good or bad for us all.
* On this bonus episode of the This is Money Podcast, Simon Lambert is joined by Charles Stanley Direct’s Lisa Caplan and Garry White for a quick run through what was in the Budget. Investment experts Lisa and Garry talk us through the main Budget points and what they mean for people. Join us on Friday for the full Budget episode where the This is Money Podcast team will dissect Jeremy Hunt's plan and reveal the devils uncovered in the details.
* The debacle over widespread errors in the state pension that This is Money and Sir Steve Webb uncovered, continues. * As of the end of October last year, DWP had paid out just under half a billion pounds to more than 80,000 people who’ve been underpaid. But what about those who have died? This week, Tanya Jefferies, Lee Boyce, Angharad Carrick and Georgie Frost reveal the case where a letter was sent to the daughter of an 100 year-old man three years after he passed away, stating he had been unpaid state pension for two decades. * Yet, despite the letter – months later, she was left hanging on what the DWP was actually going to do about it. * And still on the state pension front, people continue to complain of top-ups chaos as the Government gets ready to launch a new online service next month. * Sir Steve is calling on DWP and HMRC to get in more staff. You don’t need HMRC to have more staff to answer your call, oh no! You just need to be a VIP. Apparently there is a helpline, also known as Public Department 1 (PD1) which answers calls nine times quicker. We explain more. * On the savings front, the FCA is launching a campaign to encourage savers to shop around – and if you rushed to sign up for a one-year fixed-rate cash Isa this time in 2023, Lee explains why you must act. * Optional and mandatory service charges at hospitality venues – Georgie, Ang and Lee give their verdict. And finally the price of bitcoin jumped beyond $60,000 this week. What’s behind the latest cryptocurrency surge?
* It's finally happened. After months of will-we, won't-we speculation, the UK economy has finally succumbed to recession. The ONS revealed this week that a drop in GDP in the final three months of 2023 meant that Britain had racked up two consecutive of negative growth - and thus the dreaded R word is here. But is this a bad one, why does the term 'technical recession' keep being bandied about and do these backward-looking figures mask things already getting better? On this week's podcast, Georgie Frost, Helen Crane and Simon Lambert look at what recession means for the UK and you. Plus, who are the villains among big banks and building societies when it comes to sky-high standard variable rates for mortgage borrowers and is it them or the customers themselves to blame if somone ends up paying almost 10 per cent interest? Also on the show, the customer turned down for a switching bonus by HSBC because they had a Midland account 21 years ago. And finally, electric car sales aren't growing as fast as the government or car makers want. Does that mean it's time to drive a bargain?
* In this special bonus This is Money podcast episode, Simon Lambert speaks to easyJet founder Sir Stelios Haji-Ioannou. Sir Stelios tells the story of how he launched easyJet his easyGroup of companies - and how allowing others to build companies using the easy brand works. He also explains why he is backing entrepreneurs under the age of 35 with his Stelios Philanthropic Foundation awards and giving away £150,000 to the successful winner.
* The cost of a comfortable retirement has jumped over the past year - but what do you need to get one and will you get there? As the Pension and Lifetime Savings Association updates its annual look at how much income people need for a basic, moderate or comfortable retirement, Georgie Frost, Lee Boyce and Simon Lambert take a look at what this all means for you. If a comfortable retirement costs a couple £59,000 a year and a moderate one £43,000, which one do you have a chance of achieving - and are there any important bits being left out of the costs? The team look at the cost of retiring, why it might not be as expensive as it first looks, how to invest for retirement and what sort of back up the state pension will provide. Plus, why our real top rate of income tax is 60 per cent - and it's not the highest earners hit by it on their next pay rise - and is there any hope that Jeremy Hunt will be the Chancellor who finally does something about it. The case for not just cutting stamp duty but getting rid of it altogether. And an interview with a modern-day business legend. Simon speaks to easyJet and easyGroup founder Sir Stelios Haji-Ionnou about how he started the airline and built it up and his Young Entrepreneur awards.
* The Bank of England held base rate once again at 5.25 per cent https://www.thisismoney.co.uk/money/mortgageshome/article-13028685/Bank-England-holds-rates-5-25-means-mortgages-savings.html, the fourth hold in succession – but this time, it was a genuine split by MPC members. So, when will we start seeing rates fall – and will inflation really be at the target 2 per cent by April? This week, Simon Lambert, Lee Boyce and Georgie Frost discuss what another interest rate pause means for you – and what that means for savings and mortgage rates, along with investors. Where do you stand on the smart meter debate? With This is Money readers getting in touch to say they’re stuck with faulty devices https://www.thisismoney.co.uk/money/bills/article-13028313/I-no-inclination-smart-meter-says-LEE-BOYCE.html, are they worth having? Lee says he still has no plans to get one of the marmite devices while Simon believes they can be worth it, especially for those who are rubbish at submitting meter readings. We also go back to school and have a maths lesson from Mr Lambert to reveal the six real world calculations you should have in your arsenal to improve your financial health. https://www.thisismoney.co.uk/money/pensions/article-11644599/Six-maths-lessons-learn-richer.html And we get on the money therapist’s couch to discuss the pitfalls of getting - and over-using - a joint bank account https://www.thisismoney.co.uk/money/saving/article-13032487/My-husband-resents-splashing-joint-account-making-miserable-Money-psychotherapist-VICKY-REYNAL-replies.html… should a partner ever be made to feel guilty for spending?
* Britain's disposable income has dropped substantially over the past 14 years compared to where it should be, according to a new report this week. The Centre for Cities said that the average household's disposable income has fallen £10,000 behind where it would have been if pre-2010 growth rates had been maintained. On average we have got better off, but we are well below what would have been expected. So what is the problem? Why aren't we getting richer quicker and why are we falling behind our international peers?
* The Government wants us to get heat pumps fitted in our homes and it's offering up to £7,500 for us to do so. Now Worcester Bosch is bumping that up by an extra £2,500 - if you pick one of theirs of course. But with the devices cost between £8,000 to £30,000 to buy and fit, would it tempt you? Georgie Frost, Helen Crane and Lee Boyce reveal all... and talk the 'boiler tax'. Is inflation back on the rise? How worried should we be by the latest figures? And where next for interest rates? And millions face a big price hike for their mobile and broadband from March. Isn't it time these inflation-busting mid-contract increases were banned? Also today…following campaigning by This is Money for years for fair treatment for parents who do not qualify for child benefit, parents denied state pension credits WILL get them. Tanya Jefferies explains all you need to know. Tanya also talks about a bungled handover to a new administrator that has left BAE Systems retirees suffering drastic cuts of up to 50 per cent in their pensions. And Crane is on the Case, this time over a robot vacuum cleaner...
* After a good year for Premium Bonds when the only way was up for the prize fund rate, savers got a blow this week as a cut arrived. The prize fund rate is being cut to 4.4 per cent from 4.65 per cent. That edges the average return - which you may or may not get - from Premium Bonds further below the best savings deals, so should you save instead? Or would many Premium Bond holders be better off investing? On this podcast episode, Georgie Frost, Lee Boyce and Simon Lambert discuss whether Premium Bonds stack up. Plus, as the US securities regulator aproves bitcoin ETFs, is the price now headed for $200,000 as some suggest, or could this be enticing more naive investors into the volatile world of crypto that's been dogged by fraud? Later, Lee reveals his car insurance woes - and shares tips on how to deal with your own renewal quite pain. And finally, find out who on the podcast team is not drinking for January, who is taking an extremely haphazard approach to it, and who is planning to go all the way to Easter, as we discuss the no and low-alcohol beer boom and the ones we rate the best.
* Have you ever sold anything on Ebay, Vinted or Facebook Marketplace to make a bit of extra cash? Those who do may have been worried this week, as news that the websites will now be required to REPORT SELLERS' ACTIVITIES TO THE TAXMAN https://www.thisismoney.co.uk/money/savemoneymakemoney/article-12922689/Will-HMRC-really-come-selling-old-clothes-unlikely-youll-taxed.htmlcaused panic online. So what are the rules - and is HMRC really going after people who sell the odd frock or mobile phone? In this week's episode, Lee Boyce, Helen Crane and Georgie Frost explain what's really happening, how to tell if you are a 'trader' - and why most people having a clear-out of their old clothes won't need to worry. Mortgage lenders have started 2024 with a bang, with the likes of HSBC, NatWest and TSB announcing rate cuts left, right and centre. There is now a five-year fix with a rate of 3.94 per cent - so what does that tell us about how low the base right might go this year, and WILL THESE CHEAPER HOME LOANS START TO DRIVE UP HOUSE PRICES AGAIN https://www.thisismoney.co.uk/money/mortgageshome/article-12926527/As-lenders-cutting-fall-mortgage-rates-drive-house-prices.html? As we get back to reality after the festive break, we are also approaching Divorce Day. The first working Monday of the year is supposedly when unhappy couples are most likely to call it quits. If that is you, we are on hand to explain what you need to know about SPLITTING YOUR PROPERTY, PENSION AND MORE WITH AN EX https://www.thisismoney.co.uk/money/bills/article-12922827/Getting-divorced-clean-fair-financial-break.html. Finally, Lee, Helen and Georgie discuss what they learned about their finances in 2023 - and the mistakes they won't be making again this year.
* The Bank of England has reached the peak with interest rates in this cycle. That's the firm view of the markets and most analysts, despite three members of the nine-strong Monetary Policy Committee disagreeing and voting for a rate hike this week. The question has now shifted from how high will rates go, to when will they be cut? The boldest predictions are for more than 1 per cent to be shaved off the base rate next year. Does that fit with THE BANK'S 'HAWKISH HOLD' OF THE BASE RATE https://www.thisismoney.co.uk/money/markets/article-12864237/BoEs-hawkish-tone-forces-market-rethink-rate-cuts.html this week? On this podcast, Georgie Frost, Lee Boyce and Simon Lambert look at what next for interest rates both here and in the US - and whether markets are running away with themselves. Plus, two years after they finally started to properly rise what does heading back to a point where rates may fall mean for borrowers, savers and investors? Also on this week's show, IS IT BETTER TO USE THE CENTRAL HEATING OR AN ELECTRIC HEATER https://www.thisismoney.co.uk/money/bills/article-12850441/Is-cheaper-use-electric-heater-instead-putting-central-heating-on.html, THE 'BETTER' PLAN FOR A STATE PENSION TRIPLE-LOCK REPLACEMENT https://www.thisismoney.co.uk/money/pensions/article-12855415/Replace-state-pension-triple-lock-new-guarantee-IFS.html, and the reasons Lee wants you to get in touch. And make sure you listen to find out why the team want to know how long your kettle takes to boil...
* We love the idea of transforming our homes so much that an entire cottage TV industry has sprung out of it, ranging from Grand Designs, to Ugly House to Lovely House and Your Home Made Perfect. For Jaemi and Roly Glancy sketching out how they could renovate their properties turned into a start-up helping others envisage what they could do with theirs. In this bonus podcast episode, Simon Lambert of This is Money, speaks to Roly about how they started the business and where it's going.
* What drives you mad about going to the supermarket? * Is it self-service tills, scanning receipts to get out, loyalty scheme dual pricing, or prices being hiked well above inflation? * Many of us want to support bricks and mortar retail, but there are times when shops seem to mainly be involved in testing our patience. * In a week in which the competition watchdog fired a broadside at the consumer brands giants for pushing up prices, a practice dubbed ‘greedflation’ and sounded a warning to Tesco and Sainsbury’s over Clubcard and Nectar Prices, the This is Money podcast team head down the shops. * Georgie Frost, Lee Boyce and Simon Lambert discuss what’s good, what’s bad and what really gets their goat. * Plus, will a new online fraud charter make any difference? * The team discuss investing legend Charlie Munger and financial crisis Chancellor Alistair Darling, who both died this week. * And finally, what makes a house price hotspot – we look at the UK’s top 30 this year.
* The Autumn Statement was the definition of a mixed bag. There was a National Insurance cut, but the stealth income tax raid continued. The Isa system got an improvement, but the allowance remained frozen. Meanwhile, the triple lock was delivered along with a pension pot-for-life plan but inheritance tax remains firmly uncut at 40 per cent, with all its weird quirks intact. So, was that an Autumn Statement to fire Britain on to growth, as the Chancellor claimed, or a damp squib? On this week’s podcast, Georgie Frost, Tanya Jefferies, Helen Crane and Simon Lambert dive into the details to reveal what the Autumn Statement means for you and the economy. From the Office of Budget Responsibility forecasts, to being allowed multiple Isas and the seemingly mad plan of allowing family homes to be easily converted to flats, the team take the measure of Jeremy Hunt’s plans. And they look ahead to whether there will be more tax cuts to come in the Budget – and whether Britain’s stealth tax and marginal tax trap mess will ever get sorted.
* The Autumn Statement arrives next week and the rumour mill has gone into overdrive. The idea of it being a simple update on the economy seems to have been abandoned and instead there is talk of an Isa overhaul, tax changes, and even inheritance tax being cut from 40 per cent to 20 per cent. But if you were Chancellor for the day, what would you do? On this week's podcast, Georgie Frost, Lee Boyce and Simon Lambert look at what could be on the cards as Jeremy Hunt stands up and delivers his Autumn Statement next week. On the agenda: __ __
* We all know pensions are important but most of us rarely engage with them. Yet, with a little bit of time and effort, you can get your work pension working as hard as possible for you - and at some point in the future you will be very glad you did so. On this episode of the This is Money podcast, Georgie Frost, Lee Boyce and Simon Lambert talk pensions: why you should start early, the reason that it involves free money, how to invest for a richer retirement many years down the line and much more. Also on the agenda, what happens if you get stuck in a mortgage with your ex, why is Lee so annoyed at a sneaky insurance tax that swiftly adds up and can M&S's sales and share price resurgence continue? And finally, listen to the end if you want to find out where Lee buys his socks and Georgie gets her underwear.
* Have interest rates peaked? After an inflation spike rudely awoke them from their slumbers, the Bank of England and the US Federal Reserve have shown us that rate hiking can be a difficult habit to break. But 14 consecutive rate rises into an astonishing run from 0.1 per cent to 5.25 per cent for the base rate, the Bank of England suddenly paused six weeks ago. And then, on Thursday, it did it again. On both of those occasions, the Fed had also just done the same thing across the Atlantic. So, are we finally there? When does a pause become a peak? And if we have reached the top of the interest rate cycle, what happens next? On this episode of This is Money podcast, Georgie Frost, Helen Crane and Simon Lambert look at the decision to hold rates again and what it means for savers, mortgage borrowers and investors. Plus, what are Andrew Bailey’s Bank of England and Jay Powell’s Fed telling us about their respective economies – and how divergent are the paths of the UK and US? Also on this episode, Crane on the Case digs into a how an entirely explainable and obvious error somehow led to a reader facing more than £8,000 of fines and Transport for London refusing to budge… until we stepped in. Plus, some previous high-flying investment trusts are going cheap, so is this the time to invest? Simon takes a look. And finally, what have the Premium Bonds and a pop quiz on number one hits in 2000 and 2008 got to do with each other? Listen to the end if you want to find out why you need to know that the UK number one in February 2008, was Duffy singing Mercy.
* Wages are up, but inflation is… the same. What does it all mean for mortgage rates, the state pension, benefits and the economy generally? One thing we know won’t be affected by the latest figure is income tax bands. Just how much is the big freeze – AKA fiscal drag https://www.thisismoney.co.uk/money/bills/article-12644069/How-frozen-income-tax-bands-cost-average-worker-following-Septembers-inflation-reading.html - going to cost us? * That’s on the agenda for Simon Lambert, Lee Boyce and Georgie Frost this week as the latest CPI reading stuck at 6.7 per cent. https://www.thisismoney.co.uk/money/bills/article-12412155/What-inflation-falling-means-you.html * At the start of the year, Prime Minister Rishi Sunak set the target to halve inflation by the end of 2023. And it was looking promising. But this latest inflation figures might have thrown a bit of spanner into the works. What’s going on at Royal Mail? https://www.thisismoney.co.uk/money/bills/article-12636967/Royal-Mail-delivering-post-week-say-furious-households.html Some households say they are only receiving their post once a week. Hospital appointment letters, birthday cards, parcels and important bills have all gone missing in delays caused by a staffing crisis. In Brighton, households say they’re receiving mail as infrequently as just once a fortnight. * Picking an estate agent to sell your home is so important. A good agent will make finding your buyer seem like a breeze. * Choose the wrong one and it can cause untold stress, drag the whole process out and you could end up being forced to reduce your asking price and ultimately sell for less. So how do you pick a good ‘un? https://www.thisismoney.co.uk/money/mortgageshome/article-12614889/What-ask-estate-agent-Nine-key-questions-picking-sell-home.html And just what is gazundering https://www.thisismoney.co.uk/property/article-12649043/Gazundering-fears-rise-buyers-pressure-sellers-accept-money.html – and why is it back with a vengeance? The new Tesla Model 3 arrives on our fair shores in January https://www.thisismoney.co.uk/money/electriccars/article-12639225/New-Tesla-Model-3-arrives-Britain-January-improved-range-excess-400-miles-heres-cost.html - but how much will it cost and is it any good? * If it proves to be out of your budget range what about Citroen's new e-C3 https://www.thisismoney.co.uk/money/electriccars/article-12639623/Citroen-new-eC3-affordable-EV.html, set to start from around £17,000 And…range anxiety is real - so would you take an EV on a continental road trip? https://www.thisismoney.co.uk/money/electriccars/article-12623617/I-took-family-holiday-France-BMW-electric-car.html Paul Barker, motoring journalist of decades, gave it a go and diarised it for you...
* House prices will continue to fall, says an influential poll of estate agents. The latest survey by the Royal Institution of Chartered Surveyors found that buyer demand is declining https://www.thisismoney.co.uk/money/mortgageshome/article-12618565/House-prices-fall-according-Rics-estate-agent-survey.html and fewer homes are coming to the market. Meanwhile, Halifax’s latest house price figures show a £14,000 drop https://www.thisismoney.co.uk/money/mortgageshome/article-12601155/House-prices-fallen-14-000-summer-Halifax-says.html compared to the recent peak in August 2022 and 4.7 per cent fall in the year to the end of September, the largest since 2009. So, how much further could they fall and are buyers in danger of trying to time the market? Will there be a big pause before a general election next year? Georgie Frost, Simon Lambert and Lee Boyce discuss the age old favourite of house prices. This week has also seen the Bank of England sound the alarm over 35 year mortgages https://www.thisismoney.co.uk/money/markets/article-12615981/Bank-England-sounds-alarm-number-homeowners-taking-35-year-mortgages.html – should we be concerned? Skipton Building Society launches a headline mortgage rate of 3.35 per cent https://www.thisismoney.co.uk/money/mortgageshome/article-12610559/Skipton-BS-launches-two-year-fixed-mortgage-rates-low-3-35-theres-BIG-catch.html. What’s the catch? It comes as its rival Nationwide has new best buy home loan rates https://www.thisismoney.co.uk/money/mortgageshome/article-12615235/Nationwide-cuts-mortgage-rates-offering-two-best-buy-deals-5.html. Could mortgage deals continue to fall? And we look at the top up-and-coming areas for first-time buyers https://www.thisismoney.co.uk/property/article-12614793/Top-10-coming-areas-time-buyers-according-Halifax-Hull-Ipswich-Middlesbrough-making-cut.html: Does your area make the cut? Spoiler: it features Hull, Middlesbrough and Ipswich. * DIY investors went on a gilt-buying spree in September https://www.thisismoney.co.uk/money/diyinvesting/article-12618711/Investors-piled-129-000-five-gilts-paying-little-0-125-tax-free-boost.html - shunning the stock market and savings accounts. * The UK government bonds were paying as little as 0.125 per cent last month – so why were they getting involved? * Hargreaves Lansdown is launching a basic, no-frills pension https://www.thisismoney.co.uk/money/pensions/article-12615471/Hargreaves-Lansdown-launches-basic-Sipp-pension.html for those who want an easy way to invest for retirement but aren’t quite sure how to get started. * They are the first Sipp provider to give details after regulators said they had to offer customers a 'default' option by the start of December. Will it make Sipps sexy enough to the self-employed? * Shrinkflation, bogus loyalty card savings and variable prices in supermarkets https://www.thisismoney.co.uk/news/article-12612165/Shoppers-retailer-scams-shrinkflation-loyalty-card-savings-prices-research.html... we’re fed up with the lot of them. Are you?
* Inflation is easing, food prices are coming down from their peak and the energy price cap dropped last weekend. But you are still paying around 10 per cent more for your groceries now than last year, petrol prices are rising, mortgage rates are still high, and you may end up paying more for your gas and electricity this winter too. But how is that possible? This week, Angharad Carrick, Georgie Frost, Lee Boyce and Helen Crane tackle energy bills and look at who might be paying more in the next three months https://www.thisismoney.co.uk/money/bills/article-12592809/Will-energy-bills-higher-winter-households-face-paying-despite-price-cap-falling.html. And when it comes to water bills, some firms are looking at charging 44 per cent more https://www.thisismoney.co.uk/money/bills/article-12588581/Water-bills-set-soar-44-2030-extra-water-firm-wants-charge.html over the next seven years. Why? Crane on the Case this week tackles a parking charge issued after someone waited too long in a McDonald’s drive-thru queue. https://www.thisismoney.co.uk/money/cars/article-12592549/I-got-parking-ticket-waiting-McDonalds-drive-CRANE-CASE.html Despite that, Helen managed to get a positive result – but why are so many parking charges being dished out every day, and where is the promised government help to stop it happening. Lee gives you a run through of another busy week in the world of savings and banking. NS&I has pulled its best buy one year fix paying 6.2 per cent https://www.thisismoney.co.uk/money/saving/article-12601505/NS-kills-best-buy-fixed-deal-paying-6-2-cent-just-five-weeks-bond-rates-fall.html; NatWest has a secret top 5.2 per cent easy-access deal https://www.thisismoney.co.uk/money/saving/article-12592917/Simple-trick-best-buy-easy-access-savings-account-5-2-NatWest.html; Moneybox is offering the top cash Isa of 5 per cent https://www.thisismoney.co.uk/money/saving/article-12584215/Best-buy-easy-access-pays-5-app-provider-Moneybox.html; and Starling Bank is now offering to pay you for having a current account https://www.thisismoney.co.uk/money/saving/article-12575503/The-current-account-pays-Starling-Bank-dish-3-25-balances-5-000.html. It’s also been a hairy week for Metro Bank https://www.thisismoney.co.uk/money/markets/article-12601533/Metro-Bank-share-price-stage-cautious-rebound-Heres-customers-need-know.html – but we explain why FSCS has you covered. And finally…the list of the UK's 'perfect' retirement locations has been revealed https://www.thisismoney.co.uk/money/pensions/article-12584681/Would-retire-Outer-Hebrides-List-perfect-later-life-locations-revealed-surprising-areas-included.html - and there are some surprising names on it, including the Outer Hebrides. Consumer group Which? has taken retirees' wish-lists for their later-life locations to work out its own grouping of the 12 top places to spend your golden years. But does it tally up to what you think is a perfect retirement location?
* It’s been called the most hated tax in Britain - but only four per cent of people pay it. You could be forgiven for thinking inheritance tax is something only the super-rich need to worry about. But thanks to rising house prices and an increasing desire to transfer wealth between generations, more and more people are being drawn into the net. It happens not only when someone is left property or other assets from someone's estate, but also when they accept a gift from someone who passes away before the 'seven year rule' tax exemption kicks in. The IFS says that that four per cent could become 12 per cent within a decade. And many of those who will never pay inheritance tax still hate the idea that the Government is taking a big cut of the wealth people have worked hard to build up over their lifetime. So it might come as welcome news that Rishi Sunak is reported to be considering cutting the tax, or even scrapping it altogether, as a potential vote-winner ahead of the next election. What’s wrong with inheritance tax, how could it be made fairer - and could the Government really just get rid of it? Simon Lambert, Helen Crane and Georgie Frost discuss. That’s not the only plan the Government is said to be hatching for our finances. It’s also reported that Chancellor Jeremy Hunt wants to increase the £20,000 annual allowance for saving into an Isa - but only for those who use it to invest money into companies listed on the ailing London Stock Exchange. The team consider what puts people off stocks and shares Isas, whether the rules are too restrictive for the way we manage our money today, and whether encouraging people to pour money into a market which has had a bit of a tough time of late is a good idea. Plus, it’s a year since the disastrous mini-Budget which rocked the mortgage market. With a raft of reductions from big lenders this week, could rates on home loans finally be turning a corner now the base rate has been put on ice? And finally, we discuss whether the time might finally have come to commit to a fixed rate on your energy bills.
