Original Broadcast: This is Money
The Bank of England has cut interest rates again, but this time, the decision wasn’t straightforward. Georgie Frost, Lee Boyce and Helen Crane ask what the division in the Monetary Policy Committee tells us about the state of the economy right now, and what the cut means for our money. We also talk about plans to hit those in wealthier areas with bigger council tax bills. Why is the current system so unequal, and how could your area be affected? Helen discusses a water company who told an elderly couple they needed their pipework replacing at a cost of thousands — when in reality, all they needed was a new water meter (which is given away for free). Finally, Lee explains who can claim from the car finance scandal - and what to do if you can't find the paperwork.
Guests: Helen Crane
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Original Broadcast: This is Money
While the average household pays £16,700 in direct tax on income, our audit shows this is just the tip of the iceberg. We all pay a multitude of other taxes, from air passenger duty to environmental levies on our energy bills. Lee Boyce, Simon Lambert and Georgie Frost discuss what the total sum is - and that our tax rate is more like 57%. And tax rises don't always bring in more cash for the Treasury coffers. As the Government weighs up introducing yet another tax — this time a wealth tax — we explore why despite the allowance being slashed the capital gains tax take is down and what it means for the Chancellor's plans. How much you need to feel wealthy in different areas of Britain? Does £1 million still cut it? The six burning questions everyone is asking financial advisers right now… and their expert answers. And we answer a reader query: 'Could I give £250 gifts to 400 people who then pay them to my daughters to beat inheritance tax on £100,000?'
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Original Broadcast: This is Money
The slashing of the cash ISA was considered a nailed on certainty in next week's Mansion House speech, but now it seems Rachel Reeves has had a change of heart. So, has the cash ISA allowance been saved for good, or is this just a victory for now — before the axe falls in the Budget? Georgie Frost and Lee Boyce discuss what next for the cash ISA and whether there was any merit in plans to cut the allowance. Plus, why has Nvidia become the world's first $4 trillion company, is it still worth investing in and have you got any chance of finding the next stock market superstar before it takes off? Should you combine your finances with your partner's and reveal all to them? And finally, it's the polarising question of our times: are you for or against Ring and other video doorbells?
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Original Broadcast: This is Money
Georgie Frost, Simon Lambert and Lee Boyce consider how your money has been impacted by the first 12 months of the Labour Government: the good, the bad and the ugly. It's now looking almost inevitable that the limits on Cash ISA investment will be cut, and the team look ahead to the prospect of more tax rises on the way. Meanwhile, the IFS plans to sort out the state pension, and they discuss a key question for those looking to move home: what's putting people off buying your house?
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The nation's favourite savings product has just got a little less generous. The prize rate on NS&I's supremely popular Premium Bonds will be slashed from 3.8% to 3.6% from the August draw — the fifth cut since March 2024. Helen Crane, Tanya Jefferies and Georgie Frost discuss why Premium Bonds are the Marmite of the savings world, and ask whether the latest cut will prompt devotees to jump ship. We also look at where else they could stash their rainy day fund - and keep the tax-free benefits. Elsewhere, the team ask why a Lloyds Bank customer was turned away from the counter when they asked to withdraw £600 in cash - and told they could only do it at the machine outside. We also hear from a reader who has a moral dilemma. They are having £40,000 of work done on their home, and the builder has asked them to pay in cash. It seems there may be some creative accounting at work — but our reader hasn't been told that in so many words, and it could of course be perfectly above board. Could they get in trouble if it does turn out the builder is evading tax? Will the bank ask questions? And can you even take out that much money in one go? Next, Tanya discusses the latest number crunching which reveals that opting out of your work pension in your twenties, even for five years, could leave you £40,000 poorer at retirement. With younger people's budgets stretched in many directions, paying into a pension isn't always a priority. So how can they ensure they save enough for a comfortable retirement, and is it possible to make up for lost time? Finally, we look at what most people would spend the money on if they received an inheritance — or at least, what they say they would spend it on.
Guests: Helen Crane,Tanya Jefferies
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Original Broadcast: This is Money
Georgie Frost and Simon Lambert go back to basics in this episode, steering clear of all the heaviness in the news. They set out some thoughts to help with reviewing your finances: to name some of the areas they cover — budgeting, savings, investing, tax, and Wills.
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What would you do with £208 million? Ahead of another Euromillions rollover, This is Money spoke to an adviser to those fortunate few who have scooped a jackpot to get some practical tips on what to do if you win big…just in case! Would friends and family be top of your list when it comes to how to spend it... or something else? Lee Boyce, Simon Lambert and Georgie Frost discuss. Simon turns his focus on The Big Winter Fuel u-turn and the spending review – 'pray for Rachel and all of us', he says. We borrowed too much to buy our home - what can we do about our huge mortgage? And an auction expert revealed the four types of property that savvy buyers are snapping up right now.
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Original Broadcast: This is Money
Nationwide hands out its £100 'fairer share' payment for the third year running, while Selfridges encourages new customers with a range of perks. Georgie Frost, Simon Lambert and Helen Crane discuss these, and Simon then looks at what £10,000 invested in Nvidia shares at various points in the past would be worth today. Finally, the team discuss a contentious question: 'Is my wife putting off buyers?'
Guests: Helen Crane
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Original Broadcast: This is Money
What would you do with a £50,000 windfall? Exclusive research shows that many people would be too nervous to invest it. Georgie Frost, Simon Lambert and Lee Boyce discuss this, and they draw your attention to the pension inheritance tax trap. They also consider the leaked plot to raise taxes still further and the winter fuel payment u-turn. Simon speaks with the CEO of regulator OFGEM, and finally — Mastercard are to pay out £100m to their customers. Could this include you?
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Original Broadcast: This is Money
How long did you take looking round your home before you put an offer in for it? The average prospective buyer spends just 43 minutes. Surprise, surprise, research suggests that it pays to take your time. Georgie Frost, Simon Lambert and Lee Boyce talk about what should be on your checklist before you take the plunge and buy a property. Should you go by vibes alone, or do you really need to kick the tyres? And when you do buy, what happens if the seller leaves junk like a mouldy fridge, a grimy washing machine and a stained sofa? We reveal all. Buy-to-let has taken a battering in recent years — but there are still pockets of Britain where investors are finding a decent yield. Cash ISAs are back in the spotlight with a review likely to come in July — how likely is it that they will be tinkered with? And will news-defunct furniture brand MFI will return after twenty years; what stores would you like to see make a comeback?
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