National Insurance will be cut for millions workers from today.  It'll be cut from 12% to 10% - the lowest main rate for more than twenty years. The government says this cut will save an employee on average earnings around £450 a year. However, some experts including the Office for Budget Responsibility say that gain is far less than the cost of freezing personal tax allowances from 2021 while wages rose.  What will it mean for you? A new set of regulations designed to help victims of fraud should see up to 90% of them get the money stolen from them refunded by their banks. That's according to  Chris Hemsley, who runs the Payment Systems Regulator. He says he hopes the change will encourage the industry to do even more to stop fraud from happening in the first place.  HM Revenue and Customs says it will only take what it calls 'priority calls' on its Self Assessment helpline ahead of the 31st January tax deadline - sending everyone else to its online services.  How will that work in practice? And what parents of small children need to do to apply for the new 15 hours of free childcare. Presenter: Paul Lewis
Reporters: Dan Whitworth, Sandra Hardial and Eimear Devlin
Editor: Jess Quayle  (First broadcast 12pm Saturday 6th January 2024)

National Insurance Cut and Fraud Refunds

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New regulations aim to ensure that victims of fraud are treated fairly, no matter who they trust with their money. 
The financial watchdog, the Payment Systems Regulator, says many firms are not doing enough to refund victims of authorised push payment fraud. Currently the majority of high street banks are signed up to a voluntary charter that makes banks liable for customer losses. However many people hold accounts with firms known as Electronic Money Institutions, or EMIs. Such firms are regulated by the Financial Conduct Authority but do not have a banking licence. The new rules from the Payment Systems Regulator will be mandatory for both banks and EMIs. When they come into force in October they should cover nearly all payments made by individuals in the UK except international ones and those involving cryptocurrency. 
We hear from Money Box listener Carol, who had to spend a year fighting to get the money stolen from her refunded.
New changes to the way ISAs, Individual Savings Accounts, simpler come in this month. Officially they should mean that savers now have the option to open more than one cash or stocks & shares ISA in the same year. We look at whether providers will be allowing customers to take advantage. 
And how do you pay for your car insurance? A new report from the consumer organisation Which? found that it can cost much more if you opt for monthly payments. A survey of 39 car insurance providers found an average APR of over 23% was charged for monthly payments, and the highest APR found was over 39%.  Presenter: Paul Lewis
Reporter: Dan Whitworth
Researchers: Sandra Hardial and Jo Krasner
Editor: Beatrice Pickup (first broadcast Saturday 20th April 2024)

New Fraud Refund Rules and ISA Changes

This week car insurance bosses, appeared in front of MP's as part of an investigation into the cost of premiums. They're continuing to rise and according to price comparison site Compare the Market are up 46% over the last year, making the typical payment for comprehensive insurance £892 a year.  Consumer group Which? say some insurers are charging 'eye-watering' APR rates on those spreading the cost over the course of 12 months. So, we put your questions and comments to the Association of British Insurers who tell us it's been a difficult year for the industry. But it's not just insurance, we're also looking at the cost of fuel, maintenance and of course alternatives to running a car altogether. To answer your questions and comments Felicity Hannah is joined by Rachel Burgess the editor of magazine Auto car and Stuart Masson from online publication, The Car Expert.   Presenter: Felicity Hannah
Producer: Sarah Rogers
Editor: Jess Quayle This episode was first broadcast on Wed 17th April 2024

Money Box Live: Can you afford your car?

Tens of thousands of people who juggle caring for a loved one and having a job may be forced to cut the hours they work, according to the charity Carers UK. In April the National Living Wage was increased to £11.44, but the earnings limit for the Carer's Allowance did not go up by the same amount. The result is that some carers will be limited to working just over 13 hours a week, anything above that and they'll lose the entire benefit. Some carers have also faced demands to repay thousands of pounds that they've mistakenly received in over-payments over multiple years.
You've been contacting Money Box about rising car insurance costs. The Association of British Insurers says increases are largely down to above inflation increases to the cost of repairs, thefts and replacement cars. We look at how much premiums have risen by and what, if anything, you can do about it. 
And employers - take note - new changes to employment law in England, Scotland and Wales this month will impact policies on flexible working, redundancy and paternity pay and leave amongst others. We'll speak to an employment lawyer about what these changes will mean in practice for both employees and employers. 
Presenter: Paul Lewis
Reporter: Dan Whitworth
Researcher: Sandra Hardial
Editor: Dan Whitworth (first broadcast Saturday 13th April 2024)

Carer's Allowance and Car Insurance Costs

Data from the Financial Conduct Authority suggests fewer of us are struggling to pay our bills compared to last year, but the numbers are still high. The watchdog says more than 7 million people were finding it tough to pay bills and make repayments on borrowing at the start of the year, down from almost 11 million last year.  However, despite the drop that's still far higher than before the cost of living pressures really started to bite. Price rises are slowing and energy bills have come down - so this could be a great moment to finally beat your bills back down and build a brilliant budget. In this episode we look at how to save money on your current repayments, budgeting, recovering from debt and hear from a super saver.  Felicity Hannah is joined by consumer finance expert Martyn James and Jay Lowe, Head of Money Advice at Citizens Advice Staffordshire North and Stoke On Trent to answer your comments and questions. Presenter: Felicity Hannah
Producer: Sarah Rogers
Reporter: Neil Morrow
Editor: Jess Quayle This episode was first broadcast on the 10th April 2023.

Money Box Live: Can you Beat your Bills?

National Insurance - a tax millions of working age people pay on their wages - is being cut this weekend, for the second time this year.  The main rate of National Insurance has now fallen by a third - from 12% last year to just 8%.  The Treasury says combined with above-inflation increases to personal tax thresholds since 2010, this will save the average earner over £1,500 compared to what they would otherwise have paid.   What difference will it make to your pay? The debt charity StepChange has told Money Box a third of people they helped last year were behind on their Council Tax payments with an average debt of more than £1,700.  What can you do if you're struggling to pay? Plus, changes to Child Benefit mean it will become available to thousands more families from this weekend - how will that work? Presenter: Paul Lewis
Reporters: Sarah Rogers and Eimear Devlin
Researchers: Sandra Hardial and Jo Krasner
Producer: Craig Henderson
Editor: Jess Quayle (First broadcast 12pm Saturday 6th April 2024)

National Insurance Cut and Fraud Refunds

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