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 last week. And finally, what makes a house price hotspot – we look at the UK’s top 30 this year.
Adam Cox is in conversation with Guy Smith from Independent Tax, exploring the legal obligation for digital platforms like Airbnb, Etsy, and Vinted to report their sellers' earnings to HMRC starting January 1, 2024. The discussion delves into the specified thresholds for reporting income and the retrospective assessment period that HMRC can undertake. Additionally, Guy provides insights into the steps the public can take if they have concerns about potential tax liabilities or unreported earnings. https://independent-tax.co.uk/
In the old days we either telephoned someone for a quick answer to a question, or sent a letter which focused the attention of the recipient. Now huge volumes of emails fly across the net, and we're left waiting days for an answer. It may be cheap, but is it productive? Also — People think that debit cards are as safe as credit cards or direct debit authorities — until something goes wrong. And, if it's a continuous payment authority given to an overseas supplier, there's very limited protection available, beyond FCA guidance. Background music: 'Communicator' by Reed Mathis
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%, 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? 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% to 20%. But if you were Chancellor for the day, what would you do? 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 their agenda: Stealth tax - will the income tax thresholds freeze end? Inheritance tax - will the rate be cut to 20%? ISAs - will the allowance be boosted and the system improved? Savings - could the personal savings allowance get a rise?
Adam Cox is in conversation with Giles Dickson, CEO of WindEurope, exploring the connection between onshore wind restrictions and the escalating electricity bills. The discussion delves into the potential economic advantages of easing these restrictions and examines the associated environmental implications. Giles provides insights into how wind energy can contribute to meeting environmental targets and outlines the necessary steps for the UK to align with these goals. Additionally, the conversation explores the prospect of international collaboration for offshore wind development. https://wind europe.org/
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. 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.
Adam Cox is in conversation with Kirsty Anderson, M&G Wealth's Pension & Saving Specialist. They delve into the findings of a recent M&G Wealth-commissioned report that underscores a noticeable decrease in households engaging in financial discussions. The conversation revolves around the crucial financial topic’s families should be addressing, emphasising the significance of having these conversations at the present moment. Kirsty sheds light on the barriers hindering open discussions about finances within families and offers valuable tips on fostering openness among loved ones regarding money matters. https://www.mandg.com/
Adam Cox is joined by Matt Dronfield from Debt Free Advice to discuss the charity's pop-up advice centres throughout the capital, offering practical money tips as part of Talk Money Week. They delve into the current debt crisis in the UK, discussing its scale and the key contributing factors. Matt also sheds light on Talk Money Week's purpose and guides individuals on where to seek help if they are concerned about their financial situation. https://debtfreeadvice.com/
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% to 5.25% 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? 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.
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