Money Box

Automatic pensions are suggested for 18-21-year olds, the best ways to invest your money in 2022, the tax implications of cash inducements - and the rise and fall of cheques. There is growing support to reduce the age at which auto-enrolment pensions start. Currently, the limit is 22 years old, leaving younger people missing several years of contributions. We look at what those extra years could mean in terms of financial support for later in life.2021 was a good year for investors with the FTSE 100. It recovered from a 14.3% fall in 2020 by rising…14.3%. It was the best year for the UK stock market since 2016. But with inflation on the rise, what are the best options for people with some cash to invest in 2022? We get advice from two experts.What are the tax implications of all those cash offers and incentives customers get to switch things like bank accounts? Does HMRC even have to know? We answer one listener’s question about just that.And when did you last write a cheque? A generation ago they were a common means of payment. Even ten years ago they were still used regularly. But with the introduction of internet banking and instant online transfers and payments their use has plummeted. Last year cheques accounted for fewer than one in three hundred payments made in the UK — just 135 million out of a total of 40 billion transactions. So what does the future hold for those small bits of paper?Presenter: Paul Lewis Reporter: Chris Flynn Producer: Dan Whitworth Researcher: Drew Miller-Hyndman Editor: Emma Rippon Studio Manager: Antonio Fernandes Production Coordinator: Janet StaplesEmail moneybox@bbc.co.uk or tweet @Moneybox with questions for the team.

Pyjamas and jumpers are the most unwanted gifts we receive and in the post-Christmas period about 10% of us return at least one gift to the shops.Since we spend about £80 billion over Christmas each year returning even a fraction of that involves a huge amount of money, both for shoppers and the shops.Adam Shaw and guests explore what are our consumer rights. What you can and can’t return? What you need to prove the purchase was made and where a bit of post-Christmas goodwill might help you get a refund and exchange Joining Adam are experts Jemma Cox from Welsh Trading Standards, Martyn James from the free resolution service Resolver, and Andrew Goodacre, CEO of BIRA, which is the leading trade association for independent retailers in the UK. And they hear from shop owners and customers about their experiences.Producer Smita Patel Editor Emma Rippon

Felicity Hannah and guests discuss how to make money from unwanted presents and belongings. And they hear from listeners who sell on, re-gift and rent out.

How we manage financial relationships with the people we care about. whether it be sharing money, lending it or simply having a different view about money from your partner, it can lead to friction or arguments with those closest to us. Felicity Hannah is joined in the studio with Dee Holmes, a counselor from the relationship charity Relate and Julie Flynn, an independent financial advisor & certified financial coach, as well as listeners Mohammed, Ollie, Sarwar and Sally who share their experiences. Producer Smita Patel Editor Emma Rippon

Money Box listener Rebecca found herself caught between two of the UK’s biggest energy firms. After moving to a new home in the summer she changed the supplier from British Gas to EDF. Then a few weeks ago she received bills from both companies, meaning she'd have to pay twice for the gas she’d used once. Rebecca tried to resolve the situation in between her long shifts on an A&E ward but both firms insisted she owed the money and she received a legal threat. Then Money Box stepped in…… This week interest rates rose for the first time in more than three years. What might the increase from 0.1% to 0.25% mean for those savers getting much less than that from their accounts?If you’re planning on buying gift cards for Christmas - spare us a minute of your time first.The Bank of England says it wants to scrap a mortgage affordability rule that aims to prevent people getting into financial difficulty. It’s the one where applicants need to prove they could still make monthly payments if their mortgage interest rate rose to 3% above the lenders’ standard variable rate. A consultation on the change is due to start early next year. Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Charmaine Cozier Production Coordinator: Janet Staples Editor: Emma Rippon

Sixteen years after it appeared as the first of its kind in the world, Zopa has announced it's leaving the peer-to-peer lending business to focus on banking activities. Peer-to-peer matches people who want to lend money with individuals or businesses that need it. What will it mean for Zopa investors, borrowers and the wider industry?A new partnership is set to increase protection for people who are in debt to loan sharks. The collaboration between the Vulnerability Registration Service and the Illegal Money Lending Team will enable utility suppliers, mobile phone firms and other organisations to identify and support more of their vulnerable customers.A married couple have two full state pensions - but one is much higher that the other. We explain why.This week Bank of England Deputy Governor Ben Broadbent warned that inflation in the UK will “comfortably exceed 5 percent” by the spring. Rock bottom interest rates on savings accounts are well below that meaning the spending power of money in them will erode over time. So might investing be the way to protect savings against rising inflation?Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Charmaine Cozier Researcher: Drew Miller Hyndman Editor: Emma Rippon

Buying a home is likely to be the biggest investment of our lives and it’s no wonder that people want to spend money improving it. During lock down, many more of us have been laying our own patios, fixing shelves or employing builders to create the extension that we’ve always dreamt about. Adam Shaw , expert guests and listeners discuss the finances of home improvements. How to negotiating with builders, how much to set aside for contingencies, what to do if you feel the job is not up to standard and how to get your money back if you are not satisfied.We hear the experiences of first time buyer Frances, builder Tomas and DIY shop owner Louis alongside experts Brian Berry, the CEO of the Master Builders Federation. Chloe McCulloch, the Editor of publication & website, Building and Martyn James from the independent, free, issue resolution service, Resolver.Email moneybox@bbc.co.uk to share an experience or with a question for the panel.Producer Smita Patel Editor Emma Rippon

A 26-year-old believes his drink was spiked on a night out and his finger print used to unlock his smart phone allowing thieves to steal £18,000 from his bank accounts. A leading anti-fraud campaigner warns that criminals appear to be adopting the "sinister" tactic of spiking drinks to get money. The Government is asking Parliament to pass a retrospective law which would make it easier to collect tax from higher income people who claim child benefit. The Finance Bill measures stand to override a legal ruling which allowed some households, where someone has income over £50,000, to keep the High Income Child Benefit Charge which they should have paid. Courts had decided that HMRC should not have used discovery assessments, which allow it to reopen closed tax periods and issue bills for previous years, to recover it.Some people on low incomes may find it harder to receive tax credits and other benefits after the way the money is paid changes next year. It's part of a wider government push to get all entitlements paid into bank accounts but debt experts warn that some vulnerable people may not meet the criteria for a bank account.This week Zog Energy became the 25th supplier to collapse. If yours has ceased trading with your account in credit how do you get a refund?Reporter: Dan Whitworth Producer: Charmaine Cozier Researcher: Drew Miller Hyndman Editor: Emma Rippon

Restricting access to money, bank accounts and the right to earn an income are a few of the many and varied forms of financial abuse, often accompanied by other types of domestic violence.Sadly it’s estimated that one in six people in the UK are dealing with this deeply distressing method of coercive control. In this episode Felicity Hannah hears from some of those affected and about the organisations ready to help including:Dr Nicola Sharp-Jeffs, founder and CEO, of the charity Surviving Economic Abuse (SEA) Cris McCurley Partner & Solicitor at Ben Hoare Bell.Producer Smita Patel Editor Emma Rippon

A High Street bank has refunded £145,000 to a man in his eighties after Money Box intervened. Alan was persuaded by thieves to transfer tens of thousands of pounds into what he thought were investments. The money was moved through his account at Metrobank which for many years had seen little activity. But the bank failed to notice large sums being transferred in from his savings and investments and out again almost at once. When a different bank finally blocked the scam, Metrobank only recovered a small proportion of the stolen money before closing the case. Then Money Box intervened and won back for Alan the full amount. We hear from Alan's wife Elizabeth. And from Morven Lean of the Alzheimers Society on how to work with banks to protect relatives with dementia from theft. Plus Kate Frankish of PayUK reveals new ways they're developing to try to cut authorised push payment fraud in future. Also - Dave, who got in touch with Money Box , describes the "black hole" he entered when the Department of Work and Pensions told him part of his salary could be taken to pay off a £1,000 benefits debt. The problem was - he'd never claimed the benefit, didn't owe the money and wasn't told which part of government was poised to take it from him. A year after problems like these were first raised by the programme, Stephen Timms, chair of the Work and Pensions select committee, assesses how well the DWP is fixing them.Plus - Would you borrow half the deposit you needed to buy a home if it meant losing half the profit when you sell it? Presenter: Paul Lewis Producer: Paul Waters Reporter: Dan Whitworth Researcher: Drew Miller Hyndman Editor: Emma Rippon