digital banks

Are tax returns too taxing, why did new overdraft rules backfire, are challenger banks biting and what are the cars that hold their value best? We answer these questions on this week’s This is Money podcast. 

It’s tax return time. The organised will have safely filed their tax returns long ago, but there are still plenty of people who don’t yet feel the last minute has arrived.

But what if you are meant to fill in a tax return and don’t realise?

On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss the ten reasons that people may have to fill a tax return in, even though they are employees paid through PAYE.

The team also discuss whether much of the tax return is really needed, or whether people are needlessly spending time filling in an over complicated form for an overly complex system.

Also on this week’s podcast is the overdraft row that’s blown up on the back of the FCA’s attempt to improve borrowing and bank’s deciding that 39.9 per cent rates sounded about right.

The team discuss whether the challenger banks are starting to bite and why people are attracted to them.

The ten cars that should hold their value best are also revealed, from a Dacia to a Bentley.

But remember that even the best of these will lose you 35 per cent.

And finally, Simon tells us about the new episode of the Making the Money Work podcast with London 2012 Olympic-medal winning boxer Anthony Ogogo.

Santander is to cut the rate of interest customers can earn with its 123 current account.

It will mean one of Britain's most popular accounts will have dropped from a top tier 3 per cent when it launched in 2012 to 1 per cent.

Why has the high street banking giant done this and could it result in an exodus of people moving? Does it signal the end of current accounts with benefits?

It is also capping the level of cashback customers can earn while putting a blanket 39.9 per cent overdraft rate in place – following a similar move from its banking rivals.

Simon Lambert, Lee Boyce and Georgie Frost take a look at what it means for the current account market, whether there are other – better – accounts to switch to and how it managed to become so popular.

Also on this week's podcast, we look at the rise of the buy now, pay later form of credit and whether it is another debt trap to watch out for.

Why have nearly 40,000 people put in retrospective planning applications? And can you really hide a castle behind a haystack…

Lastly, the love affair with car buyers and SUVs shows no signs of abating – sales continue to grow at a faster rate than any other group.

We list the five reasons, allegedly, not to snap one up and whether you should consider an alternative.