Money saving expert urges brits to ‘check and challenge’ bills, uncovering potential savings of £1,000s

In his latest money-saving revelation, financial guru Martin Lewis has disclosed a game-changing strategy to cut monthly bills by a staggering 50% while potentially unlocking substantial refunds. Lewis highlights the often-overlooked aspect of council tax payments, urging Brits to reassess and challenge their current bills.

During his ITV show, Lewis pointed out that over 400,000 people could be in the wrong council tax bands, potentially leading to significant overpayments. To determine the correct band, he advises viewers to utilize the government’s online band checker by entering their postcode. If one finds themselves in a higher band than their neighbors, the next crucial step involves checking the property’s value in 1991, a key factor used by the government in determining council tax bands.

Lewis acknowledges the peculiar nature of this check but emphasizes its significance in avoiding potential pitfalls. Numerous free online tools are available for the “valuation check” to ensure accuracy. If both the online tool and the valuation check indicate overpayment, Lewis advises contacting the local authority to rectify the situation.

The financial expert emphasizes that challenging council tax without the proper checks may inadvertently raise neighbors’ bills without securing a reduction in one’s own. However, if the checks reveal overpayment, contacting the local authority could lead to a back-dated payout, offering potential savings for individuals and even their neighbors.

Highlighting success stories, Lewis recounts Patrick and Helen’s experience, where diligent checks and communication with the council resulted in a £1,755 rebate and a reduced monthly bill from £245 to £200. Their neighbors also benefited, receiving substantial rebates and a year of exemption from council tax.

In addition to these insights, Lewis reminds viewers of available council tax reductions for low-income households, pension credits, and benefit recipients, who can apply for reductions of up to 100%. Special provisions exist for households with severe mental impairments, offering a 50% discount, while adults living alone may enjoy a 25% reduction. Notably, students are exempt from paying council tax altogether.

In tonight’s show, Lewis unveils a “rule of thumb” capable of slashing household bills by £500 and shares a 3-step method to bring phone bills down to an astonishingly low £3.50. As the Money Saving Expert continues to empower individuals with practical financial advice, viewers are encouraged to reassess their council tax payments and potentially unlock significant savings.