More than 40% of people are not entirely sure about what the TV licence actually covers - meaning many may not realise they don't even need one.
As of April, the licences now cost £169.50 - a significant sum added to other annual expenses.It's vital, therefore, to check if it's really necessary for your household.
The licence is mandatory for anyone who watches live TV or uses BBC iPlayer, and failure to pay could result in a hefty fine.However, a survey conducted earlier this year by FCA-regulated credit broker Viva Money found that some 43% of UK adults don't fully understand what the licence entails.
Those who primarily use platforms such as Netflix, Disney+, or catch-up services (excluding BBC iPlayer) might find they don't need a licence at all.This could mean they can cancel their payments and potentially reclaim their £169.50.
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