A surprising four out of 10 people are unaware of what the TV licence actually covers, potentially paying for something they don't need.
With the cost of a full TV licence now at £169.50 following an inflation increase in April, it's a significant yearly expense - making it essential to check if you really need one, especially with incomes still under pressure.The licence is mandatory for anyone who streams live TV or uses BBC iPlayer, and failure to pay can result in a hefty fine.
However, a survey conducted earlier this year by FCA-regulated credit broker Viva Money revealed that a shocking 43% of UK adults don't fully understand what the TV licence involves.
If your viewing habits mainly involve platforms like Netflix, Disney+, or catch-up services (excluding BBC iPlayer), you might not need a licence at all.This could mean you're able to cancel your payment and potentially claim a refund.
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