STRAIGHT TO THE POINT

WHEN my wife died, I gave John Lewis a copy of her death certificate to close her account.

However, to refund her £8.44 credit, they want to see a copy of her will. Shouldn’t they just make a cheque payable to the executors of her estate?

D. W., Bristol.

THIS is unnecessary red tape at what is a stressful time.

A spokesman for John Lewis has apologised for any undue upset caused, and the money has been transferred to your account.

John Lewis added it is reviewing its processes. I’M LOOKING to spend some cash on bank shares, but don’t understand why some are more expensive than others.

It doesn’t seem to relate to the dividends they pay or the amount they’re worth. Can you explain?

F. M., Middlesex. SHARE prices are supply and demand. There are limited numbers in issue for each company, so if lots of people want to buy them, the price goes up, and vice versa.

reasons shares may be in demand vary: company news, a prospective merger or a management change.

IS IT true we can give our son £3,000 every year, and can we give it for the previous year if not paid in that year?

Y. L., by email.

YES. every year, you can give a limited amount in cash gifts tax-free. You can give £3,000 a year to each child and if you missed last year’s allowance, you can give that, too.

However, you can’t backdate more than one year, so the maximum you could give your son is £6,000.

CAN my wife claim the new state pension of £148.40 a week? She is 67 and is entitled to only £11 a week of her own pension under the current rules.

J. L., via email. No.

THE new state pension applies only to those reaching state pension age after April 2016. Your wife is already over state pension age and receiving her state pension.

only those with a minimum of 35 years’ National Insurance payments will receive the full amount. You must have made at least ten years’ NI payments to receive something.

I INVESTED money in Secured Energy Bonds Plc, but understand it’s gone bust. Am I likely to get any of my money back?

W. D., Yorks.

UNFORTUNATELY not. The Australian firm behind this bond has, indeed, gone bust, leaving investors out of pocket by £7.5 million. As it’s not a regulated investment, it’s not covered by the Financial Services Compensation Scheme.

If there is no money left in a firm when it winds up, it has nothing with which to pay back its creditors. When investing, you should always ensure a company is regulated and authorised by the Financial Conduct Authority.