FabSwingers.com forum: Do you have to tell HMRC

By (user no longer on site) OP
over a year ago

If you put cash into a bank account?

Asking for a friend

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

Depends how you got the cash

Reply privately

Reply in forum

Reply +quote

By *adame 2SwordsWoman
over a year ago

Victoria, London

why wouldn't you?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Depends how you got the cash"

So depends on what I tell them?

Reply privately

Reply in forum

Reply +quote

By *razytimesinloveCouple
over a year ago

SW Scotland

Always be wary what you put as a reference when putting money into accounts.

I used to put stuff like “all anal audition” when I sent the mrs money for bills etc. I found it hilarious when she had to show statements to the bank when we applied for a mortgage.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Always be wary what you put as a reference when putting money into accounts.

I used to put stuff like “all anal audition” when I sent the mrs money for bills etc. I found it hilarious when she had to show statements to the bank when we applied for a mortgage. "

Well played

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Depends how you got the cash

So depends on what I tell them? "

Basically... if I sold a BMX for example, I could put that money in the bank without informing HMRC

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

What is the cash for? If it’s for services rendered, it should be included on your tax return whether it’s banked or not. If it’s for something unrelated to a business, like selling your car or a small gift, then no you don’t need to tell them.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"why wouldn't you?"

This is what I've been asking and I get a different answer from everyone who I asked.

I asked a solicitor and she wasn't sure so then I asked an accountant and he couldnt give me a straight answer.. So I phoned hmrc and they said no! But surly this can't be right

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

I can hold in to it for you Mickey....

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Always be wary what you put as a reference when putting money into accounts.

I used to put stuff like “all anal audition” when I sent the mrs money for bills etc. I found it hilarious when she had to show statements to the bank when we applied for a mortgage. "

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Depends how you got the cash

So depends on what I tell them?

Basically... if I sold a BMX for example, I could put that money in the bank without informing HMRC "

I see

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

You still haven’t said what it’s for.

Reply privately

Reply in forum

Reply +quote

By *adame 2SwordsWoman
over a year ago

Victoria, London

i go audited recently because of a flaming friend!

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"What is the cash for? If it’s for services rendered, it should be included on your tax return whether it’s banked or not. If it’s for something unrelated to a business, like selling your car or a small gift, then no you don’t need to tell them."

I just want it in the bank incase I need it for a car or deposit on a house.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

[Removed by poster at 18/11/19 20:08:00]

Reply privately

Reply in forum

Reply +quote

By *itty9899Man
over a year ago

Craggy Island

"If you put cash into a bank account?

Asking for a friend

No you don't.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"You still haven’t said what it’s for."

Do you mean how I obtained it?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

This

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

I just want it in the bank incase I need it for a car or deposit on a house. "

I will try again. What is the money for? How did you get the cash in the first place?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"I can hold in to it for you Mickey....

Lol nah

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

Its simple if it is something business related or money made from selling assets like a house that you don't live in then yes.

Otherwise no ..they will ask you if its sizeable to ensure its not money laundering.

You are welcome

Reply privately

Reply in forum

Reply +quote

By *teveanddebsCouple
over a year ago

Norwich

And how much are we talking about?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't."

Isn't it classed as money laundering though?

Reply privately

Reply in forum

Reply +quote

By *osie xWoman
over a year ago

wolverhampton

When you pay the monies into the bank, the staff will ask you about it if it's a substantial sum.

If they are happy with your answer all good, if not they are obliged to inform HMRC under AML enforcement who will then act on the ticket

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

I just want it in the bank incase I need it for a car or deposit on a house.

I will try again. What is the money for? How did you get the cash in the first place?"

I saved it and some was gifted to me. Some came from sale of horses.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though? "

No. Not automatically. Depends how much it is and if it raises questions it can be looked into Message me if you want. I did 15 years in the fraud dept of a bank.

Reply privately

Reply in forum

Reply +quote

By *AYENCouple
over a year ago

Lincolnshire

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though? "

Putting cash in a bank and not declaring earning are two different things.

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though? "

It is only money laundering if the cash was obtained from an illegal activity. Banks are under a legal obligation to report any larger cash deposits to the authorities so, in theory, if they report you and the authorities follow it up, you need to be able to prove where the cash came from in the first place.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"And how much are we talking about?

I'm not sure exactly

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

I just want it in the bank incase I need it for a car or deposit on a house.

I will try again. What is the money for? How did you get the cash in the first place?

I saved it and some was gifted to me. Some came from sale of horses. "

Gifted is no, the money you saved still depends on where it came from and whether it has already been taxed.

Horses are a capital asset so looks like you should be completing a self assessment

Reply privately

Reply in forum

Reply +quote

By *lutinnylons69TV/TS
over a year ago

Daventry

OMG should I have declared the £80 and 6 bottles of wine I was given for having sex? Or do.i treat it as a gift?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

No. Not automatically. Depends how much it is and if it raises questions it can be looked into Message me if you want. I did 15 years in the fraud dept of a bank. "

Done

Reply privately

Reply in forum

Reply +quote

By *eah BabyCouple
over a year ago

Cheshire, Windermere ,Cumbria

Can I suggest you don’t arrange a meet at home until you have banked the money as you have just told everyone your sitting on a nice little number lol

If it’s earnings related then it needs to be declared, not sure on the sale of horses unless they were part of your business then you would have to declare, if not business related then would say not as no different than selling your car or boat for example.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

It's not from illegal activity, but I can't prove where it all came from. I don't keep paper work for everthing.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"OMG should I have declared the £80 and 6 bottles of wine I was given for having sex? Or do.i treat it as a gift?"

I havent got a clue

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Can I suggest you don’t arrange a meet at home until you have banked the money as you have just told everyone your sitting on a nice little number lol

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

It's not from illegal activity, but I can't prove where it all came from. I don't keep paper work for everthing. "

There’s a lesson there for you then.

Reply privately

Reply in forum

Reply +quote

By *crumdiddlyumptiousMan
over a year ago

A couple of thousand and they probably wouldn't question it unless it was regular deposits, But I'm sure if you put 10k they would ask a few questions like where is it from

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

I feel like a criminal. Take a look at the bad guy

lol

Reply privately

Reply in forum

Reply +quote

By *aul DeUther-OneMan
over a year ago

Sussex

"why wouldn't you?

This is what I've been asking and I get a different answer from everyone who I asked.

I asked a solicitor and she wasn't sure so then I asked an accountant and he couldnt give me a straight answer.. So I phoned hmrc and they said no! But surly this can't be right "

hang on. Let's all get this straight. You consulted the national authority and now you're asking a collection of complete strangers?....

If you're still in doubt then write to HMRC with as much true detail as you can give and then ask them to reply to you also in writing. Keep their letter safe for three years and you're good as gold.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

It depends on how much cash. And then again, it won't be the HMRC asking questions, it will be the bank which will then refer to HMRC if they believe that there's any money laundering implications...

N x

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"why wouldn't you?

This is what I've been asking and I get a different answer from everyone who I asked.

I asked a solicitor and she wasn't sure so then I asked an accountant and he couldnt give me a straight answer.. So I phoned hmrc and they said no! But surly this can't be right

hang on. Let's all get this straight. You consulted the national authority and now you're asking a collection of complete strangers?....

If you're still in doubt then write to HMRC with as much true detail as you can give and then ask them to reply to you also in writing. Keep their letter safe for three years and you're good as gold.

Apparently you need to keep records for 6 years actually!

n x

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

It's not from illegal activity, but I can't prove where it all came from. I don't keep paper work for everthing. "

Under the mattress then

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

Bank what you can account for. Declare it and pay your taxes.

The rest is disposable. It always was.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Always be wary what you put as a reference when putting money into accounts.

I used to put stuff like “all anal audition” when I sent the mrs money for bills etc. I found it hilarious when she had to show statements to the bank when we applied for a mortgage. "

Top tip!!

Reply privately

Reply in forum

Reply +quote

By *urple-roseWoman
over a year ago

Stoke

I can take a bit off your hands for you, less of it to worry about then lol

Reply privately

Reply in forum

Reply +quote

By *a LunaWoman
over a year ago

Welsh Lass

They find out everything. Spill your guts now and save yourself!!!!!!

Reply privately

Reply in forum

Reply +quote

By *icecouple561Couple
Forum Mod
over a year ago

East Sussex

When we've received ppi compensation they take tax from before they give it to us, we had to claim it back.

When we were given some money we didn't declare it.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"why wouldn't you?

This is what I've been asking and I get a different answer from everyone who I asked.

I asked a solicitor and she wasn't sure so then I asked an accountant and he couldnt give me a straight answer.. So I phoned hmrc and they said no! But surly this can't be right

hang on. Let's all get this straight. You consulted the national authority and now you're asking a collection of complete strangers?....

If you're still in doubt then write to HMRC with as much true detail as you can give and then ask them to reply to you also in writing. Keep their letter safe for three years and you're good as gold.

Yes correct. Depending on who I talk to, each one told me a different story. I chatted with two people in hmrc and both sounded like they didn't have a clue.

Today I went to open an account to put some cash in and after sorting it out.. I then gave the guy some cash and he said "oh, no we don't take cash" wtf! I couldn't put cash into the account!

Wasted my day. Anyways I thought I would get more sense on here.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

It's not from illegal activity, but I can't prove where it all came from. I don't keep paper work for everthing.

Under the mattress then

Biscuit tin

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"I can take a bit off your hands for you, less of it to worry about then lol

How nice of you

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

There’s this new on line account called the bank of Nora. Great for saving. You pay in and can’t get it out for 10 years. Great interest rates though

Reply privately

Reply in forum

Reply +quote

By *urple-roseWoman
over a year ago

Stoke

"I can take a bit off your hands for you, less of it to worry about then lol

How nice of you

I am a very nice person, just have lots of bad luck

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"There’s this new on line account called the bank of Nora. Great for saving. You pay in and can’t get it out for 10 years. Great interest rates though

I'm so thick I actually thought you were being genuine for awhile lol

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"I can take a bit off your hands for you, less of it to worry about then lol

How nice of you

I am a very nice person, just have lots of bad luck

Yeah

Your

sure lol

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

You called HMRC and asked them. Priceless

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

"There’s this new on line account called the bank of Nora. Great for saving. You pay in and can’t get it out for 10 years. Great interest rates though

I’d love to put something in and not take it out for 10 years.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"There’s this new on line account called the bank of Nora. Great for saving. You pay in and can’t get it out for 10 years. Great interest rates though

I’d love to put something in and not take it out for 10 years.

Reply privately

Reply in forum

Reply +quote

By *pursChick aka ShortieWoman
over a year ago

On a mooch

I just want it in the bank incase I need it for a car or deposit on a house.

I will try again. What is the money for? How did you get the cash in the first place?

I saved it and some was gifted to me. Some came from sale of horses. "

If you are applying for a mortgage, they can/may ask you to prove where the money came from for the deposit.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"why wouldn't you?

This is what I've been asking and I get a different answer from everyone who I asked.

I asked a solicitor and she wasn't sure so then I asked an accountant and he couldnt give me a straight answer.. So I phoned hmrc and they said no! But surly this can't be right "

It is right

Hmrc dont tax cash, they tax earnings

Earnings are reported through paye scheme or declared on self assessment

If it was for sale of an asset you would also have to declare the profit for capital gains tax

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"why wouldn't you?

This is what I've been asking and I get a different answer from everyone who I asked.

I asked a solicitor and she wasn't sure so then I asked an accountant and he couldnt give me a straight answer.. So I phoned hmrc and they said no! But surly this can't be right

It is right

Hmrc dont tax cash, they tax earnings

Earnings are reported through paye scheme or declared on self assessment

If it was for sale of an asset you would also have to declare the profit for capital gains tax "

Ps i think race horses may count as capital assets

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

"There’s this new on line account called the bank of Nora. Great for saving. You pay in and can’t get it out for 10 years. Great interest rates though

I’d love to put something in and not take it out for 10 years.

I’d be greatly interested if it was on offer.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"i go audited recently because of a flaming friend!"

I mean an audit seems a strange punishment for setting a person on fire

Reply privately

Reply in forum

Reply +quote

By *tella HeelsTV/TS
over a year ago

west here ford shire

Erm if it’s not your money you will eventually have to declare how you got it...

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

Hmrc will know !!

Reply privately

Reply in forum

Reply +quote

By *partharmonyCouple
over a year ago

Ruislip

"Depends how you got the cash

So depends on what I tell them?

Basically... if I sold a BMX for example, I could put that money in the bank without informing HMRC "

If you sell something that's yours you would only be expected to pay tax if it had increased in value. That's capital gains tax.

If you earn money by working for it you would put that in a tax return at the end of the year. You can say what it's for and they can tell you whether it's taxable or not.

If you are uncertain call the HMRC "help" line. They are generally quite helpful if (and I do mean IF) they answer the phone before your funeral.

Reply privately

Reply in forum

Reply +quote

By *abrina59TV/TS
over a year ago

moved to cuckold land

Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no"

I agree. Ask your accountant

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no"

One of them said I had to work out where it all came from. Like I said everyone seems to have a different answer.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant "

I did and he wasn't sure either. I'm going to ask another one.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant

I did and he wasn't sure either. I'm going to ask another one. "

Dont look for an accountant ... look for a tax advisor... not all accountants specialise in tax and the rules change so often that what they learned when qualifying will be out of date

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant

I did and he wasn't sure either. I'm going to ask another one.

Dont look for an accountant ... look for a tax advisor... not all accountants specialise in tax and the rules change so often that what they learned when qualifying will be out of date "

Any accountant will know this.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant

I did and he wasn't sure either. I'm going to ask another one.

Dont look for an accountant ... look for a tax advisor... not all accountants specialise in tax and the rules change so often that what they learned when qualifying will be out of date

Any accountant will know this. "

Chartered account here

have given basic advice above but don’t actively keep up to date with any tax rules in my field so no you are wrong any accountant will not know this

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant

I did and he wasn't sure either. I'm going to ask another one.

Dont look for an accountant ... look for a tax advisor... not all accountants specialise in tax and the rules change so often that what they learned when qualifying will be out of date

Any accountant will know this.

Chartered account here

have given basic advice above but don’t actively keep up to date with any tax rules in my field so no you are wrong any accountant will not know this "

We could go research and find out but thats not the same thing

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant

I did and he wasn't sure either. I'm going to ask another one.

Dont look for an accountant ... look for a tax advisor... not all accountants specialise in tax and the rules change so often that what they learned when qualifying will be out of date "

Gotcha

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"Not sure why you asking the question here as you say you have spoken to HRMC and they have said no!!!!

I assume you told them everything you said here so you already have the defined answer no

I agree. Ask your accountant

I did and he wasn't sure either. I'm going to ask another one.

Dont look for an accountant ... look for a tax advisor... not all accountants specialise in tax and the rules change so often that what they learned when qualifying will be out of date

Any accountant will know this.

Chartered account here

have given basic advice above but don’t actively keep up to date with any tax rules in my field so no you are wrong any accountant will not know this "

Ok maybe I’m wrong my ex was chartered but also a financial adviser.

Reply privately

Reply in forum

Reply +quote

By *ourneblondeWoman
over a year ago

Bourne

You can spend it on me .

Then you won't need to bank it.

After all it's only money..

Reply privately

Reply in forum

Reply +quote

By *evil_u_knowMan
over a year ago

city

yeah phone them up, "hey am gonna put this cash in this bank account"

It takes about 30 minutes to get through but its best to do it.

Reply privately

Reply in forum

Reply +quote

By *ingle Dad SeekingMan
over a year ago

Northern England

"Always be wary what you put as a reference when putting money into accounts.

I used to put stuff like “all anal audition” when I sent the mrs money for bills etc. I found it hilarious when she had to show statements to the bank when we applied for a mortgage. "

Ha ha. That sent me off to bed with a smile on my face.

Reply privately

Reply in forum

Reply +quote

By *eah BabyCouple
over a year ago

Cheshire, Windermere ,Cumbria

I just want it in the bank incase I need it for a car or deposit on a house.

I will try again. What is the money for? How did you get the cash in the first place?

I saved it and some was gifted to me. Some came from sale of horses.

If you are applying for a mortgage, they can/may ask you to prove where the money came from for the deposit. "

Not just a mortgage if your buying a house cash you have to show where you got the pennies from, the solicitor will need to see proof of where every last one came from.

Reply privately

Reply in forum

Reply +quote

By *allySlinkyWoman
over a year ago

Leeds

OP you already had a thread asking if you can buy a house with cash

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

Depends if u are claiming benefits or a state pension

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"OP you already had a thread asking if you can buy a house with cash"

My houses was brought with cash and no mortgages

Reply privately

Reply in forum

Reply +quote

By *odd4funnMan
over a year ago

Walthamstow Leyton

When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Reply privately

Reply in forum

Reply +quote

By *om mac 08Man
over a year ago

fermanagh

https://revolut.com/referral/ryannl99!a10121

15 pound for both on sign up

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

No. Not automatically. Depends how much it is and if it raises questions it can be looked into Message me if you want. I did 15 years in the fraud dept of a bank. "

That's funny, I did 15 years for defrauding a bank................................

Just kidding, I worked for a year in a fraud dept of a bank. We should exchange information. .......

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"You can spend it on me .

Then you won't need to bank it.

After all it's only money.."

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

I just want it in the bank incase I need it for a car or deposit on a house.

I will try again. What is the money for? How did you get the cash in the first place?

I saved it and some was gifted to me. Some came from sale of horses.

If you are applying for a mortgage, they can/may ask you to prove where the money came from for the deposit.

Not just a mortgage if your buying a house cash you have to show where you got the pennies from, the solicitor will need to see proof of where every last one came from."

It's impossible for me to prove where every penny came from without paper work for everthing

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"OP you already had a thread asking if you can buy a house with cash"

Yes?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"If you put cash into a bank account?

Asking for a friend

Depends if u are claiming benefits or a state pension

I'm not claiming anything

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

[Removed by poster at 19/11/19 09:30:14]

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

[Removed by poster at 19/11/19 09:29:30]

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"OP you already had a thread asking if you can buy a house with cash

My houses was brought with cash and no mortgages"

I guess you mean bank transfer

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago "

Apparently that's not the case now

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

No. Not automatically. Depends how much it is and if it raises questions it can be looked into Message me if you want. I did 15 years in the fraud dept of a bank.

That's funny, I did 15 years for defrauding a bank................................

Just kidding, I worked for a year in a fraud dept of a bank. We should exchange information. .......

Haha that’s funny

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago "

What??? That’s not true at all!

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

What??? That’s not true at all! "

Unless you’ve left a couple of noughts off that!

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"https://revolut.com/referral/ryannl99!a10121

15 pound for both on sign up "

Il check it out

Reply privately

Reply in forum

Reply +quote

By *allySlinkyWoman
over a year ago

Leeds

Apparently that's not the case now "

If you know it's not the case now then why are you asking for advice when you already know the answer ?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

No. Not automatically. Depends how much it is and if it raises questions it can be looked into Message me if you want. I did 15 years in the fraud dept of a bank.

That's funny, I did 15 years for defrauding a bank................................

Just kidding, I worked for a year in a fraud dept of a bank. We should exchange information. .......

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

Apparently that's not the case now

If you know it's not the case now then why are you asking for advice when you already know the answer ?"

Making sure of everything

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Apparently that's not the case now "

Yeah thats rubbish ... if you make large cash deposits you may flag a money laundering investigation but banks dont even report your interest to hmrc anymore

They do report balances of us citizens to the irs though

Reply privately

Reply in forum

Reply +quote

By *allySlinkyWoman
over a year ago

Leeds

Apparently that's not the case now

If you know it's not the case now then why are you asking for advice when you already know the answer ?

Making sure of everything "

With this and your previous thread about buying a house with cash it just seems you want to make sure everyone knows you have loads of money.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

Take Father Ted's advice and just tell them the money will only be " resting in your account "

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

Apparently that's not the case now

If you know it's not the case now then why are you asking for advice when you already know the answer ?

Making sure of everything

With this and your previous thread about buying a house with cash it just seems you want to make sure everyone knows you have loads of money. "

No not at all. Just asking for advice.. I haven't got loads of money, I'm sure there are many fab users who have much more than I will ever have.

Reply privately

Reply in forum

Reply +quote

By (user no longer on site) OP
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Apparently that's not the case now

Yeah thats rubbish ... if you make large cash deposits you may flag a money laundering investigation but banks dont even report your interest to hmrc anymore

They do report balances of us citizens to the irs though"

I thought IRS was the American version of HMRC lol

Reply privately

Reply in forum

Reply +quote

By *teveanddebsCouple
over a year ago

Norwich

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Apparently that's not the case now

Yeah thats rubbish ... if you make large cash deposits you may flag a money laundering investigation but banks dont even report your interest to hmrc anymore

They do report balances of us citizens to the irs though"

Who or what is the IRS?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Apparently that's not the case now

Yeah thats rubbish ... if you make large cash deposits you may flag a money laundering investigation but banks dont even report your interest to hmrc anymore

They do report balances of us citizens to the irs though

I thought IRS was the American version of HMRC lol "

It is

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Apparently that's not the case now

Yeah thats rubbish ... if you make large cash deposits you may flag a money laundering investigation but banks dont even report your interest to hmrc anymore

They do report balances of us citizens to the irs though

I thought IRS was the American version of HMRC lol

It is "

We should start a fab hide your dosh service. For a modest non disclosable fee of course...

Reply privately

Reply in forum

Reply +quote

By *lanwoodMan
over a year ago

Alton

"When you put over £500 in cash into a bank acc they have to by law inform HMRC of the transaction

It may be more now but thats how it was 5 years ago

Apparently that's not the case now

Yeah thats rubbish ... if you make large cash deposits you may flag a money laundering investigation but banks dont even report your interest to hmrc anymore

They do report balances of us citizens to the irs though

I thought IRS was the American version of HMRC lol

It is

We should start a fab hide your dosh service. For a modest non disclosable fee of course...

Paid in cash or cheque?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

"If you put cash into a bank account?

Asking for a friend

Just ask an accountant or the tax office to get a definitive answer surely? I'm supposing you are self employed?

Reply privately

Reply in forum

Reply +quote

By (user no longer on site)
over a year ago

My husband put a lot in his account and transfered it to me. He put sexual favours. They rang him up.

Reply privately

Reply in forum

Reply +quote

By *hechapMan
over a year ago

Derry

"If you put cash into a bank account?

Asking for a friend

No you don't.

Isn't it classed as money laundering though?

No. Not automatically. Depends how much it is and if it raises questions it can be looked into Message me if you want. I did 15 years in the fraud dept of a bank. "

Fraud dept in the bank??

lol

You must have seen some amount of bankers fraud in 15yrs or was it only poor mens fraud you were concerned with and turn a blind eye to the real criminals with the pin striped suits.

Reply privately

Reply in forum

Reply +quote

Post new Message to Thread