Thread: Depositing cash in bank - How much before they ask questions ?


Forum: General Chat

Hi All Sparky by trade and got part p regs and been doing a few cash hobbles, and got couple grand in cash rom the last few months work. How much can i safely deposit into my curre

Page 1 of 3 123 LastLast
Results 1 to 10 of 27
  1. #1
    VIP Member bilabonic's Avatar
    Join Date
    Apr 2007
    Posts
    2,413
    DW Cash
    71
    Downloads
    16
    Uploads
    0
    Mentioned
    9 Post(s)
    Tagged
    0 Thread(s)

    Depositing cash in bank - How much before they ask questions ?

    Hi All

    Sparky by trade and got part p regs and been doing a few cash hobbles, and got couple grand in cash rom the last few months work.

    How much can i safely deposit into my current a/c before thaey ask questions, tax man has interest etc.

    Or are they not bothered or is there a certain amount ?

    Getting a fair bit of work lately since my mate started doing conservatory bases (bricky) and is picking up even more work.

    Cheers



  2. #2
    Administrator davidh's Avatar
    Join Date
    Aug 2001
    Location
    LIVERPOOL
    Posts
    14,955
    DW Cash
    25
    Downloads
    0
    Uploads
    0
    Mentioned
    22 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    Quote Originally Posted by bilabonic View Post
    Hi All

    Sparky by trade and got part p regs and been doing a few cash hobbles, and got couple grand in cash rom the last few months work.

    How much can i safely deposit into my current a/c before thaey ask questions, tax man has interest etc.

    Or are they not bothered or is there a certain amount ?

    Getting a fair bit of work lately since my mate started doing conservatory bases (bricky) and is picking up even more work.

    Cheers
    i have put over 2 grand in the bank all they say is do u want to invest it
    etc

  3. #3
    Inactive User
    Join Date
    Apr 2006
    Posts
    2,057
    DW Cash
    25
    Downloads
    0
    Uploads
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    I believe the figure is 10k before they will start asking the awkward questions lol.



  4. #4
    VIP Member smirnoff_rules's Avatar
    Join Date
    Dec 2005
    Posts
    12,844
    DW Cash
    476
    Downloads
    89
    Uploads
    10
    Mentioned
    27 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    buy a safe m8 ., wot they cant see they cant take

  5. #5
    DW Contributor manutd4life's Avatar
    Join Date
    Dec 2007
    Location
    all over the net
    Posts
    3,865
    DW Cash
    25
    Downloads
    4
    Uploads
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    open a savings account and put it in there.

  6. #6
    DW Honored Member eder's Avatar
    Join Date
    Dec 2008
    Location
    sɹnoʎ dn
    Posts
    954
    DW Cash
    40
    Downloads
    0
    Uploads
    0
    Mentioned
    3 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    before I got my paypal topupcard i used to transfer about 500 - 800 every 2 weeks to my account...never had a problem with tax...now I transfer it to my topupcard so dont gos through my account....there is a limit of 1k/week and 10k/year.

  7. #7
    DW Contributor Jooooles's Avatar
    Join Date
    Sep 2006
    Location
    St James Park
    Posts
    6,326
    DW Cash
    25
    Downloads
    0
    Uploads
    0
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    I actually know the answer to this question lol thats a first.

    The amount they get trippy over is anything over 5 grand this is because anybody receiving benefits can not have anything over 6 thousand in savings and receive benefits.

    I went to put 14 thousand in the bank and the desk Clark told me I had to fill a form in to say where it come from, why I asked ?

    She smiled and said I see you receive benefits at the moment, yeh I said she suggested why don't you put no more then 5 in today and open a savers bond with someone else someone like the co-op,

    Then you don't need to fill any forms no tax query's and your not exceeding your savings allowance.


    Yer so I took here advice and banked 5 then went on a massive bender instead of going to the co-op
    Last edited by Jooooles; 5th February 2010 at 18:45.

  8. #8
    VIP Member
    Join Date
    Nov 2005
    Posts
    1,041
    DW Cash
    284
    Trophies
    Downloads
    13
    Uploads
    0
    Mentioned
    32 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    Anything over 5.000 and it comes under the scope of the money laundering regs. you could then be asked some awkward questions by customs and excise.

    thebigman

  9. #9
    DW Honored Member
    Join Date
    Mar 2006
    Posts
    678
    DW Cash
    25
    Downloads
    0
    Uploads
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    yeah 5k and there obliged to report it

  10. #10
    DW Contributor manutd4life's Avatar
    Join Date
    Dec 2007
    Location
    all over the net
    Posts
    3,865
    DW Cash
    25
    Downloads
    4
    Uploads
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)

    Re: Depositing cash in bank - How much before they ask questions ?

    Quote Originally Posted by bilabonic View Post
    Hi All

    Sparky by trade and got part p regs and been doing a few cash hobbles, and got couple grand in cash rom the last few months work.

    How much can i safely deposit into my current a/c before thaey ask questions, tax man has interest etc.

    Or are they not bothered or is there a certain amount ?

    Getting a fair bit of work lately since my mate started doing conservatory bases (bricky) and is picking up even more work.

    Cheers
    need any help as i could do with extra money lol



Page 1 of 3 123 LastLast

Similar Threads

  1. VIP Poker Cash...
    By eder in forum General Chat
    Replies: 40
    Last Post: 14th March 2011, 21:52
  2. Cash ISA
    By faisalpandu in forum General Chat
    Replies: 4
    Last Post: 16th April 2009, 14:22
  3. Cash in your Ash Ole
    By SkinbacK in forum Sport in General
    Replies: 3
    Last Post: 28th December 2006, 22:55
  4. who needs cash
    By buckthehero in forum General Chat
    Replies: 2
    Last Post: 5th February 2004, 11:34

User Tag List

Tags for this Thread

View Tag Cloud

Important Keywords:

bet, box, buy, calls, crash, fish, flash, free, help, list, lower, nice, pay, pen, play, power, problem, report, rom, safely, sell, service, single, spring, time, trade, working

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •