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

bilabonic

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


:Cheers:
 
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.
 
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 :Fish:
 
Last edited:
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
 
yeah 5k and there obliged to report it
 
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
 
Screw the banks. Whatever the money might earn in interest, they just take right back in service and hidden charges anyway. Keep it under your pillow. :)
 
I'm of Nigerian descent and would love to advise you on how to invest that money in the safest and most private manner. If you send me your details and post me the money I will ensure you get a return of at least £100,000,000.
 
I'm of Nigerian descent and would love to advise you on how to invest that money in the safest and most private manner. If you send me your details and post me the money I will ensure you get a return of at least £100,000,000.


youve been sending me emails you twat :proud:
 
I'm of Nigerian descent and would love to advise you on how to invest that money in the safest and most private manner. If you send me your details and post me the money I will ensure you get a return of at least £100,000,000.

hahahahahahaha
 
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

If you pay cash from working in to a bank and do not declare it in your tax accounts: how are you going to explain it if the taxman asks.
If you are called in for random check, they will already know how much money you've paid in. When they ask and you lie: you're f*cked.
 
I would do what Smirnoff and señor ding dong suggested (buy a safe and not to bank it)
the tax man wants his tax at the end of the day
 
Or he could just declare it and pay his tax like the rest of us do.
 
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