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

     
  1. #1

    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
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    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
    Regards davidh


    love one and other


    http://www.justgiving.com/David-Philip-Hindley



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    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

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

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

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    DW Contributor manutd4life's Avatar
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    Re: Depositing cash in bank - How much before they ask questions ?

    open a savings account and put it in there.
    X-Box 360 Gamer Tag CScuda

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    DW Honored Member eder's Avatar
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    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.
    sıɥʇ pɐǝɹ oʇ ƃuıʎɹʇ noʎ ǝɹɐ

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    DW Contributor Jooooles's Avatar
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    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 19:45.
    The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men.

  8. #8

    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

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

    yeah 5k and there obliged to report it
    i post therefore i'm drunk

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    DW Contributor manutd4life's Avatar
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    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
    X-Box 360 Gamer Tag CScuda

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