Paying in cash

[wowzz]

24 minutes ago, Ardennais said:

Common practice around here to pay significant amounts in cash for cars, implements, tools, timber, etc. mind you, people usually know each other. Not saying it’s right, but it’s very common. 

And I'm sure they add on the appropriate VAT !

[Bill Y]

17 minutes ago, Vampiress88 said:

suppose it depends on what a large amount of cash is really. 
 

the bike was £2.5k all in 20s. He was about 55-60ish. That was deposited back in October few months after we sold it. 
 

this new phone was the new Samsung one, couldn’t get along with it at all,I’ll stick to apple from now on but he paid in cash too. 
 

If it’s a private seller for the car I’ll just have to ask for a bank transfer then. It’s just most vehicles weve sold has always been cash if it’s not worth much. My car is maybe about £2k on the car buying site. Maybe more private. That’s why I thought that the car would pay for the holiday.  

I see your concern, I would not hand the keys over until I actually saw the money in my account, but these days if both banks do fast flow the money is transfered within seconds although you may need to refresh or log in again.

[Vampiress88]

But the point is I can’t take £1700 cash onto my April iona to pay for the remainder of my December balance. 

[Bill Y]

12 minutes ago, Vampiress88 said:

But the point is I can’t take £1700 cash onto my April iona to pay for the remainder of my December balance. 

The only way you will get a definitive answer is to ask P&O, preferably to confirm in writing. As they change money onboard they obviously deal with large amounts of cash. It was rumoured onboard a few years ago that the £300k for the Panama canal had to be paid in readys.

[bbtablet]

2 hours ago, wowzz said:

We sold my wife's beloved Fiat 500 late last year, through an online dealer. Take any estimate from an online firm with a large pinch of salt, especially "we buy any car". 

We sold my wife's very low mileage beloved Fiat 500 last year through Motorway - great price.

[Cpt Pugwash]

8 hours ago, kalos said:

 

Vamps said .."I know I can pay my drinks balance off in cash "  Which is what you did .

She also asks . . "can you pay for upcoming cruises in cash whilst on board? "

ie .. take a few grand onboard and pay for the upcoming cruises which looking at 

the link I put in my last post suggests not .

As other posters have put, a card of some sort seems the more sensible option even 

if it were possible to pay in cash . 

Had you paid for your next cruise in cash whilst onboard and once back home you find 

the cruise is being cancelled . Would P&O  pay you back in cash ? Doubt it .

 

The simple answer to that would be pay the deposit with your cash account then pay the balance with a debit card or credit card when getting home. 

[jeanlyon]

6 hours ago, Ardennais said:

Common practice around here to pay significant amounts in cash for cars, implements, tools, timber, etc. mind you, people usually know each other. Not saying it’s right, but it’s very common. 

most using large amounts of cash are using cash earned by avoiding VAt and doing jobs for cash.  At my office, we no longer accept cash at all.  If the money is legit, why wouldn't you pay it into your bank and then use a debit or credit card.

[Ardennais]

7 hours ago, wowzz said:

And I'm sure they add on the appropriate VAT !

VAT doesn’t come into it at all. Just a very traditional way of doing business I guess. And as I said, people tend to know each other and can trust each other. 

[Ardennais]

1 hour ago, jeanlyon said:

most using large amounts of cash are using cash earned by avoiding VAt and doing jobs for cash.  At my office, we no longer accept cash at all.  If the money is legit, why wouldn't you pay it into your bank and then use a debit or credit card.

I don’t think you’ll change people’s ways of doing things around here! They keep huge sums in cash to pay for other things in cash. 

[jeanlyon]

18 minutes ago, Ardennais said:

I don’t think you’ll change people’s ways of doing things around here! They keep huge sums in cash to pay for other things in cash. 

I have to say I haven't used cash anywhere in ages.  And as I said, my office doesn't accept it and neither do a lot of the other businesses.  Main problem is there are no banks around to pay in cah.

[Ardennais]

4 minutes ago, jeanlyon said:

I have to say I haven't used cash anywhere in ages.  And as I said, my office doesn't accept it and neither do a lot of the other businesses.  Main problem is there are no banks around to pay in cah.

You’re right, banks are few and far between. However people don’t actually want to deposit cash, they keep it to purchase other things. Lots of people use cash in the local supermarket and petrol station. Cash isn’t seen as a problem, but as something quite desirable! 

[terrierjohn]

4 minutes ago, Ardennais said:

You’re right, banks are few and far between. However people don’t actually want to deposit cash, they keep it to purchase other things. Lots of people use cash in the local supermarket and petrol station. Cash isn’t seen as a problem, but as something quite desirable! 

It's quite desirable if legally earned,  but if you ever try to bank large amounts you will find the bank asking a lot of awkward questions to ensure it has been legally earned, either by you or the person you received it from.

[Ardennais]

17 minutes ago, terrierjohn said:

It's quite desirable if legally earned,  but if you ever try to bank large amounts you will find the bank asking a lot of awkward questions to ensure it has been legally earned, either by you or the person you received it from.

But the point I’m making is that lots of people around here use cash instead of cards. They don’t want to bank their cash at all so it’s not a problem. It’s a form of circular economy. The cash is legally earned, but might not be accounted for! I’m not saying it’s right but to provide some context, a good proportion of rural folk don’t have personal pensions and many are still working well over the official retirement age - through choice more often than not. 

[jeanlyon]

Ha ha, I'm still working at 76 through choice.  Still don't need cash.  Cards are much easier.

[Cj hanlon]

Central bank digital currencies will take care of cash. Check it out. 

[wowzz]

40 minutes ago, Ardennais said:

The cash is legally earned, but might not be accounted for!

And therefore not subject to taxation !

M'lud, the case for the prosecution rests.

[Vampiress88]

I’ll ask them before I go in April. 
 

Looking forward to olive grove again. 
 

Will least be interesting when I take all the coins to the bank, that machine better work as I’ll be there a while. 
 

we tend to save in cash cos if it’s in a bank account hubby likes to spend it and when I save up all my cash in my big money box he won’t go in there. Best look soon so that it’s not a large amount to deposit. Wouldn’t say the money box actually gets a lot in there each month but it’s been a few years. 

[Snow Hill]

On 3/1/2023 at 8:07 PM, jeanlyon said:

most using large amounts of cash are using cash earned by avoiding VAt and doing jobs for cash.  At my office, we no longer accept cash at all.  If the money is legit, why wouldn't you pay it into your bank and then use a debit or credit card.

I had a quote recently for some work in my garden, the quote came in 2 parts, one cash without VAT or by invoice with VAT, clearly tax avoidance.I didn’t go for that quote as couldn’t support anyone committing a crime. 

[Pine Man]

At a time when we are supposedly suffering a cost of living crisis, I am surprised at the, apparant, amount of people with loads of cash under their mattresses that could be earning at least 3% interest in a local building society.

[wowzz]

33 minutes ago, Pine Man said:

At a time when we are supposedly suffering a cost of living crisis, I am surprised at the, apparant, amount of people with loads of cash under their mattresses that could be earning at least 3% interest in a local building society.

Or even Premium Bonds. 

Another £100 today- woohoo !

No begging letters please.

[jeanlyon]

1 hour ago, wowzz said:

Or even Premium Bonds. 

Another £100 today- woohoo !

No begging letters please.

Yes they have improved.  I got £175!!

[wowzz]

58 minutes ago, jeanlyon said:

Yes they have improved.  I got £175!!

Well, that's my bubble well and truly popped !

[Snow Hill]

55 minutes ago, wowzz said:

Well, that's my bubble well and truly popped !

Only a small bubble here, £25

[wowzz]

35 minutes ago, Snow Hill said:

Only a small bubble here, £25

I feel better already !

Now, if I could win £39,899 next month,  my Saga African holiday would be paid for.

[Snow Hill]

I wonder if there are any HMRC Tax investigators on here, a few posts might attract their attention!

Edited March 3, 2023 by Snow Hill