Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think cash transactions above £250 should be banned

252 replies

coconuttella · 14/04/2018 08:34

Because let’s face it, the vast majority of cash transactions above that level are done to evade tax in one way or another... and those cash transactions that aren’t could easily be done another way.

OP posts:
N2986 · 14/04/2018 08:35

Yabu what about buying and selling things from gumtree, eBay etc?

Original poster
coconuttella · 14/04/2018 08:36

PayPal!

OP posts:
GeorgieTheGorgeousGoat · 14/04/2018 08:37

Haha I don’t have paypal, you have to pay fees. Why should I?

I accept cash for payment for my job, I still put it through my books.

reddington · 14/04/2018 08:38

Don’t be ridiculous, plenty of reason to be paying large amounts of cash for things. Collection of eBay purchases and cars as a couple of examples.

LiquoricePickle · 14/04/2018 08:38

YABU. Some people like to keep their money where they can see it, and would prefer that there isn't a record of everything they buy so that the targeted advertising is kept to a minimum. How about you focus on the huge corporations evading tax?

CraftyGin · 14/04/2018 08:41

Those people who struggle with money management and debt are often advised to pay for discretionary purchases using cash. That way, they can only buy what they can afford.

BitOutOfPractice · 14/04/2018 08:42

YABU. Cash is still king here. Easier, for me, to budget.

Original poster
coconuttella · 14/04/2018 08:43

People buy cars with cash? Surely dangerous for the recipient as how would you know the bundles of £50s weren’t fake.

OP posts:
NoFuckingRoomOnMyBroom · 14/04/2018 08:43

YABU, don't assume cash payments don't get put through the books.

DisgraceToTheYChromosome · 14/04/2018 08:45

YABU. There's something about a wodge of £20 notes when buying a secondhand generator or half a cow for the freezer.

Original poster
coconuttella · 14/04/2018 08:45

Those people who struggle with money management and debt are often advised to pay for discretionary purchases using cash. That way, they can only buy what they can afford.

But someone with serious money management issues wouldn’t be splashing out £250+ on purchases very much, if at all! When they do I’m sure they could make an exception.

OP posts:
reddington · 14/04/2018 08:46

People buy cars with cash?

What planet do you live on? Of course people buy cars with cash. How do you think most private sales are concluded?

CraftyGin · 14/04/2018 08:47

Why not? I spent £250 on groceries yesterday.

Original poster
coconuttella · 14/04/2018 08:47

YABU, don't assume cash payments don't get put through the books.

Come off it... I’m sure many do, but I’ve lost count of the number of times I’ve been offered a discount for cash with the person quite open that they can do that because they won’t have to pay VAT/income tax.

OP posts:
Original poster
coconuttella · 14/04/2018 08:47

Maybe £250’s too low. £1,000 then.

OP posts:
LittleRedTerfette · 14/04/2018 08:49

I pay with cash all the time because I’m sick of being traceable in every frigging way. Next week, I’m not planning to use my card at all

ilovesooty · 14/04/2018 08:50

Never fails to surprise me how many people are so keen to get a thread title to their name that they just don't think it out properly first.

Colonelpopcorn · 14/04/2018 08:50

What about a child who has saved up birthday and Christmas money to buy the toy of their dreams? Are they trying to avoid tax?
YABU. It’s legal tender.

worridmum · 14/04/2018 08:51

Paypal is shit for sellers they 99% take the side of buyers so is easy to scam aka they pay for something claim they never got it paypal refunds and takes the money from seller even if the seller has proof they have the item. So they get the item and their money back its the easiest scam in the book and also the most common.

CraftyGin · 14/04/2018 08:52

A discount for cash can be very legitimate, and helps with a buisness’ cash flow, that than sending out an invoice to be paid in 30/60 days.

We live in a free country, and cash is a legitimate way of making transactions. Don’t cut off the freedoms of the vast majority of the population because of a few bad apples. It is not up to the payer to decide whether the vendor pays taxes in full or not.

Original poster
coconuttella · 14/04/2018 08:52

I pay with cash all the time because I’m sick of being traceable in every frigging way. Next week, I’m not planning to use my card at all

Absurd paranoia.

OP posts:
reddington · 14/04/2018 08:53

It’s legal tender.

That’s irrelevant when buying something though.

worridmum · 14/04/2018 08:53

*even if you follow exactly what paypal recommends.

ificouldwritealettertome · 14/04/2018 08:53

someone with serious money management wouldn’t be splashing out £250+ 😂😂😂 some millionaires go broke in a year and pay to have their accounts managed! Being minted doesn't make you good with money, being poor doesn't make you bad with it.

A study has been done into how using cash helps you to recognise the value of what you are spending. It makes it concrete and real.

Also- I think the billions of taxable income invested in offshore accounts is doing more damage than a car sold on eBay!

Lovesagin · 14/04/2018 08:53

Yabu I prefer to pay cash for large purchases.