To think cash transactions above £250 should be banned

[coconuttella]

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.

Yab massively u

Buying a 'young' car for £1000s, I would always go through a dealer

Dealers accept cash. Haven't met a dealer yet who'd turn down a sale because you wanted to pay them in cash. :)

LittleRedTerfette I'm totally with you

Piling on to call the OP sanctimonious or an idiot when she's already posted to say she's accepted she's wrong isn't reasonable though.

True, it was a not well thought through idea, but nothing that a lot of people don't think anyway.

Ok. You’ve all convinced me..... Was an idea I had while getting up this morning

Might be a good idea not to make a habit of that. Otherwise, it's only a matter of time before you post a thread titled "AIBU to have a shit".

YAB totally U!

Have people really become so deluded? Heaven help us.

Dh bought a second hand boat and paid £2k cash, he uses all online banking and credit cards but in this instant it was the best way to pay

Buying a 'young' car for £1000s, I would always go through a dealer as you have some respite if things go wrong, plus a warranty, and paying by card gives you extra security. I'd never risk handing over huge sums of money in cash to a stranger, especially as I'd have little redress if the car turned out to be dodgy.

Anything older than about 3 years and I buy privately, usually for cash. Sometimes part cash, part bank transfer but then I’m car savvy and know what I’m doing. I generally wouldn’t use more than about £12k in cash.

I paid cash for both my dogs. Few breeders will accept anything else, and lakeland puppies are about £850 now.

We paid cash for our motorhome, too, £4k, and both our cars.

Some people should get a life and stop worrying about how they can control everyone else 🤣

I don't think most people pay cash to evade tax, they are just buying things, why do you think cash payers are tax evaders OP?

@LittleRedTerfette

Being pestered for email address for everything, even for shop receipts

I was asked, nope, told, to leave a well known High Street herbal-type shop.

I was fed up with being asked for my email address so replied, putting random capital letters and emphasis on random letters. Instead of spelling it out naturally - [email protected] .

The man behind me in the queue twigged on before she did. His badly muffled chuckle and whilst whispering to his mate gave it away. Sort of felt bad for the cashier, she was only doing what she was instructed. I apologised (with a grin) and told her why!

I haven't had a need to transact in cash for a large item since I sold my last car four years ago. Looking into it now, I'm surprised to discover that even the latest bank payment technology does not allow irrevocable instant payments.

The "problem" with all electronic payment methods the average person has access to, including Paypal, is that to reduce the impact of fraud and errors, they are not instant and irrevocable, and can't be.

After the recent cryptocurrency discussions I realised I would almost never want to hold or use a cryptocurrency, precisely because it doesn't have the safety and protections of normal deposit account money.

This thread has made me realise there could be a use for cryptocurrency, ironically not for buying at distance, but in the exact situations where today we use physical cash. If you used an app to transfer cryptocurrency from your phone to the phone of a person standing next to you, you could be in the same position as if you'd just handed over an envelope full of cash.

I know there are lots of honest reasons for wanting to be paid in cash but avoiding tax is a often the main reason and anyone that thinks otherwise are kidding themselves.

but avoiding tax is a often the main reason and anyone that thinks otherwise are kidding themselves.

Source please.

I don't think you want to see her source, given that she almost certainly pulled that fact out of her arse.

I get my wages in cash.

it's all legal and I pay tax but my boss is old school and has never usedelectric banking to do wages.

I suspect it is because it is cheaper to not habe to pay the fee to do so.and she gets paid in cash by our clients so it's easier to just pay us in the cash.

Purchases over £250 being to evade tax is a ridiculous claim, and bringing in the rule you want, OP, would only be in the favour of banks. They'd love this and I'm sure would lobby for it.

You're also about a decade behind - serious illegality, tax fraud and money laundering doesn't take place with cash anymore. It's all about the cryptocurrencies. Small time tax evaders would just switch to cryptos rather than cash in hand payments, and everyone (the majority) using cash for non nefarious reasons would suffer.

The amount your suggesting is too low but I agree with you in theory. I bought a car recently & had to transfer the money from savings so I could pay it through my debit card. They said they don't accept cash for cars anymore as there is too much money laundering. You can't buy a house with physical cash either. It has to all be traced & prove where the money came from. Gone are the days of strolling into the solicitors with a big wad of cash.

Yay, another area of my life the government could control for no reason.

you are being ridiculous and assuming guilt before innocence with regard to cash payments not being declared.

BadLad :D :D :D

Some older people don't have credit cards and prefer cash under the matress.
Some people don't have bank accounts, they have had financial problems and they have not been accepted or whatever. They could not pay for the deposit on a flat etc, it would cause that group of people hardship.
I use Western Union to pay for stock abroad perfectly legally and there are often people there sending cash to relatives back home, cash has many uses still.

My Son-In-Law got a decent job, after a period of unemployment.
He really enjoyed paying for things, including a 4k holiday, in cash for a while.

When I was getting a house rewire etc it was easier to get out cash, I had to give deposits etc. I got all relevant paperwork to say that it had been done, safety certificates and guarantees. It was still all through the books.

I have wondered when watching "can't pay, we'll take it away", if they have a duty to report large cash payments, for money laundering purposes.

I pay in cash a lot - it's easier to budget. I paid for my last boiler with cash.