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>> No. 6251 Anonymous
10th May 2016
Tuesday 10:25 pm
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Lads. Since it's a new tax year and the personal allowance is 11 grand. It won't raise any eyebrows, would it, if I were to walk into my bank and open an ISA with 11 grand?
Expand all images.
>> No. 6252 Anonymous
10th May 2016
Tuesday 10:39 pm
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>>6251
As long as you don't mind only being able to stick another 4 grand in it between now and April and the rates being just as shit as ever, I doubt it would be a problem.
>> No. 6253 Anonymous
10th May 2016
Tuesday 10:43 pm
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>>6251
Well, yes - any deposit over about 6 grand is automatically reported to TPTB as money laundering. I have worked for a number of banks.
>> No. 6254 Anonymous
10th May 2016
Tuesday 11:02 pm
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>>6253
How 5.5k paid in once a month for two months?

>>6252
I won't be sticking any more in at any point this year.
>> No. 6255 Anonymous
10th May 2016
Tuesday 11:39 pm
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>>6254
Do it over three to be on the safe-side and you'll be okay.
>> No. 6256 Anonymous
11th May 2016
Wednesday 4:56 pm
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>>6251
Personal allowance has nothing to do with this, 2016 ISA allowance is £15,240. The key question pertaining to eyebrow raising is whether you mean depositing £11k of cash, in which case, yes it will.
>> No. 6257 Anonymous
11th May 2016
Wednesday 5:05 pm
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>>6251
If you've earnt the money legally why would it matter if you get any 'raised eyebrows'? The tone of your post suggests you have something to hide.
>> No. 6258 Anonymous
11th May 2016
Wednesday 7:00 pm
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>>6257
Even if one earns it legally and stashed it under a mattress for a decade, it is still a hassle to get the suits knocking on your door, and asking you to prove that your money is really yours.
>> No. 6259 Anonymous
11th May 2016
Wednesday 8:29 pm
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>>6258
>the suits knocking on your door, and asking you to prove that your money is really yours.
For 11k? I can imagine that happening for six figures but 11k seems a tad paltry for such bother.
>> No. 6260 Anonymous
11th May 2016
Wednesday 8:32 pm
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>>6259
Well not people sent over, but threatening letters and such.
>> No. 6261 Anonymous
12th May 2016
Thursday 8:45 pm
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>>6258
>>6260

Threatening letters from whom? You're making all this up, aren't you? Admit it. I imagine that there are shop keepers and street traders who regularly deposit amounts greater than that in cash and don't end up having mysterious disembodied suits knocking on their door and sending them "threatening" letters.
>> No. 6262 Anonymous
12th May 2016
Thursday 8:52 pm
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>>6261

In that lads defence one of my best friends from university used to be a busker whilst at uni for money and he was damn bloody good at it too.

He'd regularly make about 100 quid in just pound coins for about an hour or so.

They got very flustered and upset with him one day because he had kept coming in with loads of random change in reasonably high quantities - it does happen.
>> No. 6263 Anonymous
12th May 2016
Thursday 8:59 pm
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>>6261
From HMRC?
>> No. 6264 Anonymous
12th May 2016
Thursday 9:14 pm
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>>6262

Bank staff being flustered (and probably more pissed off to be faffing about with change than about any potential money laundering issues - unless your mate was regularly depositing 4 figure amounts there is absolutely no way that he would trigger money laundering checks) is very different to getting letters from HMRC's Disembodied Suits division demanding you account for what is after all a fairly pitiful sum of money. There is literally no correlation between your mate's story and what the other lad is saying, at all.
>> No. 6265 Anonymous
12th May 2016
Thursday 9:18 pm
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>>6264

Calm down lad, I'm just saying it definitely does arouse suspicion. He was putting in a few hundred quid a week in coins. Isn't that what a bank is for anyway, depositing money?

Regardless, I definitely remember him saying they had a word to ask him if he'd let them know where he was getting all his change from every other day.

I'm not saying George Osborne kicked down his door with a crack squad of HMRC forces.
>> No. 6266 Anonymous
12th May 2016
Thursday 9:23 pm
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>>6265

Sorry lad, rough day.

> I definitely remember him saying they had a word to ask him if he'd let them know where he was getting all his change from every other day.

There may actually be some kind of requirement to report people who are depositing large amounts of "random change" in case they're dealing drugs or supporting terrorism or whatever else kids get up to these days. That's something I didn't think of. I know that if you get nicked with a bunch of drugs and more than a couple of hundred quid in "random notes" that you can't show receipts (bank withdrawal slip etc) for then that can be used as evidence of dealing.

> George Osborne kicked down his door with a crack squad of HMRC forces

Over in the states the IRS already has its own SWAT teams. It's only a matter of time before HMRC and Captain Gideon start knocking down doors on ITV Saturday night primetime.
>> No. 6267 Anonymous
12th May 2016
Thursday 9:52 pm
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>>6266
>Over in the states the IRS already has its own SWAT teams.

I'm too tired (and perhaps gullible) to be able to tell if you're pulling my leg or not.
>> No. 6268 Anonymous
12th May 2016
Thursday 10:50 pm
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>>6267
Well it makes sense, many money laundering operations there will be connected to illegal vice, and I wouldn't want to walk in on a Cartel office and demand to conduct an audit without 40 well armed goons at my back.
>> No. 6269 Anonymous
12th May 2016
Thursday 11:09 pm
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Guys... You're taking a different route...

Basically, can I turn up at my bank, say four times, over the course of four weeks, and deposit £11k (£2750 lump sums) into a savings account or cash ISA without alerting the HMRC SWAT team?
>> No. 6270 Anonymous
12th May 2016
Thursday 11:39 pm
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>>6269

Just start a business and then you can deposit £6k cash a week. Local businesses deposit takings on a Friday, most often, so do it on a Friday.

Then, if it's illicit, wage yourself it and pay all the relevant NI and PAYE on the wage and then you can claim back VAT on practically anything you can justify as a business expense.

Also, get an accountant friend.

If it's just cash you've been given, then split it into two weekly deposits and stick it in your ISA no problem so you don't flag the system.
>> No. 6271 Anonymous
13th May 2016
Friday 12:11 am
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>>6269

> Basically, can I turn up at my bank, say four times, over the course of four weeks, and deposit £11k (£2750 lump sums) into a savings account or cash ISA without alerting the HMRC SWAT team?

Yes. You will be absolutely fine.
>> No. 6272 Anonymous
13th May 2016
Friday 12:19 am
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>>6270

If someone were to be earning that kind of money illicitly on a regular basis then that is pretty good advice for someone who wanted to use some of those illicit proceeds to eventually buy a house or a car, or have a savings nest egg. If it's just a one off thing they're really not going to have any problems dropping a few deposits into an already existing account.

I've done cash deposits of several thousand pounds before when I've bought things for my mum (like a leather three piece suite) on my credit card and she's paid me back in cash, and I've yet to have a problem with it.
>> No. 6273 Anonymous
13th May 2016
Friday 12:45 am
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>>6272
How many thousands are we talking here?
>> No. 6274 Anonymous
13th May 2016
Friday 1:38 am
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I have a somewhat similar query. Is there a limit on wire transfers and the like? What if someone wants to give me some thousands as a gift. Is it better to do it in chunks so it won't trigger anything? I feel like they'd question a large sum being a one off gift, but there actually isn't anything shady about it. I promise.
>> No. 6275 Anonymous
13th May 2016
Friday 3:31 am
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>>6274

I have been domestically wired £130,000 in a single pop before, HMRC never brought it up. I also regularly receive international wires between £10-15 thousand and have yet to have people knocking on my door demanding to know where it came from.

>>6273

The three piece suite was somewhere in the region of four and a bit grand.
>> No. 6276 Anonymous
13th May 2016
Friday 4:12 am
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>>6275
Out of curiosity, what do you do to regularly receive £10-15 thousand and what do I have to do to accomplish this myself?
>> No. 6278 Anonymous
13th May 2016
Friday 4:45 am
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>>6276

I do IT consultancy and one of my major contracts is in the states. As they're also a small company and small company cash flow is terrible they tend to pay in three month intervals or whenever they have the money. Once I settle up occasional sub-contractors and all my legitimate business expenses I end up declaring about half what comes in in my annual self assessment, so I really doubt HMRC is paying much attention to what are (for them) fairly trifling amounts as I've not been audited in the four years I've been doing this.
>> No. 6279 Anonymous
13th May 2016
Friday 5:40 am
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>>6275
Did you buy it on the one day of the year DFS weren't having a sale?
>> No. 6280 Anonymous
13th May 2016
Friday 7:54 pm
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>>6278
What do I have to study to become like you?
>> No. 6281 Anonymous
13th May 2016
Friday 8:10 pm
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>>6275
They're not knocking on your door, but they are investigating lad. You're going on a list. I last worked in a bank over ten years ago and they did it then, they'll certainly be doing it now and more.
>> No. 6282 Anonymous
13th May 2016
Friday 8:29 pm
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>>6281
>You're going on a list.
He's right, you know. Your name is going on the list. What is it?
>> No. 6283 Anonymous
13th May 2016
Friday 10:40 pm
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>>6282
DON'T TELL HIM PIKE
>> No. 6284 Anonymous
13th May 2016
Friday 11:19 pm
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>>6281

They're certainly taking their sweet, sweet time over it.
>> No. 6285 Anonymous
13th May 2016
Friday 11:28 pm
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>>6284
Probably because of ineffectual government bureaucracy, one hand doesn't know what the other is doing and that.
>> No. 6286 Anonymous
15th May 2016
Sunday 9:06 pm
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>>6280
This

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