Friend paying wages into my bank account.

Bloomberg

davesweb1206 wrote: »

(Sorry if this is in the wrong forum?)

I have a dilemma that I need advice with.

A while ago, a friend started work - he didn't have a bank account and asked me to if he could use my account to pay his money in while he gets it sorted.

I had a dormant account which I allowed him to pay into.

However, its now been almost a year he's been using the account, I've asked him to get his own account and he's saying he can't as his credit file is really poor.

My issue is I have started running my own business, and I'm worried about the implications of having to declare an income that is not technically mine, but looks as if it is mine on this account.

Obviously I don't want to put a friend out but nor do I want to pay any tax on his income, so I was wondering, is there a way I can allow him to use the account without the tax office questioning that 'income' or is it best allow round to get him off my account?

Any help or advice!

Thanks,

Dave.

I have always maintained that friends/people and money do not mix. Give your friend two weeks notice to get his own account. It is very altruistic of you but as mentioned by other readers you may be compromising you financial well being without any potential gain.

If your friend is unhappy about this then so be it. He should just be grateful that this situation has been allowed to run on for as long as it has. All the best,

davesweb1206

Hi everyone,

Thanks for the advise - I am helping him get a new account.

The account of mine he's been using has no facilities on it, such as an overdraft or direct debits.

He should have a new account in a week or so, and yep - freinds and money do not mix

Thanks again, Dave.