best way to put lump sum of cash into bank account?

MoneySaverLog

GeorgeHowell wrote: »

there may be some obscure small print legislation lurking somewhere such that when tax is at stake the normal rules about data protection somehow don't apply.

Indeed there is, there are exempt clauses thoughout the DPA.

bigfreddiel

pearley1981 wrote: »

Thanks for the advice!!
its just cash ive put aside and its ended up building to £20000.
i was going to put it in the bank and use it as a deposit for a property...my main concern was the bank would contact the inland revenue...hopefully they will just accept it without any questions...

please tell us all why you didn't deposit in the bank as you recived it?

ilovelacoste

pearley1981 wrote: »

Thanks for the advice!!
its just cash ive put aside and its ended up building to £20000.
i was going to put it in the bank and use it as a deposit for a property...my main concern was the bank would contact the inland revenue...hopefully they will just accept it without any questions...

Go with your bank who you bank with all the time and open a savings account of some description, the only thing they should ask if you have any plans for the money.
I have just deposited £35000 into a savings account and thats all i was asked

WisdomTooth

Last year the father in law ( widowed and retired )
had just over £10000 in five pound notes ( all ironed )

he just collected them over last few years , ( and liked to keep the cash near by , as i am sure many older people do )

anyways we convinced him to put them into savings accounts
so we paid it into an isa 5000 in March , then the other 5000
in the new tax year in April etc ,

i paid one into the account and the wife the other ,
i wondered what they would make of it in the building society
the assistant on seeing all those nicely pressed fivers
just said "no wonder we have have a shortage of five pound notes , you have them all " :money:

i think if you pay the 20k in 4x 5000 it shouldn't raise any eyebrows

prosaver

le_loup wrote: »

Difficult to put pound notes into a bank account ... online.
You have to roll them very small to get down the wire.

pound notes, i thought they weren't legal tender any more

maybe you could say you found the money in a real strange place, like under a tree and hand it to the police then after 6 months it will be legally yours
simples

bigfreddiel

just say you won it on a scratchcard

but i still would like to know why you didn't pay it in as you earned it?

fj

grey_gym_sock

a member of my family sold a flat and was paid 100% with cash. however, this was not in the UK.

Thrugelmir

darkpool wrote: »

HMRC aren't that stupid though....

Drip feeding can take many weeks...............

opinions4u

My word there is some garbage posted on this thread!

Not going to pinpoint it though ...

Nine_Lives

opinions4u wrote: »

My word there is some garbage posted on this thread!

Not going to pinpoint it though ...

Which makes pointing it out kind of pointless really...