Will a bank allow my sons wages to be paid into my account.

PeacefulWaters

has13 wrote: »

Even savings accounts are not permitted to be opened.

Building societies and credit unions may offer more flexibility.

System

Some of the prepaid cards might be an option - most have charges attached but are better than nothing

has13

Prepaid cards and building societies are no different when it comes to cifas.

Spoke to the Bank and they have no issue and also Hmrc are happy as long as it is taxed income and they recommend keeping payslips or proof for future reference.

Thanks for everyone’s help it has been very good.

djpailo

I think it may be possible for you to talk to your bank and cite mental health reasons. Maybe they may show some compassion, although admittedly it is unlikely e.g.

http://www.santander.co.uk/uk/help-support/supporting-your-needs/i-have-a-mental-health-issue

If your son has done this, perhaps you should in the future make yourself power of attorney?

qwert_yuiop

verybigchris wrote: »

Once the money is paid into your account, it's your money, not your son's. Of course you're free to gift it back to him, but there may be some potential problems around inheritance tax, deprivation of assets, eligibility for means-tested benefits, etc.

The money would need to be taken out as cash and either given to your son as bank notes or stuffed into the mattress. Otherwise there’s going to be a paper trail which would take a bit of work and explanation later on. Get a safe.
There’ll be an income tax implication to that money flowing through your account.

has13

Hmrc said it was ok with payslips, and paper trail which is fine.

jonesMUFCforever

has13 wrote: »

Hmrc said it was ok with payslips, and paper trail which is fine.

Since HMRC do not provide bank accounts I would take this with a pinch of salt.
It will be against the terms and conditions to do this on a regular basis.

northwalesd

jonesMUFCforever wrote: »

Since HMRC do not provide bank accounts I would take this with a pinch of salt.
It will be against the terms and conditions to do this on a regular basis.

Whose T&Cs? OP has spoken to his bank and they are fine with it (post 14)

LMG1305

jonesMUFCforever wrote: »

Since HMRC do not provide bank accounts I would take this with a pinch of salt.
It will be against the terms and conditions to do this on a regular basis.

I think the OP was referring to the implication of Income Tax when they mentioned HMRC.

tyllwyd

I don't see why there would necessarily be an income tax implication. You only have to pay tax on money that you earn, so if someone else's money comes into your account, they are liable for their own income tax and you are liable for yours. That's how it works for joint accounts - and OK potentially HMRC might ask for additional proof but as long as you had all the paperwork and all the correct PAYE tax had been paid, I don't see the problem.