Over 100,000 pounds in bank account

Accou3

Hi,

I have over 100,000 pounds from sale of flat i want to deposit in my bank account.

Would I be arrested if I went into a branch and asked for a bank statement with that amount in my account?

Not many folk have that amount in their account you see.

Obviously it’s over the 85k limit.

fwor

Accou3 wrote: »

Would I be arrested if I went into a branch and asked for a bank statement with that amount in my account?

Not many folk have that amount in their account you see.

The line of reasoning here seems to be that not many people have more than £100,000 in their account, and so therefore you are likely to be arrested if you ask for a bank statement for your own account which has more than £100,000 in it?

What makes you think that this is likely? Presumably the bank staff won't arrest you, though I guess they could conduct a citizen's arrest if they considered it appropriate. So otherwise I suppose they would have to call the police - though I'm not sure exactly what they would say when asked why the police are being called?

Perhaps you can explain the thinking behind your post in a bit more detail?

You are correct though that more than £100k is over the £85k limit.

Nebulous2

What £85k limit? If you mean for the compensation scheme then there is a short-term exemption for the proceeds of a house sale.

[Deleted User]

Why would you get arrested for having £100,000 in a bank account and where I assume you also have proof that it is proceeds from a house sale?

Strange question.

deadendwaterfall

Deleted_User wrote: »

Why would you get arrested for having £100,000 in a bank account and where I assume you also have proof that it is proceeds from a house sale?

Strange question.

The question is better than what we could have got, something along the lines of something most likely fictional such as "The bank practically kidnapped me by refusing to let me leave the branch because I requested a statement from my account, do I deserve compensation?" followed by a snide remark from someone about the kids not being back at school until January.

HHarry

It’ll be fine. I had more than that from the sale of my Mums house for a short while.

If you turn up with £100k in cash and try to pay it in there may be some trouble!

DCFC79

No 1 will arrest you unless the money is from something illegal.

You could split the money between 2 accounts.

colsten

DCFC79 wrote: »

You could split the money between 2 accounts.

Will they then get arrested twice?

Hasbeen

Accou3 wrote: »

How much tax due on 130,000 pounds?
Son sold some artwork to America. This is what he got for it.
Thanks.

Ask your son what he did. £100000 is not a huge amount these days, people sell houses at over that regularly and money is transferred into bank.

Might be more difficult due to money laundering laws to just walk in with pockets stuffed with cash though.

So is it cash or bank transfer?
Your are asking about statements? is money already in bank?

There is no £85000 limit to savings. That is the limit the money is protected to if the bank fails.

colsten

Accou3 wrote: »

I have over 100,000 pounds from sale of flat

Accou3 wrote: »

How much tax due on 130,000 pounds?
Son sold some artwork to America. This is what he got for it.

Accou3 wrote: »

HMRC want proof of income for 17 to 18 tax year.
This income came from overseas company.
This company is now closed.
So, I have no means to contact them for this information.

Any more explanations for the source of the money? No wonder Accou3 is concerned about getting arrested.

veryintrigued

Dear tax police.

Do you read social media?