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Robin9

Don't do it - it smells


Ask yourself why he couldn't transfer directly from his business to his private account.

colsten

Sounds like money laundering. Don't do it. Review the friendship.

BoGoF

If you want your account closed down then carry on.

System

Robin9 wrote: »

Don't do it - it smells


Ask yourself why he couldn't transfer directly from his business to his private account.

Thanks so much..!! Can i be advised of the repercussions in case the transfer happens to my account? I may add that his business is perfectly legitimate and he did mention that by doing this he would be saving some tax.

Sorry for the silly question..

Regards
Preetpal

YorkshireBoy

Preetpal wrote: »

Can i be advised of the repercussions in case the transfer happens to my account?

You tell your bank you don't recognise the payment is yours and ask that they reverse it.

System

BoGoF wrote: »

If you want your account closed down then carry on.

Thanks so much..!!

Are their any links that can help me with some more details around this please? I may add that his business is perfectly legitimate and he did mention that by doing this he would be saving some tax.


Regards
Preetpal

Ben8282

It is not illegal as such but is a very strange request and requires further explanation as to why he wishes to do this. At the very minimum he is attempting to remove funds from his business account intended for his own personal use while giving the impression to anybody who might be checking his accounts (HMRC?) that he has paid the money to you.
Best tell him no or ask for a complete explanation of why and ask again your question telling us why he wants to do this.

System

YorkshireBoy wrote: »

You tell your bank you don't recognise the payment is yours and ask that they reverse it.

Thanks i will surely do that. Just for my knowledge i would like to understand what happens if listen to my friend in the first place and do as is. Will it affect my account, credit history etc? Can i get some more information around this please? Any website links that can be helpful?

Regards
Preetpal

18cc

There are plenty of threads in this forum about people who have had their accounts suddenly blocked by their banks and being unable to access their account without knowing why

Luckily, if this happens to you, you will have the advantage of knowing why

Sounds as though your friend has told you exactly why he wants to transfer the money to your account ie to save tax thus making you an accomplice in tax fraud

Ben8282

Since writing the above I have seen your last post. Saving himself some tax = TAX EVASION = CRIMINAL OFFENCE. Have nothing whatsoever to do with his attempts to defraud HMRC.
You seem interested in what may happen to your bank account or your credit files but that will seem unimportant when you are in court charged with being an accomplice to tax fraud and facing a criminal conviction or worse.