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Too much cash in the house problem.
33 replies 5.5K views
Between my mother 90 and myself 58 we seem to have over £15k in cash, before anyone jumps up and down claiming it's must be illegal it isn't.
The problem is I can't easily or possibly prove it, I've never had a credit card and mostly used cash for purchases except for business where I used cheque or debit card.
I have always lived at home, yes it's sad, no holidays or flash cars.
The Tax office at one point wanted to know why I didn't spend much, I was actually spending even less than they thought hence the cash began to grow.
My parents didn't want any money from me for rent or food, I did give my dad a little for beer money but after his death we found most of it in the wardrobe.
Some of the money was my mothers but I don't remember how much, she had a stroke about 14years ago and can't communicate, so I had to do all the banking.
I've drawn out some money over the years and if I got too much I just added it to the pot.
All the money has at one time gone through our banks and tax paid, I have around 500k in various bank accounts and shares, my mother around 250k.
These days I only work part time for something to do and make almost nothing I'm also caring for my mother since the stroke.
I don't know why my mother had large amount of cash, maybe worried by inheritance tax or banks going belly up.
Obviously with the change in the £20 notes this has become an issue and I don't want to loose it.
I was investigated about 20+ years ago (random inspection) and that cost me over a thousand pounds paying my accountant to deal with it and in the end they found I owed them nothing. I was a real night mare.
I really don't know what to do for the best.