Large cash withdrawals from Nationwide...

castle96

ENGLISH !!!!!

colsten

castle96 said:

Colsten - ALWAYS look/like your posts. Very informative, but please don't think you know ANYTHING about my circumstances. 3 sons, £20k each. ! is s/empl. Like ANY S/empl person, cash is king. I was too. Will YOU WILLINGLY have to disclose a sum paid into any a/c (there is NO tax payable by him on this (yet/maybe/IHT). Would I prefer cash ? Yes. Answer honestly - would you? Wouldn't ANYONE?

I don't need to know anything about your circumstances. I just go by what you have posted in this thread. Cash in hand, whilst widely practised in the UK, is illegal, as it is almost certainly tax evasion. You have explicitly stated that the reason for your transaction is to 'avoid' tax, and I have already explained that it's actually tax evasion you/your son are planning to do. Whether Nationwide are there to police you, I don't know, but they are obviously not happy with your request for the cash.

castle96

Nothing to do with N/W. No tax is payable on this GIFT (bar any 7 yr/IHT). Why would he want £20k going into his a/c from wherever it comes. He/I have not defrauded/avaded. Dont be so bl**dy judgemental. My use of "avoid tax" was wrong, OK. Thereis NO tax liable/payable

colsten

castle96 said:

Nothing to do with N/W. No tax is payable on this GIFT (bar any 7 yr/IHT). Why would he want £20k going into his a/c from wherever it comes. He/I have not defrauded/avaded. Dont be so bl**dy judgemental. My use of "avoid tax" was wrong, OK. Thereis NO tax liable/payable

So just use a bank transfer. Problem solved. 😂😂😂

castle96

why?? BT is not cash!

colsten

You have no reason to use cash as you/your son have nothing to hide, don't you? So you would both be completely happy with the audit trail that exists with bank transfers, wouldn't you.

castle96

I couln't care less. HE is self-emplyed. He wants cash (why not - all would). Why do you refer me to Nationwide. My original post said Santander. Self employed = cash is king. Obvious. No issue here matey

colsten

Even though it's now nothing at all to do with tax avoidance , I thought I have a quick google to see whether banks/building societies can be held responsible if they facilitate tax evasion.
 
Here is an extract from the relevant Government guidance. This might explain Nationwide's reluctance to cooperate.

castle96

Again! I have no involvement with Nationwide (you deaf?). There is no avoidance/evasion. Why do you keep saying there IS. He prefered cash. So would ANY self-emplyed person. No crime. No problem

bigadaj

I don't understand why 'anyone' would prefer cash, notwithstanding the issues around covid theres the risk of loss or theft and security.