Proposal to ban cash payments?

[Gavin John Hyde]

On radio last night they were discussing the idea that the tax man might ban cash payments for tradesmen/women.
The idea is that for jobs over a certain amount you would have to take card/cheque or bacs transfer. It will also stop cash in hand for a lower fee
They are supposedly going to be doing this in some continental countries and the UK are considering it.
Personally, I now use a card reader (£30 cost )and take chip and pin, it saves going to the bank and links in well with quickbooks. I pay a o.75% transaction fee.
What do people think about possibly going to cashless system? If you are not fiddling the books i guess you got no complaints but if you do the odd job on the side it could impact you.
Cash-in-hand payments could be banned in the Spring Statement | Daily Mail Online - http://www.dailymail.co.uk/news/article-5497783/Cash-hand-payments-banned-Spring-Statement.html

 

[Squid]

£50's... the government are looking into scrapping them.... so spend them whilst you can!

I already did about £70k's worth lol

 

[FatAlan]

They’d have to ban cash. Simples!

 

[EbolaSideRoom]

As a (mostly) domestic sparks who prefers to email invoices and receive BACS payments online it’s unlikely to make any difference to me. The most I’ve ever accepted in cash was +\- £1k and that still went into the bank. Although I begrudge being charged to pay cash in I’m also charged for submitting cheques. I’d consider a card reader though...
OP, do you accept debit and credit cards, or debit cards only?

 

[FatAlan]

Masses of ways to deal in money. Get paid in Amazon vouchers, other retail vouchers, swap for other services etc. Let’s face it the banks have to adhere to strict money laundering regulations and make hundreds of suspicious activity reports to law enforcement agencies every day with the majority ignored due to lack of resouces. Law abiding joe bloggs is an easy target. Big business spends most of it time avoiding tax by one scheme or another. We need taxes but as soon as things get tight people start to get very imaginative.

 

[Gavin John Hyde]

I’d consider a card reader though...
OP, do you accept debit and credit cards, or debit cards only?

I can take any debit/credit card including Amex, I wrangled a introductory offer for first year at 0.75% fee, it can be between this and 1.65%. but when i factor in parking to go to the bank, fees for paying in cash and time/security, i see the fee as worth it from my view. I use sum up as its cheaper than paying a couple hundred for one of the old school card terminals that print receipts like you get in shops.

 

[Octopus]

What I object to are the charges that banks charge me for paying in cheques and cash

Cheques - I use their machine

Cash - I pay into my personal account (no charge) then BACs it into my business account

 

[plugsandsparks]

Does not affect me. I get the odd cash payment , dont bother paying it into the bank, just show it in quickbooks. cheques are a pain in the arse and cost me a small fortune to process. They should ban cheques.

 

[telectrix]

They should ban cheques.

more to the point. they should ban banks. robbing bar stewards.

 

[sparksburnout]

What I object to are the charges that banks charge me for paying in cheques and cash

Cheques - I use their machine

Cash - I pay into my personal account (no charge) then BACs it into my business account

 

[Des 56]

Say what you like about cash, there's no denying,getting a thousand in £20 notes to stuff in your pocket feels great
A lot better than looking at the numbers on a screen a couple of days later

 

[sparksburnout]

Say what you like about cash, there's no denying,getting a thousand in £20 notes to stuff in your pocket feels great
A lot better than looking at the numbers on a screen a couple of days later

It's not safe to do that, you might get robbed on your way to the bank, you know, to pay it in.

 

[telectrix]

It's not safe to do that, you might get robbed on your way to the bank, you know, to pay it in.

who says you going to pay a grand into the bank? keep it in house. beer and smokes for the next 3 months.

 

[sparksburnout]

who says you going to pay a grand into the bank? keep it in house. beer and smokes for the next 3 months.

Too right. Stuff Dracula.

 

[Des 56]

It's not safe to do that, you might get robbed on your way to the bank, you know, to pay it in.

Na sparks burnout,no chance of that,too many years spent cuddling wads of them,that is until they reside nice and comfortable in my home

There is no chance of them wandering into other peoples clutches,if someone decided to try and rob me,they had better be prepared for the stakes to be the winner lives

 

[telectrix]

what's my uncle drac got to do with the thread?