Cash-in-hand payments could be banned?

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vidcapper View member profile	14th March 2018, 07:53 AM Post #1
Paul Hyett Joined: 4 April 2006 Posts: 25,346 User: 364	http://www.dailymail.co.uk/news/article-54...-Statement.html Cash-in-hand payments for tradesmen could be banned under a crackdown on tax-dodging proposed in the Spring Statement The proposals are a bid to gather as much as £3.5 billion from hidden economy Cash payments common in return for tradesmen charging less for work Tax authorities take a dim view, believing many workers are flouting the system Treasury considering example of other countries who have maximum cash limit ************************ Yeah, yeah, I know the source - but compared to the tax breaks given to some big companies, this is just a drop in the ocean. Besides, tradespeople often give you a much better deal if you pay in cash, so customers would be hit as well as traders...


Silas View member profile	14th March 2018, 08:22 AM Post #2
Queen of Soon Joined: 24 May 2007 Posts: 74,090 User: 3,474	The reason you get a better deal is because you’re not paying VAT which is VAT fraud. This needs to be addressed quite urgently but this is not an appropriate way to go about it. Some form of sales/purchase listing that is electronically transmitted would be preferable, like the new system they have in Spain called SII (translates as immediate supply of information) backed up by mandatory electronic invoicing would work best. Tax breaks and general abuse of corporation tax needs to be addressed, but that doesn’t mean we shouldn’t tackle VAT fraud that’s worth billions per annum


vidcapper View member profile	14th March 2018, 09:05 AM Post #3
Paul Hyett Joined: 4 April 2006 Posts: 25,346 User: 364	QUOTE(5 Silas Frøkner @ Mar 14 2018, 08:22 AM) The reason you get a better deal is because you’re not paying VAT which is VAT fraud. This needs to be addressed quite urgently but this is not an appropriate way to go about it. Some form of sales/purchase listing that is electronically transmitted would be preferable, like the new system they have in Spain called SII (translates as immediate supply of information) backed up by mandatory electronic invoicing would work best. Tax breaks and general abuse of corporation tax needs to be addressed, but that doesn’t mean we shouldn’t tackle VAT fraud that’s worth billions per annum If only politicians themselves would set a better example.


Silas View member profile	14th March 2018, 12:35 PM Post #4
Queen of Soon Joined: 24 May 2007 Posts: 74,090 User: 3,474	They should. The wealthiest in society avoid tax at disgusting rates and that is never going to be effectively dealt with while the people making the laws benefit from the current system. It’s a major down side to the current set up and the nature of politics and those who are able to join the field. They statistically come from a wealthy background and will look after their pocket first


Popchartfreak View member profile	14th March 2018, 12:50 PM Post #5
BuzzJack Legend Joined: 18 July 2012 Posts: 22,851 User: 17,376	I agree the rich should first set the example for the rest of us to follow. that said, cash in hand is a fact of life and the only way to stop it is to end cash. Hmmm now there's a likely future thought, more ways to track cash on people claiming benefits. Bound to happen, all they have to do is charge more to people using cash. I think I just invented the first Tory party policy post-Brexit....


vidcapper View member profile	14th March 2018, 02:22 PM Post #6
Paul Hyett Joined: 4 April 2006 Posts: 25,346 User: 364	QUOTE(Popchartfreak @ Mar 14 2018, 12:50 PM) I agree the rich should first set the example for the rest of us to follow. that said, cash in hand is a fact of life and the only way to stop it is to end cash. Hmmm now there's a likely future thought, more ways to track cash on people claiming benefits. Bound to happen, all they have to do is charge more to people using cash. I think I just invented the first Tory party policy post-Brexit.... But the downside to that is that it would mean that even legitimate financial dealings could not be kept private - there would inevitably be a paper trail.


Long Dong Silver View member profile	14th March 2018, 04:21 PM Post #7
Buffy/Charmed Joined: 18 April 2013 Posts: 44,107 User: 18,639	This is awful. Just another way to punish the poor.


Suedehead2 View member profile	14th March 2018, 04:50 PM Post #8
BuzzJack Legend Joined: 13 April 2007 Posts: 36,676 User: 3,272	QUOTE(vidcapper @ Mar 14 2018, 02:22 PM) But the downside to that is that it would mean that even legitimate financial dealings could not be kept private - there would inevitably be a paper trail. I'm not sure the Tories would consider that to be a downside - apart from their offshore dealings of course.


Silas View member profile	14th March 2018, 07:16 PM Post #9
Queen of Soon Joined: 24 May 2007 Posts: 74,090 User: 3,474	QUOTE(vidcapper @ Mar 14 2018, 02:22 PM) But the downside to that is that it would mean that even legitimate financial dealings could not be kept private - there would inevitably be a paper trail. No legitimate financial dealing is afraid of a paper trail, in fact in order to be legitimate and legal there must be a paper trail. Only reason to “keep private” is to evade tax QUOTE(Shia LeMuffQueef @ Mar 14 2018, 04:21 PM) This is awful. Just another way to punish the poor. No it isn’t. It’s a ham fisted solution to a real problem. Cash in hand payments often evade tax. Cash in hand payments to employees are below minimum wage avoiding income tax, national insurance and the employers obligations in respect of national insurance. Preventing cash in hand payments will help the least well off by helping to end their exploitation


vidcapper View member profile	15th March 2018, 06:58 AM Post #10
Paul Hyett Joined: 4 April 2006 Posts: 25,346 User: 364	QUOTE(Suedehead2 @ Mar 14 2018, 04:50 PM) I'm not sure the Tories would consider that to be a downside - apart from their offshore dealings of course. Which is precisely why nothing is likely to end up being done... QUOTE(5 Silas Frøkner @ Mar 14 2018, 07:16 PM) No legitimate financial dealing is afraid of a paper trail, in fact in order to be legitimate and legal there must be a paper trail. Only reason to “keep private” is to evade tax I disagree - for example, surely it would be better to borrow a few hundred quid off a friend, than have to have to resort to one of those pay-day lender 'loan sharks'? The latter are definitely something that need tackling!


Popchartfreak View member profile	15th March 2018, 01:37 PM Post #11
BuzzJack Legend Joined: 18 July 2012 Posts: 22,851 User: 17,376	QUOTE(vidcapper @ Mar 15 2018, 06:58 AM) Which is precisely why nothing is likely to end up being done... I disagree - for example, surely it would be better to borrow a few hundred quid off a friend, than have to have to resort to one of those pay-day lender 'loan sharks'? The latter are definitely something that need tackling! so what's the difference switching it between bank accounts? Gets paid back, evidence is there. Not a problem. Payday lenders should be banned. or forced to accept reasonable rates of return.


vidcapper View member profile	15th March 2018, 02:48 PM Post #12
Paul Hyett Joined: 4 April 2006 Posts: 25,346 User: 364	QUOTE(Popchartfreak @ Mar 15 2018, 01:37 PM) so what's the difference switching it between bank accounts? Gets paid back, evidence is there. Not a problem. Payday lenders should be banned. or forced to accept reasonable rates of return. But why should there be an obligation to create a paper trail if you are doing nothing wrong?


Silas View member profile	15th March 2018, 05:52 PM Post #13
Queen of Soon Joined: 24 May 2007 Posts: 74,090 User: 3,474	Why shouldn’t there be a paper trail if you’ve done nothing wrong? What are you scared of?