What people want is more £5 notes.
One of the cash machines in Lincoln highstreet gives out £5 notes
Can't remember which.Demand for £50 notes 'fuelled by lack of faith in banks'
- Thread starter mattheman
- Start date
One of the cash machines in Lincoln highstreet gives out £5 notes
Can't remember which.Just a curious question...
If you die, and leave all your savings in an account to your Son/Daughter, it's subject to the inheritence tax, right?
What if I kept all my savings in cash? It can't be subject to inheritence tax can it?
If you die, and leave all your savings in an account to your Son/Daughter, it's subject to the inheritence tax, right?
What if I kept all my savings in cash? It can't be subject to inheritence tax can it?
Doesn't earn interest in a bank account these days either.
Doesn't matter whether or not it's in a bank it's still subjected to tax, only difference is the government don't know about it....
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It's still subject to tax, it's just a lot harder to be caught for evading it. If it's a very large amount and someone pays it into a bank or manages to live without appearing to spend any of their normal income, HMRC are going to start asking questions.
its much easier to get those individuals with electronic banking.
Deleted member 651465
Deleted member 651465
If I was a multi-millionare I'd exchange all my monies in to £1 coins and re-create "the money bin" from Duck Tales 
they will do very quickly though unless your son/daughter is very careful how they spend it.
Negative interest rates and windfall taxes are a possibility.
Doesn't earn interest in a bank account these days either.
Granted not much. But compared to stuffing bags of wonga under my bed it's a no-brainer.
If matthetard had his own way I would have to spend half my life traveling to various places to pay bills and invoices or send lots of cash through the Royal Fail. I would have to carry all my money on me every time I went shopping. My boss would have to pay me in cash and I would have to hope I don't get mugged while getting it to my super-secure mattress.
Even if negative interest did happen, I would still rather my money be secure and protected. I don't need to risk losing hundreds or thousands of pounds if I am mugged, burgled, house burns down, meteor hits the house etc etc if my money is in a bank account.
I would rather risk losing a few pounds a month than risk losing everything.
ROFL.
All of my friends are 'finance guys' (including my dad and other family) in a variety of positions, and not one of them 'hoardes money' at home.
Is your 'finance guy' source the guy that holds the change purse at the local Fun Fair?
With negative interest on saves you would be paying the bank interest and the bank would be paying mortgage holders interest on their mortgage.
there was a big debate about this, and new mortgage contracts contain a clause that gets them out of this however savings accounts dont.
Well gold bars and cash is the norm, and we arnt talking about bank managers or people that work in retail banks.
That has nothing to do with what I said.
I made the point that even if [and a big if at that] I had to start paying negative interest, I would still rather my money be secure in a bank account where it is, among other things
- Safe from theft
- Safe from accidental loss [i.e. fire]
- Able to be managed securely from almost any location with Internet access
- Able be used to pay bills and other payments from almost any location with Internet access
- Backed by the Government if the Bank went south
- Come with a magic piece of plastic that lets me buy goods and services without the need to carry a large £-sign bag with me everywhere I go.
I would get none of that if I kept my money hoarded at home.
You'll forgive us if we don't just take your word on this you're hardly the most reliable of sources...
Cough*
Soldato
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- 14 Jan 2009
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You've got to be nuts to do it.
A lad at work was telling me, a couple of years ago he was saying to a group of lads he had a grand at home he had been saving to buy a new bed.
Went home after work and it was gone, whether someone at work overhead and went over or whether it was coincidence he didn't know.
Bank is the best place for it, more secure than any other method.
A lad at work was telling me, a couple of years ago he was saying to a group of lads he had a grand at home he had been saving to buy a new bed.
Went home after work and it was gone, whether someone at work overhead and went over or whether it was coincidence he didn't know.
Bank is the best place for it, more secure than any other method.
lol it isnt backed by the government (only NR )but by the FSA and they dont have the money to back the loss of you money from the bank. IF a UK bank went bust it would take you years to get your money back if you get it back, and if you did government would make damn sure the value would depriciate.
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