Is there a limit for cash payments

[kolata]

I have a subcontractor that will do something for my LTD. They prefer cash payment for their service.
Is there a limit for cash payments, before one is required to pay by bank transfer?

[missinggreenfields]

No

[Darren at Fox-Bartfield]

Cash

As long as they're providing a genuine receipt which confirms they've received the cash. You should ensure you're covered in case of enquiry or questions.

[missinggreenfields]

Provided you pay in £1, £2, £5, £10, £20, £50 - there is no limit. Payment in 50p and 20p the limit is £10. Payment in 10p and 5p, the limit is £5. Payment in 2p and 1p the limit is 20p.

The recipient is free to accept a payment that exceeds those limits, but they are in their rights to reject the payment as well.

[kolata]

The amount is not that big, but here is the next problem - my business bank doesn't have branches here in Scotland.
So how can I gat some cash. ATM is not an option, or it is inconvenient.

[kolata]

As long as they're providing a genuine receipt which confirms they've received the cash. You should ensure you're covered in case of enquiry or questions.

They provide receipt from a cash register - is this good enough.

[northernladuk]

They provide receipt from a cash register - is this good enough.

Surely you can work this one out for yourself?

[kolata]

Surely you can work this one out for yourself?

Feck off.

[Alan @ BroomeAffinity]

The amount is not that big, but here is the next problem - my business bank doesn't have branches here in Scotland.
So how can I gat some cash. ATM is not an option, or it is inconvenient.

I'd have thought those are your only options. And realistically how inconvenient is going to an ATM? Even up here in backward Scotland there's one every 50 yards. Another option is to tell your subbie you can't pay him cash. Big then you'll not never get your discount and he'll need to pay tax on it ;-)

[Lance]

I'd have thought those are your only options. And realistically how inconvenient is going to an ATM? Even up here in backward Scotland there's one every 50 yards. Another option is to tell your subbie you can't pay him cash. Big then you'll not never get your discount and he'll need to pay tax on it ;-)

If the OP knows that the reason for cash is to evade tax then he is also breaking the law by paying cash. Conspiracy to fraud amongst others I think. IANAL.