Originally posted by scooterscot
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Reply to: cash in hand or cheque
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Previously on "cash in hand or cheque"
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So it sounds like getting 10% off should not be too much of a problem... thanks people.
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A mate of mine runs a car servicing and repair business. He will do cash jobs for friends that are discounted by the VAT and don't go through the books. He said it was a bit of a nightmare keeping on top of it all because he didn't want to get to the point where he was reclaiming more VAT than he was collecting as it would look suspect.
Twenty years ago I brought a guitar from a shop. When I went to pay for it with cash the bloke knocked 12.5% off the price and said "That's the best I can do." I was innocent of such things in those days and had no idea why I suddenly got this discount.
I have turned down quotes from removal firms in the past because the bloke assessing the quote has said "If you don't want to pay the VAT we can do something about that."
It's endemic.
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Originally posted by Paddy View PostThere are a number of trades people I know who "will knock the vat off for cash" The punter thinks he on on to a good deal nudge nudge but the trader still puts it through the books and pays the vat.- get the sale
- get paid promptly without the hassle of bouncing cheques or credit card charges
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Originally posted by Paddy View PostThere are a number of trades people I know who "will knock the vat off for cash" The punter thinks he on on to a good deal nudge nudge but the trader still puts it through the books and pays the vat.
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Originally posted by TheFaQQer View PostThat's libellous. How do you know that he's not paying VAT on it, or putting it through the books?
As a small trader, he may find that accepting cash is a better payment method because he incurs lower charges, or enables him to purchase materials quicker, since he doesn't need the payment to clear.
There are many legitimate reasons for accepting cash payments.
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Originally posted by TheFaQQer View Post
Shouldn't that be
"</pedant>"
?
We have a tag for spelling and pointless pedantry
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Originally posted by TheFaQQer View PostThat's libellous. How do you know that he's not paying VAT on it, or putting it through the books?
As a small trader, he may find that accepting cash is a better payment method because he incurs lower charges, or enables him to purchase materials quicker, since he doesn't need the payment to clear.
There are many legitimate reasons for accepting cash payments.
It's not libellous. You can't identify an individual.
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Originally posted by TheFaQQer View PostThat's libellous. How do you know that he's not paying VAT on it, or putting it through the books?
As a small trader, he may find that accepting cash is a better payment method because he incurs lower charges, or enables him to purchase materials quicker, since he doesn't need the payment to clear.
There are many legitimate reasons for accepting cash payments.
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And if it goes wrong - what evidence you got to get him to fix it?
I'm all for a bit of the black economy (can we still say that?), but sometimes it can work against you.
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