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Gavin John Hyde

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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
 
It wouldn't bother me to be honest, I was always squeeky clean and never hid anything, but I don't think banning cash payments is the right thing to do at all.
 
As someone who has a card reader, was it a difficult process to get one? I speak as someone who's been intrigued by part of your post. The limit from reading the post is £13,000 which to be fair is pretty high.
 
As someone who has a card reader, was it a difficult process to get one? I speak as someone who's been intrigued by part of your post. The limit from reading the post is £13,000 which to be fair is pretty high.
to get a card reader i went on the sum up website paid my £29.99 and it came in post 3 days later, can start taking card payments via chip and pin or contactless for very small little jobs. money goes into bank account within 3 days and fees are around 0.65-0.75%.
 
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

They have already done it in the scrap metal business to try to make it more difficult to dispose of stolen copper etc...
 
to get a card reader i went on the sum up website paid my £29.99 and it came in post 3 days later, can start taking card payments via chip and pin or contactless for very small little jobs. money goes into bank account within 3 days and fees are around 0.65-0.75%.
Have you found using a Card Reader has reduced the number of late payers etc as they can be charged on the spot so to speak?
 
Have you found using a Card Reader has reduced the number of late payers etc as they can be charged on the spot so to speak?
unless it is a regular customer such as a landlord i work for who i invoice on a monthly basis and trust to pay me or other known customers, everybody else is payment on presentation of invoice/job completion. 90% of my work is domestic so customers have been fine paying via chip and pin on job completion so no late payers, I also like the fact it means i dont have to pop into town to the bank and park etc.. the <1% commission is less than the parking fees would be.
 
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?
 
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.
 
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.
 

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