What do I do with my money to keep it safe and keep the banks off my back?

[Serendipity]

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[Anika Mae]

You're declaring your income and paying the appropriate tax, yes? In that case you have nothing to hide. The bank doesn't care how and how much you get paid as long as it's legal.

[amy]

I'm not sure what you mean by 'suspicious'? Why would the bank be 'on your back'?

I bank all my earnings bar the odd bits I keep out for day to day stuff - it's far safer, I'm less tempted to spend it and makes it a lot easier to do my accounts (I buy virtually all my work stuff with my debit card, so my expenses are easy to track too). Having proper records on your bank statements and a good, provable income history will also help if and when you want to borrow money, buy property and so forth and won't hurt with the tax office either, should you ever get picked out for a going over.

If you are wondering about the bank asking you where you got the money (and it would have to be a lot - I banked nearly ?2K today in my local branch and nobody batted an eyelid) and you don't want to tell the truth, you can just say you earned it, won it at the casino or the bookies, anything you like! I've only ever been asked once where some money I was paying in was from in x number of years, I told them it was my earnings for the last few days and that was the end of it. I've never heard of any bank regularly 'questioning' a customers cash deposits, but I use LloydsTSB if that's any help.

[Serendipity]

I am a university student with an office job (part time) that I never go to, I haven't been in months. So wont they question why I keep depositing money?? Wont they try to tax me?

[Serendipity]

So you're saying they wont question me at all?!

[Anika Mae]

The bank doesn't tax you, HMRC do. And yes, if you try to hide the fact that you're earning up to a grand a week you can get into a lot of trouble, whatever you do with the cash.

It sounds like you haven't registered as self-employed, but the only thing you're late for paying is your Class II National Insurance Contributions. Call HMRC, tell them you're young and confused and didn't realise you need to register but you know better now and it's quite unlikely that you'll be penalised. Then sort out your accounts and make sure you have at least 20% of your income (going back to when you started working) saved to pay your tax bill when it's time to pay. (You'll need more than 20% to cover Income Tax and Class IV National Insurance Contributions if your average is anywhere near ?1k/week. You can ask one of HMRC's advisers to give you a more accurate estimate if you tell them how much you're earning.)

[Anika Mae]

On being paranoid about depositing cash:
http://www.saafe.info/main/index.php?topic=5076.0

On paying tax:
http://www.saafe.info/payingtax.htm

And of course, the SAAFE main index, with all the articles. READ THEM.
http://www.saafe.info

[Serendipity]

I don't want to be taxed though, so any suggestions?

[ana30]

Why would they question you? Unless you're depositing a million a month in cash (which I'm sure you aint) while wearing a "zorro" mask  they won't question you zero. Nada. And if anyone ever questions you...well.. you have a rich boyfriend. Voila! I do reccomend  paying some taxes for the reasons Amy stated. If you want to get a credit card, an apartment etc... they will ask for tax returns. And the sooner you start paying taxes the bigger your pension will be once you retire. So paying taxes  it's not  a bad idea after all.

[Serendipity]

So even if I don't sign up to get taxed they wont question my deposits?

[Anika Mae]

I don't want to be taxed though, so any suggestions?

Suck it up. You've almost certainly taken far more from the state than you've ever put in at this point. Now you're a grown-up and you have to start paying for it like the rest of us.

[ana30]

I don't want to be taxed though, so any suggestions?

Go and pay a visit to Zurich. I've heard it's a beautiful city.

[amy]

I don't want to be taxed though, so any suggestions?

Suck it up. You've almost certainly taken far more from the state than you've ever put in at this point. Now you're a grown-up and you have to start paying for it like the rest of us.

What she said. We have enough parasites already, and I really don't see why the people taking home <?200 a week after their tax is deducted via PAYE should have to subsidise you.

[Anika Mae]

Also, I don't think anyone on here is inclined to give hints on not paying tax, but if you do get the urge we don't want to hear it. Not declaring your income is not only fucking stupid, it's illegal and we don't encourage it here.

[Serendipity]

Woah. All I'm saying is that I don't want to pay tax as I don't wish to disclose that I am an escort!!!