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Money Laundering - Cash

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There is only so much you can do with money earn't as "cash" now since new legislation was introduced to hinder the proceeds of crime, and funding of terrorists, etc.

Call me stupid (im sure some of you will),

But I know for a fact with the recent legislation brought in well over two years ago:-

if you go and buy a car cash over 10k, you get reported,

if you deposit large quantities of cash in a bank you get reported,


but if you dont "spend" much out of your bank account from normal emplyment and all your income goes on your mortgage, Ie, self certified. Surely this encouraged people to capitalise their cash, its clean money when sold, even if you make a loss of 40% following HPC, its still fine, as its only the tax you should have paid anyway. So are peeps worried of a HPC, no, are family's with hard workers, YES im sure they are. They are just paying the tax on properties people have available as they are avoiding Tax!

You can still pay domestic bills cash, council tax cash still, all untraceable. Repairs easy in cash! House Extensions... CASH, Ive seen it happening all around me. Increasing the price of their tax free haven. How strange!!!! A lot of people also pay rent in cash too.

So people are bending the rules to get a mortgage self cert 10x times what they earn on paper. But its easy to afford, becuase of the cash they dont declare on their self assessments.

It was only sometime ago, that a hairdresser I knew, was still paying his mortgage in cash deposits each month/week. How he managed to stay under the VAT threshold £52k and have 5 staff bewilders me?!?

But its all starting to make sense to me now, this is how people are bringing their unsolicited earnings into society, by making it unaffordable to the rest of us.

I would like to see the government looking into how to stop this, straight away!

1) everyone who applied for their mortgage's, should have these details of proof of earnings available to the revenue, from the relevant mortgage companies, and compare with proof of tax payments which correspond to the declared income. A simple cross cast/check, I wonder how many people would stop lying about earnings??

2) Should they have lied historically, chg 50% capital gain on the sale of the property, with the proceeds going to new housing development. With a "standing charge" over the property.

3) and the back pay of all tax's and penalties!... time to get tough and look at the impact on House prices then!

It makes me sick, that to get by in this world, it comes to this! it really does!

Im interested to hear what you guys have to say about this!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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