Law on buying cars with cash

[okenemem]

Mate of mine bought a audi tt , from a car dealer. He paid 16 grand cash notes.

My understanding of the law is that if you go to a car dealer with that amount of cash police would be called and you would be arrested for money laundering.

[okenemem]

Everyone knows that if u walk into a dealers with alot of cash alarms will be raised

[okenemem]

Sorry to sound stupid , but what authorities are talking about

[okenemem]

Jasandjules said:

You are mistaken.

The dealer should report it to HMRC (IIRC) so there is a log of it. Basically, your mate might be asked to explain where he got the cash from - which is usually a simple case of providing the bank withdrawal....

How long do u think it will take before they contact him

[okenemem]

Thanks everyone for ur imput , very good information

[okenemem]

M5 Russ said:

I purchased my M5 for £13k in cash as I don't have a debit card and my credit card limit is a grand. The dealer was not too happy about it though as I recall.
I own a taxi company where every penny I earn is cash. I have no need for a high limit credit card and have no desire to get or use a debit card.

For me cash is king and always will be.

Was you ever contacted and questioned by the hmrc