Hot money.

[Tango13]

If you're going to use the cash for day to day stuff like food, petrol, clothes etc then don't have any store reward cards!

There was a case a while back where HMRC had a successful prosecution based on a Tesco club card. The card was showing an expenditure way in excess of what what was sustainable on their income once their direct debits/standing orders had been taken into account.

[the tribester]

WCZ said:

anonymous said:

[redacted]

it's an absolute fact. 40% is pretty common and there are people in London you can go to with a suitcase of cash who'll sort you out.

I like some of the suggestions, but this one I can't figure. You give your dosh in a suitcase to a person in London who launders it, but what do you get, and how do you get it? What am I missing?

[KingNothing]

Doofus said:

Take it to the police station, and tell them you found it.

If nobody claims it in three months, it's yours!

I may be mistaken, but isn't there a thing where if they suspect the money is from the proceeds of crime, you won't get it back even if no-one comes to claim it?

[Leptons]

battered said:

I've a friend who works for W Mids police as...an accountant. No, she doesn't do their books. She's a forensic accountant and she detects money laundering. They catch more crims by following the money than they ever do by coppering.

By the same token, my folks spend a lot of time in southern Italy. The Cosa Nostra still very much exist but they are getting closed down, again by the anti money laundering rules. As more and more of us use plastic the ability to get through large amounts of cash is more and more limited. There are only so many family meals you can have.

Sounds like codswallop to me. It'd work for stolen notes but how do you explain it working for drug money. A load of random serial numbers getting spent in a load of random shops?

[romeogolf]

You can earn £7,500 tax-free renting out a room in your house. £625/month for a room is fairly normal in most parts of the South East.

It might take ten years, but I can't imagine it arousing too much suspicion.

+waits for someone to rip the idea apart +

[ex1]

romeogolf said:

You can earn £7,500 tax-free renting out a room in your house. £625/month for a room is fairly normal in most parts of the South East.

It might take ten years, but I can't imagine it arousing too much suspicion.

+waits for someone to rip the idea apart +

10 years? We're taking about £750k not £75k.

[OzzyR1]

ex1 said:

romeogolf said:

You can earn £7,500 tax-free renting out a room in your house. £625/month for a room is fairly normal in most parts of the South East.

It might take ten years, but I can't imagine it arousing too much suspicion.

+waits for someone to rip the idea apart +

10 years? We're taking about £750k not £75k.

That didn't take too long

[can't remember]

ex1 said:

romeogolf said:

You can earn £7,500 tax-free renting out a room in your house. £625/month for a room is fairly normal in most parts of the South East.

It might take ten years, but I can't imagine it arousing too much suspicion.

+waits for someone to rip the idea apart +

10 years? We're taking about £750k not £75k.

This is PistonHeads so he has probably got 10 spare rooms in his Mayfair mansion.

[elanfan]

Research the rules on Treasure Trove.

Tour jewellery shops coin dealers and the like buying up rare Roman gold coins for cash. 75 shops or multiple visits to a few spend £10k a time.

Buy a nice metal detector and find the stash on your own property (farmers field that you bought for cash).

Or there are loads of downsizers out there. I'd bet quite a few would would accept a much lower offer for their property through official lines with a substantial back handler in cash. The cash becomes their problem - they can't admit where it came from. You just get a property that was a bargain because you were in the right place at the right time.

[PAULJ5555]

I'm not a gambler and never go in a bookies but my mate said you can deposit say 10K as credit and gamble a little bit then the bookies can cash out your balance of say 9K transferred into your bank account and you can then prove where it came from, its also tax free.

I assume the bookies would keep a record of how much was deposited and how the money has built up in your account at the bookies, so there would be an audit trail?

[romeogolf]

ex1 said:

10 years? We're taking about £750k not £75k.

[PugwasHDJ80]

RTB said:

I'd set up a predominantly cash business (small shop, car wash, takeaway etc). Take out a mortgage on the business premises and then go about drip feeding the money through the business and paying off the mortgage (overpay but don't take the piss).

You'd have to make sure that the tax situation was water tight (hire a good accountant), and not be too greedy (fried chicken shops probably don't make £500,000 a year clear profit). And within a few years you should have some profit in your business account (tax paid) and a paid for business premises as assets. Cash in and ride off into the sunset.

This

Alternatively buy some very run down properties and use cash to pay the tradesman and all of the materials

[deckster]

Leptons said:

battered said:

I've a friend who works for W Mids police as...an accountant. No, she doesn't do their books. She's a forensic accountant and she detects money laundering. They catch more crims by following the money than they ever do by coppering.

By the same token, my folks spend a lot of time in southern Italy. The Cosa Nostra still very much exist but they are getting closed down, again by the anti money laundering rules. As more and more of us use plastic the ability to get through large amounts of cash is more and more limited. There are only so many family meals you can have.

Sounds like codswallop to me. It'd work for stolen notes but how do you explain it working for drug money. A load of random serial numbers getting spent in a load of random shops?

I don't imagine they physically follow each note. Something more like 'Joe C. Robber bought a new Jag the week after that bookies was done over, might be worth a look'. Only much, much more cleverer than that.

[dvs_dave]

Buy lots of high value secondhand items with the cash direct from the owners. Cars, watches, boats, etc. Trade multiple items in and buy one more expensive higher value item, plus some of the cash you have stashed. Rinse & repeat. Nice clean money by the time you've sold of your final item.

[hyphen]

battered said:

I've a friend who works for W Mids police as...an accountant. No, she doesn't do their books. She's a forensic accountant and she detects money laundering. They catch more crims by following the money than they ever do by coppering.

Tell your friend to be careful

[spaximus]

This is a great thread, I am picking up a lot of tips should I "Ahem" come across £750k that needs a good home to avoid being caught.

[jonamv8]

PAULJ5555 said:

I'm not a gambler and never go in a bookies but my mate said you can deposit say 10K as credit and gamble a little bit then the bookies can cash out your balance of say 9K transferred into your bank account and you can then prove where it came from, its also tax free.

I assume the bookies would keep a record of how much was deposited and how the money has built up in your account at the bookies, so there would be an audit trail?

Where did the original 10k come from though? If plod looked into it they'd want to see a large but none cash deposit, ie acoed for money and/or betting transactions to show you took £50 to £10k

[PAULJ5555]

jonamv8 said:

PAULJ5555 said:

I'm not a gambler and never go in a bookies but my mate said you can deposit say 10K as credit and gamble a little bit then the bookies can cash out your balance of say 9K transferred into your bank account and you can then prove where it came from, its also tax free.

I assume the bookies would keep a record of how much was deposited and how the money has built up in your account at the bookies, so there would be an audit trail?

Where did the original 10k come from though? If plod looked into it they'd want to see a large but none cash deposit, ie acoed for money and/or betting transactions to show you took £50 to £10k

Im not sure if they could trace the original 10k deposit or if the 9K taken out of the bookies can be traced back to winnings or is shown as the original deposit

[Robbo 27]

PAULJ5555 said:

Im not sure if they could trace the original 10k deposit or if the 9K taken out of the bookies can be traced back to winnings or is shown as the original deposit

I play pool at a club, seldom more than £10 a frame. Every now and again some wide boy comes in with £10k + cash and wants to play, he never gets a game. We know that if you won you would never get the cash home.

[-Pete-]

This is one of those things think about when I can't sleep. It's an interesting problem, I think the big issue is to turn notes into some other form of value.

I think you need to buy assets which can be purchased for cash, don't depreciate, and are easy to store. Personally I'd go to 2nd hand jewellers, watch shops, antique dealers & fairs, pawnshops, and spend £200 - £500 in each, no more. Visiting ten shops a week, it'd take a few years to build up a physically small stash of value. No internet transactions, no eBay.

Cash them in as and when you need them, the same way you bought them. Maybe in other countires, to make it harder to trace. You'll lose maybe 1/3rd of the money, but who cares?

A nice problem to have