You find a suitcase with £1 million in it. What would you do
Discussion
Its a real problem. You cant buy cars, houses etc in cash these days due to money laundering regs. So you need to put it in the bank first. And they will ask where it came from..
..or they will notice some unusual activity on the account and be flagged as potential fraud.
Then ere are the neighbours who notice the new car, work colleagues on similar wages to you, family wondering whats going on...
In short, you could be stuffed. I reckon you could live a cash lifestyle on about 100k. Any more and you'd need to have evidence of where it came from. So take 100k, hand in the rest anonymously, keep under the radar and enjoy your good luck. Else you might lose it all and go yo gaol.
..or they will notice some unusual activity on the account and be flagged as potential fraud.
Then ere are the neighbours who notice the new car, work colleagues on similar wages to you, family wondering whats going on...
In short, you could be stuffed. I reckon you could live a cash lifestyle on about 100k. Any more and you'd need to have evidence of where it came from. So take 100k, hand in the rest anonymously, keep under the radar and enjoy your good luck. Else you might lose it all and go yo gaol.
Spend cash, save salary.
I used to receive large cash tips, and pay them into a UK bank. Up to around 5000GBP they weren't too concerned. Much more and I had to fill in a declaration regarding the source of the cash. Tip/gratuity was acceptable, so I suppose that would be a quicker way to get it in your account.
I used to receive large cash tips, and pay them into a UK bank. Up to around 5000GBP they weren't too concerned. Much more and I had to fill in a declaration regarding the source of the cash. Tip/gratuity was acceptable, so I suppose that would be a quicker way to get it in your account.
HMRC, as always, will be the problem here. All of the above suggestions are valid, but if you were ever investigated, you would be screwed, how do you maintain this lifestyle mr bloggs? your entire monthly pay cheque goes into this savings account and you are driving around in nice (but not lavish) cars, have jewellery, nice clothes and several sunny stamps in your passport/year. it would get awkward very quickly.
Illicit cash money would be a curse, other than literally wasting it (jewellery, entertaining, drinking, eating out every night (table booked under a pseudonym etc..)) and maybe the odd tradesman paid cash. You can't do anything concrete, productive or useful with it.
I'd still take it - and use it as described above, i'd consider it my 'pocket money' forever.
PS: Assuming i couldn't find a bent developer/solicitor in spain or somewhere similar, in which case i'd get some BTLs in a sunny place and accrue the rental in a foreign bank to be used upon my retirement. That way, HMRC wouldn't have a fingerprint on it (obviously, i'd still have a sensible amount of pocket money to fritter on life's untraceable luxuries)
Illicit cash money would be a curse, other than literally wasting it (jewellery, entertaining, drinking, eating out every night (table booked under a pseudonym etc..)) and maybe the odd tradesman paid cash. You can't do anything concrete, productive or useful with it.
I'd still take it - and use it as described above, i'd consider it my 'pocket money' forever.
PS: Assuming i couldn't find a bent developer/solicitor in spain or somewhere similar, in which case i'd get some BTLs in a sunny place and accrue the rental in a foreign bank to be used upon my retirement. That way, HMRC wouldn't have a fingerprint on it (obviously, i'd still have a sensible amount of pocket money to fritter on life's untraceable luxuries)
Muzzer79 said:
robinessex said:
Ok, fun question! You find a suitcase with a million quid in it. No possible way anyone could know you've got it. What would you do? And before you ask, no I bloody well haven't found one!
Herein lies the key.All those worrying about the mob or generally looking over your shoulder - there's no way anyone could know you have it?!
Ergo, hide it somewhere (safety deposit box, etc) and cream off relatively small amounts regularly that will not arouse suspicion.
It's the long game, but you'd have to give it a go.
williamp said:
Its a real problem. You cant buy cars, houses etc in cash these days due to money laundering regs. So you need to put it in the bank first. And they will ask where it came from..
..or they will notice some unusual activity on the account and be flagged as potential fraud.
Then ere are the neighbours who notice the new car, work colleagues on similar wages to you, family wondering whats going on...
In short, you could be stuffed. I reckon you could live a cash lifestyle on about 100k. Any more and you'd need to have evidence of where it came from. So take 100k, hand in the rest anonymously, keep under the radar and enjoy your good luck. Else you might lose it all and go yo gaol.
Work colleagues? I wouldn't have any if I had a million squid!!..or they will notice some unusual activity on the account and be flagged as potential fraud.
Then ere are the neighbours who notice the new car, work colleagues on similar wages to you, family wondering whats going on...
In short, you could be stuffed. I reckon you could live a cash lifestyle on about 100k. Any more and you'd need to have evidence of where it came from. So take 100k, hand in the rest anonymously, keep under the radar and enjoy your good luck. Else you might lose it all and go yo gaol.
MaxFromage said:
I can think of plenty of ways of laundering it. One example:
Matched betting- local bookies and some 'friends' vs multiple online accounts. The money over time becomes electronic funds and in the meantime is laundered. Lots of ways to move it to you if you don't mind giving a fair chunk away to the helpers...
My choice would be the local police station and see what happens from there...
Does yours launder money then?Matched betting- local bookies and some 'friends' vs multiple online accounts. The money over time becomes electronic funds and in the meantime is laundered. Lots of ways to move it to you if you don't mind giving a fair chunk away to the helpers...
My choice would be the local police station and see what happens from there...
Greg_D said:
I'd still take it - and use it as described above, i'd consider it my 'pocket money' forever.
Right up until they change bank notes. You have to give yourself a specific time frame to get it converted. Buying goods for cash and giving no identity to the vendor would be the only safe method. I think buying gold and physically moving it to another country would be one way. How about driving a solid gold Rolls Royce to Switzerland. Now where did I see that before 
I would imagine its very difficult to buy anything theses days for anything more than a few £k in cash. You certainly couldnt put any of it the bank either. The last time i bought a car cash i went to the sellers bank with him to deposit the money (£12k) and they wouldnt accept it untill they had contacted my bank to confirm i had recently withdrawn the money.
1 million pounds in pound notes would be pretty much useless to most people apart from taking a few quid here and there to pay for your shopping at asda or filling your car up with petrol etc.....which you would probably be able go do for the rest of your life.
1 million pounds in pound notes would be pretty much useless to most people apart from taking a few quid here and there to pay for your shopping at asda or filling your car up with petrol etc.....which you would probably be able go do for the rest of your life.
The gubberment has made it incrdibly difficult to deal with any amounts of cash at all.
Mandatory reporting of cash transactions all over the place. Any kind of suspicion or large payment in cash (for example at a car dealership) will be reported to the police - failure to do so is a serious offence personally for the individual concerned.
You'd have to keep the money somewhere for a while, and then use it bit by bit in chunks of a grand or so buying assets like sovereigns or something, which are small enough not to arouse suspicion, but which will result in an asset.
I think you;'d have to supplement your existing lifestyle a bit each month, rather than splurge it.
I would imagine that you could probably go to Birmingham, and buy gold at some "second division" places with cash, but you'd take a big haircut on the amount you got.
Mandatory reporting of cash transactions all over the place. Any kind of suspicion or large payment in cash (for example at a car dealership) will be reported to the police - failure to do so is a serious offence personally for the individual concerned.
You'd have to keep the money somewhere for a while, and then use it bit by bit in chunks of a grand or so buying assets like sovereigns or something, which are small enough not to arouse suspicion, but which will result in an asset.
I think you;'d have to supplement your existing lifestyle a bit each month, rather than splurge it.
I would imagine that you could probably go to Birmingham, and buy gold at some "second division" places with cash, but you'd take a big haircut on the amount you got.
Edited by RSoovy4 on Thursday 31st October 16:13
k-ink said:
Nedzilla said:
...taking a few quid here and there to pay for your shopping at asda or filling your car up with petrol etc.....which you would probably be able go do for the rest of your life.
Nope. The bank notes get changed regularly.Like i said,to the majority of regular folk,£1million in cash is useless.
I know nothing...
But,could you put it in a secret Swiss Bank Account.??
I would be afraid that they would change the notes and render them non tender.
Cheap to start up service business,i.e garage, does well at £100 per hour, open second business out of good profits, multiple businesses,laundering cash and making even more cash, win win
Gambling?,
But,could you put it in a secret Swiss Bank Account.??
I would be afraid that they would change the notes and render them non tender.
Cheap to start up service business,i.e garage, does well at £100 per hour, open second business out of good profits, multiple businesses,laundering cash and making even more cash, win win
Gambling?,
You can drop a lot of cash on things abroad, I reckon, so I'd be doing that. Restaurants, bars, clubs etc are all places you could have a lot of fun spending cash and nobody would notice, plus I'd be paying for all the small things in cash too. Spend the salary on flights, the cash on everything whilst I'm away.
boobles said:
DannyScene said:
Buy a house 200K ish
Buy a RenaultSport Clio 200 in white, alien green or liquid yellow with all the packs etc for weekends
Buy a 335D in white with red leather, probably Msport pack as well for during the week and of course remap it
Buy a little apartment or similar in amsterdam
Continue to live as I am now just with cars and my own houses and half a mil in the bank, would be rather nice at 23
But isn't this the way most typical PHers live anyway? Buy a RenaultSport Clio 200 in white, alien green or liquid yellow with all the packs etc for weekends
Buy a 335D in white with red leather, probably Msport pack as well for during the week and of course remap it
Buy a little apartment or similar in amsterdam
Continue to live as I am now just with cars and my own houses and half a mil in the bank, would be rather nice at 23
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