Last few days for cash for your scrap

[CES]

Morning everyone, just wanted to give your the facts for Mondays cash ban (don't shoot the messenger!). There is only one legal way you can now receive cash for your scrap, anybody that tells you otherwise or continues to pay you in cash is breaking the law. A very small proportion of itinerant traders can continue to pay cash, there are only a few of these around the country and they are itinerant traders with an S3(1) exemption. Most itinerant traders, like 99.9999% do not have this exemption - it requires a Police check. Any and all other rumours that you may hear are not true. Feel free to message me with any specific questions.

Good Morning & Welcome to the Forums
Can I ask a question?.
What are the specifics? I live in Scotland, have a waste carriers licences and use a local scrap dealer. If I went in next week with a load of copper/brass/steel what should I expect to have to provide in order to receive payment and what payment options are available?
Thanks

 

[CES]

Routine investigation pulled at random, then they went through everything! Scrap was one part of it, CP 12's another, carbons on pads which you have to keep, checked against invoices for ££££££, don't think you are bullet proof you are not!

Was this the Taxman or the VAT man Vern? In my experience the taxman has little teeth when you are armed with a good accountant. The VAT man is another beast though.

 

[alchemymetals]

Morning everyone, just wanted to give your the facts for Mondays cash ban (don't shoot the messenger!). There is only one legal way you can now receive cash for your scrap, anybody that tells you otherwise or continues to pay you in cash is breaking the law. A very small proportion of itinerant traders can continue to pay cash, there are only a few of these around the country and they are itinerant traders with an S3(1) exemption. Most itinerant traders, like 99.9999% do not have this exemption - it requires a Police check. Any and all other rumours that you may hear are not true. Feel free to message me with any specific questions.

This legislation only applies to England and Wales, not Scotland - they will be coming up with their own legislation.

 

[Heating-eng]

I"ll think you"ll struggle to find anyone who currently declares their scrap money

I have always declared mine and I think the new rule is a great idea.

 

[vern]

Was this the Taxman or the VAT man Vern? In my experience the taxman has little teeth when you are armed with a good accountant. The VAT man is another beast though.

Tax man to start with pal, then mysteriously the vat man got involved, he reckons it was a disgruntled custard who he did a ££££ for (very good price etc), then 1 week later rang him for a Vat receipt, lots more too it than that, but you get the idea.....he was worked over big time, but has you have correctly said Vat man is the bad boy!

 

[Plum Bob 66]

I have always declared mine and I think the new rule is a great idea.

Then you truly are a devout being.

 

[plumb_know]

cheers all for ruining my xmas, have been saving my scrap for 6 months to buy a wedding ring , now thieving tax man wants to tax me on material which was already taxed when sold, tax my income and now tax my scrap, but funny enough seems less bothered to sort out all the billions lost through major companies avoiding tax and politicians claiming force expenses. A lot of people rely on scrap and a bit of cash in hand to get by in these hard times.
Sorry rant over now

 

[REDSAW]

my take of the chancellor...

trying to shush us while he is screaming his bum off while he is getting shafted by the big people. always the same.

 

[theanalyst]

Tax investigation insurance is only good if your innocent.
Basically, they have multiple disclaimers saying 'if your fiddling it and get caught, your on your own and we aren't paying a bean'... I know because I recently looked into it (and no, I don't do cash jobs at all. Invoices even given to family members as I'm paranoid!)
I haven't taken it out as I'm not VAT registered yet but I will be imminently and will take it out then as a precaution. As someone said, the taxman is quite mild compared to the VAT man, from what I've head anyway!

 

[tamz]

cheers all for ruining my xmas, have been saving my scrap for 6 months to buy a wedding ring

They may have done you a big favour :wink:

 

[vern]

Use one of those chunky brass olives, saves a mint:biggrin5:

 

[plumb_know]

haha yeah vern, more for the stag night , so what should i be expecting when i next go to the scrappy, i work for a company so only have personal accounts and i do not have waste carriers license and live in kent? so what will they ask to see and how would i get paid?? also just wondering if anyone has actually been to scrappy since these laws have been introduced, are they actually being implemented?
cheers

 

[erpkid]

haha yeah vern, more for the stag night , so what should i be expecting when i next go to the scrappy, i work for a company so only have personal accounts and i do not have waste carriers license and live in kent? so what will they ask to see and how would i get paid?? also just wondering if anyone has actually been to scrappy since these laws have been introduced, are they actually being implemented?
cheers

Yes here in Suffolk it is cheque only now - one cylinder and a bit of pipe as a tester - no worry about the carrier license once you land. Payee of your choice.

 

[erpkid]

Tax investigation insurance is only good if your innocent.
Basically, they have multiple disclaimers saying 'if your fiddling it and get caught, your on your own and we aren't paying a bean'... I know because I recently looked into it (and no, I don't do cash jobs at all. Invoices even given to family members as I'm paranoid!)
I haven't taken it out as I'm not VAT registered yet but I will be imminently and will take it out then as a precaution. As someone said, the taxman is quite mild compared to the VAT man, from what I've head anyway!

Tax man and vat man are now combined into a team for us small peeps.....they are still feeling their way though as after our first inspection I still had most of my internal organs and the dangly bits not too squeezed....this time.....

 

[plumb_know]

cheers erpkid, sorry if this is a bit dumb but what is the difference then apart from having to wait for a check to clear?? if you cash the cheque does it automatically get taxed or something?