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Author Topic: I Had a letter from Lloyd's Bank , they want to know where my money coming from  (Read 7577 times)

amy

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Hi so I am a  sex worker and I am on viva and aw and I dont pay my taxes and I do get Public funds I wanted to know what's the safest bank account to deposit escort money if anyone who deposits money which bank do they recommend

Even leaving the tax evasion aside, if you plan to bank your earnings in cash and claim benefits don't you realise that the bank is going to notice this and flag it up to the benefits office people? Plus there's the AW credits thing which RB1 has posted about above.

You'll have to repay whatever you've fraudulently claimed, plus whatever penalty HMRC decides to hit you with once they get wind of it as well as the back tax you owe which they will estimate if you haven't been keeping proper records of your earnings and receipts for your expenses, and it's up to you to prove their estimation is wrong.

I realise you don't give a toss about other people (including those on minimum wage) having to subsidise you, but why would you do that to yourself?

ladyofthemansion

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My advice to you is to come off benefits right now and register with Inland revenue for damage limitation.
I'm glad I got all the Cynthia Payne books before the prices rocked to sky high.

Mirror

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My advice to you is to come off benefits right now and register with Inland revenue for damage limitation.

My advice too, after spending the last 12 hours wondering if the post is a joke or test.


RB1

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In fairness depending on what sort of sex work the OP offers she could have a illness/ health issues and would be able to still claim universal credit and work a bit

If she mainly did camming  / phone chat & online stuff  and the occasional escort job she would be able to get help via universal credit depending on what her health issues are

RB1

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Actually ignore the above 😂
OP said she had paid in 42k in the last year into her Lloyd’s account  that’s around 3500 a month so she wouldn’t be able to claim anything

I was thinking more along the lines of maybe  2-300 a week
 

Miss star

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Hi so I am a  sex worker and I am on viva and aw and I dont pay my taxes and I do get Public funds I wanted to know what's the safest bank account to deposit escort money if anyone who deposits money which bank do they recommend

So far Lloyd's and Halifax closed my accounts down without reason


As it’s been said here by others. Aw are sending our details to hmrc next year, Universal credit have put in place to catch out people working while claiming by banks and reviews.
But even before this Adultwork always had your ID and at any given time hmrc could have requested it.




amy

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I agree with the posts above, but I think the fact that the OP has been claiming benefits intended for those with not enough money to live on while banking over 40K in cash is a bit more immediate than this AW change that hasn't even started yet; she hasn't mentioned webcamming and for all we know she only takes bookings by phone/text and not the booking form.

I could name three banks I have accounts with, two of which have no limits on cash deposits (depending on how they're paid) and with whom I've never had problems. I'm not going to because a) I don't claim benefits and b) I have a regular depositing pattern and proper records of my income, and these will be a big part of the reason I've never had problems so this information will be zero use to the OP.

englishrebecca121

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Let me get this right .
The op called over £40k without paying tax and is claiming benifits

Wow !

Totally foolish and so morally wrong in actually angry

ana30

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Hi so I am a  sex worker and I am on viva and aw and I dont pay my taxes and I do get Public funds I wanted to know what's the safest bank account to deposit escort money if anyone who deposits money which bank do they recommend

So far Lloyd's and Halifax closed my accounts down without reason

Ethically issues aside I too pay a lot of cash into my non business account.... but my bank has my HMRC tax payer number, my business occupation with all the details as to where the money comes from, there's also a same patter of cash deposits etc... and obvs I don't claim any benefits (as I'm not entitled to them). It's been many years and never had any single issue. I can totally understand why the bank would raise all sorts of red flags with your account OP.
"Sex work is real work, being a landlord isn't" - Graffitti seen on a wall.

DBLM

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OP:
Someone may "get away" with earning some small amount of cash and not declaring it for tax - and when i say small I am thinking of like £1,000 or less in a year -- so its a hobby income!
But if you are living on benefits, then it isn't worth taking risks.

And if you are earning a substantial sum - that is enough to pay your bills, you have to register as self-employed, keep records.
There is no way to keep this income secret from the Inland Revenue over the long term.

Really - the easiest way to manage it is to speak to an accountant.

* End the benefits ASAP - if they are MEANS TESTED and you aren't really entitled to them.

* Contact the inland revenue and tell them you will be self-employed as --- some kind of therapist - or have the account ant do that for you.
* When you contact the Inland Revenue they will ask you to estimate what your income will be and when you are starting this business so think about your answers - although you should be honest and go back to whenever you started... perhaps you might decide to say you have just started it now- ty and get yourself straight going forward and hope no one looks into the past -- IDK if that will work but it is better than carry on hoping to get away with it - you could face prison.

I would suggest you underestimate your income because they ask you to pay Income Tax in advance, so that's a big tax bill straight away - eventually, the tax will even itself out.



« Last Edit: 13 May 2024, 09:15:44 am by DBLM »

ladyofthemansion

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Having read back on this thread to be fair the OP has not said what the public funds are.

If it’s Universal credit then yes it’s benefit fraud.

If it’s PIP then it’s not.
I'm glad I got all the Cynthia Payne books before the prices rocked to sky high.

Luvmylips

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You  say you get public funds so I’m assuming benefits / universal credit of some sort
Next year AW will be sending your details to HMRC along with any earnings you have cashed out from there in credits under a new EU Law for digital platforms

If you get Universal credit they are also doing reviews of millions of peoples bank accounts so if you get money into an account that you have benefits paid into then they will see this money

They want to know all bank accounts you have and will often check your credit file to see what accounts you have in your name


I posted about the HMRC reporting almost a year ago or more and was side eyed by a few others I believe.  What many civvies do not understand is that information is freely shared once it is electronic and what they tell you is not what actually happens.  THEY = AGENCIES

What that poster needs to do is get an accountant to sort out her finances and open a few accounts to spread out her income deposits.

LLoyds bank is a good bank and once you have a "legit" source of income, they will leave you alone and happily take your deposits.  Only problem is that they are closing so many branches it is hard to deposit cash.




SAAFE

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LLoyds bank is a good bank and once you have a "legit" source of income, they will leave you alone and happily take your deposits.

Maybe you should read the OPs posts? Or even just the thread title.

Luvmylips

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Maybe you should read the OPs posts? Or even just the thread title.

I did. I stated my opinion.  She doesn't have a "legit" source of income that is why they are "possibly" closing her account and asking to prove her income because she doesn't pass the smell test banks use to mitigate risk.  They've looked at her banking history - income and expenditure and "computer says no".

Banks are using a sophisticated new software nowadays that are a precursor to the universal currency that will be implemented.  OP (speculation of course) probably shows deposits but no expenditure with regards to taxes or other payments that would "regularise" her account.

Most workers have clearly stated that the banks have their employment details, or tax info or other proof of "legitimacy"  - OP's title stated the bank wants to know where her money is coming from,so obviously she doesn't have that info attached to her account.
« Last Edit: 13 May 2024, 07:16:49 pm by Luvmylips »

Luvmylips

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Maybe you should read the OPs posts? Or even just the thread title.

I did.

She doesn't pass the smell test - I stated "legit" source of income.  She obviously doesn't have that as they've asked "where does her cash come from". 

OP has tripped the computer's risk buttons at LLoyd's - either her banking patterns with regard to deposits or her expenditure.

Plenty workers who get cash in hand have zero problems with LLoyds and in over 15 years of depositing cash, never have I had any issues.