Last few days for cash for your scrap

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Last few days for cash for your scrap

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erpkid

Have just finished loading the van for the last cash run to our scrappie. As of the 3rd of December it will be cheque or transfer apparently. This was one of the last few perks we had so well done the government on introducing a law that will not discourage the toe rags who desecrate war memorials but make all of our lives just a bit more transparent.....also the missus will see how much scrap actually makes :sad:.............rant over

BTW also guessing the scrappie will be pretty mean with his prices
 
alchemymetals said:
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.
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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
 
vern said:
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!
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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 said:
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.
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This legislation only applies to England and Wales, not Scotland - they will be coming up with their own legislation.
 
CES said:
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.
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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!
 
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 :)
 
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.
 
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!
 
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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
 
plumb_know said:
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
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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.
 
theanalyst said:
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!
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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.....
 
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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?
 
plumb_know said:
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?
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No difference really apart from the new transparency to your income. I would not put it past them to see your scrap income for the current year and then back track. We work under a limited company umbrella but all the sole trader plumbers around here have had amnesty letter from the revenue reference cash payments in general. I predict something similar so watch this space
 
erpkid - was it an inspection or investigation? random or not?
Not as painful as you were expecting by the sound of it?!
 
Went to my local scrappie today, I have been going to the place for 20 years seen there kids grow up in the yard etc. they can't pay cash, no way, I wept, can the honest tradesmen have no perks!!?? Oh well, must get my company registered in the Kayman islands I' m pretty sure that would save me some money!!!!
 
theanalyst said:
erpkid - was it an inspection or investigation? random or not?
Not as painful as you were expecting by the sound of it?!
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Inspection as we had just gone vat registered. As we have been investing quite a lot in the business we had a lot of assets still in use from the last four years. This meant they had to pay us a fair amount. It went OK as with anything you tend to over worry. We had receipts for everything and it turned out it was a box ticking exercise It took all day though and for a small business this was quite onerous.
 
Does a cheque have to be written out to a bona-fida business with I.D?

I'm going to ours in Falkirk and have a good load of brass taps and copper pipe, would just send a mate in with it and get the cheque in his name if no I.D or company name was needed.
 
system3 said:
Does a cheque have to be written out to a bona-fida business with I.D?

I'm going to ours in Falkirk and have a good load of brass taps and copper pipe, would just send a mate in with it and get the cheque in his name if no I.D or company name was needed.
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our scrappie wants I D and utility bill
 
[MENTION=35779]dancinplumba[/MENTION] That's one perk we'll all miss then. Reckon I'm taking about 500 quid worth in the morn as well. The van is going to be packed solid.
 
Filled form in today at my scrapyard they take copy of driving licence you then take scrap in any time can be paid there and then by cheque or BACS I opted for payment once a month so less paperwork
 
Where are all the iron drain covers going to Be scraped now someone had lifted Aboat 40 near me last year replaced with traffic cones for two weeks had a few jobs this year external gas pipes removed as am sure this happens elsewhere i don't think this kind of thing will stop I assume the main Reason was scrap is a mainly cash business with very little paid in tax
As when you take your scrap metal
In its thrown in a big pile so can not see how the metal is traceable
 
LASPO offence
under section 146 of the Legal Aid, Sentencing and Punishment of Offenders Act 2012.
 
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