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do banks notify the tax office


Bruce29
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Hi my daughter had a letter from the bank saying they were going to close all her accounts as there is too much money going through the account. My daughter is worried as the bank have asked for copies of her ebay and paypal accounts so they can see where the money is coming from. My daughter is worried as she hasnt paid tax on any of the items she has sold on ebay and is concerned the bank will contact the inland revenue.

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The letter just said they were going to close all her accounts and wanted her to send back all her cards and cheque book wth no explanation why, So we went in the bank today and thats when they said it was because of the unusual activity on her account and the amount of money going in for a person of her age ?

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The letter just said they were going to close all her accounts and wanted her to send back all her cards and cheque book wth no explanation why, So we went in the bank today and thats when they said it was because of the unusual activity on her account and the amount of money going in for a person of her age ?

 

 

 

Money laundering suspicion?

:mad2::-x:jaw::sad:
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Thats a copout by the bank imo. My friend kid is 19 and runs his own business. He makes 3-4k a month salary and nothings been said.

 

For a bank to do anything it must have been a considerable amount of money in yyour case.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

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No doubt the 19 year old has a business account, but high value and frequent deposits on a standard current account will cause suspicions, money laundering being the foremost.

 

A formal complaint to the bank (which must be investigated and responded to within 56 days) is the next move.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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He has a business account, but regularly transfers money to his personal account brig. Always has a high amount of money going in and out of it. But i dont know the frequency of transactions per month.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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There would not I think be a problem here as he is obviously in business and is properly set up.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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