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Travelling To UK With Cash To Buy Car

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2

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    #32
    JVince
    Registered Users Posts: 765 ✭✭✭JVince


    https://www.boards.ie/discussion/comment/121798748#Comment_121798748

    If you think it's just vrt, then you are in for a very big surprise.

    Vrt may end up being the smaller of the tax amounts you will be paying over



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    #33
    kdevitt
    Registered Users Posts: 2,256 ✭✭✭kdevitt


    For VAT and duty, the revenue commissioners will want evidence of the transfer made to pay for the car - as well as the receipt from the seller. Use currencyfair, transfermate or revolut and you'll be fine. Revolut would be my recommendation after my last UK car purchase.

    Faster Payments banks generally clear cash more or less instantly when its a UK to UK transfer, but in my case a transfer sat in a sundry account with the sellers bank for a full day - I ended up waiting 2 hours at his house hoping for the for the transfer to clear, and he was not overly happy at me driving away before that had happened.



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    #34
    User1998
    Registered Users Posts: 5,861 ✭✭✭User1998


    https://www.boards.ie/discussion/comment/121800266#Comment_121800266

    Revenue don’t look for proof of payment or sales receipts for payment of VAT of UK cars.

    +1 for Revolut tho



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    #35
    kdevitt
    Registered Users Posts: 2,256 ✭✭✭kdevitt


    https://www.boards.ie/discussion/comment/121800310#Comment_121800310

    Yes, they do - I've recently done it



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    #36
    User1998
    Registered Users Posts: 5,861 ✭✭✭User1998


    https://www.boards.ie/discussion/comment/121801198#Comment_121801198

    I’ve done it like 20 times and the customs declaration is done in 5 minutes with no checks so I think your customs broker was just being pedantic



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    #37
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    https://www.boards.ie/discussion/2058337175/travelling-to-uk-with-cash-to-buy-car

    First off, you can't bring that much cash without Revenue clearance.

    Secondly I don't like the idea of someone knowing I'm about to arrive with that much cash on me either.

    Thirdly, if it's a business, then many of them don't like/won't take that much cash off you either.

    Wire transfer - even if it took 24 hours - a room on Travelodge or Premier Inn would be, what, £100 ? Worth it imho.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #38
    pah
    Registered Users Posts: 3,389 ✭✭✭pah


    If you're 99% sure about the car based on your mechanic friend checking it out and he has all the owners details and it's all 100% legit you could pay half the funds in an electronic manner, in one of the ways described above. The seller will know you're legit and that it's an almost instant transfer. Pay the other half once you shake hands and drive away.



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    #39
    3DataModem
    Registered Users Posts: 3,948 ✭✭✭3DataModem


    https://www.boards.ie/discussion/2058337175/travelling-to-uk-with-cash-to-buy-car

    If you have a revolut account, sending from Sterling balance to UK bank is instant.



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    #40
    kenn0
    Registered Users Posts: 241 ✭✭kenn0


    What car are you buying??

    go for it 🚗



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    #41
    Luna84
    Registered Users Posts: 441 ✭✭Luna84


    https://www.boards.ie/discussion/comment/121807999#Comment_121807999

    Did you even read the thread. It's about travelling to UK with a large amount of cash. For one the money could be taking off him boarding the plane next travelling throughout UK with a large amount of cash isn't a good idea and three he doesn't know this guy and could have people waiting as they know he will be carrying money.(nothing like that could happen but unfortunately things like that can happen sometimes)



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    #42
    kenn0
    Registered Users Posts: 241 ✭✭kenn0


    https://www.boards.ie/discussion/comment/121808502#Comment_121808502

    I did read it. It’s about buying a car in the UK.


    What is the car

    IMG_0277.jpeg




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    #43
    Marcusm
    Registered Users Posts: 10,195 ✭✭✭✭Marcusm


    https://www.boards.ie/discussion/comment/121798748#Comment_121798748

    Have you asked the purchaser? It would have to be a very odd UK vendor who would accept £34k in cash. Bank transfers and/or debit card payments would be the norm going back 20 years in the U.K.



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    #44
    Luna84
    Registered Users Posts: 441 ✭✭Luna84


    https://www.boards.ie/discussion/comment/121807999#Comment_121807999
    https://www.boards.ie/discussion/comment/121808882#Comment_121808882

    Sorry I misread your post somehow. He can go for it alright and buy the car but I wouldn't travel over with cash.



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    #45
    beachhead
    Registered Users Posts: 2,294 ✭✭✭beachhead


    https://www.boards.ie/discussion/comment/121798988#Comment_121798988

    Paypal invent their own exchange rate always



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    #46
    beachhead
    Registered Users Posts: 2,294 ✭✭✭beachhead


    https://www.boards.ie/discussion/comment/121799233#Comment_121799233

    Posts on boards before about Revolut locking accounts.



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    #47
    Spook_ie
    Registered Users Posts: 10,896 ✭✭✭✭Spook_ie


    https://www.boards.ie/discussion/2058337175/travelling-to-uk-with-cash-to-buy-car

    If you're worried about the seller disappearing when the funds land, why are you ( don't appear to be worried ) taking them cash, surely there is more risk of them disappearing with the cash and car anyway?



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    #48
    User1998
    Registered Users Posts: 5,861 ✭✭✭User1998


    https://www.boards.ie/discussion/comment/121811147#Comment_121811147

    What?.. when you buy a car with cash you give them the cash and drive away in the car. When you buy a car via transfer you have to wait for the money to reach their account. So for a short period of time the seller has your car and your money



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    #49
    Spook_ie
    Registered Users Posts: 10,896 ✭✭✭✭Spook_ie


    Well I'll just let you peruse this and then think again about meeting someone with 34K cash, yeah only one example but I'd still be very very wary


    https://www.irishexaminer.com/news/arid-30957253.html



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    #50
    Ubbquittious
    Registered Users Posts: 6,181 ✭✭✭Ubbquittious


    https://www.boards.ie/discussion/comment/121799008#Comment_121799008

    Wow we really are living in a dystopian sci fi world. Having to justify a 350e spend to some megacorp


    Yet people still think phasing out cash is a good idea..



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    #51
    djan
    Registered Users Posts: 1,739 ✭✭✭djan


    https://www.boards.ie/discussion/comment/121811836#Comment_121811836

    Said megacorps aren't fans of this either as it's a substantial cost of doing business. Blame the governments and EU legislation.

    I'd still reccomend loading up revolut well in advance so if there are any issues you can resolve them before going over. The transfer will then be next day at the very latest.



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    #52
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/121811836#Comment_121811836

    Not just justify it but prove the source of funds!! 🤣

    as if me or your man were laundering Mickey Mouse money through adverts.ie and revolut.



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    #53
    BoardsBottler
    Registered Users Posts: 1,063 ✭✭✭BoardsBottler


    i don't believe you are allowed to physically carry that amount of cash through an airport. i don't know the exact as it's been quite a while since i last checked, but last time i checked under the money laundering act i recall the declare threshold required limit when you need to declare it being something like 2000 or 3000. (you are allowed to bring more than this, you just need to declare it one it reaches that amount and over). Then if it's 10,000 its considered suspicious activity and they have the right to seize it from you unless they deem its being used for legitmate purposes and that you acquired the money through legitmate means. Otherwise they accuse you of all sorts of wacky stuff like funding terrorism or bringing over drug money or using the money to do something illegal. They're jobsworths. there's a tv show on youtube that might be of interest to you calling something along the lines of uk boarder force, or boarder patrol.

    i don't reccomend bringing in that much money. But if you still decide to, then i strongly reccomend you bringing tangible proof where you got the money from, a bank receipt or pay slip too, and if you exchanged it into uk money then also the receipt they give you at the currency exchange. Also Some sort of proof of the transaction/deal that you intend to make in england to purchase the car. Maybe even bookmark a link to it or have screenshots of the convo on your phone.

    i might be over thinking this, but i'd hate to see someone get their money taking off them for some lame bs reason when they only desire to go to another country to purchase a car. Best of luck with whatever you decide to do. Also look up both sides the irish airport policies and the uk airport ruling on the amount of monies allowed to be brought in/out of the country. both may have different value since they use different currencies. 10k uk pound isnt the same as 10k euro.

    They just want the quick easy money cash grab recyclables and to up their recycling stats at your expense.



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    #54
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/121813819#Comment_121813819

    The max is €10,000 or equivalent in other currencies or you will need to declare.



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    #55
    BoardsBottler
    Registered Users Posts: 1,063 ✭✭✭BoardsBottler


    https://www.boards.ie/discussion/comment/121813962#Comment_121813962

    yes that is true! but also i mean in the other country too. While ireland or europe might be 10k in euro, the "other countries currency equivalent to 10k has to equal no more than 10k value in euro", i also mean the other countries airport policy.

    example lets say in ireland the most your allowed is 10k in euro. or other currency that equals to the value of 10k when priced in euro. there's also the other country uk, if their limit is 10k in pound, then that means coming back over the boarder with 10k in uk pound would not be allowed into ireland, as 10k uk money would exceed 10k euro money.

    might sound confusing but what im trying to say in a nutshell is both airports (ireland, AND england) each have their own policy, laws, and legal limits surrounding how much is allowed. a limit in one country may not be the same in another, for better or for worse. Thats why looking into both countries limits is a necessity for anyone that wishes to bring big cash over with them in person.

    They just want the quick easy money cash grab recyclables and to up their recycling stats at your expense.



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    #56
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/121814118#Comment_121814118

    It’s not a question of allowed or not and we are talking about actual sums well in excess of €10k or £10k so your hypothetical is irrelevant to this discussion.

    The OP will need to declare the cash to Irish customs and probably UK as well. Presumably he plans to return sans cash but with car so he will not need to make such declarations upon his return.



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    #57
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    In any case OP I still suggest your best option is your friend acting as an intermediary and making the transfer for you to the seller.

    UK to UK bank transfers are instant.

    edit; also it is vital you add the seller as a PAYEE to your internet banking a few days ahead as the bank may have a limit on new payees. I know my bank for the first 48 hours after adding a PAYEE you can only send them €10,000 max.



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    #58
    BoardsBottler
    Registered Users Posts: 1,063 ✭✭✭BoardsBottler


    https://www.boards.ie/discussion/comment/121814134#Comment_121814134

    Yes that is my point, he may will need to declare the amount in both airports. i just wanted to make that clear and for him/her to be aware of that.

    The sale may go wrong and he may have to return back with the cash, but regardless of that he'll still need to bring proof of how he acquired these funds, and where they came from. And also having proof of his intention to purchase a car won't hurt either.

    They just want the quick easy money cash grab recyclables and to up their recycling stats at your expense.



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    #59
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    https://www.boards.ie/discussion/comment/121814156#Comment_121814156

    to be honest I think if you visit the UK to meet a stranger with £34k in your pocket you have bigger concerns than customs!



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    #60
    BoardsBottler
    Registered Users Posts: 1,063 ✭✭✭BoardsBottler


    https://www.boards.ie/discussion/comment/121814170#Comment_121814170

    possibly, but it does'nt have to be a stranger. but there's also the anti-card side to this. and privacy reasons, also some conspiracy theorists don't like big brother knowing what they're spending their money on or something. or prefer to do cash based transactions. But then there's also a reason these laws exist in the first place.

    its also a massive risk bringing that much over. in terms of losing it or being jumped. Anything could happen. bank transfer or doing it in some way with out physically bringing the money over feels more secure. A friend of a family member decided it was easier to just bring the cash over as they didnt want any of the hassle that came with using banks, as they tried that way and got stuck over there for an extra 2 days than was intended.

    i think its best i stop talking at this point, as op has already got their answer from you. i feel theres nothing else i need to add to any of this, other than wishing the OP the very best of luck in whatever he decides to do.

    They just want the quick easy money cash grab recyclables and to up their recycling stats at your expense.



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    #61
    ian123
    Registered Users Posts: 21 ✭ian123


    question on the use of Revolut to pay GBP to NI car dealer - should one setup the account with EUR payment or GBP payment ?

    The difference is that using an account with EUR currency asks for an IBAN, while an account with GBP currency simply asks for the NI account and branch number.. no mention of IBAN

    Will the transfer be "immediate" regardless of the currency/account setup? does a SEPA transfer only work with IBAN (compared to a NI account/sortcode)?

    thanks



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