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https://www.youtube.com/watch?v=YT8RXgFDbA4
I have a mate who’s doggedly cash-only, which is his prerogative, but would still ask me if I could order something on my Amazon account and then he’d give the cash, until I explained that I wasn’t his credit card provider.
I’m so bored I might as well be listening to Pink Floyd
I’m so bored I might as well be listening to Pink Floyd
But seriously as a business, paying cash into a business account costs me money - More than a debit card transaction would cost for the same sale
Local music shop, Barbers, Chippy, Chinese and Indian are all cash only where I live. I don't blame them, why lose 2.5% of every transaction when they don't need to. That's just throwing 2K away every year for 80K of turnover. (can be lower I know but can be higher).
Cash is great for gifts to family and friends, giving to homeless people, Charity boxes, buying food and drink at Victorious festival when the 4G goes down and all the card machines won't work. (every flipping year!)
It requires no internet connection, there's no surcharge for the vendor to pay, it's great for tipping.
As my business is all online market places my actual earnings are reported to the tax man automatically so it's no good for avoiding tax personally but I still like to have £500 or so around in cash for the reasons above.
Because straight away it's followed with a counter offer that's lower than my lowest.
@UnclePsychosis
I was VAT registered for 12 years and it was a right pain. Dealing company to company was fine as the VAT became irrelevant because we could all claim it back, but it meant we were (at the time) 17.5% more expensive than the non VAT registered companies as far as the end user was concerned.
I'm close to the threshold now but just deliberately limit sales to keep under and there's no law against that.
My reply to your prospective buyer's suggestion would be SEX AND TRAVEL.
He made a best offer on ebay, inclusive of the delivery price I'd set. Because I had immediate payment set for BIN, It whipped the money straight from buyers account.
I drove 40 minutes, met, handed over..nice enough guy, just trying to save a few ££ on a off the ebay books purchase.
Maybe I judged too harshly based on the coms, but best to be safe.