How much different from a 'normal price' should a wink wink cash discount be?
Jim K
How much different from a 'normal price' should a wink wink cash discount be?
Jim K
Probably varies if it's no taxman wink-wink, or back of a lorry wink-wink ...
If by wink wink you mean the illegal lack of vat as its not on the books mate, then it would be the vat I'd suspect. Brian
Half the VAT I reckon - the trader is not doing it entirely for the customer's benefit :)
If anything, more than the VAT, since the trader is benefitting by the payment not going through the books by more than the VAT amount - no other tax is going to get paid on it...
Depends on what you are buying and from who...
Cash for a legit sale of a product from a retailer, rather than credit card? Couple of % saved in card fees.
25-40% or so I reckon - it's not just VAT if it's cash in hand, it's income tax and NI.
Unless its the business owner you are probably just buying stolen stuff.
Depends on what the seller thinks of the buyer. If he considers him an idiot, he may have inflated the asking price in the first case.
Bit like those furniture etc advertisers on TV who have permanent sales ending next week. Have it on sale for the 'full' price at one branch in the middle of nowhere for a short time to comply with the law.
So if it's just goods, compare prices elsewhere. If it's more for services difficult to calculate. Hence getting estimates first.
This sort of thing works best for services rather than goods - the latter involves a paper trail at some point.
Processing cash isn't free if it has to be paid into a bank rather than just being placed in to back pocket.
Just the VAT. That way you both win.
Unless they catch up with the VAT registered seller. As happened to a pal of mine.
This is also true - one of the reasons the supermarkets offer cashback on debit card transactions, it gets cash off the site for the small fixed fee of a debit card.
That depends on lots of things, like did heget the stuff on the wink wink as well.
I'd not touch such things as if there is a garantee its not worth the paper it won't be printed on. Brian
Even more so if claiming benifits. And for anyone to think it's worth the risk a 20% discount isn't normally enough.
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