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Thread: Cash payments

  1. #1
    Guest

    Default Cash payments

    Don't fret and worry about taking cold hard cash to the builders what could be easier than paying for something with cash! The morning we signed i went to the bank withdrew 30.000 euros(sounds a lot, well it is a lot but it wasn't the great big bundle i expected) slipped it in my pocket went to the builders slapped it out on the desk, the money that is, they counted it with an electronic counter gave me a receipt went to the notary handed over the cheque signed the contract job done. The funny thing was they asked for the receipt and tore it up along with their copy no evidence no problem! Don't worry about when it comes to sell you just do the same, some people just want to complicate things and get worried about paying extra tax when they sell. life's to short to worry about buying and selling, enjoy your home wether it be residence or holiday just do it, it's one of the best things i've ever done. well what ya waiting GO ON!

  2. #2
    Join Date
    Dec 2004
    Location
    Burton on Trent, Staffs
    Posts
    73

    Default

    Each to their own and far be it from me to tell people what they should and shouldnt do. However, some of us dont want to wander the streets with thousands of euros. Some of us would rather pay the extra couple of thousand in taxes and not have to worry about paying tens of thousands in Capital Gains. Some of us worry what our kids will pay in inheretance taxes when we fall off our mortal coils. Some of us wonder if the system will change and when we come to sell we cant under declare. Some of us think that the tax that is lost by under declaring could be spent on better resorces such as more policing, schools etc etc, making the whole area safer and better for all. Some of us have chosen not to pay the cash and have had a fight on our hands to acheive this, and some of us are damn pleased we have.

  3. #3
    Join Date
    Dec 2004
    Posts
    62

    Default

    Jacpops, good on yer!!

    Cin

  4. #4
    Join Date
    Jan 2005
    Posts
    3

    Default

    Jacpops - I am in the process of buying a new build property and expecting to complete soon. The builder is trying to insist that I pay part of the outstanding amount in black money which I don't want to do. Did your solicitor back you in your bid to get the full price put on the deeds? My solicitor has hinted that it may be easier to go along with it and pay the cash. Did it involve a big increase in his fees etc Was it a long drawn out process or did the builder back down straightaway? Does a builder actually have a leg to stand on as there is nothing in the contract that I have signed to say that any black money is involved? Is it just a case of the builders expecting that the buyers just go along with it without question? Any info would be greatly appreciated.

  5. #5
    Join Date
    Jan 2005
    Posts
    3

    Default

    Jacpops - I am in the process of buying a new build property and expecting to complete soon. The builder is trying to insist that I pay part of the outstanding amount in black money which I don't want to do. Did your solicitor back you in your bid to get the full price put on the deeds? My solicitor has hinted that it may be easier to go along with it and pay the cash. Did it involve a big increase in his fees etc Was it a long drawn out process or did the builder back down straightaway? Does a builder actually have a leg to stand on as there is nothing in the contract that I have signed to say that any black money is involved? Is it just a case of the builders expecting that the buyers just go along with it without question? Any info would be greatly appreciated.

  6. #6
    Join Date
    Dec 2004
    Location
    Playa Flamenca
    Posts
    242

    Default

    I think you certainly have the right to stand firm.

  7. #7
    Guest

    Default

    What a can of worms i've opened up here!
    Just remember we pay capital gains tax in the uk, we also pay inheritance tax but in the uk we buy property a different way to spain. it is pure speculation that tens of thousands will be paid in tax what if the bottom falls out of the property market, their are hundreds of different senario's so on and so forth. Yes we worry about our children it's only natural. but i'm living my live and they will live their's, i'm sure they will treasure lot's of happy memory's from our time in spain and so long has we've got our health money issue's take a back seat. Our fiscal gave us excellent advice on buying and selling a property and we know how we exactly how we stand . All different nationalities buy property in the uk they don't try to alter the process, you could argue that their's nothing wrong with our system and your probably right but the only way the black money system will change is by the british people forcing change, the spanish have there way and they are happy with it. I have done nothing wrong like many thousands of people before me. remember when in rome(or spain) do as the romans do!!

  8. #8
    Guest

    Default When in Rome........

    Good advice. So now we are going to only watch Spanish TV, speak Spanish, drink Spanish beer, eat Spanish food..........?

  9. #9
    Join Date
    Dec 2004
    Posts
    62

    Default

    Alfombra Man.
    Surely it is a question of what's right or wrong, not just the "Spanish" way? Because I want to declare the full amount and the builder wants a "bung" I'm made to feel I'm stepping out of line.
    The builder makes a huge profit out of these new builds, I'm being taken for a mug and so are a lot of people and that surely can't be right?

  10. #10
    Join Date
    Dec 2004
    Posts
    71

    Default cash payment

    If I had been asked to do this in England alarm bells would have rung ,but it is the done thing down the coast of Spain.
    It worked for me and my Spanish bank account is a lot fatter.Don,t forget the resale values are inflated towards fixtures and fittings ,we can,t have it both ways.

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