This thing about WGs not paying tax

[cunnyhunt]

If I were a prostitute I would go and rent a safe deposit box and store it in there. And use it as a makeshift bank until I decide I am going to retire and then work in an industry I can seem accumulate it back - e.g hairdresser. Then deposit into a real bank claiming if anyone asks its all from cutting a lot of hair.

Bank notes are changed and withdrawn, you would not be able to accumulate a large amount of notes over a long period of time without having to change them for newer notes.
How would you deal with that problem ?

[Jimmyredcab]

If I were a prostitute I would go and rent a safe deposit box and store it in there.

Well at least it can't be traced by HMRC.

The only drawback is that if it is left there for too long it will devalue, £40K this year will only be worth £38K next year due to inflation. 

[adindas]

All very wonderful but you have not answered my question.     

A prostitute is earning £1000 a week, in the first year she could have saved £40K --------------- what does she do with it, she can't bank it because HMRC could trace it.   

Well, it might be few of them but not many will be saving £40,000 a year.
If they charge, say £1000 an hour it does not mean they will get many customers as the demand for  these types of prossies are not that great. She might be earning more or less the same with other prossies charging in average of £100 (say).

The fact that money WGs left penniless when pass away tells the whole story.

There might be some exceptions. E.g successful  Courtesans, pimps, Madames. But these people are exceptions rather than a norm of ordinary WGs. These types of people in the prossie industry could hire a professional accountant that could help them to hide their wealth with minimum depreciation.

[Oldstager]

It`s surprising how quickly a girl can make a very large hole in £40,000 if she has 3 or 4 holidays in The Seychelles or The Bahamas and a trip to USA or Australia every year, and then, of course a girl needs lots of new clothes and beauty treatments, and a bit of pocket money for her boyfriend/partner, and by the end of the financial year she`s almost on the breadline again and hasn`t even enough left to top up her ISA.  How can she possibly be expected to afford to pay Income Tax and NI contributions on top of all that?

[AnthG]

Bank notes are changed and withdrawn, you would not be able to accumulate a large amount of notes over a long period of time without having to change them for newer notes.
How would you deal with that problem ?

There is normally quite some lag time from the announcement that certain notes are going out of legal tender to be replaced by a newer version. Usually we are talking at least a year.

I would if it were me just sensibly upgrade in small increments.

Just go in to your safe deposit box, take out £500 or even £1000 and call into a local bank branch and say can I change this £500 in £20's over to £500 in £10s please. Then, go into another bank branch and say can I change this £500 in £10s over to £500 in £20s and this would then be the new notes.

[Jimmyredcab]

Bank notes are changed and withdrawn, you would not be able to accumulate a large amount of notes over a long period of time without having to change them for newer notes.
How would you deal with that problem ?

That is a very minor problem, for starters the Bank of England give lots of notice when they intend to withdraw a particular note, it happened recently with the £50 note.

There are many ways to change up the old notes before they are withdrawn, one method is to visit a casino, put £300 into one of the machines and then push the "collect" button, you will get a ticket which you then put into another machine to get fresh notes.

Not that I have ever done such a thing obviously.     

[Jimmyredcab]

Just go in to your safe deposit box, take out £500 or even £1000 and call into a local bank branch and say can I change this £500 in £20's over to £500 in £10s please. Then, go into another bank branch and say can I change this £500 in £10s over to £500 in £20s and this would then be the new notes.

Barclays refuse to do that --------------------- they insist that you pay the old notes into your account and then draw out the fresh notes.     

[AnthG]

Barclays refuse to do that --------------------- they insist that you pay the old notes into your account and then draw out the fresh notes.     

I wasn't sure but I was thinking it was the fact that you were changing currency denominations would be the work around for it.

So basically swapping £500 in £20s to £500 in £10s and not even raising to the person in the bank that those £20s are in the old soon to be withdrawn note version.

I have with Barclays changed from £10s to £20s and vice versa without having any one ask anything. Not sure if its the same thing but many years ago before supermarkets offered machines to do it. I used to often see people with bags and bag fulls of penny and 2 pence pieces all going into the bank asking them to be counted up and swapped to notes. Which the bank teller would just hand over the notes at the end so no depositing into their account.

It was a frequent sight in my local barclays them doing it too. The used to always be infront of me in the queue.

Your idea with the casino does sound way better though to to be honest.

[adindas]

Not to mention ordinary WGs (not the exceptional one) will normally come from poor background. That is the major reason why they are in the industry. They might have some mouths to feed e.g. children, parents, partners/boyfriends. 

Also in majority of cases, they are not good in money management spending money on exclusive holidays, designer items, hair, tooth nails, etc.). Not to mention easy come easy go phenomenon.
By the end of the day people in porn and prostitution industries left with very little money by the end of their life is a fact. 

It`s surprising how quickly a girl can make a very large hole in £40,000 if she has 3 or 4 holidays in The Seychelles or The Bahamas and a trip to USA or Australia every year, and then, of course a girl needs lots of new clothes and beauty treatments, and a bit of pocket money for her boyfriend/partner, and by the end of the financial year she`s almost on the breadline again and hasn`t even enough left to top up her ISA.  How can she possibly be expected to afford to pay Income Tax and NI contributions on top of all that?

[Jimmyredcab]

I wasn't sure but I was thinking it was the fact that you were changing currency denominations would be the work around for it.

So basically swapping £500 in £20s to £500 in £10s and not even raising to the person in the bank that those £20s are in the old soon to be withdrawn note version.

I have with Barclays changed from £10s to £20s and vice versa without having any one ask anything. Not sure if its the same thing but many years ago before supermarkets offered machines to do it. I used to often see people with bags and bag fulls of penny and 2 pence pieces all going into the bank asking them to be counted up and swapped to notes. Which the bank teller would just hand over the notes at the end so no depositing into their account.

It was a frequent sight in my local barclays them doing it too. The used to always be infront of me in the queue.

Your idea with the casino does sound way better though to to be honest.

You can indeed go to Barclays and exchange coins for notes but they claim that they are not allowed to change notes for notes in any large quantity, obviously they would give you four fivers for a twenty pound note.

The reason they give is "money laundering regulations".     

[Curious6705]

You can indeed go to Barclays and exchange coins for notes but they claim that they are not allowed to change notes for notes in any large quantity, obviously they would give you four fivers for a twenty pound note.

The reason they give is "money laundering regulations".     

From my own personal experience I believe the kind of sums Anth refers to are not a problem.

[Jimmyredcab]

From my own personal experience I believe the kind of sums Anth refers to are not a problem.

Well from my personal experience Barclays will not change £500 of old notes into the new edition ---------- even before the old edition is withdrawn.

I had no problem with Lloyds.     

The Bank of England will change any old notes even when they are no longer legal tender but they require ID. 

[Curious6705]

Well from my personal experience Barclays will not change £500 of old notes into the new edition ---------- even before the old edition is withdrawn.

I had no problem with Lloyds.     

The Bank of England will change any old notes even when they are no longer legal tender but they require ID.

I often withdraw my "punting budget" from an ATM in a large branch and then take it to the counter service in another part of the bank to get it changed into higher denomination notes. Saying that - I've never done this at Barclays. 

[CoolTiger]

Generally, nowadays most banks will not even allow you to swap a £50 note into £5 and £10's, unless the cashier knows you personally. I know of a few businesses who frquently require £100 petty cash notes changed into lower denomination. It is such a pain in the arse (the petty cash girl is not a signatory on the company bank account), so she ends up paying it into her account, and the bank then gives her equivalent amount in bags of coins.

Jimmy is correct in that Barclays will not allow you to simply walk in with £500 in old notes, and do a straight swap for £500 in new notes. Whilst they would still let you swap them, they would insist that you pay into your account and then take it out as cash immediately. This way, they have stayed within the laws of Money Laundering Act. It also ensures that only customers of Barclays can use this service.

[ampersand]

I hear diamonds are reckoned to be inflation proof and you wouldn't need to worry about the Bank of England changing the design either.

[ampersand]

But you probably couldn't swap them in Barclays either.

[Curious6705]

Generally, nowadays most banks will not even allow you to swap a £50 note into £5 and £10's, unless the cashier knows you personally. I know of a few businesses who frquently require £100 petty cash notes changed into lower denomination. It is such a pain in the arse (the petty cash girl is not a signatory on the company bank account), so she ends up paying it into her account, and the bank then gives her equivalent amount in bags of coins.

I've not experienced a problem going the other way though - from lower denomination notes to higher - which I think is the main scenario Anth was alluding to. Also, in my case the cashier could have no idea who I was. 

[Jimmyredcab]

I've not experienced a problem going the other way though - from lower denomination notes to higher - which I think is the main scenario Anth was alluding to. Also, in my case the cashier could have no idea who I was. 

Your reply number 162 ----------


 "Saying that - I've never done this at Barclays." 

Question for you. 

If you draw cash from the ATM and then go to the cashier to exchange it for bigger notes ------------- why don't you just go to the cashier in the first place, I have done this if I need £50 notes to take on holiday. 

[Curious6705]

Your reply number 162 ----------


 "Saying that - I've never done this at Barclays." 

Question for you. 

If you draw cash from the ATM and then go to the cashier to exchange it for bigger notes ------------- why don't you just go to the cashier in the first place, I have done this if I need £50 notes to take on holiday.

It's my habit when I need cash to draw it from an ATM. I walked into the reception area of a large branch and said to a customer service rep I sometimes get smaller notes and what's the best way around it? They pointed to the ATMs and said draw your cash out there and then go to our business banking department where there is a counter service and ask the cashier to swap yours for larger notes. So that's what I do.

[potato]

It doesn't matter where you store the cash or how you change it for fresh notes, at the end of the day you still have to spend it or what's the point of earning it?  Spending it is the hard part - you can't buy anything expensive in cash without drawing attention to yourself. 

[smiths]

It doesn't matter where you store the cash or how you change it for fresh notes, at the end of the day you still have to spend it or what's the point of earning it?  Spending it is the hard part - you can't buy anything expensive in cash without drawing attention to yourself.

Indeed, but if you have family and/or friends that know a WG is a WG they could help buy needed or wanted bigger items.

[James999]

Many pro$$ies "invest" a large part of their earnings with the local dealer, and there's often a boyfriend around to hoover up any remaining cash, a pro$$ie with a decent amount of cash in the bank / at hand is about as rare as one that pays proper income tax, you only have to see how so many can't even afford a fiver for credit on their phone 

[cunnyhunt]

Indeed, but if you have family and/or friends that know a WG is a WG they could help buy needed or wanted bigger items.

I have listened to WG's tell stories that because family know how they make large sums of money they ask for help, the WG's feel they have no choice and have to help and find they are working to provide for many others.

[Tiffany Snow]

Every girl I know uses Escort Accountants. They contact us all the time on various sites with their details and know all about Adultwork and cost of hotels, condoms, flat rents and hair, make up and clothing costs for this type of work. They only charge about £250 a year to manage a girls accounts. They show you how to be registered self employed and keep track of your monthly income and then they do your yearly tax return. If you want they can write off loads of expenses so you don't pay as much tax just like a lot of other self employed people do or more often the girl will want to pay the full amount of tax so she has 3 years of tax returns to show she has an income large enough to get a mortgage for a house.

Where as most girls are capable or earning £2000 in a week pretty every girl I know will work for a bit and then take a lot of time off as it's draining doing it constantly, so it's more like £2000 a month. If you've ever shagged a WG that's putting in no effort it's because she's worked for too long. The sensible girls will do 1 or 2 meets a day 5 days a week and do all their income via an accountant so that they can get the mortgage for a house to then pay their house off before they get too sick of working and settle down. The woman who claimed to get £1000 a night and tried to put £100,000 cash down as deposit on a house was a very hard to believe story as you can't even pay more than £1000 in cash for payment of a car at my local car dealer to avoid money laundering.

Alternatively you also have girls who just do it whilst they are uni students and you have single mums who do it once or twice a month to get some extra cash in to buy things for their kids. I doubt there are many men on here that have ever met a women they never had to spend a penny on. Isn't tbs joke that a "Prossie" is cheaper than a wife!

Very few girls if any do £2k a week and then not pay any tax. Like OP said it doesn't make sense. The biggest thing any girl wants is a home and a relationship. They escort long enough to get 3 years tax returns to buy a house and then maybe train as a beautician or hair dresser or my friend who is about to do home teeth whitening to pay the mortgage and they can then get a boyfriend. Wanting a relationship is the main reason most girls quit the job.

[James999]

I have listened to WG's tell stories that because family know how they make large sums of money they ask for help, the WG's feel they have no choice and have to help and find they are working to provide for many others.

Many come from broken homes or their family have disowned them that they don't have this problem 

[CatBBW]

Every girl I know uses Escort Accountants. They contact us all the time on various sites with their details and know all about Adultwork and cost of hotels, condoms, flat rents and hair, make up and clothing costs for this type of work. They only charge about £250 a year to manage a girls accounts. They show you how to be registered self employed and keep track of your monthly income and then they do your yearly tax return. If you want they can write off loads of expenses so you don't pay as much tax just like a lot of other self employed people do or more often the girl will want to pay the full amount of tax so she has 3 years of tax returns to show she has an income large enough to get a mortgage for a house.

Where as most girls are capable or earning £2000 in a week pretty every girl I know will work for a bit and then take a lot of time off as it's draining doing it constantly, so it's more like £2000 a month. If you've ever shagged a WG that's putting in no effort it's because she's worked for too long. The sensible girls will do 1 or 2 meets a day 5 days a week and do all their income via an accountant so that they can get the mortgage for a house to then pay their house off before they get too sick of working and settle down. The woman who claimed to get £1000 a night and tried to put £100,000 cash down as deposit on a house was a very hard to believe story as you can't even pay more than £1000 in cash for payment of a car at my local car dealer to avoid money laundering.

Alternatively you also have girls who just do it whilst they are uni students and you have single mums who do it once or twice a month to get some extra cash in to buy things for their kids. I doubt there are many men on here that have ever met a women they never had to spend a penny on. Isn't tbs joke that a "Prossie" is cheaper than a wife!

Very few girls if any do £2k a week and then not pay any tax. Like OP said it doesn't make sense. The biggest thing any girl wants is a home and a relationship. They escort long enough to get 3 years tax returns to buy a house and then maybe train as a beautician or hair dresser or my friend who is about to do home teeth whitening to pay the mortgage and they can then get a boyfriend. Wanting a relationship is the main reason most girls quit the job.

Sweeping generalisations, much?

Some of us don't need or use accountants (cos it's SO simple to read the HMRC advice and do the yearly maths).

"The biggest thing any girl wants is a home and a relationship." Although some would prefer a huge shoe collection, 4 holidays a year, or savings for an early retirement... perhaps the younger ladies would be more likely to want to 'settle down' and play house, but for some - and certainly many - of the not-so-young ladies have other needs, wants and goals in sight.

Your third paragraph was pretty  much spot on, though.

[cunnyhunt]

Every girl I know uses Escort Accountants.

Snip

The biggest load of shit I have read for a long time.

[RandyF]

Post of the month Tiffany Snow 

Load of fucking shite mind you, but not to worry 

[Tiffany Snow]

Sweeping generalisations, much?

Some of us don't need or use accountants (cos it's SO simple to read the HMRC advice and do the yearly maths).

"The biggest thing any girl wants is a home and a relationship." Although some would prefer a huge shoe collection, 4 holidays a year, or savings for an early retirement... perhaps the younger ladies would be more likely to want to 'settle down' and play house, but for some - and certainly many - of the not-so-young ladies have other needs, wants and goals in sight.

Your third paragraph was pretty  much spot on, though.

Apologies for any offence caused. I should have made it clearer it was based on girls I know. I should probably point out I know about 15 working girls closely so I'm not qualified to comment on the financial affairs of the other 100,000 (according to Wikipedia). I probably should have said that in my last post.

[James999]

Every girl I know uses Escort Accountants.

Could you perhaps just give a couple of examples that we can check with HMRC 

[LL]

Surely they just take the cash back to Poland/Hungary/Romania every few weeks and then if asked about it when depositing in their home country they could falsely claim that the tax has been paid on the money in another EU member state - i.e. in the UK.

[Jimmyredcab]

Every girl I know uses Escort Accountants.

Total fucking bullshit.   

Every prostitute that I know is on benefits.

Piss off back to Saafe.

No offense meant.   

[thewonderingdick]

You are looking at it from a business angle these girls look at it as fun part time earnings just make enough to have some nice holidays buy their kids nice things get a nice car, splash out on clothes make-up breast implants And work when they feel like it ..great easy life

[James999]

You are looking at it from a business angle these girls look at it as fun part time earnings just make enough to have some nice holidays buy their kids nice things get a nice car, splash out on clothes make-up breast implants And work when they feel like it ..great easy life

You've been watching to much TV, very few have nice holidays, most don't even own a car and the courtesans who do drive will spout about it being a prestige car, and the reality is it's a 1989 merc 190 worth about £400 you only have to look at the shitholes many work from and how they can't even put £5 crdit on a phone 

[Jimmyredcab]

You are looking at it from a business angle these girls look at it as fun part time earnings just make enough to have some nice holidays buy their kids nice things get a nice car, splash out on clothes make-up breast implants And work when they feel like it ..great easy life

Great easy life   ????????????

How would you like to be fucked by every Tom, Dick and Abdul day after day.   ?????

Yes, it is highly lucrative but not a great easy life.     

[cunnyhunt]

You are looking at it from a business angle these girls look at it as fun part time earnings just make enough to have some nice holidays buy their kids nice things get a nice car, splash out on clothes make-up breast implants And work when they feel like it ..great easy life

What you state could not be further from the truth.

You need to remove the fluff from your glasses