Bank Acct frozen...bank not explaining
A friend of mine [honestly] went into bank to take out a large amt of cash that he had ordered [his business deals in a lot of cash purchases].
The bank wouldn't give him the money [the money was in the acct] and would only say 'we currently can't process your transaction'; when he pushed them they gave him a letter saying exactly the same thing. Basically his acct has been frozen and he can't find out why.
His solicitor seems to think that if it was the police they would have had to serve a notice on himabout it??
Is there something whereby the bank has reported him as potential money laundering and there is a 48 period for HMRC to make an assessment??? Or is it more likely that he has actually been on HMRC radar and they have frozen it??
He's a legitimate trader with about 25 Eastern European workers all about to go home tomorrow for xmas and he can't pay them!!! Similarly he has a lot of local suppliers that he can't pay??
His solicitor has faxed a letter to the bank expalining the effects...but is there a way he can find out for definite why it has been frozen????
- What code do you put expenses under such as tea & coffee? 174 4
- capital gains on PPR 232 13
- Treatment of goodwill in Consolidation 349 13
- Claiming depreciation on a company vehicle 154 7
- Any Scottish members out there? 11,781 441
- WHAT IS THE BEST WAY TAX EFFICIENT WAY TO SELL 40% SHARES IN YOUR START UP BUSINESS FOR APPROXIMATELY 1 MILLION POUNDS 128 2
- Now Scotland has voted "No", when does England get to vote? 1,285 62
- Company expansion 79 1
- Do I need a 13digit tax ref for a ct600 368 6
- Pension Contributions Relief 489 15
- Is there an expert in Excel out there? 515 8
- 100% Xero practice 2,472 46
- Fees for Property Tax Return 241 6
- Can I calculate a total amount on my freelance tax relief? 167 1
- Separating business for VAT purposes 152 2
- Underpaid Tax Options on SE 293 9
- PRR 365 13
- 40% rule for travel expenses 405 11
- Cash injection by shareholder 317 7
- Private portion of costs and expenses in Accounts 441 20
- Raiders of the Lost Tax File 1,314
- Chartered Accountant in County Down N.Ireland 480
- National Insurance 369
- Non Resident 296
- Franchise income and costs 261
- Hands on experience of Digita 214
- Best way to take money from a business if you have unlimited EIS allowances? 192
- Employer's Helpline 165
- employment capital allowances 161
- CIS paid under reg 9 157