General Betting
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Just wondering if it will be any problems or getting problems with betfair and my bank by withdrawing money every week, lets say every 2 days or twice a week, using the method of bank transfer? Amount to withdraw is around £500
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thinly veiled "i make 1,000+ every week" thread...
can't see a problem with it, don't the bank legally have to notify HMRC of single amounts over 10k or 10k in smaller maounts in a set timeframe though... if you were trying to get around the 10k rule that is  |
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What I mean is if I will get in trouble if a do this 3 times a week that's about 12 banks transfers, could someone tell if they have been in this situation...
I have set a goal to every time I make £500 I would withdraw and that takes me about two days to achieve that which I think if I keep withdrawing every time in such a short time my account will get closed or my bank will start to ask questions? |
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You'll have no problems, but what have you been doing up until now? Sounds like you're over estimating based on a recent lucky streak.
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I used to withdraw every few days, did so for a long time with no problems. I did have a weird conversation with my bank manager once who said that if she suspected me of running a business through my account she would close it down. Didn't happen tough.
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365 divided by 2 x 500 = £91,250pa tax free
wheres stakey now then... WD |