![]() cash payments totalling 10,000 euros or more which appear to have been broken down into smaller amounts so that they come below the high value payment limit.several cash payments for a single transaction totalling 10,000 euros or more, including a series of payments and payments on account.a single cash payment of 10,000 euros or more for goods. ![]() HMRC considers a high value payment to be: This includes when a customer deposits cash directly into your bank account, or when they pay cash to a third party for your benefit. Traders are allowed to refuse payments with more than 50 coins, as well as banknotes that significantly exceed the amount to be paid.You may have to register with HMRC if your business operates as a high value dealer.Ī high value dealer under money laundering regulations is any business or sole trader that accepts or makes high value cash payments of 10,000 euros or more (or equivalent in any currency) in exchange for goods.Ĭash means notes, coins, or traveller’s cheques. If there is any doubt about the authenticity of the banknote, the merchant may ask you for your identity and the origin of the banknote. The same applies if there are safety concerns (for example, if a payment is made at night). Traders may refuse to accept damaged banknotes. Traders are obliged to accept cash, otherwise a fine of max. ![]()
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