What if clients ask: 'do you take cash?'

CASH IN HAND

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What would your response be to a client who wanted to pay you cash in hand, asks Mark Lisle, compliance manager of Rowanmoor.

Times change, as do sentiments. In the 80s, comedian Ken Dodd was acquitted of tax evasion, after £336,000 was found in cash in his attic, said to be the proceeds of a cash-based approach to his working life, in which he was accused of having avoided paying tax in a career that, at that point, spanned 35 years in show business. Jockey Lester Piggott was jailed for tax fraud and stripped of his OBE, and served over a year in prison. Take the recent matter of Jimmy Carr and the K2 tax mitigation scheme. This clearly was not Jimmy Carr's idea; he has been advised to use the structure in the...

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