Is it Illegal to Keep Large Sums of Cash at Home in the UK?
Learn the legalities of storing large amounts of cash at home in the UK and how to keep your money safe.
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In the UK, it is not illegal to keep large sums of cash at home; however, it can attract suspicion from law enforcement if the source of the cash is unclear. To avoid complications, it's advisable to keep thorough records of how the money was obtained and consider safer alternatives for large sums, such as a secure bank account.
FAQs & Answers
- Is there a limit on how much cash I can keep at home in the UK? No legal limit exists, but holding large amounts can raise suspicions from law enforcement.
- What should I do with cash that I don't want to keep at home? Consider using a secure bank account or financial institution for safer storage.
- How can I prove the source of my cash? Maintaining thorough records, such as receipts and bank statements, can help substantiate the source of your money.