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Guzman
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Group: Forum Members
Posts: 2,
Visits: 11
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+x+x+x+x+x+xHello everyone, Long time lurker here  I received a 2 yr suspended sentence in February 2015 for fraud. It related to offences in 2010 and took a long time to get to court. I actually received pretty favourable comments from the judge and was given no community service nor costs to pay due to the way I had been treated by the prosecution. On the downside, I have a pretty unique name and my case was given media coverage. As a result, I was struck off from my profession even though it was not related to my offence. (Different job) Still, fair enough and I accepted it. I worked as a labourer for my father for a year or so, but we don't really see eye to eye, so that came to end. With little options I spent my time learning about selling online and have set up 2 online stores since. Now the issue is that the 2nd store has been pretty successful, in fact better than I could have imagined. I have 2 personal bank accounts that I use to pay for supplies / taxes etc but this is not ideal. I try to use Paypal as much as I can to stop my personal accounts being flagged for business use to. (Paypal also charge me more too) I really want to grow the business and a business account would help. I applied to my own bank for a business account around 18 months ago and was rejected with no reason given. I'm now scared to apply again or with another bank as I don't want my name being flagged up, and ending up getting my personal accounts blocked too. I know banks share information and I could well have been given a CIFAS marker. ( i think this lasts 6 years so maybe it will be OK after then, but 2 years is a long time to wait) I think I have proven that I will not offend again (offence now 9 years ago) but I know banks are so risk adverse and my name just does not help. Also, I am now paying a significant amount of income tax and VAT. I had considered speaking to my local MP but I just don't want to destroy what I have built up by drawing attention. So, I'm sorry for the long winded post but does anyone have any advice at all? It would be greatly appreciated. Thank you. Unlock has information about this on their website here. It might be that they have a different reason for not opening a business account for you. Even if it was because of Cifas, they wouldn't add extra information unless they thought your application for an account was fraudulent. You could always try discussing it with your bank, as they may have a different view 18 months after the first application, but at least you would know why they turned you down. If they won't tell you anything, you can make a subject access request to them under Freedom of Information, and they'd have to tell you anyway. You could also contact your local Chamber of Commerce, as they may be able to help you. Also just set up as a sole trader and register for VAT maybe ? Thanks for the reply Supreme Being. I am already registered as a sole trader and registered for VAT I think my only option is trying with my bank again, and if rejected approach my local MP. I paid close to £100k in VAT last year which will increase significantly this year if I continue to grow. Surely the Govt wouldn't want to lose that money lol £100k in Vat? Congrats on your success, what do you do? Your expertise could be helpful for us on here trying to find our way...? I run an ecommerce store mate, selling fitness related products. It's great selling online, as I am basically invisible. It has gone much better than expected and I have learned never to take anything for granted. I taught myself advertising etc and started small. Really small in fact. And just continued to grow it. Sometimes things happen for a reason and my quality of life is pretty good just now. Of course there are still complications like a business bank account for example lol Also, the house I stay in my girlfriends name only is on the mortgage, as is our car. I don't really like to put my name to anything for the time being. For my business I try to do as much as possible through Paypal. They don't have a problem with me and I don't have a problem with them. (Though they charge me more than perhaps if i had a business account) I just can't wait for 2 years time when my conviction will become spent. I will feel a lot better then. Hi, i know this is late but please can you please give more insight into the kind of fitness products you sell. I would like to start a similar business. Please i need your all the help i can get to start my own business. Thanks
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Blueman202
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Group: Forum Members
Posts: 71,
Visits: 1.4K
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I don’t have any exspericaence with a cifas mark but I’ve used both plus500 and etoro before and would highly recommend trying them. It might be worth emailing them using an allies and asking what there procedure is.
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G.swarm
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Group: Forum Members
Posts: 4,
Visits: 47
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Hi, does anyone know how “trading 212” acts when it comes to cifas marks, and what is the best online stock broker for someone wth a CIFAS 6 mark. I’m going to try to apply for trasing 212 account later this week, and will uodate you if it works. In the meantime, please if anyone knows more info that would be great, thanks
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marcovanba
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Group: Forum Members
Posts: 20,
Visits: 1.6K
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+x+xHi guys, Thanks for replying to my "old" post. I've been using my Paypal account mostly for business which has worked thus far. Not ideal (with the extra fees involved) but needs must. It's also stopped me from setting up a LTD company so I pay more tax etc My conviction should actually become spent in 366 days. Yes, 1 year and 1 day, not that I'm counting. I am hoping after this things should be a little more relaxed. I will contact CIFAS after this date to make sure there i nothing on my record. I know there most severe marker lasts 6 years. 6 years was also the time for my conviction to become spent. To be honest I've had to jump through hoops to make things work, and it still does cause me a great deal of anxiety. Not had any problems with my personal accounts etc but I dread communicating with my bank if I need to!!! Hi to clarify, do you mean the CIFAS. Prevents you from registering as a LTD company, or do you mean the fact that you can’t get a business account. I want to start a ltd company and i have a business account but i also have a cifas 6 marker, so i want to know if i can still register as a ltd company Hi G.swarm, I was able to set up a LTD company with no issues. My accountant set it up. I was rejected for a business bank though. That was a couple of years ago now though, so will try again when my conviction is spent. (Feb 2021)
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G.swarm
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Group: Forum Members
Posts: 4,
Visits: 47
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+xHi guys, Thanks for replying to my "old" post. I've been using my Paypal account mostly for business which has worked thus far. Not ideal (with the extra fees involved) but needs must. It's also stopped me from setting up a LTD company so I pay more tax etc My conviction should actually become spent in 366 days. Yes, 1 year and 1 day, not that I'm counting. I am hoping after this things should be a little more relaxed. I will contact CIFAS after this date to make sure there i nothing on my record. I know there most severe marker lasts 6 years. 6 years was also the time for my conviction to become spent. To be honest I've had to jump through hoops to make things work, and it still does cause me a great deal of anxiety. Not had any problems with my personal accounts etc but I dread communicating with my bank if I need to!!! Hi to clarify, do you mean the CIFAS. Prevents you from registering as a LTD company, or do you mean the fact that you can’t get a business account. I want to start a ltd company and i have a business account but i also have a cifas 6 marker, so i want to know if i can still register as a ltd company
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G.swarm
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Group: Forum Members
Posts: 4,
Visits: 47
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+xHello, can you succesfully manage to register as a sole trader even with a CIFAS 6 marker? Update my people, i have since registered as a sole trader and even got a business account in monzo. Now all thats left is to keep working and keep getting money. after my cifas 6 marker has ended i will be switching to a limited company, but until then a sole tradership will do especially compared to when i thought i could not legally start a business at all. Minzo is the way people, minzo is the way.
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G.swarm
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Group: Forum Members
Posts: 4,
Visits: 47
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Hello, can you succesfully manage to register as a sole trader even with a CIFAS 6 marker?
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AB2014
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Group: Forum Members
Posts: 1.1K,
Visits: 7.4K
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+xSo does this database, or banks in general, not come under ROA? With the OP's sentence and the length of time passed, the conviction should now be spent. The ROA would apply, but as Cifas doesn't hold anything beyond the fact of conviction, it's a bit more complicated than it should be. They generally hold information for as long as the statute-barring period for debts: 6 years. However, if the conviction becomes spent before then, you could ask them to remove it as they no longer have the legal right to process that information.
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If you are to punish a man retributively you must injure him. If you are to reform him you must improve him. And men are not improved by injuries. (George Bernard Shaw)
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Derek Arnold
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Group: Forum Members
Posts: 19,
Visits: 49
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+xHello everyone, Long time lurker here I received a 2 yr suspended sentence in February 2015 for fraud. It related to offences in 2010 and took a long time to get to court. I actually received pretty favourable comments from the judge and was given no community service nor costs to pay due to the way I had been treated by the prosecution. On the downside, I have a pretty unique name and my case was given media coverage. As a result, I was struck off from my profession even though it was not related to my offence. (Different job) Still, fair enough and I accepted it. I worked as a labourer for my father for a year or so, but we don't really see eye to eye, so that came to end. With little options I spent my time learning about selling online and have set up 2 online stores since. Now the issue is that the 2nd store has been pretty successful, in fact better than I could have imagined. I have 2 personal bank accounts that I use to pay for supplies / taxes etc but this is not ideal. I try to use Paypal as much as I can to stop my personal accounts being flagged for business use to. (Paypal also charge me more too) I really want to grow the business and a business account would help. I applied to my own bank for a business account around 18 months ago and was rejected with no reason given. I'm now scared to apply again or with another bank as I don't want my name being flagged up, and ending up getting my personal accounts blocked too. I know banks share information and I could well have been given a CIFAS marker. ( i think this lasts 6 years so maybe it will be OK after then, but 2 years is a long time to wait) I think I have proven that I will not offend again (offence now 9 years ago) but I know banks are so risk adverse and my name just does not help. Also, I am now paying a significant amount of income tax and VAT. I had considered speaking to my local MP but I just don't want to destroy what I have built up by drawing attention. So, I'm sorry for the long winded post but does anyone have any advice at all? It would be greatly appreciated. Thank you. I received an eight year sentence for 'conspiracy to defraud'. When I was released in 2016 at the half-way mark, I went to HSBC, my previous bank of many years (since their Midland days in fact). They were not interested in having me as a customer despite umpteen years of loyal banking. I trotted off to Barclays, filled out the forms, presented my ID and my 'departure cheque' from prison and opened a bank account on the spot. They didn't ask, I didn't tell and I've been banking with them since. I only wanted a basic bank account, don't 'do' credit cards or overdrafts and stuff - if I don't have the money, I go without. They're worth a try.
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marcovanba
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Group: Forum Members
Posts: 20,
Visits: 1.6K
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Hi guys,
Thanks for replying to my "old" post.
I've been using my Paypal account mostly for business which has worked thus far.
Not ideal (with the extra fees involved) but needs must. It's also stopped me from setting up a LTD company so I pay more tax etc
My conviction should actually become spent in 366 days. Yes, 1 year and 1 day, not that I'm counting.
I am hoping after this things should be a little more relaxed. I will contact CIFAS after this date to make sure there i nothing on my record.
I know there most severe marker lasts 6 years. 6 years was also the time for my conviction to become spent.
To be honest I've had to jump through hoops to make things work, and it still does cause me a great deal of anxiety.
Not had any problems with my personal accounts etc but I dread communicating with my bank if I need to!!!
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