Nearly half admit cash in hand deals
1st August 2017

Almost half the population – and more than half of over-55s – admit paying a tradesman in cash to get a cheaper deal, with Liverpool people topping the league as more than twice as likely as those in London, Plymouth, Southampton and Cardiff.

The survey, by home service site Plentific.com, comes in the wake of the government-backed Taylor Review, which concluded that up to £6billion a year went on work for cash – much of it untaxed – though digital payment platforms could make it more rare in future.

The statistics show that adults aged 55 and over are more likely to pay a tradesman cash in hand (56%), compared to young adults (18 to 34-year-olds), of which just 33% admitted they had paid using cash to get a cheaper deal. While this suggests that the older generation may be more thrifty when it comes to hiring a tradesman, it could also be a reflection of the changing times, with cash payments becoming far less frequent in today’s economy. 

Cash in hand may be the preferred method of payment for some professions, however, for tradesmen it seems many are feeling the pressure on their businesses to compete with those willing to take a lower fee in cash payments. Being paid for work using a payment platform helps to ensure a level playing field in terms of job competition, as well as often providing a lot more security than cash in hand payments. Having a backed guarantee and digital paper trail means that any dispute over payments can be backed up with hard evidence. 

Stephen Jury, spokesperson for Plentific, said: “Tradesmen are often painted in a bad light by the media when it comes to things like cash in hand payments. Our statistics show that actually, it can be the customers who are driving this option to save a few pounds.

He continued: “Paying in cash is costing the government an enormous amount of money and people are putting themselves at unnecessary risk. Ultimately, those who seek a cheaper deal by paying in cash in hand are doing the government and economy a great deal of harm.”