Hi guys hope all is going well with your ports. Mine is static although it's a relief that divs and sales go through when FI embark on the draconian measure of suspending your account without notice!
Just thought I'd update you on how FI are managing the EDD process. On Sunday night I asked for the sum of money they will give me if I do not send my tax return to them. To recap I've sent everything else they requested to their satisfaction. The tax return for me is a red line, a step too far. Anyway, not reply so I emailed tonight asking for an esculation to a senior manager.
I'm writing to the Gambling Commission and to the Information Commission regarding the processes of FI. We shall see.
Keep winning. This might be you when you want your money out.
Take Care.

@Baydog thanks mate. Currently I'm waiting for the settlement figure. I really don't want to carry on dealing with this company. I only do this for fun and their draconian rules have spoilt it. I'm not really a gambler and having large sums in such a Micky Mouse company concerns me. I'm not a good gambler because I am also a very, very bad loser. I cry if I lose £2.50 each way on the Grand National. I shall use the spare time that FI have freed up for me to ensure they remember my name. The Gambling Commission will be my first port of call to try and get EDD checks done at time of deposit. This might make them more efficient at them then.
Good luck with your admin. I'm going to have a look at this FootStock.

@Mintyfresh Good morning. A little more prospective on this. Why would someone who has got his dirty money into a bank without suspicion from the authorities then put the money into a gambling site who appear to have a much stricter approach.? Makes no sense. Just bank transfer it out the country. That’s what happened in Layer Cake 😃
Hard thing was getting ill gotten gains into the bank in the first place.

@Mintyfresh cheers. Many thanks. I'll give that a go. The fact that I said I was self employed, sent link to my business website ( showing me with upstanding TV celebs), bank statement showing daily credit card deposits, my personal bank account, clarification of a large sum sent to me by the French Gov, indirectly but that's where the money came from don't ask and then he asks for a document a self employed person doesn't have. Phone drones!

@Mintyfresh I don't even know if as a self employed person do I have a P6?. It a cost me £60 to ask my accountant so fuck it I'll see what the terms of closure are first.

@Mintyfresh it might of been me. Just checked the email from FI it was P60. I have to say the individual concerned carrying out the EDD has been very professional, other than just freezing my account with no notice and I have no problem with him. I believe like most things with FI the system is flawed. Make it up as you go along management style.

@Londoner said in A Sad Day:

@LittleFish I hope you sort this out. That deadline is the time that they'll let you know the outcome of their enquiries, or they'll require additional information. When I did my EDD last month, they responded the day after the deadline requiring additional information.

It appears to me they are aggressively making sure more "risky" accounts (i.e. non PAYE traders) can be verified beyond reasonable doubt that their source of income is clean. Just one account being discovered by authorities to be dodgy money will lead to FI's licence being revoked.

I've asked FI in this thread (FI Mark) whether they will move to doing these checks with all account holders BEFORE they can open an account, so that they fall in line with the exchange industry. No reply as yet: https://forums.footballindex.co.uk/topic/17071/the-edd-policy-has-to-change-asap

They would never willingly do that. Who in their right mind would go to all this trouble to open an account. It is totally underhand to do it when you've had money in for 18 months and want it back.

I shall be writing to the Gambling commission expressing my concerns that because of their procedures for checking for Source of Funds FI may be benefiting from illegal activity.

There I think I can hear my account closing.

@Mintyfresh they asked for my P60 not my full tax return.

@Mintyfresh cheers just to clarify a legal work of fiction. Obviously my accountants job is to minimise tax paid. A tax return doesn't show you just spent £200k on new plant or whatever.
But I can see why they want it. Been helpful if they asked for it at the beginning.

And I would add the the DD and the EDD when I withdrew money. Not when a big chunk was deposited in for the bonus. They have been taking commission from that money. Only concerned when I want it back.

@Mintyfresh thanks for your kind comments. Could you just explain how a tax return can prove source of wealth. As any self employed person knows it is usually the greatest work of fiction since an infinite number of monkeys were each given a typewriter.