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Hi all
Sorry if this has been asked before but just trying to clarify a few issues
Im starting as self employed (sole trader) in 2 weeks. Handed my notice in at my current place etc so its all go!
I am just wondering what you guys do regarding accounts? My plan is to open a Business Account, all monies can be paid into here and items paid for from here. I then will open a seperate savings account to deposit my 20% tax from each job into which will be then ready to pay off my Tax bill etc. I may then open a 3rd account just for my personal use ie food shop, beers etc which i will make deposits to each month from my business account? This frees up my business account to focus on business bits.
Does any of this sound fair or would you guys suggest something different.
Any help/suggestions are greatly appreciated!
Sorry if this has been asked before but just trying to clarify a few issues
Im starting as self employed (sole trader) in 2 weeks. Handed my notice in at my current place etc so its all go!
I am just wondering what you guys do regarding accounts? My plan is to open a Business Account, all monies can be paid into here and items paid for from here. I then will open a seperate savings account to deposit my 20% tax from each job into which will be then ready to pay off my Tax bill etc. I may then open a 3rd account just for my personal use ie food shop, beers etc which i will make deposits to each month from my business account? This frees up my business account to focus on business bits.
Does any of this sound fair or would you guys suggest something different.
Any help/suggestions are greatly appreciated!