Keep business and personal spending separate
A dedicated business account makes bookkeeping quicker, strengthens your audit trail and reduces the risk of drawings being treated incorrectly.
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Category: <span>Practical insights</span>
Save evidence at the point of purchase
A bank transaction alone is not always enough to support VAT recovery. Keep the full VAT invoice and note the business purpose.
Read more →Tax is not the same as available cash
Set aside VAT, PAYE and corporation tax as liabilities build. A separate tax reserve helps avoid a payment crunch.
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