TOP TIP

Open a business operating account and a tax savings account. It is good practice to transfer around 15% of gross income into your tax saver a/c.

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Bank all income intact into the operating account and pay all business expenses from your bank or business credit card.

 

This ensures all records are easily tracked which keeps our time and your costs down. It also creates a good transaction trail to help you survive potential tax audits and makes good business sense should you ever want to sell - buyers love to see good records. They rarely believe word-of-mouth about cash income!