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Which way to deal with money? - 16-11-10, 10:04 PM

At the end of the week I give my land lord her rent and take what I need for a wage and put the rest into my business account buy was thinking, should I put everything into the account and take my wage and rent out once its cleared? I think its pointless putting it all in and then having to twke it out again especially when I put my takings in on Saturday evening when banks are closed so I won't have access to that money until Tuesday!
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16-11-10, 10:07 PM

I don't think it mattters which way you do it, as long as you declare it all in your accounts.
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16-11-10, 11:13 PM

'What you call "wages" are not tax deductible, so it doesn't really matter how you take them (as long as you declare all your takings).

However your rent will be a major expense, so it would be best to pay for it, by cheque, from your business acc, to back up the receipts (HMRC like paper trails)
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