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  • FIRST POST
    • potterspury
    • By potterspury 11th Jun 17, 7:15 PM
    • 34Posts
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    potterspury
    Just started business, is it best to pay tax credits into business account?
    • #1
    • 11th Jun 17, 7:15 PM
    Just started business, is it best to pay tax credits into business account? 11th Jun 17 at 7:15 PM
    Are tax credits counted as income? If they are and would used in your end of year tax return , would it make sense to have them paid into your business account with all your other business payments ?

    When I do a tax return I use that account to check all the money that has come in and out of business.
Page 1
    • Alice Holt
    • By Alice Holt 11th Jun 17, 9:27 PM
    • 1,075 Posts
    • 1,161 Thanks
    Alice Holt
    • #2
    • 11th Jun 17, 9:27 PM
    • #2
    • 11th Jun 17, 9:27 PM
    No.
    Tax Credits are personal income not Business Revenue.

    Are you running accurate business book-keeping accounts?
    https://www.gov.uk/self-employed-records/overview
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