We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Left over in business accounts?
firehawk_2
Posts: 148 Forumite
i have an accountant that charges alot for doing basically nothing... aside from the tax returns and PAYE/NIC stuff.
I am a contractor, have my own LTD company and just me employed.
I believe I have a few quid left over in my business bank account. Given the current financial situation, I want to see if I have left "extra" money in the account that I can take?
basically, I charge a fix rate/day for work. Then after that, I take a %age of that (ex tax) for my wage. The %age left, is in the business account for expenses, PAYE/NIC. The tax of course is seperate - for the taxman.
Sometimes I am cautious and I leave a few quid extra just in case. This is my coming into 2nd year of my company running.... and wondering if there is a way to determine if I have left some %age extra in the business account that I can transfer over?
how can I check this? is there a way? I just want to play safe - thats all.
I am a contractor, have my own LTD company and just me employed.
I believe I have a few quid left over in my business bank account. Given the current financial situation, I want to see if I have left "extra" money in the account that I can take?
basically, I charge a fix rate/day for work. Then after that, I take a %age of that (ex tax) for my wage. The %age left, is in the business account for expenses, PAYE/NIC. The tax of course is seperate - for the taxman.
Sometimes I am cautious and I leave a few quid extra just in case. This is my coming into 2nd year of my company running.... and wondering if there is a way to determine if I have left some %age extra in the business account that I can transfer over?
how can I check this? is there a way? I just want to play safe - thats all.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards