Cazz
11-09-2012, 09:16 PM
I don't have a business account - I was under the impression that it's not necessary due to the low income/nature of our business?
One of my parents pays by childcare vouchers so that goes straight into my ISA account (try to leave it there for Christmas, in event of tax bill etc).
Three others pay me by cheque which I just pay into my main everyday current account and the other parent pays me in cash - sometimes I pay all or some of it into my account but often I keep it to use for shopping etc.
Am I doing wrong as it's occured to me that if the Inland Revenue wanted to inspect me I can't actually prove the amounts I've been paid.
I do give parents receipts and I fill in the section at the back of the NCMA accounts book which details each child's monthly fees but I don't get the parents to sign this.
One of my parents pays by childcare vouchers so that goes straight into my ISA account (try to leave it there for Christmas, in event of tax bill etc).
Three others pay me by cheque which I just pay into my main everyday current account and the other parent pays me in cash - sometimes I pay all or some of it into my account but often I keep it to use for shopping etc.
Am I doing wrong as it's occured to me that if the Inland Revenue wanted to inspect me I can't actually prove the amounts I've been paid.
I do give parents receipts and I fill in the section at the back of the NCMA accounts book which details each child's monthly fees but I don't get the parents to sign this.