| james_112233 | 04-14-2022 06:00 PM | Re: Tax for Stealth Accounts You open a business bank account that isn't polluted with personal transactions and strictly for business use.
Money in ... Minus money out
Keep receipts for stock you purchase and other business expenses
Keep records for stock you sell to customers or an account of any money coming in to your business bank account
Give that to an accountant to file your taxes at the end of the year, will cost less than £1000.
Where you sell your stock doesn't matter to HMRC what matters is that you are declaring your income. |