Hi all,
Newly LTD contractor looking for a bit of advice on the money in my business bank account. Having paid out X amount in salary/dividends, i understand that what's left is what needs to be paid to HMRC-etc. However, since i'm billed quarterly for (i believe) VAT and yearly for all the other taxes, is it possible to put this money into a higher interest savings account (ISA-etc) and keep it there until I have to pay HMRC?
Or would doing so contravene a business operating code or something similar?
Newly LTD contractor looking for a bit of advice on the money in my business bank account. Having paid out X amount in salary/dividends, i understand that what's left is what needs to be paid to HMRC-etc. However, since i'm billed quarterly for (i believe) VAT and yearly for all the other taxes, is it possible to put this money into a higher interest savings account (ISA-etc) and keep it there until I have to pay HMRC?
Or would doing so contravene a business operating code or something similar?
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