Marking payments as personal which are paid into the business account.
Hi,
This is a question about marking payments into my bank account as personal, non-business payments.
I'm going through my accounts explaining transactions and as I've only recently opened a Business Account, there are a mixture of business and personal transactions within this older account.
I was given £500 as a gift from my father and I'm wondering what to mark the payment as so I'm not taxed on it?
Thankyou,
James
This is a question about marking payments into my bank account as personal, non-business payments.
I'm going through my accounts explaining transactions and as I've only recently opened a Business Account, there are a mixture of business and personal transactions within this older account.
I was given £500 as a gift from my father and I'm wondering what to mark the payment as so I'm not taxed on it?
Thankyou,
James
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Inappropriate?Hi James,
As you've also put this through on support@freeagentcentral.com I'll answer it for you there.
Kind regards,
Emily
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