Sole Trader Personal and Business Account..

[MACY]

hi everyone,
I just want to clarify onething i am self employed on psw and i intend to switch to Tier 1 G in few months, I am earning 2500 GBP approx every Month and i deposit all my money in to my business bank account, and end of the month i transfer 2k into my personal account which is after the business expenses, my question is, is this a right way to make things clear for claiming the points for earnings.? or i need to do it some other way. if i earn some more money during the time can i increase the personal bank transaction as well..? this is the question which i cant get answer from accountants or solicitors. I hope some one has the knowledge on this subject. please suggest me if u think i should do it some other way. thnx in advance.

[Sushil-ACCA]

hi everyone,
I just want to clarify onething i am self employed on psw and i intend to switch to Tier 1 G in few months, I am earning 2500 GBP approx every Month and i deposit all my money in to my business bank account, and end of the month i transfer 2k into my personal account which is after the business expenses, my question is, is this a right way to make things clear for claiming the points for earnings.? or i need to do it some other way. if i earn some more money during the time can i increase the personal bank transaction as well..? this is the question which i cant get answer from accountants or solicitors. I hope some one has the knowledge on this subject. please suggest me if u think i should do it some other way. thnx in advance.

1. Deposit only cheques , as far as minimum cash unless u r a retailer
2. u need to get accounts , transfer what u r doing is called withdrawal from business.

[MACY]

hi everyone,
I just want to clarify onething i am self employed on psw and i intend to switch to Tier 1 G in few months, I am earning 2500 GBP approx every Month and i deposit all my money in to my business bank account, and end of the month i transfer 2k into my personal account which is after the business expenses, my question is, is this a right way to make things clear for claiming the points for earnings.? or i need to do it some other way. if i earn some more money during the time can i increase the personal bank transaction as well..? this is the question which i cant get answer from accountants or solicitors. I hope some one has the knowledge on this subject. please suggest me if u think i should do it some other way. thnx in advance.

1. Deposit only cheques , as far as minimum cash unless u r a retailer
2. u need to get accounts , transfer what u r doing is called withdrawal from business.

thnx sushil for ur reply.. yes i am a retailer and i deposit cash.. could u plz clear wht do u mean by 2. u need to get accounts , transfer what u r doing is called withdrawal .. ? is there any other requirements i need to fulfill for claiming points end of the year.?. thnx in advance,

[Sushil-ACCA]

hi everyone,
I just want to clarify onething i am self employed on psw and i intend to switch to Tier 1 G in few months, I am earning 2500 GBP approx every Month and i deposit all my money in to my business bank account, and end of the month i transfer 2k into my personal account which is after the business expenses, my question is, is this a right way to make things clear for claiming the points for earnings.? or i need to do it some other way. if i earn some more money during the time can i increase the personal bank transaction as well..? this is the question which i cant get answer from accountants or solicitors. I hope some one has the knowledge on this subject. please suggest me if u think i should do it some other way. thnx in advance.

1. Deposit only cheques , as far as minimum cash unless u r a retailer
2. u need to get accounts , transfer what u r doing is called withdrawal from business.

thnx sushil for ur reply.. yes i am a retailer and i deposit cash.. could u plz clear wht do u mean by 2. u need to get accounts , transfer what u r doing is called withdrawal .. ? is there any other requirements i need to fulfill for claiming points end of the year.?. thnx in advance,

JUST GET ACCounts done from practicing accountant , get letter for sales and net income , u will be fine

[MACY]

JUST GET ACCounts done from practicing accountant , get letter for sales and net income , u will be fine

thnx bro its really helpful...