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Dardee
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Stacey, post: 24987 wrote:
Next stop, an accountant to work out the most effective way to manage money for tax!

For tax time, is an invoice sufficient (I have a list of paid invoices on a spreadsheet), or do I need to show where we hae spent the money out of the bank account?

Stacey

You need to account for ALL transactions in and out of the bank account, even if they are personal. I would suggest speaking to an accountant so they can explain what records are required to be kept to satisfy Mr Taxman.