Using my bank for business

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BECKY

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Post by BECKY » Sun Aug 12, 2007 7:26 pm
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I have been using my account to buy stuff for my business as it is linked to my paypal account for online buying.Im worried now that when my ip does my review theyll think im taking home more than i am as i put the money in my account from my business to cover the purchases. Will I have a problem come review time? should i keep notes with my bank statements to explain the transactions?
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MelanieGiles

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Post by MelanieGiles » Sun Aug 12, 2007 7:27 pm
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Your IP should have no problem with this Becky, but make sure that your accountant is given all of these details when he/she prepares your end of year accounts.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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BECKY

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Post by BECKY » Sun Aug 12, 2007 7:37 pm
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Thanks Melanie,I keep all receipts for my accountant i was just worried cos it looks like theres more money going into my account than should be.
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