A tax pot is a secure digital space inside your business account designed to help you save for your upcoming tax bills. By setting aside a portion of your income as you earn it, you can ensure you always have enough tucked away for HMRC. The money in your tax pot remains part of your overall business account balance and does not earn interest. 🍯
How your tax pot works
You can set up and manage your tax pot directly in the app. It acts as a helpful visual compartment for your money, making it much easier to keep your tax savings completely separate from your day-to-day business spending.
The app allows you to move funds back and forth between your main account balance and your tax pot whenever you need to. This flexibility means you can easily top up your savings during a profitable month, or pull funds back out if your business faces an unexpected running cost. 🔁
⚠️ Important: You are entirely responsible for calculating your exact tax contributions, keeping accurate financial records, and paying HMRC on time. While the app provides a secure space to help you save, we don't track your specific tax deadlines or make your tax payments on your behalf.