02/09/2026
The biggest lesson I could give you when running your own business?
Don’t mix personal with business.
It gets messy.
Many times I have taken hours tidying up and sorting books because items have been coded incorrectly as a business expense, when it is personal, or a drawing.
It doesn’t just affect your businesses numbers, but it also affects your tax! You take those numbers at face value and put them in your tax return, usually resulting in an underpayment of tax.
And then you pay an arm and a leg to get it fixed, and find out you need to find an extra £x in tax to pay.
It’s messy.
Don’t do it.
End of lesson.