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Hi
I organise a Monday football game and want to make payments easier to manage. If I use one of my savings account to allow my pals to bank transfer into it will I run into any difficulties with the Inland Revenue ?
£70 going in per week totalling £3500. Payments coming out at £140 per month leaving about £1800 for a night out at the end of the year that I withdraw and we spend
Worried if I get future queries on my tax returns I will have to produce audit trails and it will be a big hassle for me
Do I leave as cash only or move to automated payments ? Any thoughts welcome
Cheers
It'll be fine, me n a few others used to do similar, use PayPal gift.