Keep tax money in a separate account.

The idea in practice.

We’re designing a Tax account for money your business chooses to keep for upcoming tax bills.

An account, not just a label

The proposed journey moves money into a separate account. An earmark is different: it labels money that stays in the operating account.

You decide what to put aside

Use your own records or your accountant’s advice to decide the amount. The design does not calculate your liability or pay HMRC automatically. Product terms and the account structure remain under development.

Ask about the Tax account

Organise money for an obligation you identify.

The proposed Tax account gives money set aside for tax a separate balance and history. A meaningful name can help the team understand its purpose and distinguish it from everyday spending.

Choosing an amount remains your responsibility, using the records and advice appropriate to your business. The proposed Tax account is an organisational tool; it does not calculate a tax liability, file a return or decide when a payment is due.

An account and an earmark are different.

A transfer to a separate Tax account moves the example money from one account balance to another. A budgeting earmark only labels money that stays in the original account. Both can support planning, but they should never be described as the same action.

A separate displayed balance also does not establish any legal restriction, protection or automatic payment arrangement. The account structure and provider service remain proposals.

Keep each movement deliberate.

Review the source, destination and amount before submitting a transfer. Follow its status to a confirmed result, then find the entry in both accounts. Moving the money back follows the same sequence.

No automatic sweep or payment to HMRC is offered today. Read how the transfer journey works for the proposed steps.