Suggestion to make pots work better for the self-employed


(Buddha) #1

Apologies if this idea has been posted somehwere before! As a self employed person the pots are a super handy tool for me to seperate my money and manage how I pay my monthly bills ect. I run an airbnb business so all my income comes through PayPal. One thing that would be massively useful to me would be if I could take a percentage of all incoming payments from PayPal and have that go straight into a pot. So like 30% of all PayPal transactions automatically get put into a pot. This would be a huge help for seperating money I need to pay for taxes, bills ect ect and leave me with just fluid money in my main account. Would this be useful to anyone else?


IDEA for Business account
((╯°□°)╯︵ ┻━┻) #2

You could probably achieve this with IFTTT.

Also… Monzo are looking at offering business accounts soon, so are asking for feedback. I’d recommend that you suggest it in here :slight_smile:


(Buddha) #3

Unfortunately I’ve tried with ifttt it doesn’t seem posible. Thanks for the suggestion! Ill mention it in the other forum too. Thanks


#4

I am hoping Monzo release triggers on ifttt for incoming transactions so I can put a percentage into a tax pot for my tax return. Doing it manually isn’t so bad but it’d be nice to have it automatically applied.


((╯°□°)╯︵ ┻━┻) #5

Any new triggers would be amazing, don’t think it has been revised since it was launched :cry:


(Kiren Anandji) #6

I am aware that Monzo are working on developing business accounts. An idea I would like to suggest is something that would allow a business to pay into a pot that counts towards there tax depending on how much they make. So for for small business and those who are self employed are able to pay into a pot which would prevent them from spending anything that is for taxes. And then a direct link to paying taxes with that pot when it is time for tax returns .


((╯°□°)╯︵ ┻━┻) #7

You’ve posted your suggestion in the wrong topic. The one that Monzo are collating and discussing feedback in is this one :slight_smile: