If you are the Director of a registered business, whether by yourself, or in a partnership, you may pay yourself from the company in order to meet your day-to-day living costs. These are called "Director's Drawings"; they are taxed as income and should not be deducted as a business expense. 

You can operate as one of the following and take Director's Drawings: 

Director of a registered business: With Hnry, you can have all your Director's Drawings paid into your Hnry Account, and we'll take care of all your personal taxes and compliance on your behalf. We don't contribute to or file taxes on behalf of your business though (but you may want to contact one of our Accounting Partners to have this done?)

Director of a Partnership: If you operate as a partnership, you'll most likely split the Drawings you take among partners. With Hnry, you can have your share of the Director's Drawings paid into your Hnry account, and we'll take care of all your personal taxes and compliance on your behalf.

If you are the Director of a business, and you would like to use Hnry to process all your personal taxes, you can have your Director's Drawings paid directly into your Hnry Bank Account. All you'll need to do is to add that business to Hnry as a Client, and make sure you check the flag on the Clients page that says "This Client pays Director's Drawings..."


N.B. You do not have to be registered as a business, or be the Director or a registered business in order to earn income independently - see our article here for more information.



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