Self Employed people are required to keep accurate records of their business income and expenses. Simply keeping bank statements is not sufficient.
This is in no way comprehensive advice, but just a starting point. You will need to do the following:
- Keep bank statements for your business accounts
- Issue sales invoices to each customer
- Keep all purchase reciepts for expenses (IE: cleaning products, domain names, ETC).
- You will also need to keep detailed accounts of incoming and outgoings.
- In addition to this, you will wish to keep accurate transport logs (milage travelled for business reasons).