Tax Pots
Choose a percentage of your income to automatically set aside for tax, every time you’re paid. Available on Monzo Business Pro.
Choose a percentage to set aside
Every time you’re paid, we’ll move the money into your Tax Pot automatically for you.
Separate your money
Set money aside from your balance for things like overheads, budgets or other business costs – instead of opening a new bank account every time.
Get peace of mind
No more worrying if you've forgotten to save for your tax bill, and no more shifting around between accounts to see where your money is.
"My Tax Pot has saved me so much time. It's literally like magic."
Anna uses Tax Pots to:
- Automatically save 20% of her income whenever she's paid
- Separate her tax from her other money
- Stop worrying if she's forgotten to save for her tax bill
Creating a Tax Pot
Choose what percentage of your income you want to set aside. If you have instant notifications turned on, we’ll let you know every time you’re paid, and how much we’ve automatically put in your Tax Pot.
Move money in and out, change what percentage you set aside, or close your Tax Pot any time.
"Creating Pots is quite easy. The key one is tax. Now I can keep track of how much I have to spend, and how much I have to keep separate."
Ralph uses Tax Pots to:
- Separate his money easily, all in one account
- Automate some of his financial admin
- Keep track of what he can spend, and what he needs to keep for later
Your questions, answered
Easy to manage
You can have 1 Tax Pot at a time. But you can create other regular Pots in your account to separate out money, for things like expenses or overheads.
Somewhere to store, not spend
The money in your Tax Pot won't be part of your available balance, but you can move money in and out any time.
We don't offer tax advice
The amount you set aside is up to you. We can't guarantee that this is the right amount to cover your tax bill.
