I'm from the UK and this year registered as a sole trader. So at the end of the year I will have to pay tax on my earnings over a certain figure. How do control your money for paying your tax bill at the end of the year? Do you open a new bank account and take 20% of every payment you receive and transfer that 20% into the account? This way all the money in this new account can be used to pay the tax bill at the end of the year. I don't want to get to April and not have the money...?