Tradespeople (Plumbers, Electricians) + Debt Management: The Challenge
As tradesperson, preparing bank statements for debt management is a common but time-consuming task. Debt management advisors and IVA supervisors need detailed analysis of a debtor's bank statements to assess income, essential spending, and disposable income.
How BankScan AI Helps Tradespeople (Plumbers, Electricians) with Debt Management
Convert your bank statements to Excel to track job payments, match material purchases, and get your books ready for self-assessment without hours of data entry. For debt management specifically, BankScan AI extracts Net income from all sources, essential living costs (housing, utilities, food, t automatically.
How Tradespeople (Plumbers, Electricians) Handle Debt Management
When preparing bank statements for debt management, tradespeople (plumbers, electricians) need to Tradespeople receive customer payments via bank transfer, cash, or card, purchase materials from builders' merchants and wholesalers, pay for van fuel. BankScan AI automates the data extraction step.
Key terms you'll encounter: day rate, materials markup, call-out charge, retention.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload 3-6 months of recent statements to establish a reliable income and expenditure pattern for the proposal of statements for debt management.
AI extracts what you need
Our AI extracts Net income from all sources, essential living costs (housing — formatted for tradespeople (plumbers, electricians) workflows.
Complete your debt management work
Download Excel files ready for debt management. Income and expenditure categorised according to the Standard Financial Statement (SFS) format used across the UK debt advice sector
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Tradespeople (Plumbers, Electricians) — Debt Management
- Built for Tradespeople (Plumbers, Electricians) — Saves 2-3 hours per month on expense categorisation and receipt matching, with year-end self-assessment preparation reduced from a full day to under 2 hours
- Software compatible — Output works directly with QuickBooks Self-Employed, FreeAgent, Excel
- Built for Debt Management — Convert bank statements to Excel to quickly categorise income and expenditure, calculate disposable income, and prepare debt management or IVA proposals.
- Key data extracted — Net income from all sources, essential living costs (housing, utilities, food, transport), non-essential spending to reduce, existing debt repayments, disposable income calculation
Compliance: Tradespeople (Plumbers, Electricians) + Debt Management
When tradespeople (plumbers, electricians) prepare bank statements for debt management, specific compliance requirements apply.
- Self-employed tradespeople must register with HMRC and file self-assessment returns. CIS applies if working as a subcontractor in construction. Gas Safe registration (gas engineers), NICEIC/NAPIT (electricians), and other trade body memberships have costs that must be tracked. VAT registration is required above the threshold.
- Legal basis: Insolvency Act 1986 Part VIII (Individual Voluntary Arrangements); FCA CONC 8 (debt counselling, debt adjusting, and debt administration)
Debt Management — Built for Tradespeople (Plumbers, Electricians)
IVA proposals must be sent to creditors within 14 days of the nominee's report; debt management plans need quick setup to stop creditor action and interest accrual
Try Free — Tradespeople (Plumbers, Electricians) + Debt Management