business bank account

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Yeah I have a suggestion dont get one.

They charge you, just use a normal bank acount with no charges.
 
have been told to get one in company name so if there was ever a tax investigation they can't touch personal finances. seems worth it to me!
just confused as to which one to get...
 
RMK said:
have been told to get one in company name so if there was ever a tax investigation they can't touch personal finances. seems worth it to me!
just confused as to which one to get...
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Who told you that pile of shight?
 
Johnathon said:
You have to have one, Im with Lloyds the first 18 months you get free
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I have traded with a joint bank account with the misses for years shes a teacher, ie no interest in the comapny.

Apart from banks who says you have to have one?
 
Sounds like scare mongering to me. Why not use a normal account unless your earning mega bucks?
Mate if they think youve fiddled them (tax) they'll take what they want regardless. Best to be completely above board.
 
RMK said:
accountant mate. obviously not a pile of (german word)e! ::)
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Yes it is!

If the tax man choose they can access any of your acounts they want, includeing your kids.
 
great!
i ask for some advice about business banking and someone kicks up a fuss.
some people!
 
RMK said:
great!
i ask for some advice about business banking and someone kicks up a fuss.
some people!
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No one is kicking up a fus I'm trying to help you save money mate.

They have a monthly charge, and also often ,charge to cash cheques and write cheques etc.

A mate of mine was untill recently paying 60 a month on his account in charges.

He asked me what I did and I said I just used a normal bank acount.
 
Ive got a business account with HSBC had 18 months free...wonder why I bothered though cause speaking to others they have personal accounts no charges...there accountants haven't said anything so gonig to speak to my soon see what the score is
 
thing is i think there all pretty much the same ..down to personal choice like closest to you some give a little here but then take it there...if you do find one what provides extras like good looking bird to sort out account on a monthly basis possibly with a coffee and a cream cake post it on here and iam sure theyll pick up a lot of trade
 
my mates just text me back and said you only need a business bank account if you are a ltd company.
 
steve cov said:
my mates just text me back and said you only need a business bank account if you are a ltd company.
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That makes some sense.

Theres probably a way around it though :)
 
I dont use an accountant as do the books myself, use the blue book (The Best Small Business Accounts Book by Hingston Publishing Co) really straight forward to use but would be a nightmare if I was putting everything through my current account.
 
Your local MP would be the person to ask, make an appointment at their surgery and ask how they fiddle it! Good point in seriousness Jonathon.
 
Johnathon said:
I dont use an accountant as do the books myself, use the blue book (The Best Small Business Accounts Book by Hingston Publishing Co) really straight forward to use but would be a nightmare if I was putting everything through my current account.
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So do you just use a separate account.
 
McPlaster said:
Your local MP would be the person to ask, make an appointment at their surgery and ask how they fiddle it! Good point in seriousness Jonathon.
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Mines one of the four they have decided to prosecute.......................I'm so happy.
 
i thought it was against the law to put business money in a personal account...
something to do with tax fiddling etc?
dont you have to have a business account even as a sole trader e.g. chris wilson trading as cw plastering services
 
ill recommend norwich and peterborough.. that where all my accounts are and theyre great, really helpful and low charges...
the missus and kids have natwest accounts and theyre always getting charged for something stupid, then recharged for not paying the last charge...
theyre a bunch of cnuts...
 
The blue book is really good to use WH smith sell them thou there are other ones, once you get the hang of them its simple, just keep all your receipts in a file and fill out the book on a weekly basis
 
I never had a buisness account until I went limited in 1999,
then a few years later I went on the books with a firm for a while hated it so went back as a subbie but never bothered going ltd again that was about 6 years ago since then just had personal accounts.
Tsb kept phoning me & pestering me for about 6 months a couple of years back saying I should have a buisness account because I receive cheques from more than 1 person.
But i said look I don't want a buisness account! & they kept on & on phoning me sending letters arranging appointments for me to have a chat & sort it out, so I started ignoring their calls, never went to arranged meetings & in the end i said I'm gonna move to another bank.
Funny they haven't pestered me since! Or mentioned it!
Load of (german word)!!

If you don't want to open a buisness account the answer is simple DONT!
They can't make you & if your not happy with your bank just move ;)
 
nelly said:
RMK said:
have been told to get one in company name so if there was ever a tax investigation they can't touch personal finances. seems worth it to me!
just confused as to which one to get...
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Who told you that pile of shight?
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nellys right... u dont need 1, my accountant told me not to open 1,, i went for years with out 1 until my bank called me in and made me open 1(robbing bastards) i just couldnt say no, for some reason.
 
skyzoo youre back! ;D
thought we'd lost you for a while!

anyway, i was told it was actually illegal to put business proceeds through a personal account, is this not the case then?
 
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