Bank account setup

Hi Dave

You will have no problem running your business through your bank account - Saying that it is best to split them. Open a No 2 Account in your name. I did that years ago. The problem with running business transactions through your private account it becomes hard for some people to work out how much they have in the business pot. You have to be very good at keeping records.

When you give your records to an accountant he will have to trawl through private transactions to find business ones.

In Summary go for a No 2 Account in your name. If you trade as a business name some printed on the cheque some banks want to charge for the business account - as you mention.

Hope this helps

Their are still some Free bank accounts out there you just have to look around, You do have to be careful using personal account for business, Some banks monitor how frequent your transactions are, and the value of some transactions.

Many thanks for the info, i have an old current account i can use which i can easily follow transactions etc.



tar Dave