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business bank account

(7 Posts)
freelancenewbie Thu 13-Mar-14 14:23:36

Just been debited for bank charges now that my business a/c is over 12 months old. So I'm guessing I just have to factor in monthly bank charges now - is that right - does your business get charged just for having a bank account?

whattodoforthebest2 Thu 13-Mar-14 14:26:14

Yes, unfortunately. Its not much but still galling since I tend to have a relatively high balance from one month to the next. I think most banks charge now - it used to be worth haggling but I suspect they won't budge.

freelancenewbie Thu 13-Mar-14 16:31:34

thanks for that, have just rang bank and managed to move to a cheaper tariff so that's good. Crikey - charges for this, charges for's annoying! Oh well, guess it's just part of it all.

whatdoesittake48 Fri 14-Mar-14 10:40:49

I use my current account...the bank haven't questioned it. No interest - but no charges either.

TalkinPeace Fri 14-Mar-14 20:49:16

my company account is an FSB co op one
DHs company is with Santander
both free banking

when we were sole traders we just used our personal (joint) account

morethanpotatoprints Fri 14-Mar-14 20:55:41

It can be a huge hassle if HMRC ever want to check so even as sole trader you need to have a separate account.
Our company accounts are FSB co op too.

TalkinPeace Fri 14-Mar-14 21:01:56

so even as sole trader you need to have a separate account.
not really
so long as the records are clear they do not really care

I've been through several HMRC sole trader inspections

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