All you freelancers out there-do you have a separate bank account

[bigspender30]

for all things work related?

Scatter... it's a legal requirement of a limited company, and the directors could be discharged (and sued) for not doing their job properly.

You certainly wouldn't find a firm of accountants or solicitors to act for you in any respect without having a company bank account.

BTW we have a ltd co, and our bank charges are fixed at £2.50 per month, so it isn't a fortune (if you negotiate hard)

If you're a sole-trader then you absolutely don't need a separate bank account. Both dh and I were sole-traders (he still is, but I'm a SAHM atm) and we only ever had our regular joint account, into which we both paid our income and withdrew whatever we needed for expenses. We were then able to move chunks of money across to our flexible mortgage as we chose, withdrawing it again twice a year when we had to pay the taxman. In the meantime we saved thousands in mortgage interest!

Yes that is fine, and you could do just the same if you had a seperate account. Nothing stopping you moving money in and out as you like, it's just easier to follow if it's a seperate account.

One of my clients buys premium bonds with the money he puts aside for the tax man, and picks up the odd £50 or £100 tax free prize along the way.

One of the reasons I find a separate account useful is because I have to buy a lot of materials - it's easier to keep that expenditure separate from our family outgoings, and also conversley to make sure I am covering my work expenses.

I think it depends very much upon the nature of your work.