Limited Company Bank Account

If you’ve just set up your Limited Company then one of the first things you need to do is open a Company bank account.

If you’ve just set up your limited company then one of the first things you need to do is open a limited company bank account. As a limited company is a separate legal entity to you, you can not use your own personal current account to pay in money from clients and customers.

Along with your business current account for every day trading we also advise that you should set-up a business savings account for putting your tax savings to one side each month.This means you have the money to pay your tax liability when it becomes due – less stress than having to find it at short notice. It also means you can earn interest on your tax money for the entire time before it needs to be paid to HMRC.

Our bookkeeping system tells you exactly how much Corporation Tax and VAT (if your business is registered) you will owe for each month, so at the end of the month you know how much to transfer to your business savings account.

For further help, or to enquire about joining our services, please call us on 0845 834 0264 or drop us an email at info@cmjaccountancy.co.uk.

Disclaimer

This information is for general information only. We take no responsibility for any action taken or refrained from in consequence of its contents. Always seek our professional advice specific to your circumstances before acting.