Where do I need to register a business bank account?

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Evening - we have just opened a new business bank account. I assume we need to register it with HMRC. Do you know where we would do such a thing.

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Your business bank account details will need to be registered with HMRC for tax payments and payroll, as well as with any service providers that take regular, automatic payments from your company - for example, suppliers, manufacturers, internet and phone providers, utility companies, etc.

If you will be setting up an online payment system to enable customers to buy your products via the internet, you will also have to register your bank details with Paypal or any other payment system you plan to use, such as Sage Pay, Stripe, Worldpay, etc. This will link the payment system to your business bank account and allow payments and refunds to be processed to and from your account.

You can register your bank details with the different HMRC departments when you register your company for Corporation Tax, VAT and PAYE. You can then manage your account details online.

a year ago
 

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