Do I need to open a business bank account at the time of incorporation?

0

Hi, do I need to open a business bank account for my company as soon as it is registered? I was planning on sitting on it for a while, to be honest.

Answers

0

No - you don’t need to open a business bank account for your company as soon as it’s incorporated, so you can hold off for as long as you like. There’s actually no legal requirement to open a business account at all, but I would always advise doing so once you start trading - it will be a bit of a nightmare trying to work out your account and tax returns if you use a personal account rather than a dedicated business account.

a year ago
 

Your answer

 

Browse other questions tagged #bank-account #business-bank-account or Ask a new question