Do I need a special LLP bank account ?

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I currently have a bank account for an 'ordinary partnership'. I am about to change the partnership to an LLP. The name of the partnership won't change, except for the addition of the LLP suffix.

Would I need to open a new bank account for the LLP or can I use the same account?

a year ago

Answers

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You are setting up a new legal entity so you will have to change your bank account details to correlate with that. You cannot simply continue using your current bank account as it is. The bank may allow you to change the legal structure and registered name on the bank account, thus allowing you to retain the same one, but that's not a guarantee - it's depends on the bank regulations, so I would suggest making an appointment at your nearest branch or calling the business banking team as soon as possible to discuss.

a year ago
 

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