Urgent - Can anyone recommend a bank and an accountant?

[fitzroy20]

Hi,

Can you help?

I am new to contracting and seek recommendations for a good free business bank and also a reputable accountant who understands IT Contracting/Freelance.

I need to set up the bank account ASAP and would rather not make a bogus decision.

Thanks,

Fitz.

[Underscore]

Carter Allen for bank

and SJD for accountant. SJD will setup the bank etc.

[fiddleabout]

Several accountants advertise on here including myself as an agent for an accountant. All are reputable and certainly mine will set up a free bank account for you.

Mine can be found through the ************ link at the top of the page.
SJD probably have a link on the main site
Darren Upton posts in here under his company name which is something or other accountancy services - it'll be obvious when you see it (sorry Darren I must admit I can't remember it exactly)

I'd suggest you read up on what all offer then select the one that suits you best. Naturally I hope that is mine but wish you all the best even if it isn't.

[silicondale]

Business bank

Alliance & Leicester. Free banking, plus a decent rate of interest on the savings account that you'll need for putting away all the money you have to earmark for tax. I've just switched to A&L from HSBC and will save about £70 in charges as well as earn a few bob extra in interest.

[Darren at 1st Accountancy Serv Ltd]

Accountants

Darren Upton posts in here under his company name which is something or other accountancy services - it'll be obvious when you see it (sorry Darren I must admit I can't remember it exactly)

Fiddle.....nice to see made a lasting impression! :lol

[malvolio]

HSBC Costs?

silicondale...

One of us is doing it wrong - my HSBC charges (about £150 pa) are covered by the interest payments they give me each month. Do (did) you use Internet Banking, and the Debit Card for business expenses?

[Darren at 1st Accountancy Serv Ltd]

Bank Accounts

Malvolio....A&L don't have bank charges providing you meet their criteria for number of transactions, etc. Which means you get all the interest.

[silicondale]

HSBC charges

Malvolio -

Yes, I did get a little interest from HSBC but the rate was much lower than I could get elsewhere, so I transferred as much as I could out of the company current account, as soon as possible (usually via salary or dividend payments into a personal account). One of the reasons for switching to A&L was the better interest rates on deposit/savings accounts for the tax money that had to stay in the company. And as Darren quite rightly says, since A&L don't charge, you get to keep ALL the interest there !

[malvolio]

OK, fair enough

I'm clearly having a Monday moment... :b

However, for £150 a year, I'll stick with the devil I know for a while longer...

[fiddleabout]

Re: OK, fair enough

> plus a decent rate of interest on the savings account that you'll need for putting away all the money you have to earmark for tax

I've used a bank that gave you 2 accounts - 1 without interest and a chequebook and one with interest but no chequebook - it's a PITA constantly moving money around to cover cheques and remembering to transfer income into the "savings account". You're bound to forget sometimes and lose out on the interest.

Cater Allen do a single account that pays interest - so do others. I make about £750 a year interest courtesy of money owed to Gordon Brown plus a bit I leave in anyway.