Business Savings Account

[ittony]

It's October 2022. Inflation is 10%, base rates are 2.25%, mortgages 6.5%, personal accounts are offering instant access savings at 2.75%....

...are there any advances on 1.5% for businesses yet?

[jamesbrown]

Yes, 2% with the bank you were struggling with above.

[ittony]

How about banks that don't bar companies which have earned interest elsewhere?

[jamesbrown]

How about banks that don't bar companies which have earned interest elsewhere?

They don't, obviously.

[ittony]

Maybe they don't, but they quite unambiguously say they do - and that's pretty off-putting.

[jamesbrown]

Anyway, this is something you can check yourself.

I use this for business savings tables:

https://moneyfacts.co.uk/business/bu...ings-accounts/

When selecting a type, uncheck the box "show quick links first" (top right), which is basically the subset they're promoting for a fee.

[dl8860]

I imagine this might become more of a topic as rates continue to rise.

Would any interest earned on a balance count as revenue for the LTD and just get tax at the corp tax rate?

[jamesbrown]

I imagine this might become more of a topic as rates continue to rise.

Would any interest earned on a balance count as revenue for the LTD and just get tax at the corp tax rate?

Yes.

[PerfectStorm]

Aldermore now doing 2% easy access.
An easy £141 a month for anyone depositing up to the FSCS protection limit

[ensignia]

Aldermore now doing 2% easy access.
An easy £141 a month for anyone depositing up to the FSCS protection limit

That's not bad. 2.5% for the fixed term one as well. I have a rather large surplus in the company coffers and am tempted to bung a load in although that FSCS hard-stop always makes me nervous...