Fastest route to new Limited Company with an operational current account.

[struckOff]

Is your name a clue? If you have bad credit history then you may have an issue with most banks.

Good point, just checked my credit score online, 999 @ Experian :-)

I should have used the username "dissolution". I forgot to file accounts in my first non trading year, ignored the letters, now I have £15k frozen and out of reach for a month or two due to an involuntary dissolution that will be tedious and expensive to reverse.

[SueEllen]

Good point, just checked my credit score online, 999 @ Experian :-)

Doesn't mean as much as you think it does as banks have their own internal way of rating customers.

Though in theory if you can get a credit card with ease you shouldn't have a problem opening a bank account. However someone did complain their local HSBC refused to open an account for them as they didn't want another contracting business.

[Old Greg]

When I started 5 years ago, I used SJD. Phoned them on the Friday to start trading on the Monday. They set up the company and a bank account with Cater Allen. It wasn't the cheapest way to do it, but I had 20 minutes free, to sit in the car park sneaking out of my permie job.

Nor are they the cheapest accountant but they are good.

[Clare@InTouch]

Good point, just checked my credit score online, 999 @ Experian :-)

I should have used the username "dissolution". I forgot to file accounts in my first non trading year, ignored the letters, now I have £15k frozen and out of reach for a month or two due to an involuntary dissolution that will be tedious and expensive to reverse.

Just to pick up on this point, if you are able to go for the Administrative Restoration route then getting the company restored, and thus the bank account open again, shouldn't be expensive or too long of a process. Companies House charge £100, and any decent accountant should be able to offer advice for a reasonable fee.

Administrative Restoration

[Rabotnik]

Started my application to Cater Allen through Nixon Williams nearly a month ago and still haven't got my account opened. Should have just gone to my local branch, but thought it was easier to let the accountant handle it. Haven't been able to invoice now for 2 weeks

[struckOff]

.... Administrative Restoration route then getting the company restored, and thus the bank account open again, shouldn't be expensive or too long of a process. Companies House charge £100, and any decent accountant should be able to offer advice for a reasonable fee.[/url]

Interesting... last Wednesday on the phone Companies House stated they wanted an additional £1,500 in late filing penalty charges paid upfront before they would commence the Restoration. Would an accountant know how to side-step this?

[Clare@InTouch]

Interesting... last Wednesday on the phone Companies House stated they wanted an additional £1,500 in late filing penalty charges paid upfront before they would commence the Restoration. Would an accountant know how to side-step this?

Ah, didn't realise you had late accounts. You'd have to pay any penalties and file the outstanding accounts in that case, even with this type of restoration.