Originally posted by WTFH
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Business Bank Account - Registering without a UK address
Collapse
X
-
Originally posted by VectraMan View PostYou can use an accountant for registered office, but the bank will want to know your real address.Leave a comment:
-
Based on Confounded's last reply, I think he may have left the building because we dared to ask for a bit of information rather than just telling him what he wanted to hear.Leave a comment:
-
Originally posted by borderreiver View PostHave I missed something here? If you've got a UK Ltd then you must have a Registered Office in the UK ... and hence a UK address for the company. Why can't you give the bank that?Leave a comment:
-
Originally posted by Confounded View PostHowever, we cannot open a UK bank account as we are not based in the UK and I am only going to be in the UK few days per week so will be staying in hotels/private rooms which means that we will not have a UK address which banks as for.Leave a comment:
-
Originally posted by Confounded View PostAnd if there is no such requirement, then it's not a gamble and hence is the question.
It's a gamble whether advice received here, for free, can be relied upon - especially without more context.
I have no idea whether a UK bank account is a requirement. But personally I would not contemplate going legal if the client has offered to pay, in the absence of a written contract to MyCo that stated otherwise.
The questions are so that people can offer pragmatic advice.Leave a comment:
-
Thanks to all of you for taking time to reply to my messages. I apologise if they have caused any frustration . All the best.Leave a comment:
-
Originally posted by Confounded View PostA "straight answer" was not given because the question was irrelevant to the issue at hand. Whether it is client or agency, the question is about a legal requirement to have a bank account for a company. And if there is no such requirement, then it's not a gamble and hence is the question.
If your contract is technically with an agency, then I'll assume that means: the contract is with the agency. Therefore the agency pays you. It will be them and their AML rules that determine what problems you may encounter.
The impression you give is you are trying to hide the complication, hoping you can trap people into doing something they didn't foresee. England has a very robust legal environment but lawyers cost a lot of money and nobody like frivolous actions so I would talk to the agency and ask them what they normally do in these circumstances. It must happen all the time.Leave a comment:
-
Originally posted by Confounded View PostA "straight answer" was not given because the question was irrelevant to the issue at hand. Whether it is client or agency, the question is about a legal requirement to have a bank account for a company.
And if there is no such requirement, then it's not a gamble and hence is the question.
I've been direct with clients and through agencies.
While you will find both agencies and clients who are actually located abroad only the agency has to have a UK registered office to deal with UK contracts. So while the direct client can be flexible on how they pay you, an agency won't be as they have more legislation they have to comply with to stay in business doing their primary function. This means some direct clients aren't bothered if you turn around and say I have to do this work as a sole trader and will actually offer you more ways ways to do the contract than an agency.
In regards to paying you some agencies actually check the bank account they paying money to is in the name of the business fully, others just check sort codes to see that it's a business branch while others don't bother at all. Direct clients are a payment law onto themselves.
And no legally a business does not have to have a separate business bank account because you and your business could be legally indistinguishable from one another. However if a bank noticed transactions going through a personal account that look "odd" they would think you are money laundering so would freeze the account. You only need to make one "odd" payment to trigger this.Leave a comment:
-
I think the questions were very relevant.
Why do you think you need to set up a UK Ltd Co for this work?
Have you done the work already (your replies almost seem to imply you have)?
Is the agent based in the UK or not?
Is the end client based in the UK or not?Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: