Limited Company/Business Banking

[Alan @ BroomeAffinity]

Look into NatWest - they offer a business bank account called Foundation IIRC, which is supposedly suited to those with less than stellar credit rating.

This is your best bet. RBS offer the same iirc.

CashPlus is expensive and it's a pita to use.

[Wijay@WISAccountancy]

Hi all,

I am about to start a new contract on a good day rate and having worked with an Umbrella company before I would rather go limited.

My issue is that my credit history has taken a hit over the last 6 months due to unemployment through travelling and a few issues with payments etc.

I would prefer to go limited but imagine I may struggle to get a business banking account due to the above.

Could anyone advise?

Many thanks,

Adam

Hi Adam. best to try cashplus as suggested. Once you build up your credit history you can always switch.

[kevpuk]

Look into NatWest - they offer a business bank account called Foundation IIRC, which is supposedly suited to those with less than stellar credit rating.

[VelcroPower]

If the worst comes to the worst you could always use Cash Plus

However, the charges are exorbitant, the bank statements are awful and it doesn't have a feed for FreeAgent (if you choose to use that).... but there's no hassles about credit worthiness.

My only other point would be if you're even the slightest bit not brilliant with cash then looking after the government's money and then sending them it once a quarter or 20 odd months after you start trading plus your personal tax then maybe Umbrella may be the best option.

[anthony]

Hi all,

I am about to start a new contract on a good day rate and having worked with an Umbrella company before I would rather go limited.

My issue is that my credit history has taken a hit over the last 6 months due to unemployment through travelling and a few issues with payments etc.

I would prefer to go limited but imagine I may struggle to get a business banking account due to the above.

Could anyone advise?

Many thanks,

Adam

My only advise would be to book a business appointment with the many banks around and have a chat with them. Maybe some will be able to offer certain elements but not all to a business bank account....

[adamocs]

Hi all,

I am about to start a new contract on a good day rate and having worked with an Umbrella company before I would rather go limited.

My issue is that my credit history has taken a hit over the last 6 months due to unemployment through travelling and a few issues with payments etc.

I would prefer to go limited but imagine I may struggle to get a business banking account due to the above.

Could anyone advise?

Many thanks,

Adam