Originally posted by platforminc
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Previously on "RBS business account linked to Offset Flex personal mortgage?"
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NLUK
You are clearly not doing your job properly, have you used the search button on this forum ???
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Originally posted by psychocandy View PostBe interested to see how this goes.....
But I do wonder what HMRC would think of it all. Regardless of whether money is moving from A to B, personally, you are still getting a benefit out of the deal surely?
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Be interested to see how this goes.....
But I do wonder what HMRC would think of it all. Regardless of whether money is moving from A to B, personally, you are still getting a benefit out of the deal surely?
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Originally posted by kaiser78 View PostWasn't aware RBS have any offset offers at the moment ?
Barclays seem best for offset mortgages (IMO) as you can also include your cash ISA accounts for offsetting as well as the standard savings pot.
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Wasn't aware RBS have any offset offers at the moment ?
Barclays seem best for offset mortgages (IMO) as you can also include your cash ISA accounts for offsetting as well as the standard savings pot.
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Its not like the first sentence of what you posted kinda gives it away
Your business
You need to be in business as a sole trader or simple partnership.
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Originally posted by eek View PostOffset accounts need to all be in with the same name. It may be doable via a deed of trust (the argument is that the offsetting of loans if the bank went belly up is better than the government £85k guarantee) however it needs to be setup 100% right and the HMRC recently won a case on it a couple of months back due to account the money was in (the person doing it did sound like a muppet however).
If RBS allows separate accounts to be used for the offset that would resolve the issue HMRC had with kermit but I wouldn't think its worth the risk.
Back in 2009 though I would have considered due to the risk of bank collapse. Nowadays I doubt its worth the HMRC risk.
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Originally posted by jmo21 View PostIt's even in the RBS quote in your OP
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Originally posted by northernladuk View PostDammit. You are quite correct Mr.Whippy. I assumed they had missed us off or something but just asked them this question and they will not take LTD's. Interestingly the guy explained it isn't anything to do with the bank and it's products. They can't offer this type of set up due to problems getting it past HMRC.
Bolshie mentioned something in a thread a few mins ago so just gonna see what his set up is but apart from that it's back to the drawing board I guess.
You need to be in business as a sole trader or simple partnership.
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Originally posted by northernladuk View PostDammit. You are quite correct Mr.Whippy. I assumed they had missed us off or something but just asked them this question and they will not take LTD's. Interestingly the guy explained it isn't anything to do with the bank and it's products. They can't offer this type of set up due to problems getting it past HMRC.
Bolshie mentioned something in a thread a few mins ago so just gonna see what his set up is but apart from that it's back to the drawing board I guess.
If RBS allows separate accounts to be used for the offset that would resolve the issue HMRC had with kermit but I wouldn't think its worth the risk.
Back in 2009 though I would have considered due to the risk of bank collapse. Nowadays I doubt its worth the HMRC risk.
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Originally posted by Mr.Whippy View PostThink this is only valid for sole traders or simple partnerships. I had a look into this with Clydsedale but not sure it's valid for Ltd Co's.
Bolshie mentioned something in a thread a few mins ago so just gonna see what his set up is but apart from that it's back to the drawing board I guess.
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Think this is only valid for sole traders or simple partnerships. I had a look into this with Clydsedale but not sure it's valid for Ltd Co's.
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