Reply to: How Much Do You Keep In Your Co Bank Accounts

[Archangel]

I don't think the 35K protection scheme applies to Ltd Co bank accounts.

Got plenty in mine mainly due to laziness, just realised I haven't paid myself any salary for over a year ! I'm having an end of year clear out and cheque writing session as we speak.

I am almost sure it does for "small companies", I'll try to find a link.

edit - it says "The Scheme was set up mainly to assist private individuals, although smaller businesses are also covered." and
"Larger businesses are generally excluded, although there are some exceptions to this for deposit and insurance claims. "

see here (if you are having trouble getting to sleep):

http://www.fscs.org.uk/consumer/key_...of_the_scheme/

A "small company" is one with a turnover < £2.8m and
a balance sheet total of < £1,4m and < 50 employees

HTH

[Cyberman]

Don't keep more than £35k in one bank in case it goes bust!

I was about to make exactly the same point until I realised that there is at least one other sensible person on here. In the current climate of unknown/hidden liabilities of SIVs/CDOs etc., any bank could go bust.

[KathyWoolfe]

It is a slow morning here...

It's always a slow morning here......plus the fact that no-one seems to be posting much

[Xenophon]

Really???

It is a slow morning here...

[rootsnall]

Don't keep more than £35k in one bank in case it goes bust!

I don't think the 35K protection scheme applies to Ltd Co bank accounts.

Got plenty in mine mainly due to laziness, just realised I haven't paid myself any salary for over a year ! I'm having an end of year clear out and cheque writing session as we speak.

[lilelvis2000]

Given the wife's voracious pearl habit. I keep as much outta her hands as possible. its also come handy now that I don't have any money coming in. And I'm having to deal with a "*)£"^()^£(^ agency.

[KathyWoolfe]

Shame, as this was an interesting poll!

Re-do it!

Really???

[Xenophon]

Dammit

Ok, just vote for the andyw option

Shame, as this was an interesting poll!

Re-do it!

[shelby68]

Don't keep more than £35k in one bank in case it goes bust!

Good point, time to get another bank account.

At the moment I keep all my company profit in the account until I've figured out the most tax efficient way to invest it which, in the current market seems to be stuffed in a mattress.

[Archangel]

Don't keep more than £35k in one bank in case it goes bust!

[Sockpuppet]

Dammit

Ok, just vote for the andyw option

[ferret]

Sorry mate, I can't do it either.

[NickFitz]

dammit. Didn't make it multiple choice.

Gah.

FAIL

[Sockpuppet]

dammit. Didn't make it multiple choice.

Gah.

[BrilloPad]

I am with montpelier so I don't have one...