Business Bank Accounts

[Jiggles]

Is there any implications in getting one?
Do i need to be VAT registered?
Or should i just get a normal Account?

Callum

[A1DL]

Is there any implications in getting one?
Callum

Not sure that you can as a minor

Do i need to be VAT registered?
Callum

Not unless your turnover exceeds the registration threshold, which I very much doubt it does

Or should i just get a normal Account?
Callum

Probably a better idea given your current circumstances/age


HTH

Tony

[Jiggles]

Ok

thanks

[DMX Will]

Yeah you need to be 18 to hold a bussiness account. I held off until recently (well a few months ago) when I turned 18. It's a shame really because all your probably want it for is to recieve cheques made out to "CB Entertainments" considering your probably spending the money you make at your age straight out etc.

Why not ask a parent to hold the bussiness acount in their name. Have a look at the Cooperative's bussines deals, as some of them don't charge you a monthly/anual rate, and just charge small amounts for debit card/cheques outbound of the account.

Will.

[Jiggles]

I was thinking of getting a Cheque account BUT putting "CB Entertainments" or cant i do that

[wensleydale]

best bet is to use a personal one as business ones all have charges most of the time.

[Steve the DJ]

When you are old enough to open an account I would recommend Abbey Business Banking as it is free unless you go over certain limits (i.e pay in no more than £3000 in cash per month, max of 100 cheque deposits per month) which would usually be fine for most single operators.

When you open an account you can do so as "MR Your Name T/A CB Entertainments" which means you can receive payments in either your or the businesses name.

[Jiggles]

When you are old enough to open an account I would recommend Abbey Business Banking as it is free unless you go over certain limits (i.e pay in no more than £3000 in cash per month, max of 100 cheque deposits per month) which would usually be fine for most single operators.

When you open an account you can do so as "MR Your Name T/A CB Entertainments" which means you can receive payments in either your or the businesses name.

Good Idea Ill see my grandad (Ex Bookkeeper ) and see what he has to say

[Spirits High]

When you are old enough to open an account I would recommend Abbey Business Banking as it is free unless you go over certain limits (i.e pay in no more than £3000 in cash per month, max of 100 cheque deposits per month) which would usually be fine for most single operators.

Opened Abbey account the other day very painless.
Applied over the phone then they emailed the filled in form, job done

Highly recommended and no I dont work part time for them!

[DMX Will]

I'm torn between Abbey and The Co-operative bank. I have a wedge of printed off forms for the co-op and its quite scary! I might just go with Abbey however when I ring/they ring, are they going to be overly happy that I only want it for a few quid and not big money!?