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#1 18-01-07 20:45:47

Karl
Verified Member
From: West Midlands
Registered: 20-02-06
Posts: 202

business account

Do the majority of ADIs have business accounts or do you just pay in to your normal personal account and have everything come out of there for work and play, I'm undecided on what to do?

Karl


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18-01-07 20:45:47

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Re: business account



#2 18-01-07 21:18:41

Rockin
Verified Member
From: Thornton Heath
Registered: 06-09-06
Posts: 200

Re: business account

I have an ordinary account. Provided you keep good records of income and expenditure there is no problem. Letss face it as you are self employed all money earned is yours (or whats left of it after expenses etc)

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#3 19-01-07 16:39:40

MiniClassic
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From: Croydon
Registered: 18-01-06
Posts: 447

Re: business account

Same as above - Ordinary current account for me & good records kept.


Ambition Driving College

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#4 19-01-07 16:43:15

corsa
Verified Member
From: essex
Registered: 26-02-06
Posts: 126
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Re: business account

bussiness ac for me i just find it a lot easier to manage my finances


if in doubt don t pull out
www.cartuition.co.uk

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#5 19-01-07 16:47:38

driverpete
Verified Member
From: Nottingham
Registered: 06-02-06
Posts: 457

Re: business account

I simply set up a separate Nationwide Flex account which I can access online. All my business income and expenditure goes through it and I simply transfer what I need for living expenses into our personal account. Much easier to keep track of everything.


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#6 19-01-07 16:51:21

MiniClassic
Verified Member
From: Croydon
Registered: 18-01-06
Posts: 447

Re: business account

My account is also the Nationwide Online one & I have another normal current account with NatWest, so yes, maybe I wrote the wrong thing - how I meant it was neither is a business account that can be charged for by the bank.


Ambition Driving College

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#7 19-01-07 18:35:51

jr
Verified Member
Registered: 29-10-05
Posts: 79

Re: business account

Before I became limited I had two ordinary accounts to avoid bank charges. When I went limited I had to have a business account so changed from HSBC who were charging me about £10.00 per month afgter my first 12 months free banking and went to Alliance & Leicester who charge me zilch, plus I can pay in at the local post office.
John

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#8 19-01-07 19:35:53

Carl
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Re: business account

I used to have a business account but the costs involved put me off (£5 per month fee and 64p to write/clear a cheque). In 6 months I spent something like £120 on costs of having the account. I now use a second personal account for business and a high-interest savings account for block-bookings. All accounts are with the same bank and I have online access and can move the money around as I like.

Carl


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#9 19-01-07 19:38:09

Target
Verified Member
From: Winchmore Hill North London
Registered: 17-01-05
Posts: 5,695
Website

Re: business account

I have a business account.

I believe this has been said before. However theres no harm in asking again and the searches facilities are not always that easy to find.

It has been useful.....Google sent me a check for some money need owed and it was made payable to Target Tuition.....

I use Abbey Nat which is free and all online banking if needed.

I'm hoping to expand the business and it was important to get things right from the start. So basically I can take cheques etc made out to the school or myself. I also wanted to be able to start keeping private money away from business money but alas I'm always overdrawn so no such chance.

Its handy and its an option basically.

p.s I get a cheque book with Target Tuition on also.


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#10 31-01-07 22:00:13

Trig
Verified Member
Registered: 08-03-06
Posts: 37

Re: business account

Llds bank are offering a free business acc for 18 mths, they also send you (if youwant them)  a text every day of your balance. I found them very helpful. Nothing to stop you moving your acc at the end of the free trial.


Trig

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#11 01-02-07 19:58:35

Colin Martin
Verified Member
From: Southsea
Registered: 21-01-05
Posts: 2,465
Website

Re: business account

Didn't have a business account as an instructor. Opened one when we started the school so we could cash cheques in the school name. This means we can cash them for instructors as well so they don't need business banking.


Colin Martin
The Bright Red L http://thebrightredl.com
Instructor Apps http://drivinginstructorapps.co.uk
Apps Video channel https://www.youtube.com/colinbythesea

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#12 16-02-07 05:39:30

reddragonbus
Verified Member
From: Edinburgh
Registered: 05-02-06
Posts: 1,656

Re: business account

Abbey National Free business banking forever. You can deposit cash and cheques via the ATM's and post cheques to be processed in prepaid envelopes.

I even managed to deposit £10 more by mistake and they caught it and added it to my balance.  smile


LGV PCV Instructor DVSA ADI Fleet

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