Sole trader or business account ?

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softmind82

Free Member
Aug 5, 2005
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London
  • #1
    Please advice should I open a sole trader account or the business account of my new business setup. I'm expected to buy £4000 worth of the different products each day and sell that over to my customer other part of the world.

    Secondly my personal credit history is not that good and banking with Barclays so would that effect on my business account or do they deal seperately from personal account.

    I need a account which can offer me debit card to buy stuff.

    Many thanks
     
    MyAccountantOnline

    MyAccountantOnline

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  • #2
    softmind82 said:
    Please advice should I open a sole trader account or the business account of my new business setup. I'm expected to buy £4000 worth of the different products each day and sell that over to my customer other part of the world.

    Secondly my personal credit history is not that good and banking with Barclays so would that effect on my business account or do they deal seperately from personal account.

    I need a account which can offer me debit card to buy stuff.

    Many thanks
    Click to expand...

    I certainly recommend a separate bank account just for business use, and unless you want to breach the bank conditions it does need to be a business bank account.

    I heard a while ago that Natwest were often particularly helpful to people with adverse credit history may be worth a look.
     
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