Starting a company is one of the first steps in developing your business. Our company formation service will ensure your business is incorporated in just a couple of hours. With all of the legal documents provided instantly your company will be ready to operate the moment the company is registered.
Operating as a company will mean that you need a UK business bank account. You cannot operate a company using a personal account or a business account for sole traders. Your company is a legal entity in its own right and needs a company bank account in the business name. Barclays provide excellent banking services with free business banking for newly registered companies.
SFS can provide you company formation with a bank account at Barclays. When registering your company online we can refer you for a fast track bank account application. Most accounts can be opened within just a few days for UK clients. Unfortunately we cannot refer non UK clients for Barclays business bank accounts.
For any customers with adverse credit history or that experience difficulties opening UK bank accounts we can offer a Guaranteed Business Bank Account. Please visit the following page for more information – Company formation with guaranteed bank account
Why a Business Bank Account is essential
Limited companies must have a business bank account for the receipt of funds and payment of bills. Whether your business operates in cash, cheques, card payments or via online bank transfers the company must have its own account. UK bank’s terms and conditions will normally prevent companies operating from a personal account. Your bank will not all you to cash your business cheques in a personal account.
Separating your personal income from that of the company is recommend for accounting purposes and will help to avoid awkward questions from HMRC.
Your suppliers and customers will expect you to have a business bank account. This will add to your credibility if you can pay quickly with a business cheque or debit card.
The account will allow you access to your account online 24 hours a day. You can pay bills, withdraw funds, apply for additional services like overdrafts, and manage your cashflow.
Register your company now and ask for a business bank account referral.