Banking

[Louise317]

I was wondering what people do about banking...

Do you have a business account or use a standard account ?
Do you have a savings for Tax/NI ? (do you save 10-25% ?)

Was looking at reviews for business account and you can end up paying £500 in charges

[Stew....pid]

i just use my normal account, im self employed not trading as or Ltd so a normal bank account works for me

[Louise317]

Thanks Stewart, I was thinking about opening another normal account...

I want to keep it away from the 'house' account and save for tax straight away (in the hope that I just get a nice bonus at the year end )

[kel1983]

I set up another personal account on the side of my existing account so I can keep track of money.

They are all linked online so I can transfer straight from one to the other etc.

I am gonna try and get another savings account or ISA that I can use to save incase I need to pay TAX. I dont think that is gonna be very likely this year though as I have not really made much profit.

[miffy]

I use my ordinary account not a business one and have a savings account attached to it so I can easily move money back and forth - works for me

Miffy xx

[SamBaker]

I opened another account for my business money but it was only a normal one and I put my Tax, NI and the deposits in a savings account. I havn't got business accounts, just lots of normal accounts, bit like piggy banks lol! The bank didn't mind what I was doing.

[tulip0803]

I have an ordinary account and then place so much in a savings account that is slightly awkward to access to stop me using the money