caesium
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Post by caesium on Jan 16, 2016 13:31:13 GMT
Hey,
Sorry I'm sure this has been asked, but I tried searching and got hundreds of useless results.
Do AC accept business accounts? I have some spare cash in my Ltd company I want to invest, legally independent of my personal AC account. I presume I would sign up under the same name at AC though.
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Post by chris on Jan 16, 2016 13:34:14 GMT
Yes we do. It's one of the options when you register, and if you get stuck you can always talk to our customer service team to guide you through.
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caesium
Member of DD Central
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Post by caesium on Jan 16, 2016 13:34:56 GMT
Thanks chris, I'll get this sorted then  |
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tonyr
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Post by tonyr on Jan 18, 2016 10:06:30 GMT
Do AC accept business accounts? I invested my company's spare cash with AC for a number of years and the AC part of it worked very well. However, it may work too well - just check with your accountant that you will remain a trading company and not an investment company - AC can be too good sometimes!
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Jan 18, 2016 11:40:23 GMT
Do AC accept business accounts? I invested my company's spare cash with AC for a number of years and the AC part of it worked very well. However, it may work too well - just check with your accountant that you will remain a trading company and not an investment company - AC can be too good sometimes! What can cause you become trading company? What are the consequences?
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tonyr
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Post by tonyr on Jan 18, 2016 11:43:40 GMT
I invested my company's spare cash with AC for a number of years and the AC part of it worked very well. However, it may work too well - just check with your accountant that you will remain a trading company and not an investment company - AC can be too good sometimes! What can cause you become trading company? What are the consequences? You want to be a trading company - the rates of corporation tax are less. Also only trading companies qualify for entrepreneurs relief. (all from memory)
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Investboy
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Post by Investboy on Jan 18, 2016 12:05:52 GMT
What can cause you become trading company? What are the consequences? You want to be a trading company - the rates of corporation tax are less. Also only trading companies qualify for entrepreneurs relief. (all from memory) Ops, I meant the investment company. so rewriting the question: What can cause you become investment company? What are the consequences?
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tonyr
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Post by tonyr on Jan 18, 2016 12:50:23 GMT
You want to be a trading company - the rates of corporation tax are less. Also only trading companies qualify for entrepreneurs relief. (all from memory) Ops, I meant the investment company. so rewriting the question: What can cause you become investment company? What are the consequences? There isn't a hard and fast test, but there is HMRC guidelines on a web page somewhere and AccountingWeb has threads on this (e.g. www.accountingweb.co.uk/anyanswers/question/trading-company-investing-stocks-and-shares) - search for 80/20 rule. It really is one for accountants advice. However, if most of your profits come from investments, or you deploy most of the company's assets as an investment, then you are liable to be treated as an investment company. In my case I wanted to keep money in the company to give a good run rate - that is a buffer for salaries for the next year or more. Investing it meant I could pay more people. But as I run a software company and there isn't anything much in terms of tangible assets, then most of the companies assets were invested and my accountants suggested I stop. Which is a shame as it's now sitting doing nothing.
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