Setting up a business account

[golders]

Hello,

I am about to setup a little business (Part Time)
from home selling things on ebay and buying from wholesalers.

Does anyone know what I need to setup a Bank Account with the business name?

I will be running as a Sole Trader I guess.

Any help would be cool.

[Vez]

Aliance and lester do Free business banking with interest on the account, prolley a good starting place is them

I will be moving my business accounts there, as LTSB are a complete waste of brain cells (though saying that the call centres are amazing, just a shame the staff you meet face to face are a complete bunch of twats).

[golders]

cool.

I do not need a business loan etc as I will be putting some of my cash in.

So any Buisness account would be cool.

[Rude Dog]

Excuse me for being thick/nosey but is this gonna be your main source of income and are you employed or self employed

[golders]

I am currently employed and this will be a part time second income

[Rude Dog]

Why bother declaring it???

[GmasterT]

Originally posted by Rude Dog
Why bother declaring it???

Yeah rude doesnt!

(send e-mail to InlandRevenue@I_know_a_tax_dodging_bastard_and_wan t_my_snitching_reward_please.gov.uk)

[golders]

Rude,

I need to declare it because I will be ordering £100-£200 worth of stock per 2 weeks, so if the Tax boys check the wholesaler then they will won't to know why I am not declaring it.
Each item costs £38 from wholesaler and sells on ebay for £60-£80+ (so £20-£40 profit per item which will be put back into the business, so the order will rise to £300-£500 per 2 weeks over the course of the year as we grow it.

This will be a business (not just a few odd bits on ebay like I do already). I will also be selling via a website too - Mail Order.

Has anyone ever done this before?

Cheers,

Rob

[mattpayne]

just out of curiosity... what 'Items' are you selling

[Rude Dog]

Originally posted by GmasterT
Yeah rude doesnt!

(send e-mail to InlandRevenue@I_know_a_tax_dodging_bastard_and_wan t_my_snitching_reward_please.gov.uk)

FPML at that
BTW they don't pay rewards anymore So save the e-mail eh?

[GmasterT]

Originally posted by Rude Dog
FPML at that
BTW they don't pay rewards anymore So save the e-mail eh?

Oh bollox, looks like I'm back to snitching on drink drivers again...
50 squids a time!!! another money making tip from mcdonalds!
Now I have no friends though (but made £100 from the 2 I did have!!)




Golders, check out this!

[golders]

Thanks GMAsterT

Skyline Matt - I wish I could tell you, but I don't want my Master Plan buggered up just yet - will let you guys know when its up a running (I will say they are kids toys)