Stanley Mitchell:
nyk473l:
chaversdad:
It was a long time ago since i had to think about this but im sure you just need access to the money, not to physically have it in the bank, ie credit cards or an overdraft, might have changed but im sure thats how i remember itQuite right. When we changed from sole trader to limited, the TC would not accept funds in the sole trader account as classified as a separate business. Just got an overdraft facility with the bank and a company credit card with a credit limit. TC accepted this as available funds with no issue for the new licence.
How long ago was this though ?
Since HMRC has jumped the queue regarding insolvency, banks are now getting very strict regarding any lending to business, hence the flow of “locked gates” we are seeing at the moment
Just when you need them, they pull the rug away, so don`t expect too much help for a “start-up” anytime soon…
If you can, trade with your own money, steer clear of the high street leeches ….
10 years ago.