i need just a basic business account i have bad credit i no i should pay off my debt but that will come later can any one help me i dont wont no loans just account to pay money in i cant go vat reg until i get this my account needs to have my company name help help help help !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You could try Cooperative Bank but I fear no-one will touch you until you sort out the debt. Put another way, would you open an account with you? You don't have to register for VAT until your net earnings take you over £60k in the fiscal year. Do you really need to register?

SHARK!

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For every positive action, there's an equal and opposite government plan.

i do need to be vat reg as the company im going to do work for needs to bill me vat and so foth all i need is a basic account thats it no loans or cards just a place to put money and take out money but please helppppppppppppp

To start with and by the way I can help, dont come across so dam desparate, if your requirements are for legal purposes I will help. first question You say "The Compnay that you will be contracting too requires you to be VAT registered " curious one alarm bell rings anyone pre tellto what Im thinking, correct answer and I will continue TW

ok fair play i may seem a bit green ive been in contact with many people over this ive come so far i just cant under stand that i cant get over this hurdle look ill give you some info on what i wont to do im starting up a recruitment agencie witch is little over heads i need a vat reg company due to the umbrella company im using to pay the lads this is not a option to change i already have clients ready to use the service but need to invoice them with vat which is also not a option due to a condition they agreed to use me i have the men i have the business nearly set up im not saying there isnt a other things i need to do but im nearly there so if you can give some adive thanks Arron

Mate, confusing aint in it,m is it me or are you panicing, you need a private chat let me know, sounds you got the drive focus on that and I promise things will be sorted after i am The Wizard !!!!!!!!!!!!!!!!

Basically I do research into the world of networks, I test the living S**t out of them on my clients request, a bit covert but I have to simulate a real attack make them believe otherwise issues can not be addressed, very Busy at the moment, I am writing a paper not sure what colour yet, but I will be looking for companies to sponser/advertise at my approval.

Hi Arron,

For a simple business a/c - approach the Co-op or Yorkshire Banks. Both pretty good at basic business accounts. They will consider people with debt, whatever your trading status etc.

Also, perhaps you should see an accountant about your VAT etc. In this instance Sharky is wrong, and quite far off the mark, which just goes to show that this forum is great for some advice - but not everything! (Sorry Mr/Mrs Landshark.)

The VAT threshold is considerably more than £60k per year, should be calculated on a rolling 12 month basis and does not sit within the boundaries of a particular financial year. (We do not have fiscal years in UK private industry - sorry again.)

Also, you do not have to be registered for VAT until you reach the threshold, never mind umbrella comapnies etc. You or your Ltd Company are the entitys registering, and its up to you if you voluntarily register.

Personally, I think that if your o/heads are low - why bother registering? You will be able to beat your competitors on price by not having to charge VAT to your customers. Makes total sense if your output tax is likely to be low. What it does sound like you need is some good advice. You might have to pay for it, but if you set yourself up correctly now you will reap the rewards in no time at all!

Also, a good local accountant will probaly have a referral deal in place with a local bank - might kill two birds with one stone, so to speak!

Hope this helps.

Sarah

Sarah.

Reflecting on your coomnents re VAT although you in prinicple correct at what you say, but remember Aron iis dealing with or hopes to deal with clients which are of enterprise/multinational status, in recruitment VAT registration is a sensible approach as if a company wishing to acquire Arons servives sees he is not VAT r4egistered and straight away will know that hes only7 a small company with could lead the protectional to seek services elsewhere, plus you can claim VAT costs for businesss upto i believe 3 months before you become VAT reqisterd, it will pay you to hire a p/t bookkeeper, dont be boged down with doing this yorselve or relying on a freind or partner to doo thias for you, your Job is to get get get mkore clients and achieve industry recognised standards whilst altomotly making lots and lots of profit, remember thats why any of us are in business/working. I noone please dont give me that to better myself cr*p.

TW

The Wizard,

Nowhere does the poster say he is dealing with multinationals. It sounds as though he may be involved with a franchised operation or something similiar. The advice I gave him was factually correct, but also included telling him it may be wise to take some paid advice from a proffessional.

There are many trading structures - sole trader, partnership & ltd being the most 'normal' for start up businesses. VAT is a separate issue, and is not always worth voluntary registration straight away. It may be true that in order to promote 'status' for his business he should be VAT registered, but it may also be true that to keep your prices 17.5% lower than competitors will be a good thing to begin with. Certain capital expenditure can have the VAT element claimed for up to 3 years from purchase to registration.

My point is - what is your point? This forum is not the best place for advice on business start-ups. (Although its fab for personal finance and all the other 'categories' - especially Shark & the likes.) You have proved this twice now.

Personal finance what else do you call earning money from being self employed, anyway Aron was a bit broaad telling him everybank has turned him down which is very doubtful, some banks do sponser anititives for people who have had financial difficulty, its called financial inclusion, unless hes been a bad boy the F word then he be knackerered.

Anyway im no shark, I give my advise for 3 to individuals and theres nothing wrong with me having a passion for helping out the fellow man x

PS and I kjnow I cant spell for s**t

Well Wizard,

Lets see - I call 'personal finance' all matters related to domestic loans, mortgages, credit cards et al.

What the poster quite clearly was requesting was information regarding business matters - ie. not 'personal finance' but 'business finance'. There is a clear cut difference between the two. A business account is entirely different to that of a person/s.

This forum is not the place for the best 'free' advice on business finances.Much better are the government sponsored sites such as business link, or sites such as taxation web, accounting web and the likes. I'm sure the poster may have already found such sites on the web.

There is no such thing as 'financial inclusion', certainly not for business related activities. If a bank or other organisation do not wish to take a business as a client they are in no way obliged to do so. Again, this is very different to what is available for the 'personal finance' market.

When I mentioned Shark - I was referring to Landshark who has also contibuted to this thread, and is generally a mine of useful information from what I've read on MS.

Not only can you not spell - but typing profanities with letters blanked out makes you appear that no-one in their right frame of mind would listen to anything you have to say - so again, why? What is your point?

Rant Over.

Sarah Lee

The prafanities are included with stars the intention is neither to affend or look good but to lighten the text and make it more bareable to read, Im not going to argue about financial inclusion because quite frankly the subject bores me and a cat annd mouse fight over who is correct will not benefit the forum. and for the typing and spelling, when I write it is original from the heart advise or personal option what ever but all I know is that if someone has an idea or ambition in life providing its legal and ethical they should not be shown a brick wall by someone who has justed pressed the submit button on some stupid computer.

Love you too x

see no provanities