Business banking for landlords?

by Readers Question

13:58 PM, 19th June 2014
About 7 years ago

Business banking for landlords?

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Business banking for landlords?

Wanted to pick your brains on business banking. 

I have 5 properties, one I live in and the other four let out.

My accountant has advised me to open a business bank account. Is this the right way forward?

I guess it may depend on strategy, mine is to hold the property’s long-term. Business banking for landlords

I guess business banking is just another monthly cost when you can use personal bank accounts for the same exercise, but for tax purposes I want to do the right thing.

Which business banking do you use?

Is there a specialist one for property management or would an online business bank do the job?

Thoughts please,

Many thanks in advance.

Paul


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Comments

Mark Alexander

18:18 PM, 20th June 2014
About 7 years ago

Reply to the comment left by "Mick Roberts" at "20/06/2014 - 17:59":

Nothing more to tell really, just ask your bank if they offer that facility and if they don't, find one that does.
.

Colin McNulty

12:10 PM, 21st June 2014
About 7 years ago

If you're a member of the Federation of Small Businesses, they have a deal with Coop for free business banking:

http://www.co-operativebank.co.uk/business/currentaccounts/fsb-current-accounts

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