Limited Company Bank Account

Limited Company Bank Account

It is highly recommended that a Limited Company has its own bank account.

A limited company is a separate person in law, so to mix the company's financial matters with private bank accounts may lead to 'muddy waters' particularly if there are cash flow and insolvency issues.

Having a separate bank account(s) will enable a company to keep full and integral financial records, separate from the Directors and Shareholders.

If the company's Annual Accounts are prepared and filed by independent accountants, the bank account records will need to be reviewed.