I have had some clients who at the start up stage of their business were concerened that they would not be able to open a bank account due to their poor credit rating. This rating was as a result of difficulties in the past meant that they were unable to pay their debts. They had agreed repayment plan with all their creditors.
Most of my clients, with a bad credit rating, were able to open a business bank account. It is important to talk to your bank and in an open and honest way so they will be able to help. However, you may not be able to get credit from the bank till some time has passed since you opened your account. This is one way for them to check your credit worthiness.
If you would like any further information, please do not hesitate to contact Southside Accountants Wimbledon & London.
This is a question we are asked very often. There is no simple answer to this. It depends on the type of business you run and the type of person you are. There are certain records you need to keep. However, you have several options how you keep these records. The following link will take you to a Business Link website that explains this area extremely well:
After your credit period (for example 30 days) there is no hard and fast rule on how long you should wait before taking further action.
The short answer is no, you do not have to be an accountant to submit accounts to Companies House. However, it is would be best to employ services of an accountant. He/she would ensure all the changing regulations are complied with. Further, the accountant will be able to identify any tax savings. These tax savings may outweigh their fees.