Hsbc are b@rstewards

[a2]

I've banked with Natwest for years , their monthly charges are not too much. \They asign a business manager to you , although I have'nt used their services they seem professional.By the way , did I mention that I had a :x from Mrs Admin

Damn, hes off again :^O

 

[a2]

Most banks have been mentioned in this thread but not Lloyds!?

I've got the same account that my mum set up for me when i was little.

 

[Apache]

I don't even have a business account, i'm working from a personnal current account. Are there benefits from having a business account???

Explained in this thread http://www.talk.electricianforum.co.uk/showthread.php?t=1615

 

[Pyro]

I've banked with Natwest for years , their monthly charges are not too much. \They asign a business manager to you , although I have'nt used their services they seem professional.

Have you ever seen or spoken to the business damager?

I had the misfortune to bank with NaffWest in the 1980s (They were the bank that claimed to start more small businesses than any other bank. Absolute bowlarks - more like close more small businesses). I never saw the claimed-to-be-pro-active business damager and told the branch damager (to his face) that his sidekick was like the tooth fairy - totally mythical.

The incompetent prats lost an insurance policy document they held as security against a loan. First they denied ever having had the document... until I produced a signed receipt. When they told me to contact the insurance company to get a new set of policy documents, I said something like "No way. You lost the document, you sort out the replacement. I will not make myself look an idiot for someone else's incompetence, particularly yours. As a bank, you are supposed to be trustworthy". I would not give NaffWest the time of day if I was paid to.

Enough of my rant against the bank with a swastika-like logo.

I'm with Abbey for both personal banking (20+ years) and business banking (since 2001). No problems. The lack of business facilities in branches is offset by the efficiency of the telephone banking.

HSBC = highly suspicious bank charges.

Pyro.

 

[green-hornet]

I was and had an account with the nat west in 1990 I was vat registered and the bank fell over backwards for me, until Lemont came out with his budget then all hell broke loose, norman lemont overnight closed more small businesses than any other political person I can remember.

This recession we are going through will pass like all others, just do what you have to do to get through work in the sewers if it pays I know I would.

 

[Pyro]

Myself and two partners were comprehensively "reamed" in 1988 - mid September. We had a very nice order from a client and needed a short-term loan to enable the work to be done and equipment to be delivered to the client. It was in the region of

 

[mcgaw81]

I don't even have a business account, i'm working from a personnal current account. Are there benefits from having a business account???

Forgot to mention although its a personnel account, it is only used for my business.

I have been asked two or three times when I've been in if i am using it for business, and as I'm getting reguler BACS payments from the contractor im working with I just told them its wages.

I have 3 personnal accounts with 3 banks, so if they dont want me i'll move it to another bank.

 

[jl-heating]

why do u have a business acount? you can run a business in a personal account as long as its only for business . if limited you need a business account .

 

[Janice]

I'm waiting for the day the Bank of England rate goes negative. I want to ask my bank how much interest they wil pay me on the money I borrow from them. B-)

J

 

[Andy™]

I'm waiting for the day the Bank of England rate goes negative. I want to ask my bank how much interest they wil pay me on the money I borrow from them. B-)J

in which case everyone will take their money out and max their overdraft to get more money!

 

[Pyro]

why do u have a business acount? you can run a business in a personal account as long as its only for business . if limited you need a business account .

Image.

When I started out I used my personal name. Invoices were printed with "All cheques to be made payable to Mr ........."

Several clients (domestic and commercial) queried amounts charged, quibbled about labour rates, asked if jobs could be done for cash, if they could supply materials and I do the work for a reduced rate. Dammit, the excuses and worming out of paying a real rate for a real job just went on and on and on.....

Then I set up a business account, which is titled "Mr. ....... trading as [business name]". It enables me to issue invoices as "[business name]". All of a sudden, the quibbling, worming, excuses, offers of cash, etc., evaporated.

I expect that this is to do with the impression that the client is dealing with a professional organisation that has genuine overheads and is therefore justified in charging a commercial rate for work undertaken. One client in particular will NOT deal with individuals trading just as their personal name; their suppliers must, as a minimum, be a "name trading as" and have a business bank account.

When you consider that

 

[Apache]

Some excellent points there Pyro

Not what you do but how you do it

 

[Evans Electric]

Excellent post by Pyro ( Do we call him MICC)

 

[green-hornet]

Only problem I have is having to include vat on domestic work

 

[mcgaw81]

Only problem I have is having to include vat on domestic work

Tell me about it I had to become VAT reg'd in feb, (just paid first bill 6 weeks over 2k), now whenever I get a domestic job, all they say is Do you have to add the VAT.

 

[Andy™]

Tell me about it I had to become VAT reg'd in feb, (just paid first bill 6 weeks over 2k), now whenever I get a domestic job, all they say is Do you have to add the VAT.

but you have to remember being VAT reg'd, you get your materials for less, so really the only difference is you have to add VAT to your labour only.

i rarely have any problems with domestic customers and being charged VAT

 

[batty]

but you have to remember being VAT reg'd, you get your materials for less, so really the only difference is you have to add VAT to your labour only.i rarely have any problems with domestic customers and being charged VAT

So Andy you charge customers what you pay for your materials?

Batty

 

[Andy™]

So Andy you charge customers what you pay for your materials?Batty

i work all my prices Ex VAT (but give the total price inc vat to domestic customers). all materials have a % added on (depends what it is for how much, and if its something to be bought immediately rather than planned next time im at wholesaler, than that gets a higher markup added)

if you price a job as

 

[batty]

i work all my prices Ex VAT (but give the total price inc vat to domestic customers). all materials have a % added on (depends what it is for how much, and if its something to be bought immediately rather than planned next time im at wholesaler, than that gets a higher markup added)if you price a job as

 

[Andy™]

Thats double dutch you claim the vat back on your purchase and then what ever you sell it for you pay the vat to hmrc so unless you purchase a new van you will always owe.Batty

but in that example, if take cash for the job, and use that cash to replace materials that you used, then itll cost you