Spending own funds on company's needs

[sky_rise]

Good afternoon everyone.

The business is up and running, and soon business will get a contract to rent premises and will need to pay for the contract.

It is not easy to get business bank account and I do not have one.

Please advice how could I pay for the premises from my personal money and so that it can be treated as investing in a business (part of the 50k sum).

This is not office rent payment, that is for the conference hall.

Many thanks

SR

[KickAss]

You can pay from your personal account and I assume for your business you will be the Director and employee as well.
Hence you can pay for your business expenses from your pocket and later that can be claimed from the company.
Try Barclay's, I got my business account with them without any hassle.

One point to be careful is that you must get a proper invoice for this transaction on the name of your company coz HMRC might ask you a proof for this investment.
In case you have not yet applied for T1E, Ill suggest that you must send this invoice along with your bank statements to satisfy case worked and avoid delay.

[sky_rise]

You can pay from your personal account and I assume for your business you will be the Director and employee as well.
Hence you can pay for your business expenses from your pocket and later that can be claimed from the company.
Try Barclay's, I got my business account with them without any hassle.

One point to be careful is that you must get a proper invoice for this transaction on the name of your company coz HMRC might ask you a proof for this investment.
In case you have not yet applied for T1E, Ill suggest that you must send this invoice along with your bank statements to satisfy case worked and avoid delay.

thanks for the reply.

Did you have any visa issue with opening business bank a/c? At HSBC, RBS, NatWest, Metrobank and some others, all ask for visa to be valid for 3 or 6 months at time of application (i have less left).

How is it with Barclays? Do they check on it?

I have not applied yet, still setting up things.

[saeed5079]

i have 50000 in my business account but i have another top up of 7000 to meet business spending. but i need to spend more and only have that 50000 left in my business account so can i spend money out of 50000 to meet my business needs which includes daily expenses as well. i need clear and solid answer because i am financially too tight at the moment.[/b]